Curious if you know the percentage of vacation rental homes vs. folks who live on Oak Island permanently? Assuming the homes closer to the water are more vacation rentals?
Feels to us like it’s near 50/50 or 60/40. It’s pretty quiet i the winter months, even if they are personally owned properties, a lot of families do not spend their time year round.
@@1FastMKVSupra Thx you. Im interested in possibly moving there for retirement. Currently live at the beach on the Pacific side and our small town is also about 60/40 but Fall and Spring are some of our better months, so it's busy year round. Hope to come for a longer visit this summer!
You are correct that the percentage of properties that offer short term rentals (at least part time) is higher the closer you get to the Beach. Most recent data indicates that there are approximately 9,712 year round residents but during peak summer months the population can grow as high as 50,000 with vacationers and part time residents coming to the island! The "combo-use" is a popular option where owners will rent their vacation home part time to offset the cost of owning it. I've seen reports of rental properties being as low as 13.61% but question that accuracy and it seems to me that may just be accounting for long term rentals not including short term rentals. If I find a better data source I'll be sure to post it on here.
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thanks fro the update Brian!
You Bet! I'll be here every month keeping you posted! Looking forward to a great 2025 in Oak Island!
Curious if you know the percentage of vacation rental homes vs. folks who live on Oak Island permanently? Assuming the homes closer to the water are more vacation rentals?
Feels to us like it’s near 50/50 or 60/40. It’s pretty quiet i the winter months, even if they are personally owned properties, a lot of families do not spend their time year round.
@@1FastMKVSupra Thx you. Im interested in possibly moving there for retirement. Currently live at the beach on the Pacific side and our small town is also about 60/40 but Fall and Spring are some of our better months, so it's busy year round. Hope to come for a longer visit this summer!
You are correct that the percentage of properties that offer short term rentals (at least part time) is higher the closer you get to the Beach. Most recent data indicates that there are approximately 9,712 year round residents but during peak summer months the population can grow as high as 50,000 with vacationers and part time residents coming to the island! The "combo-use" is a popular option where owners will rent their vacation home part time to offset the cost of owning it. I've seen reports of rental properties being as low as 13.61% but question that accuracy and it seems to me that may just be accounting for long term rentals not including short term rentals. If I find a better data source I'll be sure to post it on here.
@@SurfHomesNC-BrianInskip Thx you very helpful!