What does a Family Medicine Physicians salary really buy you in New Jersey?
New Jersey is 8.8% pricier than the US averageData: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-04-02
New Jersey's Regional Price Parity (RPP) is 108.8, meaning prices are 8.8% higher the national average. A Family Medicine Physicians earning $214,410 in New Jersey has the equivalent purchasing power of $197,068 in an average-cost US state.
While $214,410 sounds high, New Jersey's elevated cost of living erases 8% of that salary's purchasing power. Your real buying power is $197,068. Consider whether the higher pay offsets the higher costs.
Where does Family Medicine Physicians salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.
New Jersey ranks #24 out of 32 states for Family Medicine Physicians after cost-of-living adjustment.
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How much do you actually take home? See Family Medicine Physicians take-home pay in New Jersey after taxes →
A Family Medicine Physicians in New Jersey earns a median salary of $214,410 per year. After adjusting for New Jersey's cost of living (RPP=108.8), the real purchasing power is $197,068 — a -8.1% difference.
New Jersey's cost of living is 8.8% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for New Jersey is 108.8 (US average = 100).
Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.
The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Family Medicine Physicians in New Jersey: $214,410 x (100 / 108.8) = $197,068. This represents what the salary would be worth in a state with average living costs.
Partially — a Family Medicine Physicians's nominal salary of $214,410 in New Jersey has 8.1% less purchasing power due to higher living costs. The real value is $197,068. However, New Jersey may offer better career opportunities, networking, and industry access.