Family Medicine Physicians Salary in New York: Cost of Living Adjusted (2024)

What does a Family Medicine Physicians salary really buy you in New York?

New York is 7.6% pricier than the US average

Data: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-03-31

Nominal Salary

$214,790

Median annual (2024)

→ -7.1%

Real Purchasing Power

$199,618

COL-adjusted (RPP=107.6)

New York Cost of Living Index

New York's Regional Price Parity (RPP) is 107.6, meaning prices are 7.6% higher the national average. A Family Medicine Physicians earning $214,790 in New York has the equivalent purchasing power of $199,618 in an average-cost US state.

NY: 107.6

Cheapest (~85) US Avg (100) Priciest (~115)

Key Insight

While $214,790 sounds high, New York's elevated cost of living erases 7% of that salary's purchasing power. Your real buying power is $199,618. Consider whether the higher pay offsets the higher costs.

Best States for Family Medicine Physicians (After Cost of Living)

Where does Family Medicine Physicians salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.

1. Mississippi

$265,269

RPP 87.3

2. Kansas

$263,555

RPP 90.0

3. South Carolina

$253,151

RPP 93.6

4. Tennessee

$249,509

RPP 91.8

5. South Dakota

$247,113

RPP 88.0

6. Oklahoma

$246,869

RPP 88.8

7. North Carolina

$241,305

RPP 94.2

8. Ohio

$241,092

RPP 91.5

9. Delaware

$240,775

RPP 98.0

10. Missouri

$238,188

RPP 91.1

New York ranks #22 out of 24 states for Family Medicine Physicians after cost-of-living adjustment.

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Frequently Asked Questions

What is the real salary for a Family Medicine Physicians in New York after cost of living?

A Family Medicine Physicians in New York earns a median salary of $214,790 per year. After adjusting for New York's cost of living (RPP=107.6), the real purchasing power is $199,618 — a -7.1% difference.

Is New York expensive to live in?

New York's cost of living is 7.6% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for New York is 107.6 (US average = 100).

What are Regional Price Parities (RPP)?

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.

How is the cost-of-living adjusted salary calculated?

The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Family Medicine Physicians in New York: $214,790 x (100 / 107.6) = $199,618. This represents what the salary would be worth in a state with average living costs.

Does the high cost of living in New York offset the salary?

Partially — a Family Medicine Physicians's nominal salary of $214,790 in New York has 7.1% less purchasing power due to higher living costs. The real value is $199,618. However, New York may offer better career opportunities, networking, and industry access.