Oak Island, NC Cost Of Living
Cost Of Living In Oak Island, NC Summary
Cost of living in Oak Island research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Oak Island is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Oak Island is 108, with 100 being the average.
The cost of living index in Oak Island is 1.1x higher than the national average.
Oak Island ranks as the #127 cheapest in North Carolina out of 153.
Oak Island ranks as the #3,954 cheapest out of 6,412 in the US.
The median home value in Oak Island is $284,400.
The median income in Oak Island is $85,802.
Table Of Contents
Oak Island's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Oak Island, NC?
According to the most recent data on the cost of living, Oak Island has an overall cost of living index of 108, which is 1.1x higher than the national index of 100.
Compared to North Carolina, Oak Island has a cost of living index that's 1.1x higher than North Carolina's index of 95.
The standard of living in Oak Island ranks as #127 most affordable out of the 153 places we measured in North Carolina. By definition, that implies Oak Island ranks as the #26 most expensive place in the Tar Heel State.
For more reading on life in Oak Island, check out:
- Living In Oak Island
- Oak Island Crime Report
- Search Homes For Sale In Oak Island, NC
In North Carolina
In America
Oak Island Cost Of Living Vs. North Carolina
Six factors go into calculating the cost of living index in Oak Island. Here is how it fairs on each of the criteria:
The Services index in Oak Island is 103.
The Groceries index in Oak Island is 100.
The Health index in Oak Island is 107.
The Housing index in Oak Island is 127.
The Transportation index in Oak Island is 106.
The Utilities index in Oak Island is 102.
| Living Expense | Oak Island | North Carolina | National Average | |
|---|---|---|---|---|
| Overall | 108 | 95 | 100 | |
| Services | 103 | 97 | 100 | |
| Groceries | 100 | 98 | 100 | |
| Health | 107 | 108 | 100 | |
| Housing | 127 | 91 | 100 | |
| Transportation | 106 | 92 | 100 | |
| Utilities | 102 | 95 | 100 | |
Oak Island, NC Housing Cost Breakdown
Housing swings affordability the most between places in North Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Oak Island is $284,400.
The Median Rent in Oak Island is $1,098.
The Median Income in Oak Island is $85,802.
The Home Value To Income in Oak Island is 3.3x.
The Rent To Monthly Income in Oak Island is 0.15x.
| Statistic | Oak Island | North Carolina | United States |
|---|---|---|---|
| Median Home Value | $284,400 | $197,500 | $244,900 |
| Median Rent | $1,098 | $988 | $1,163 |
| Median Income | $85,802 | $60,516 | $69,021 |
| Home Value To Income | 3.3x | 3.3x | 3.5x |
| Rent To Monthly Income | 0.15x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Oak Island, NC Costs By Category
Detailed Oak Island Services Costs Vs. North Carolina
| Item | Oak Island | North Carolina |
|---|---|---|
| Shampoo | $1.07 | $1.06 |
| Movie | $10.35 | $10.68 |
| Bowling | $13.67 | $14.67 |
| Haircut | $15.0 | $18.62 |
| Beauty Salon | $42.5 | $39.05 |
Detailed Oak Island Groceries Costs Vs. North Carolina
| Item | Oak Island | North Carolina |
|---|---|---|
| Ground Beef | $4.32 | $4.22 |
| Fried Chicken | $1.48 | $1.39 |
| Milk | $2.58 | $2.05 |
| Potatoes | $4.3 | $3.29 |
| Pizza | $8.99 | $10.62 |
| Beer | $9.69 | $9.38 |
| Toothpaste | $3.23 | $2.34 |
Detailed Oak Island Health Costs Vs. North Carolina
| Item | Oak Island | North Carolina |
|---|---|---|
| Optometrist | $116.4 | $108.57 |
| Doctor | $121.67 | $116.17 |
| Dentist | $120.22 | $99.13 |
Detailed Oak Island Transportation Costs Vs. North Carolina
| Item | Oak Island | North Carolina |
|---|---|---|
| Gasoline | $2.5 | $2.22 |
| Tire Balancing | $63.96 | $50.07 |
Detailed Oak Island Utilities Costs Vs. North Carolina
| Item | Oak Island | North Carolina |
|---|---|---|
| All Electricity | $180.8 | $167.67 |
| Phone | $177.09 | $175.64 |
Oak Island SnackAbility
/10
Cost Of Living In Cities Around Oak Island
The cost of living varies in the cities and towns around Oak Island. Here's a quick look at the cost of living in the most populous nearby places:
Wilmington, NC has a cost of living index of 105, 1.0x Oak Island.
Leland, NC has a cost of living index of 103, 1.0x Oak Island.
Murraysville, NC has a cost of living index of 102, 0.9x Oak Island.
| City | Population | Cost Of Living | Vs. Oak Island |
|---|---|---|---|
| Wilmington, NC | 115,976 | 105 | 1.0x |
| Leland, NC | 22,794 | 103 | 1.0x |
| Murraysville, NC | 15,976 | 102 | 0.9x |
| Myrtle Grove, NC | 11,672 | 111 | 1.0x |
| Kings Grant, NC | 9,071 | 97 | 0.9x |
| Ogden, NC | 8,613 | 112 | 1.0x |
| Porters Neck, NC | 7,221 | 128 | 1.2x |
| Carolina Beach, NC | 6,456 | 117 | 1.1x |
| St. James, NC | 6,199 | 137 | 1.3x |
| Boiling Spring Lakes, NC | 5,863 | 98 | 0.9x |
