Psychiatrists Salary in Massachusetts: Cost of Living Adjusted (2024)

What does a Psychiatrists salary really buy you in Massachusetts?

Massachusetts is 9.4% pricier than the US average

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

Nominal Salary

$221,160

Median annual (2024)

→ -8.6%

Real Purchasing Power

$202,157

COL-adjusted (RPP=109.4)

Massachusetts Cost of Living Index

Massachusetts's Regional Price Parity (RPP) is 109.4, meaning prices are 9.4% higher the national average. A Psychiatrists earning $221,160 in Massachusetts has the equivalent purchasing power of $202,157 in an average-cost US state.

MA: 109.4

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

Key Insight

While $221,160 sounds high, Massachusetts's elevated cost of living erases 9% of that salary's purchasing power. Your real buying power is $202,157. Consider whether the higher pay offsets the higher costs.

Best States for Psychiatrists (After Cost of Living)

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

1. Kentucky

$256,856

RPP 89.4

2. Nebraska

$255,278

RPP 89.8

3. Delaware

$241,571

RPP 98.0

4. Georgia

$239,237

RPP 95.8

5. Arkansas

$225,669

RPP 86.6

6. Mississippi

$223,608

RPP 87.3

7. New York

$212,434

RPP 107.6

8. Nevada

$210,435

RPP 96.4

9. Massachusetts

$202,157

RPP 109.4

10. New Hampshire

$196,440

RPP 107.6

Massachusetts ranks #9 out of 15 states for Psychiatrists after cost-of-living adjustment.

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Frequently Asked Questions

What is the real salary for a Psychiatrists in Massachusetts after cost of living?

A Psychiatrists in Massachusetts earns a median salary of $221,160 per year. After adjusting for Massachusetts's cost of living (RPP=109.4), the real purchasing power is $202,157 — a -8.6% difference.

Is Massachusetts expensive to live in?

Massachusetts's cost of living is 9.4% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for Massachusetts is 109.4 (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 Psychiatrists in Massachusetts: $221,160 x (100 / 109.4) = $202,157. This represents what the salary would be worth in a state with average living costs.

Does the high cost of living in Massachusetts offset the salary?

Partially — a Psychiatrists's nominal salary of $221,160 in Massachusetts has 8.6% less purchasing power due to higher living costs. The real value is $202,157. However, Massachusetts may offer better career opportunities, networking, and industry access.