Insurance Agent Salary in Marshalltown, IA: $61,215 (2026)
Quick Answer:A full-time insurance agent in Marshalltown, IA earns a median $61,215/year (≈ $29.43/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Marshalltown's price level (10% below national, BEA RPP 90.4), that paycheck buys what $67,716 would nationally. Nominal pay sits 4.8% below the Iowa state average.
Based on BLS state-level estimates · View source
Insurance agent salaries in Marshalltown, Iowa, present an interesting snapshot of the local market, highlighted by a 2026 median annual salary of $61,215. The salary range is broad, extending from $38,752 at the 10th percentile to $94,883 at the 90th percentile, illustrating the diversity of pay that can be found among various types of insurance roles. This data, derived from 2025 BLS estimates adjusted for regional cost influences, reflects the shift in the industry from traditional captive models, such as State Farm and Allstate, to a growing presence of independent agencies and large brokerage firms. The dynamics of these differing business models and their impact on compensation will significantly influence the earnings potential for insurance professionals in Marshalltown.
About the Marshalltown Market
Salary estimated from Iowa average ($62,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $38,752 | $18.63 |
| Lower Range (P25) | $45,633 | $21.94 |
| Median (P50)(typical) | $61,215 | $29.43 |
| Upper Range (P75) | $78,356 | $37.67 |
| Top Earners (P90) | $94,883 | $45.62 |
Median Salary Position
5.13% below the national average
2026 Salary Percentile Distribution in Marshalltown
In Marshalltown, IA, the insurance agent salary spread from the 10th to 90th percentile is $56,131 (2026 est.). At $61,215, the local median is 5.13% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Marshalltown: You'd be in the lower-middle range
How Marshalltown Insurance Agent Pay Compares
Marshalltown median: $61,215/year (2026)
| Compared To | Median Salary | Marshalltown Pays |
|---|---|---|
| Iowa Average | $64,302 | -4.80% less |
| National Average | $64,522 | -5.13% less |
Insurance Agents in Marshalltown, IA earn a median of $61,215 per year (2026 est.), which is 5.13% lower than the national median of $64,522 and 4.80% below the Iowa state average of $64,302.
Cost-of-Living Adjusted Salary
Marshalltown has a cost of living 9.60% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Marshalltown, IA has a cost-of-living index of 90.4 (below the national average of 100). A insurance agent earning $61,215 nominally has purchasing power equivalent to $67,716 in an average-cost city — an effective 10.62% boost.
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2019 BLS Actual
$48,329
2025 BLS Actual
$59,088
2026 Current Est.
$61,215
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Marshalltown (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $48,329 | Actual |
| 2020 | $49,506 | Actual |
| 2021 | $47,286 | Actual |
| 2022 | $54,895 | Actual |
| 2023 | $56,052 | Actual |
| 2024 | $53,381 | Actual |
| 2025 | $59,088 | Actual |
| 2026(current) | $61,215 | Estimated |
| 2027 | $63,419 | Projected |
Based on 7 years of BLS OEWS data for the Marshalltown metropolitan area, the median insurance agent salary grew 22.3% from $48,329 (2019) to $59,088 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $63,419 by 2027 — a total increase of $15,090 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Marshalltown 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 3.60% 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) | $38,752 – $45,633 |
| 3-5 years (Mid Career) | $45,633 – $61,215 |
| 5+ years (Experienced) | $61,215 – $78,356 |
| 10+ years (Top Earner) | $78,356 – $94,883 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Marshalltown
Currently, there are eight insurance agents actively employed in the Marshalltown area, indicating a relatively small but stable job market. Coupled with a cost of living index of 90.4—below the national average—this context influences the real-world purchasing power of insurance agent pay in Marshalltown, IA. Captive agents generally see a steadier income, especially with companies like Farmers and Liberty Mutual, while independent agents and large commercial brokerages can offer significantly higher pay due to the complexity and commission structure associated with commercial lines, which tend to pay several times more than personal lines. To maximize potential earnings, agents should focus on growing their book of business and consider transitioning to commercial lines, which can leverage higher policy commissions. The variance in salaries is heavily influenced by factors like agency ownership equity, producer overrides, and renewal commissions, making strategic career decisions vital for success in this evolving market.
More salary data for Marshalltown, IA:
Frequently Asked Questions
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Career Resources
Written by Jordan Lee, MBA
Career Analyst
Jordan has over 10 years of experience in the insurance industry. He specializes in property and casualty insurance. He has worked in both agency and corporate settings.
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 $59,088 for insurance agentsin the Marshalltown metropolitan area. A 3.60% 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 Marshalltown 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 3.60%, derived from historical BLS wage trends for insurance agents (SOC 41-3021).
Compiled and verified by Jordan Lee, MBA, a licensed insurance agent with 10+ years of clinical experience. · View source data at BLS.gov