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Real Estate Prices & Overview

Oak Island East median real estate price is $485,386, which is more expensive than 76.8% of the neighborhoods in North Carolina and 64.1% of the neighborhoods in the U.S.

The average rental price in Oak Island East is currently $2,535, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 81.8% of the neighborhoods in North Carolina.

Oak Island East is a suburban neighborhood (based on population density) located in Oak Island, North Carolina. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).

Oak Island East real estate is primarily made up of medium sized (three or four bedroom) to small (studio to two bedroom) single-family homes and mobile homes. Most of the residential real estate is owner occupied. Many of the residences in the Oak Island East neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 2000 and the present.

Vacant apartments or homes are a major fact of life in Oak Island East. The current real estate vacancy rate here is 54.3%. This is higher than the rate of vacancies in 99.0% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (48.6%). This can occur in vacation areas, and occasionally it is also found in neighborhoods that are primarily filled with college students, as some apartments could be vacant when school is not in session. If you live here year round, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Oak Island East is a neighborhood that is on the ocean, a bay, or inlet. Many times, such places have amenities that bring locals and visitors to the waterfront for recreational activities or to check out the scenery. In some densely populated areas that are less financially well-off, the neighborhood waterfront can be relatively industrial and less open to recreation. In addition to being coastal, Oak Island East is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 54.3% of the residential real estate vacant, the Oak Island East neighborhood claims the distinction of having a higher vacancy rate than 99.0% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Occupations

The Oak Island East neighborhood has a greater proportion of government workers living in it than 98.6% of the neighborhoods in America, according to NeighborhoodScout's exclusive analysis. This is a unique feature of this neighborhood, and one that shapes its character.

Length of Commute

Regardless of the means by which residents commute, this neighborhood has a length of commute that is notable. Long commutes can be brutal. They take time, money, and energy, leaving less of you for yourself and your family. The residents of the Oak Island East neighborhood unfortunately have the distinction of having, on average, a longer commute than most any neighborhood in America. 10.4% of commuters here travel more than one hour just one-way to work. That is more than two hours per day. This percentage with two-hour + round-trip commutes is higher than NeighborhoodScout found in 95.8% of all neighborhoods in America.

Diversity

Significantly, 1.3% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Oak Island East neighborhood in Oak Island are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 71.9% of the neighborhoods in America. In addition, 4.8% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 65.2% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Oak Island East neighborhood, 47.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.3% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (18.5%), and 18.5% in government jobs, whether they are in local, state, or federal positions.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Oak Island East neighborhood is English, spoken by 98.7% of households. Other important languages spoken here include Italian and Polish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Oak Island East neighborhood in Oak Island, NC, residents most commonly identify their ethnicity or ancestry as Irish (19.0%). There are also a number of people of German ancestry (16.1%), and residents who report English roots (12.4%), and some of the residents are also of Scottish ancestry (3.3%), along with some Italian ancestry residents (3.2%), among others.

Getting to Work

How you get to work – car, bus, train or other means – and how much of your day it takes to do so is a large quality of life and financial issue. Especially with gasoline prices rising and expected to continue doing so, the length and means of one's commute can be a financial burden. Some neighborhoods are physically located so that many residents have to drive in their own car, others are set up so many walk to work, or can take a train, bus, or bike. The greatest number of commuters in Oak Island East neighborhood spend between 15 and 30 minutes commuting one-way to work (37.7% of working residents), which is shorter than the time spent commuting to work for most Americans. However, there is also a significant group of residents (10.4%) who commute over an hour in each direction.

Here most residents (74.5%) drive alone in a private automobile to get to work. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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