Oak Island, TX is a small suburban town located near the Texas-Louisiana border. With its close proximity to the Gulf of Mexico, residents enjoy beautiful beaches and waterfront access. The cost of living in Oak Island is significantly lower than the US average, with a 2 bedroom rent being $960 compared to the US average of $1,430. Similarly, grocery costs are also significantly lower at an index of 96 compared to 100 in the US. There are several local businesses in Oak Island such as Blue Fin’s Seafood and Steak House, Noggy Doggy Hot Dogs & More, and Gunnery Road Grocery Store. All these businesses offer unique products and services that make life in Oak Island even more enjoyable for its residents.
Oak Island has an unemployment rate of 10.1%. The US average is 6.0%.
Oak Island has seen the job market decrease by -5.6% over the last year. Future job growth over the next ten years is predicted to be 33.9%, 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 0.0%. 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 $31,222 a year. The US average is $37,638 a year.
- The Median household income of a Oak Island resident is $0 a year. The US average is $69,021 a year.