5. North Carolina
Annual median wage: $214,300
Cost of living: 94.2
Employment: 570
Up next in our list of best states for psychiatrists is North Carolina that capitalizes on tourism with its long line of beaches and other outdoor attractions loved by locals and tourists alike. There are also tons of employment opportunities for various industries, including for psychiatrists. The state also has low cost of living rates, which means you get to enjoy most of your pay, instead of it only getting spent on your house rent and other basic needs.