The typical owner-occupied home in Ocracoke is worth about $456,200, 58% above the North Carolina median of $288,900 and 37% above the national median of $332,700. Owners pay a median $2,438 a year in property taxes, about 0.53% of their home's value, lower than the North Carolina rate of 0.66%. The median household earns $77,583 a year, so the median home costs 5.9 times the median income (4.0 times for North Carolina). 77% of occupied homes here are lived in by their owners, and 67% of those owners still have a mortgage.
Ocracoke at a glance
| Ocracoke | North Carolina | U.S. | |
|---|---|---|---|
| Median home value | $456,200 | $288,900 | $332,700 |
| Median property tax paid per year | $2,438 | $1,896 | $3,119 |
| Property tax as a share of value | 0.53% | 0.66% | 0.94% |
| Median household income | $77,583 | $72,388 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 67% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $2,588 | $1,631 | $1,963 |
| Those costs as a share of the owners' income | 44.1% | 19.4% | 21.0% |
| Median rent | $1,408 | $1,228 | $1,413 |
| Rent as a share of renters' income | 45.0% | 29.5% | 30.6% |
| Median year homes were built | 1978 | 1991 | 1980 |
| Vacant homes | 45.6% | 12.5% | 10.1% |
| Population | 723 | 10,730,404 | 334,922,499 |
What a typical home costs per month in Ocracoke
At this week's average 30-year rate of 7.11%, buying the median Ocracoke home of $456,200 with 20% down costs about $2,847 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,607, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $122,001 for the 20%-down payment. That payment is 44% of the median Ocracoke household income of $77,583; at that income and 20% down, the 28% guideline points to a home of about $290,000.
The median rent here is $1,408 a month, so owning the median home costs about $1,439 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $91,240 |
|---|---|
| Loan amount | $364,960 |
| Principal and interest | $2,455 |
| Property taxes (0.53% a year) | $201 |
| Homeowners insurance (our estimate, 0.5% a year) | $190 |
| PMI | $0 |
| Total per month | $2,847 |
Change the numbers in the calculator
| Down payment | $15,967 |
|---|---|
| Loan amount | $447,937 |
| Principal and interest | $3,013 |
| Property taxes (0.53% a year) | $201 |
| Homeowners insurance (our estimate, 0.5% a year) | $190 |
| FHA mortgage insurance | $202 |
| Total per month | $3,607 |
Change the numbers in the calculator
Questions about home buying in Ocracoke
What is the median home value in Ocracoke?
About $456,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ocracoke?
Homeowners pay a median $2,438 a year, which is about 0.53% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Ocracoke?
For the median home with 20% down at 7.11%, the payment is about $2,847 a month. Keeping that under 28% of gross income takes about $122,001 a year.
More about Ocracoke
- Mortgage Refinance in Ocracoke
- Debt Relief in Ocracoke
- Home Equity Loans in Ocracoke
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data