The top 10 percent of all U.S. home appraisers earned over $91,540 per year, according to 2011 data from the Bureau of Labor Statistics. These professionals estimate the value of real estate property so sellers can price their homes. They measure and inspect each property, studying its design, condition and construction quality. The appraisers then write detailed reports that cover all aspects of the homes.
Average Salary and Benefits:
Home appraisers made an average of $54,460 per year, according to the Bureau of Labor Statistics. Those in the lowest 10 percentile earned salaries less than $25,220 annually. Many of these real estate workers are self-employed and must pay for their own benefits. Those employed by real estate companies or other institutions typically receive medical and life insurance benefits as well as paid holidays, vacations and retirement packages.
Salary by Geographic Area:
Salaries for home appraisers vary widely by geographic area, likely driven by the cost of living in each area. Those in the District of Columbia earned the highest annual salaries at $88,500, according to Bureau of Labor Statistics' information. They earned the second highest salaries of $75,300 in Alaska. Home appraisers' salaries were also above average in California and New York at $71,110 and $65,540 per year, respectively. These professionals earned closer to average industry salaries in Florida at $49,200 annually. And those in Arkansas only made $35,670 per year.
Education, Training and Qualifications:
Some real estate home appraisers are only required to have high school educations, as specified by their employers or states. However, more companies in this industry are expecting their appraisers to have associate degrees. Additionally, home appraisers must take a minimum of 75 hours of appraiser-specific courses during their training. Those appraising more expensive homes of $250,000 and over may need 200 classroom hours, according to the Bureau of Labor Statistics. These workers are then trained as apprentices by qualified home assessors. They must then pass a state license or certification exam before being qualified in their field. Home appraisers must be highly analytical, with excellent time management skills. Meeting deadlines is an essential trait of the job.
The number of jobs for home appraisers is expected to increase 7 percent between 2010 and 2020, according to the Bureau of Labor Statistics. This rate of growth is considered slower than average when compared to other industries. The rate of growth for these jobs is directly tied to home sales, which can be slower during economic downturns. Some of the expected growth in the next decade will be attributed to population increases.