Oak Island, NC is a great place to live. It has an affordable cost of living with 2-bedroom rent being only $1,100 per month compared to the national average of $1,430. The Grocery Cost Index in Oak Island is 102 compared to the US average of 100. Local companies include Westgate Resorts, OI Excavation and Construction, and Sumner Construction Company. Other businesses that are prominent in the area are banks, restaurants, gas stations, and retail stores. Furthermore, Oak Island is home to many local parks and beaches providing plenty of outdoor activities for residents and visitors alike.
Oak Island has an unemployment rate of 5.8%. The US average is 6.0%.
Oak Island has seen the job market increase by 2.7% over the last year. Future job growth over the next ten years is predicted to be 42.8%, which is higher than the US average of 33.5%.
Tax Rates for Oak Island
- The Sales Tax Rate for Oak Island is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Oak Island is 5.5%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Oak Island
- The average income of a Oak Island resident is $30,462 a year. The US average is $28,555 a year.
- The Median household income of a Oak Island resident is $85,802 a year. The US average is $69,021 a year.