Cost Of Living in Oak Island, NC

Get 300+ Local Insights for Any Address in Oak Island, NC

Get Access to 300+ Local Data Points

C

10%

Overall NAT. AVG.

3%

Goods & Services NAT. AVG.

33%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Oak Island	North Carolina	National
Cost of living	110	94	100
Goods & Services	97	98	100
Groceries	102	98	100
Health care	89	108	100
Housing	133	85	100
Transportation	88	92	100
Utilities	121	94	100

Does this Area Fit Your Budget?

Know the community before you call it home
Compare multiple areas side by side
Access over 300 data points for any address

GET REPORT →

Cost Of Living Quick Facts

The cost of living in Oak Island is 17% higher than the North Carolina average
The cost of living in Oak Island is 10% higher than the national average
Oak Island housing is 33% higher than the national average
North Carolina general sales tax is 7% lower than the national average
North Carolina state income tax is 83% higher than the national average

Most Affordable Places to Live in and Around Oak Island

See all the best places to live around Oak Island

Compare Oak Island, NC Cost of Living

Compare Neighborhoods & Addresses

Why stop at city-to-city? With Local Insights, you can compare neighborhoods, zip codes, or even exact addresses. Access 300+ hyperlocal data points—from schools and crime to housing and amenities—to see which area is the better fit.

UNLOCK FULL COMPARISON →

Write a review to give others more information about this area.

See all Oak Island poll results

The best places in North Carolina

Here are the best places to live in North Carolina

Most Dangerous Cities In The US

Most Dangerous States In The US

Safest States In The US

Salary Calculator

This is how much you would need to earn in

Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$80,290	$6,691	$1,873	$2,409
Renters	$60,114	$5,010	$1,403	$1,804

The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Oak Island, NC, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Oak Island homeowners, is $80,290. This would allow for a maximum of $1,873 per month to be spent on housing costs. For renters, the median monthly income is $60,114 which would result in a maximum of $1,403 to be spent on rental costs.

North Carolina Sales Tax

State	General Sales Tax	With Max Surtax
North Carolina	4.75%	7.5%

North Carolina Income Tax

State	Income Tax (Low)	Income Tax (High)
North Carolina	4.75%	4.75%

Goods & Services

Item	Oak Island	National avg.	Difference
Haircut	$26.38	$24.26	8.7%
Beauty Salon	$56.15	$45.56	23.2%
Toothpaste	$3.77	$3.70	1.8%
Shampoo	$1.38	$1.28	7.5%
Movie	$11.30	$12.13	6.8%
Bowling	$19.43	$18.00	8.0%

Groceries

Item	Oak Island	National avg.	Difference
Ground Beef	$6.22	$5.84	6.5%
Fried Chicken	$1.67	$1.57	6.2%
Milk	$4.59	$4.67	1.8%
Potatoes	$5.51	$4.93	11.6%
Pizza	$10.83	$12.09	10.4%
Beer	$10.61	$10.41	1.9%

Health Care

Item	Oak Island	National avg.	Difference
Optometrist	$78.10	$125.68	37.9%
Doctor	$137.50	$135.78	1.3%
Dentist	$97.17	$113.29	14.2%
Ibuprofen	$10.75	$10.65	0.9%
Lipitor	$373.44	$468.60	20.3%

Housing

Item	Oak Island	National avg.	Difference
Home Price	$259,500.00	$184,700.00	40.5%
Avg. Mortgage Payment	$2,134.33	$2,346.69	9.0%
Apartment Rent	$1,097.00	$949.00	15.6%

Transportation

Item	Oak Island	National avg.	Difference
Gasoline	$3.18	$3.46	8.0%
Tire Balancing	$46.64	$59.92	22.2%

Utilities

Item	Oak Island	National avg.	Difference
All Electricity	$258.50	$193.99	33.3%
Phone	$194.25	$192.25	1.0%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Varnamtown, NC	776	96	4.5%
Boiling Spring Lakes, NC	6,156	99	1.1%
Shallotte, NC	4,205	102	1.6%
Southport, NC	3,860	109	8.7%
Bolivia, NC	177	109	8.7%
Oak Island, NC	8,118	110	9.7%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Croton-on-Hudson, NY	8,121	161	60.9%
Island Lake, IL	8,112	109	8.7%
Oradell, NJ	8,126	173	72.6%
North Bay Village, FL	8,108	127	26.9%
Irondale, GA	8,107	90	10.0%
Oak Island, NC	8,118	110	9.7%