Ocracoke, NC is a small but vibrant community located on Ocracoke Island in Hyde County. It is known for its laid-back atmosphere and beautiful beaches. The cost of living in Ocracoke is relatively low compared to other parts of North Carolina and the United States as a whole. For example, 2 bedroom rentals average around $1,200 per month, while in the US they typically run about $1,430. The Grocery Cost Index in Ocracoke also stands at 96 versus 100 in the US.
Some businesses that serve the residents of Ocracoke include King's Market & Deli, Good Winds Restaurant and Bar, and Teach's Lair Marina Ship Store. All three businesses provide residents with necessary goods and services in addition to creating job opportunities within the community. Overall, Ocracoke is an attractive place to live due to its relaxed lifestyle and lower cost of living relative to other areas nearby.
Ocracoke has an unemployment rate of 8.4%. The US average is 6.0%.
Ocracoke has seen the job market decrease by -1.2% over the last year. Future job growth over the next ten years is predicted to be 14.4%, which is lower than the US average of 33.5%.
Tax Rates for Ocracoke
- The Sales Tax Rate for Ocracoke is 6.8%. The US average is 7.3%.
- The Income Tax Rate for Ocracoke 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 Ocracoke
- The average income of a Ocracoke resident is $29,270 a year. The US average is $28,555 a year.
- The Median household income of a Ocracoke resident is $61,591 a year. The US average is $69,021 a year.