Job Salary Guide · 2026
Psychiatrist Salary After Tax in Minneapolis
Based on BLS OEWS data · MN · Single filer
Psychiatrist Salary Range
25th Percentile
$180,000
Take-home:
$121,447
$10,121/mo
Entry to mid-level
Median
$226,000
Take-home:
$150,144
$12,512/mo
Typical salary
75th Percentile
$290,000
Take-home:
$185,122
$15,427/mo
Senior / specialist
Tax Breakdown
At median salary of $226,000
Cost of Living in Minneapolis
1BR Monthly Rent
$1,600/mo
2BR Monthly Rent
$2,050/mo
COL Index
1.17
Comfortable Rent Max
$3,128/mo
50 / 30 / 20 Budget Planner
Based on your monthly take-home of $12,512 ($150,144/yr)
$6,256
per month
- ›Rent / mortgage
- ›Groceries
- ›Utilities
- ›Insurance
- ›Minimum debt payments
- ›Transportation
$3,754
per month
- ›Dining out
- ›Streaming services
- ›Gym
- ›Hobbies
- ›Travel
- ›Shopping
$2,502
per month
- ›Emergency fund
- ›401(k) / IRA
- ›Investments
- ›Down payment fund
- ›Debt payoff (extra)
Needs / year
$75,072
Wants / year
$45,043
Savings / year
$30,029
Psychiatrist Salary in Other Cities
Frequently Asked Questions
What is the average Psychiatrist salary in Minneapolis?
The median Psychiatrist salary in Minneapolis (MN) is $226,000 per year based on BLS OEWS data. The 25th percentile is $180,000 and the 75th percentile is $290,000.
What is the take-home pay for a Psychiatrist in Minneapolis?
At the median salary of $226,000, a Psychiatrist in MN takes home approximately $150,144 per year ($12,512/month) after federal and state taxes. The effective tax rate is 33.56%.
Can a Psychiatrist afford rent in Minneapolis?
The average 1-bedroom rent in Minneapolis is $1,600/month. On the median Psychiatrist salary, your rent-to-income ratio is 12.8%, which is "Comfortable". Financial experts recommend keeping rent below 25–30% of take-home pay ($3,128/month at this salary).
How does cost of living affect Psychiatrist salaries in Minneapolis?
Minneapolis has a cost-of-living index of 1.17 (1.00 = national average). Minneapolis is 17% more expensive than the US average, which reduces the real purchasing power of the Psychiatrist salary.