Insurance Agent Salary in Parma, OH: $62,559 (2026)
Quick Answer:A full-time insurance agent in Parma, OH earns a median $62,559/year (≈ $30.08/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 41-3021). Once you factor in Parma's price level (9% below national, BEA RPP 90.7), that paycheck buys what $68,974 would nationally. Nominal pay sits 0.8% above the Ohio state average.
Based on BLS state-level estimates · View source
In 2026, the typical compensation for insurance agents in Parma, Ohio, reaches a median annual salary of $62,559, slightly trailing the national average of $64,522. Local salary estimates show a wide range of earnings, from $37,044 at the 10th percentile to $96,966 at the 90th percentile, highlighting the variability in pay. This divergence can often be attributed to the agent's focus on personal lines versus commercial or specialty lines, as well as their employment model—captive agents often have different earning potentials compared to independent brokers. With adjustments based on the cost of living in Parma, which sits at 90.7 on the index, these figures paint a clear picture of insurance agent salaries in the area and provide insight into its competitive job market.
About the Parma Market
Salary estimated from Ohio average ($58,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $37,044 | $17.81 |
| Lower Range (P25) | $46,272 | $22.24 |
| Median (P50)(typical) | $62,559 | $30.08 |
| Upper Range (P75) | $80,076 | $38.50 |
| Top Earners (P90) | $96,966 | $46.62 |
Median Salary Position
3.04% below the national average
2026 Salary Percentile Distribution in Parma
In Parma, OH, the insurance agent salary spread from the 10th to 90th percentile is $59,922 (2026 est.). At $62,559, the local median is 3.04% below the national median of $64,522.
Salary Calculator
At 40 hours/week in Parma: You'd be in the lower-middle range
How Parma Insurance Agent Pay Compares
Parma median: $62,559/year (2026)
| Compared To | Median Salary | Parma Pays |
|---|---|---|
| Ohio Average | $62,062 | +0.80% more |
| National Average | $64,522 | -3.04% less |
Insurance Agents in Parma, OH earn a median of $62,559 per year (2026 est.), which is 3.04% lower than the national median of $64,522 and 0.80% above the Ohio state average of $62,062.
Cost-of-Living Adjusted Salary
Parma has a cost of living 9.30% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Parma, OH has a cost-of-living index of 90.7 (below the national average of 100). A insurance agent earning $62,559 nominally has purchasing power equivalent to $68,974 in an average-cost city — an effective 10.25% boost.
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2019 BLS Actual
$49,390
2025 BLS Actual
$60,385
2026 Current Est.
$62,559
2019–2027 Growth
+31.2%
Salary Trajectory for Insurance Agents in Parma (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.60% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $49,390 | Actual |
| 2020 | $50,592 | Actual |
| 2021 | $48,324 | Actual |
| 2022 | $56,099 | Actual |
| 2023 | $57,282 | Actual |
| 2024 | $53,028 | Actual |
| 2025 | $60,385 | Actual |
| 2026(current) | $62,559 | Estimated |
| 2027 | $64,811 | Projected |
Based on 7 years of BLS OEWS data for the Parma metropolitan area, the median insurance agent salary grew 22.3% from $49,390 (2019) to $60,385 (2025). At a 3.60% compound annual growth rate, salaries are projected to reach $64,811 by 2027 — a total increase of $15,421 (31.22%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Parma 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) | $37,044 – $46,272 |
| 3-5 years (Mid Career) | $46,272 – $62,559 |
| 5+ years (Experienced) | $62,559 – $80,076 |
| 10+ years (Top Earner) | $80,076 – $96,966 |
Agent salary ranges estimated from BLS percentile data. Individual insurance agent compensation varies by employer, certifications, and specialization.
Insurance Agent Job Market in Parma
Parma's local job market for insurance agents currently employs 12 professionals, a figure that reflects both the demand for services and the competitive landscape in this area. With a cost of living index below the national average, agents may find that their purchasing power is more favorable despite lower average salaries compared to larger markets. Among active employers, captive agents at established firms like State Farm and Allstate tend to offer robust initial compensation, including benefits and training incentives, while independent agencies and larger commercial brokerages may provide higher long-term earning potential due to lucrative commission structures on commercial lines. Key factors contributing to income variability include the size of the book of business, whether agents are selling personal versus commercial lines, and whether they operate under a captive or independent model. To maximize earnings in Parma, agents should consider diversifying their offerings, focusing on commercial lines to increase commissions, and pursuing advanced industry credentials like CPCU that enhance credibility and expertise among clients.
More salary data for Parma, OH:
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 $60,385 for insurance agentsin the Parma 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 Parma 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