Oak Island, NC—28465
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Oak Island, NC
As of Oct '25, the median home price in Oak Island, NC is $588,000, with a year-over-year change of -1.4%. This indicates that home prices in Oak Island, NC are decreasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $588,000 | -1.4% |
| Single Family | $603,000 | -1.6% |
| Condos | $480,000 | -2.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $385,000 | -4.9% |
3 Bed | $561,000 | -1.4% |
4 Bed | $881,000 | -0.9% |
| 5 Bed | $1,331,000 | 0.2% |
% of Housing Stock
Rental Trends — Oak Island, NC
As of July '25, Rentcast reports the average rent in Oak Island, NC is $2,390, with a year-over-year rent change of -4.0%. Per bedroom, the median rent as of July '25 in Oak Island, NC is 2-bedrooms: $1,770, 3-bedrooms: $2,480, 4-bedrooms: $3,100. The most common rental property sizes in Oak Island, NC are 2-bedroom and 3-bedroom, accounting for 45.9% and 36.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,280 | $2,390 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,600 | $1,770 |
| 3 Bed Rent | $2,280 | $2,480 |
| 4 Bed Rent | $3,100 | $3,100 |
% of Rental Stock
Property Listings — Oak Island, NC
As of Oct '25, Realtor.com reports that the median days on market for a home in Oak Island, NC is 88. This is a increase of 11.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $755,000 | 9.0% |
Listing Count | 306 | 22.0% |
| Listings as % of Homes | 1.9% | 22.0% |
Days on Market | 88 | 11.0% |
Demographics — Oak Island, NC
As of the latest ACS Survey released in 2023, Oak Island, NC has a population of 8,690, which has increased by 19.8% over the past 5 years. Oak Island, NC is a less popular place for families, as children make up 8.0% of the population. The area has a moderately educated workforce, with 44.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 8,690 | 19.8% |
% Under 18 | 8.0% | -18.4% |
% Seniors | 38.3% | 12.0% |
% WFH | 20.7% | 146.4% |
% w/ College Degree | 44.6% | 6.4% |
As of the latest ACS Survey released in 2023, Oak Island, NC is a predominantly white area, with 94.4% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Oak Island, NC is hispanic, making up 1.4% of the population. Foreign-born residents account for 1.5% of the population in Oak Island, NC, and this percentage has decreased by 40.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.4% | -2.5% |
% Black | 0.7% | ∞% |
% Hispanic | 1.4% | -39.1% |
% Asian | 0.4% | 300.0% |
% Foreign Born | 1.5% | -40.0% |
Mortgage and Risk — Oak Island, NC
According to HUD data as of 2023, there were 595 mortgage originations in Oak Island, NC, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 10.0% above 90% LTV (elevated). This implies medium mortgage risk in Oak Island, NC. Investor activity is low, as 9.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 595 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 9.0% |
% Second Loans | 40.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Oak Island, NC
Oak Island, NC lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,230 |
| 2 Bedroom | -$240 | $1,600 | $1,360 |
| 3 Bedroom | -$370 | $2,280 | $1,910 |
| 4 Bedroom | -$820 | $3,100 | $2,280 |
Affordability — Oak Island, NC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.7 |
| Median Home Price | $588,000 |
| Median Household Income | $83,700 |