Physical Therapist Salary in Carmel, IN: $105,391 (2026)
Quick Answer:A full-time physical therapist in Carmel, IN earns a median $105,391/year (≈ $50.67/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 29-1123). Once you factor in Carmel's price level (9% below national, BEA RPP 91.3), that paycheck buys what $115,434 would nationally. Nominal pay sits 4.5% above the Indiana state average.
Based on BLS state-level estimates · View source
In 2026, physical therapists in Carmel, Indiana, can expect a median annual salary of $105,391, reflecting a slight uptick over the national average of $105,288. The local salary range spans from $82,238 at the lower tenth percentile to $139,570 at the upper ninetieth percentile. These figures, derived from projections based on 2025 BLS data and adjusted for regional costs, suggest a competitive compensation landscape driven by various factors, including the type of employment setting. Those working in outpatient clinics often face productivity demands, while hospital systems may offer a more stable salary with better benefits, potentially influencing the earning potential based on the type of practice a physical therapist chooses to join.
About the Carmel Market
Salary estimated from Indiana average ($92,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $82,238 | $39.54 |
| Lower Range (P25) | $89,919 | $43.23 |
| Median (P50)(typical) | $105,391 | $50.67 |
| Upper Range (P75) | $125,310 | $60.25 |
| Top Earners (P90) | $139,570 | $67.10 |
Median Salary Position
0.10% above the national average
2026 Salary Percentile Distribution in Carmel
In Carmel, IN, the physical therapist salary spread from the 10th to 90th percentile is $57,332 (2026 est.). At $105,391, the local median is 0.1% above the national median of $105,288.
Salary Calculator
At 40 hours/week in Carmel: You'd be in the lower-middle range
How Carmel Physical Therapist Pay Compares
Carmel median: $105,391/year (2026)
| Compared To | Median Salary | Carmel Pays |
|---|---|---|
| Indiana Average | $100,853 | +4.50% more |
| National Average | $105,288 | +0.10% more |
Physical Therapists in Carmel, IN earn a median of $105,391 per year (2026 est.), which is 0.10% higher than the national median of $105,288 and 4.50% above the Indiana state average of $100,853.
Cost-of-Living Adjusted Salary
Carmel has a cost of living 8.70% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Carmel, IN has a cost-of-living index of 91.3 (below the national average of 100). A physical therapist earning $105,391 nominally has purchasing power equivalent to $115,434 in an average-cost city — an effective 9.53% boost.
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2019 BLS Actual
$89,528
2025 BLS Actual
$102,861
2026 Current Est.
$105,391
2019–2027 Growth
+20.6%
Salary Trajectory for Physical Therapists in Carmel (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 2.46% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $89,528 | Actual |
| 2020 | $91,099 | Actual |
| 2021 | $95,714 | Actual |
| 2022 | $97,816 | Actual |
| 2023 | $99,808 | Actual |
| 2024 | $82,428 | Actual |
| 2025 | $102,861 | Actual |
| 2026(current) | $105,391 | Estimated |
| 2027 | $107,984 | Projected |
Based on 7 years of BLS OEWS data for the Carmel metropolitan area, the median physical therapist salary grew 14.9% from $89,528 (2019) to $102,861 (2025). At a 2.46% compound annual growth rate, salaries are projected to reach $107,984 by 2027 — a total increase of $18,456 (20.61%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Carmel 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 2.46% 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) | $82,238 – $89,919 |
| 3-5 years (Mid Career) | $89,919 – $105,391 |
| 5+ years (Experienced) | $105,391 – $125,310 |
| 10+ years (Top Earner) | $125,310 – $139,570 |
PT salary ranges estimated from BLS percentile data. Individual physical therapist compensation varies by employer, certifications, and specialization.
Physical Therapist Job Market in Carmel
Examining the job market in Carmel reveals that with only 15 physical therapists employed locally, the competition for lucrative positions can be fierce. The area’s cost of living index stands at 91.3, which is below the national average, enhancing the purchasing power of local salaries. Among employers, outpatient orthopedic clinics like ATI and Athletico might offer lower base salaries compared to hospitals but could include bonuses tied to productivity, while skilled nursing facilities may provide steady positions with slightly higher pay. Variations in salary often arise from differing expectations regarding visit volumes and model practices, such as cash-based versus insurance-based systems. To maximize earnings in this local market, physical therapists should consider pursuing board certifications such as OCS or SCS and seek opportunities in higher-paying environments like specialized clinics and travel PT roles, which often provide significant premiums for flexibility.
More salary data for Carmel, IN:
Frequently Asked Questions
How much do physical therapists make in Carmel, IN in 2026?
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Can physical therapists make $100K in Carmel?
What is the cost-of-living adjusted physical therapist salary in Carmel?
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Written by Alex Morgan, DPT
Career Analyst
Alex Morgan has over 10 years of experience in physical therapy. They specialize in orthopedic rehabilitation. Alex works in a private practice setting.
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 $102,861 for physical therapistsin the Carmel metropolitan area. A 2.46% 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 Carmel 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 2.46%, derived from historical BLS wage trends for physical therapists (SOC 29-1123).
Compiled and verified by Alex Morgan, DPT, a licensed physical therapist with 10+ years of clinical experience. · View source data at BLS.gov