Medical Transcriptionists Salary

It’s a stretch — at the median salary of $45K, rent takes 46.5% of take-home pay. A 2-bedroom at the HUD Fair Market Rent runs $1,407/month. The 30% guideline puts the comfortable ceiling at roughly $900/month in rent — so roommates or a 1-bedroom would ease the math significantly.

The 10th-percentile wage — what new medical transcriptionists typically earn — is $32K/year. Take-home on that works out to about $1,906/month. At HUD’s $1,407/month FMR, rent would take 74% of that take-home — above the 30% guideline, so a 1-bedroom or shared housing is likely necessary starting out.

Local pay is 13% above the national median — $45K here vs. $40K nationally.

Illinois pays $45K median vs. the U.S. average of $40K — that’s +13%. After adjusting for local cost of living (RPP 93.85), the purchasing-power equivalent is $48K — still ahead of the national median.

The median is $45,490 a year, that works out to about $22 an hour. But the range is wide: entry-level workers start around $31,760, and experienced medical transcriptionists can clear $55,070. These are BLS numbers, based on employer-reported data, not self-reported surveys.

On that salary, you'd take home roughly $3,028/month after taxes. A 2-bedroom here rents for about $1,407/month, which eats 46.5% of your paycheck. That's above the 30% rule of thumb, housing will be a stretch at the median salary, though you can manage with roommates or a smaller place.

Illinois has a Regional Price Parity of 93.85 (100 is the national average). That's below average, your money stretches further here than the raw salary number suggests. After cost-of-living adjustment, the median medical transcriptionists salary is worth about $48,471 in national-average purchasing power.

The table above ranks every state by median pay for this role. Keep in mind that the highest-paying states tend to have the highest costs of living, so the top salary doesn't always mean the most money in your pocket.