salaryRent is lower than in 63% of U.S. cities. A typical house costs about 4.9 years of household income. Most homes (89.7%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $56,360 a year. That is $27 an hour at a full-time job.
Is rent cheaper than other North Carolina cities?
Yes. Rent here is cheaper than in most of North Carolina. It is number 71 of 164 cities from cheapest to most expensive.
How much do households earn in Oak Island?
Share of households by yearly income. 34.9% of households earn $100,000 or more.
Rent by apartment size in Oak Island
| Size | Oak Island | U.S. average |
|---|---|---|
| 2 bedrooms | $1,476 | $1,509 |
| 3 bedrooms | $1,516 | $1,698 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Oak Island overall?
Everyday prices in North Carolina overall are 6% below the U.S. average (index 94.3, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Oak Island, so the North Carolina figure is shown.
Taxes and bills in Oak Island
Life in Oak Island
Is it cheaper to rent or buy in Oak Island?
Renting is cheaper right now: about $1,758 a month less.
Owning assumes a typical $456,500 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $45,650 for the down payment.
Frequently asked questions
What is the average rent in Oak Island, NC?
Renting in Oak Island costs a median of about $1,409 a month in 2026, including utilities. The North Carolina median is $1,496.
How much do I need to make to live in Oak Island?
To keep rent under 30% of income, you need about $56,360 a year, or $27 an hour at a full-time job.
Is Oak Island cheap or expensive?
Oak Island is rated Cheap: rent takes 18.3% of the typical household income of $92,613. It ranks 71st cheapest of 164 North Carolina cities we track.
How much are property taxes in Oak Island?
The median homeowner in Oak Island pays $3,156 a year in property taxes, about 0.69% of the median home value.
Is Oak Island more expensive than the national average?
Overall prices in North Carolina are 6% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Oak Island?
The median home value in Oak Island is $456,500, about 4.9 times the typical yearly household income.
9,030 people live in Oak Island. Numbers are typical (middle) values.