Pharmacist Salary in Elk River, MN: $156,644 (2026)
Quick Answer:A full-time pharmacist in Elk River, MN earns a median $156,644/year (≈ $75.31/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 29-1051). Once you factor in Elk River's price level (1% below national, BEA RPP 98.5), that paycheck buys what $159,029 would nationally. Nominal pay sits 2.0% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, the compensation for pharmacists in Elk River, Minnesota, is projected to reach a median of $156,644, reflecting the specialty and hospital settings' demand for skilled professionals, particularly those with residency training. The salary range spans from $118,721 at the 10th percentile to $194,985 at the 90th percentile. These estimates, derived from 2025 BLS data adjusted for regional living costs, indicate a healthy job market for those considering careers in pharmacy. With pharmacist pay in Elk River outpacing the national median of $143,489 by 9.17%, candidates are likely to find competitive opportunities, especially in healthcare settings looking for advanced qualifications.
About the Elk River Market
Salary estimated from Minnesota average ($138,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $118,721 | $57.08 |
| Lower Range (P25) | $148,484 | $71.38 |
| Median (P50)(typical) | $156,644 | $75.31 |
| Upper Range (P75) | $172,949 | $83.14 |
| Top Earners (P90) | $194,985 | $93.74 |
Median Salary Position
9.17% above the national average
2026 Salary Percentile Distribution in Elk River
In Elk River, MN, the pharmacist salary spread from the 10th to 90th percentile is $76,264 (2026 est.). At $156,644, the local median is 9.17% above the national median of $143,489.
Salary Calculator
At 40 hours/week in Elk River: You'd be above the median
How Elk River Pharmacist Pay Compares
Elk River median: $156,644/year (2026)
| Compared To | Median Salary | Elk River Pays |
|---|---|---|
| Minnesota Average | $159,841 | -2.00% less |
| National Average | $143,489 | +9.17% more |
Pharmacists in Elk River, MN earn a median of $156,644 per year (2026 est.), which is 9.17% higher than the national median of $143,489 and 2.00% below the Minnesota state average of $159,841.
Cost-of-Living Adjusted Salary
Elk River has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Elk River, MN has a cost-of-living index of 98.5 (below the national average of 100). A pharmacist earning $156,644 nominally has purchasing power equivalent to $159,029 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$139,834
2025 BLS Actual
$153,829
2026 Current Est.
$156,644
2019–2027 Growth
+14.1%
Salary Trajectory for Pharmacists in Elk River (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 1.83% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $139,834 | Actual |
| 2020 | $140,510 | Actual |
| 2021 | $140,358 | Actual |
| 2022 | $144,921 | Actual |
| 2023 | $148,502 | Actual |
| 2024 | $133,176 | Actual |
| 2025 | $153,829 | Actual |
| 2026(current) | $156,644 | Estimated |
| 2027 | $159,511 | Projected |
Based on 7 years of BLS OEWS data for the Elk River metropolitan area, the median pharmacist salary grew 10.0% from $139,834 (2019) to $153,829 (2025). At a 1.83% compound annual growth rate, salaries are projected to reach $159,511 by 2027 — a total increase of $19,677 (14.07%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Elk River metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 1.83% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $118,721 – $148,484 |
| 3-5 years (Mid Career) | $148,484 – $156,644 |
| 5+ years (Experienced) | $156,644 – $172,949 |
| 10+ years (Top Earner) | $172,949 – $194,985 |
PharmD salary ranges estimated from BLS percentile data. Individual pharmacist compensation varies by employer, certifications, and specialization.
Pharmacist Job Market in Elk River
With only four pharmacists currently employed in Elk River, the local job market remains stable but tight. The cost of living index stands at 98.5, slightly below the national average, suggesting that take-home salaries may stretch further in this community. Employers offering higher compensation include accredited hospital pharmacies and specialty services, which often provide greater financial rewards compared to retail settings like CVS or Walgreens. Factors contributing to the salary range include variations in job settings, board certification stipends, and the influence of shift differentials, particularly for roles requiring overnight coverage. As the retail pharmacy segment experiences layoffs and consolidations, especially among larger chains, graduates and current professionals might consider pursuing hospital-based positions or seeking board certifications to maximize their earning potential in Elk River's evolving market.
More salary data for Elk River, MN:
Frequently Asked Questions
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Written by Sofia Chen, PharmD
Career Analyst
Sofia Chen has 10 years of experience in community pharmacy. She specializes in medication therapy management.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $153,829 for pharmacistsin the Elk River metropolitan area. A 1.83% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Elk River is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 1.83%, derived from historical BLS wage trends for pharmacists (SOC 29-1051).
Compiled and verified by Sofia Chen, PharmD, a licensed pharmacist with 10+ years of clinical experience. · View source data at BLS.gov