Oak Island, NC

Living costs in Oak Island land close to the national average, with a Cost Index of 108 (where 100 = the US baseline). Housing is the largest variable: the median home value here is $407,400, and typical monthly rents run around $1,208. Groceries and utilities are slightly below what you would find in most US cities.

Start with housing. Typical monthly rent is $1,208, while local median household income is $83,483. That implies a rent-burden proxy of about 17% before utilities and other costs. For a specific job offer, filing status, or take-home pay scenario, use salary.city.

North Carolina has a progressive state income tax with a top rate of 4.5%. The effective property tax rate is 0.84%. On a home worth $407,400, that translates to roughly $3,422 per year in property taxes. Sales tax (state + local) averages around 6.97% on everyday purchases.

The typical monthly rent in Oak Island is around $1,208. That's close to the $1,348 national median. For comparison, the median home value here is $407,400, so buyers should also factor in mortgage payments, property taxes, and insurance.

The median home in Oak Island is valued at $407,400. With 20% down and a 6.5% mortgage rate, you'd be looking at roughly $2,060/month for principal and interest alone — before property taxes and insurance. About 88% of residents here own their homes.

Grocery prices in Oak Island are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are below average (index: 88). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.

Oak Island is a small town with a population of about 8,888. The median age of residents is 61.5, skewing somewhat older — common in established suburban communities. The local poverty rate is 9.75%, near the national average of 12.4%.