What does a Psychiatrists salary really buy you in Illinois?
Illinois is near the US average cost of livingData: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-04-02
Illinois's Regional Price Parity (RPP) is 101.3, meaning prices are 1.3% higher the national average. A Psychiatrists earning $171,370 in Illinois has the equivalent purchasing power of $169,170 in an average-cost US state.
Illinois's cost of living is close to the national average, so $171,370 keeps most of its value at $169,170 in real terms. Location choice here is more about career opportunities than cost arbitrage.
Where does Psychiatrists salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.
Illinois ranks #15 out of 22 states for Psychiatrists after cost-of-living adjustment.
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How much do you actually take home? See Psychiatrists take-home pay in Illinois after taxes →
A Psychiatrists in Illinois earns a median salary of $171,370 per year. After adjusting for Illinois's cost of living (RPP=101.3), the real purchasing power is $169,170 — a -1.3% difference.
Illinois's cost of living is 1.3% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for Illinois is 101.3 (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 Psychiatrists in Illinois: $171,370 x (100 / 101.3) = $169,170. This represents what the salary would be worth in a state with average living costs.