Insurance Agent Salary in Austin, MN: $63,888 (2026)
Quick Answer:A full-time insurance agent in Austin, MN earns a median $63,888/year (≈ $30.72/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Austin's price level (1% below national, BEA RPP 98.5), that paycheck buys what $64,861 would nationally. Nominal pay sits 5.4% below the Minnesota state average.
Based on BLS state-level estimates · View source
In Austin, MN, the projected median annual salary for insurance agents in 2026 is $63,888, representing a competitive figure within a broad salary range that stretches from $37,535 at the 10th percentile to $99,026 at the 90th percentile. This data is derived from 2025 BLS OEWS data and adjusted for regional cost variations, providing relevant insights into the local compensation landscape. Given the presence of traditional captive agents, represented by companies like State Farm and Allstate, alongside independent agencies and commercial brokerages, the structural divide in this market affects salary dynamics. Captive agents often receive specialized training and upfront commissions, but they may face limitations on their long-term income potential compared to independent agents or those working in large commercial firms. Such nuances drive the variability in earnings for insurance professionals in Austin.
About the Austin Market
Salary estimated from Minnesota average ($68,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $37,535 | $18.05 |
| Lower Range (P25) | $47,097 | $22.65 |
| Median (P50)(typical) | $63,888 | $30.72 |
| Upper Range (P75) | $81,777 | $39.32 |
| Top Earners (P90) | $99,026 | $47.60 |
Median Salary Position
0.98% below the national average
2026 Salary Percentile Distribution in Austin
In Austin, MN, the insurance agent salary spread from the 10th to 90th percentile is $61,491 (2026 est.). At $63,888, the local median is 0.98% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Austin: You'd be in the lower-middle range
How Austin Insurance Agent Pay Compares
Austin median: $63,888/year (2026)
| Compared To | Median Salary | Austin Pays |
|---|---|---|
| Minnesota Average | $67,535 | -5.40% less |
| National Average | $64,522 | -0.98% less |
Insurance Agents in Austin, MN earn a median of $63,888 per year (2026 est.), which is 0.98% lower than the national median of $64,522 and 5.40% below the Minnesota state average of $67,535.
Cost-of-Living Adjusted Salary
Austin 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.
Austin, MN has a cost-of-living index of 98.5 (below the national average of 100). A insurance agent earning $63,888 nominally has purchasing power equivalent to $64,861 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$50,439
2025 BLS Actual
$61,668
2026 Current Est.
$63,888
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Austin (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $50,439 | Actual |
| 2020 | $51,667 | Actual |
| 2021 | $49,350 | Actual |
| 2022 | $57,291 | Actual |
| 2023 | $58,499 | Actual |
| 2024 | $63,352 | Actual |
| 2025 | $61,668 | Actual |
| 2026(current) | $63,888 | Estimated |
| 2027 | $66,188 | Projected |
Based on 7 years of BLS OEWS data for the Austin metropolitan area, the median insurance agent salary grew 22.3% from $50,439 (2019) to $61,668 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $66,188 by 2027 — a total increase of $15,749 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Austin 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) | $37,535 – $47,097 |
| 3-5 years (Mid Career) | $47,097 – $63,888 |
| 5+ years (Experienced) | $63,888 – $81,777 |
| 10+ years (Top Earner) | $81,777 – $99,026 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Austin
The job market for insurance agents in Austin is relatively small, with only four agents currently employed in the area. Despite this limited number, the cost of living index in Austin stands at 98.5, which is slightly below the national average, meaning that agents may find their purchasing power has greater relevance here. Employers that tend to offer higher salaries include national carriers and large brokerage firms focusing on commercial lines, as these sectors often provide more substantial commission structures compared to personal lines sales. The earnings potential also fluctuates based on factors like the book of business size and whether agents focus on commercial or personal lines. Strategies for maximizing pay in this distinctive market include pursuing specialization in commercial insurance, expanding networks to increase book size, and staying current with state licensing and relevant credentials, such as the CPCU designation.
More salary data for Austin, MN:
Frequently Asked Questions
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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 $61,668 for insurance agentsin the Austin 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 Austin 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