Real Estate Agent Salary in Richfield, MN: $43,751 (2026)
Quick Answer:A full-time real estate agent in Richfield, MN earns a median $43,751/year (≈ $21.03/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-9022). Once you factor in Richfield's price level (1% below national, BEA RPP 98.5), that paycheck buys what $44,417 would nationally. Nominal pay sits 3.7% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, the median annual salary for real estate agents in Richfield, Minnesota, is projected to be $43,751. This figure falls significantly below the national median of $53,622, illustrating a compensation gap of approximately 18.41%. The salary range for agents in this area spans from $29,427 at the 10th percentile to $67,813 at the 90th percentile. Local estimates, derived from BLS state-level data and adjusted for the regional cost of living, indicate that real estate professionals face varied earning potential based on their structural choices—whether they operate solo, are part of a team, or work within commercial brokerages. Considering these dynamics is essential, especially in a market like Richfield, where overall employment demand remains steady with a small but dedicated group of just nine real estate agents currently active.
About the Richfield Market
Salary estimated from Minnesota average ($68,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $29,427 | $14.15 |
| Lower Range (P25) | $34,416 | $16.54 |
| Median (P50)(typical) | $43,751 | $21.03 |
| Upper Range (P75) | $56,001 | $26.93 |
| Top Earners (P90) | $67,813 | $32.60 |
Median Salary Position
18.41% below the national average
2026 Salary Percentile Distribution in Richfield
In Richfield, MN, the real estate agent salary spread from the 10th to 90th percentile is $38,386 (2026 est.). At $43,751, the local median is 18.41% below the national median of $53,622.
Salary Calculator
At 40 hours/week in Richfield: You'd be in the lower-middle range
How Richfield Real Estate Agent Pay Compares
Richfield median: $43,751/year (2026)
| Compared To | Median Salary | Richfield Pays |
|---|---|---|
| Minnesota Average | $45,432 | -3.70% less |
| National Average | $53,622 | -18.41% less |
Real Estate Agents in Richfield, MN earn a median of $43,751 per year (2026 est.), which is 18.41% lower than the national median of $53,622 and 3.70% below the Minnesota state average of $45,432.
Cost-of-Living Adjusted Salary
Richfield has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Richfield, MN has a cost-of-living index of 98.5 (below the national average of 100). A real estate agent earning $43,751 nominally has purchasing power equivalent to $44,417 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$39,922
2025 BLS Actual
$43,104
2026 Current Est.
$43,751
2019–2027 Growth
+11.2%
Salary Trajectory for Real Estate Agents in Richfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 1.50% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $39,922 | Actual |
| 2020 | $40,012 | Actual |
| 2021 | $39,441 | Actual |
| 2022 | $40,779 | Actual |
| 2023 | $44,303 | Actual |
| 2024 | $64,516 | Actual |
| 2025 | $43,104 | Actual |
| 2026(current) | $43,751 | Estimated |
| 2027 | $44,407 | Projected |
Based on 7 years of BLS OEWS data for the Richfield metropolitan area, the median real estate agent salary grew 8.0% from $39,922 (2019) to $43,104 (2025). At a 1.50% compound annual growth rate, salaries are projected to reach $44,407 by 2027 — a total increase of $4,485 (11.23%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Richfield metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 1.50% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $29,427 – $34,416 |
| 3-5 years (Mid Career) | $34,416 – $43,751 |
| 5+ years (Experienced) | $43,751 – $56,001 |
| 10+ years (Top Earner) | $56,001 – $67,813 |
REA salary ranges estimated from BLS percentile data. Individual real estate agent compensation varies by employer, certifications, and specialization.
Real Estate Agent Job Market in Richfield
Analyzing the local job market reveals a relatively modest level of employment for real estate agents, yet the competitive terrain is complemented by a cost-of-living index of 98.5, indicating that agents can enjoy many aspects of life in Richfield without the financial strain often found in higher-cost regions. For those looking to maximize their pay, aligning with established national franchise brokerages such as Keller Williams or Coldwell Banker could yield better financial outcomes compared to independent or discount brokerages. Notably, factors such as commission splits, transaction volume, and specialty niches dictate the wide salary spread. Agents can increase their earning potential by cultivating strong referral networks, capitalizing on luxury or commercial real estate, or joining collaborative teams that often create shared leads for higher commissions. The post-2024 commission structure changes necessitate adaptability, and a strategic focus on enhancing skills and market presence will be critical for success in this evolving landscape.
More salary data for Richfield, MN:
Frequently Asked Questions
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Written by Maria Gonzalez, REALTOR®
Career Analyst
Maria has 10 years of experience as a real estate agent. She specializes in residential properties. She works with a large brokerage in Texas.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $43,104 for real estate agentsin the Richfield metropolitan area. A 1.50% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Richfield is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 1.50%, derived from historical BLS wage trends for real estate agents (SOC 41-9022).
Compiled and verified by Maria Gonzalez, REALTOR®, a licensed real estate agent with 10+ years of clinical experience. · View source data at BLS.gov