diff --git a/.github/workflows/code-checks.yml b/.github/workflows/code-checks.yml
index d4a2bedcfba1a..7d24b26f5538b 100644
--- a/.github/workflows/code-checks.yml
+++ b/.github/workflows/code-checks.yml
@@ -74,7 +74,7 @@ jobs:
 
     - name: Install pyright
       # note: keep version in sync with .pre-commit-config.yaml
-      run: npm install -g pyright@1.1.245
+      run: npm install -g pyright@1.1.247
 
     - name: Build Pandas
       id: build
diff --git a/.pre-commit-config.yaml b/.pre-commit-config.yaml
index fac09fcf70511..9469a34c8aacd 100644
--- a/.pre-commit-config.yaml
+++ b/.pre-commit-config.yaml
@@ -89,7 +89,7 @@ repos:
         types: [python]
         stages: [manual]
         # note: keep version in sync with .github/workflows/code-checks.yml
-        additional_dependencies: ['pyright@1.1.245']
+        additional_dependencies: ['pyright@1.1.247']
 -   repo: local
     hooks:
     -   id: flake8-rst
diff --git a/doc/source/whatsnew/v1.5.0.rst b/doc/source/whatsnew/v1.5.0.rst
index 9f1c4755bc54f..128fd68674f96 100644
--- a/doc/source/whatsnew/v1.5.0.rst
+++ b/doc/source/whatsnew/v1.5.0.rst
@@ -360,7 +360,7 @@ If installed, we now require:
 +-----------------+-----------------+----------+---------+
 | Package         | Minimum Version | Required | Changed |
 +=================+=================+==========+=========+
-| mypy (dev)      | 0.941           |          |    X    |
+| mypy (dev)      | 0.950           |          |    X    |
 +-----------------+-----------------+----------+---------+
 
 
diff --git a/environment.yml b/environment.yml
index dc3cba3be2132..b4710e252384c 100644
--- a/environment.yml
+++ b/environment.yml
@@ -24,7 +24,7 @@ dependencies:
   - flake8-bugbear=21.3.2  # used by flake8, find likely bugs
   - flake8-comprehensions=3.7.0  # used by flake8, linting of unnecessary comprehensions
   - isort>=5.2.1  # check that imports are in the right order
-  - mypy=0.941
+  - mypy=0.950
   - pre-commit>=2.9.2
   - pycodestyle  # used by flake8
   - pyupgrade
diff --git a/pandas/_config/localization.py b/pandas/_config/localization.py
index 2a487fa4b6877..2e1ef31033d71 100644
--- a/pandas/_config/localization.py
+++ b/pandas/_config/localization.py
@@ -45,7 +45,9 @@ def set_locale(
         locale.setlocale(lc_var, new_locale)
         normalized_locale = locale.getlocale()
         if all(x is not None for x in normalized_locale):
-            yield ".".join(normalized_locale)
+            # error: Argument 1 to "join" of "str" has incompatible type
+            # "Tuple[Optional[str], Optional[str]]"; expected "Iterable[str]"
+            yield ".".join(normalized_locale)  # type: ignore[arg-type]
         else:
             yield new_locale
     finally:
diff --git a/pandas/_libs/tslibs/timestamps.pyi b/pandas/_libs/tslibs/timestamps.pyi
index 13daba5cfcbdf..4be9621a594dc 100644
--- a/pandas/_libs/tslibs/timestamps.pyi
+++ b/pandas/_libs/tslibs/timestamps.pyi
@@ -113,7 +113,7 @@ class Timestamp(datetime):
     def time(self) -> _time: ...
     def timetz(self) -> _time: ...
     def replace(
-        self,
+        self: _DatetimeT,
         year: int = ...,
         month: int = ...,
         day: int = ...,
@@ -123,7 +123,7 @@ class Timestamp(datetime):
         microsecond: int = ...,
         tzinfo: _tzinfo | None = ...,
         fold: int = ...,
-    ) -> datetime: ...
+    ) -> _DatetimeT: ...
     def astimezone(self: _DatetimeT, tz: _tzinfo | None = ...) -> _DatetimeT: ...
     def ctime(self) -> str: ...
     def isoformat(self, sep: str = ..., timespec: str = ...) -> str: ...
diff --git a/pandas/core/arrays/masked.py b/pandas/core/arrays/masked.py
index a7bb9520841b6..3616e3512c6fe 100644
--- a/pandas/core/arrays/masked.py
+++ b/pandas/core/arrays/masked.py
@@ -957,7 +957,7 @@ def equals(self, other) -> bool:
         return array_equivalent(left, right, dtype_equal=True)
 
     def _quantile(
-        self: BaseMaskedArrayT, qs: npt.NDArray[np.float64], interpolation: str
+        self, qs: npt.NDArray[np.float64], interpolation: str
     ) -> BaseMaskedArray:
         """
         Dispatch to quantile_with_mask, needed because we do not have
diff --git a/pandas/io/parsers/base_parser.py b/pandas/io/parsers/base_parser.py
index 2851ea36c8a33..97ec297db8ba8 100644
--- a/pandas/io/parsers/base_parser.py
+++ b/pandas/io/parsers/base_parser.py
@@ -7,6 +7,7 @@
 from enum import Enum
 import itertools
 from typing import (
+    Any,
     Callable,
     DefaultDict,
     Hashable,
@@ -1027,26 +1028,14 @@ def _get_empty_meta(
         # Convert `dtype` to a defaultdict of some kind.
         # This will enable us to write `dtype[col_name]`
         # without worrying about KeyError issues later on.
+        dtype_dict: defaultdict[Hashable, Any]
         if not is_dict_like(dtype):
             # if dtype == None, default will be object.
             default_dtype = dtype or object
-            # error: Argument 1 to "defaultdict" has incompatible type "Callable[[],
-            # Union[ExtensionDtype, str, dtype[Any], Type[object], Dict[Hashable,
-            # Union[ExtensionDtype, Union[str, dtype[Any]], Type[str], Type[float],
-            # Type[int], Type[complex], Type[bool], Type[object]]]]]"; expected
-            # "Optional[Callable[[], Union[ExtensionDtype, str, dtype[Any],
-            # Type[object]]]]"
-            # error: Incompatible return value type (got "Union[ExtensionDtype, str,
-            # dtype[Any], Type[object], Dict[Hashable, Union[ExtensionDtype, Union[str,
-            # dtype[Any]], Type[str], Type[float], Type[int], Type[complex], Type[bool],
-            # Type[object]]]]", expected "Union[ExtensionDtype, str, dtype[Any],
-            # Type[object]]")
-            dtype = defaultdict(
-                lambda: default_dtype  # type: ignore[arg-type, return-value]
-            )
+            dtype_dict = defaultdict(lambda: default_dtype)
         else:
             dtype = cast(dict, dtype)
-            dtype = defaultdict(
+            dtype_dict = defaultdict(
                 lambda: object,
                 {columns[k] if is_integer(k) else k: v for k, v in dtype.items()},
             )
@@ -1063,14 +1052,16 @@ def _get_empty_meta(
         if (index_col is None or index_col is False) or index_names is None:
             index = Index([])
         else:
-            data = [Series([], dtype=dtype[name]) for name in index_names]
+            data = [Series([], dtype=dtype_dict[name]) for name in index_names]
             index = ensure_index_from_sequences(data, names=index_names)
             index_col.sort()
 
             for i, n in enumerate(index_col):
                 columns.pop(n - i)
 
-        col_dict = {col_name: Series([], dtype=dtype[col_name]) for col_name in columns}
+        col_dict = {
+            col_name: Series([], dtype=dtype_dict[col_name]) for col_name in columns
+        }
 
         return index, columns, col_dict
 
diff --git a/requirements-dev.txt b/requirements-dev.txt
index a3f71ac2a3aa5..0f1d76b996df1 100644
--- a/requirements-dev.txt
+++ b/requirements-dev.txt
@@ -12,7 +12,7 @@ flake8==4.0.1
 flake8-bugbear==21.3.2
 flake8-comprehensions==3.7.0
 isort>=5.2.1
-mypy==0.941
+mypy==0.950
 pre-commit>=2.9.2
 pycodestyle
 pyupgrade