Outer Banks, NC
North Carolina's barrier island paradise
The Outer Banks stretches 100+ miles of undeveloped barrier islands off the NC coast, offering pristine beaches, wild horses, and the Wright Brothers National Memorial. The STR market here skews toward larger vacation homes - 3-5 BR cottages dominate, with strong family-group demand and multi-week summer bookings that drive exceptional gross revenue.
Across 51 active STR-viable listings analyzed this month, Outer Banks shows a 3.4% median cap rate at a $635K median list price, 40% occupancy, and $289/night. That ranks #24 of 57 markets in STRROI's live ranking. At typical prices, cash flow is tight: most listings only pencil out with a large down payment, a below-list purchase, or above-market nightly rates.
Outer Banks real estate market right now
As of October 15, 2026, STRROI is tracking 51 homes for sale in Outer Banks that could run as short-term rentals, at a median list price of $635,000. The middle half are priced between $528K and $850K. That works out to a median of $407 per square foot for a typical 1,757 square foot home. Homes here have been on the market 113 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 10 of them were listed in the last 30 days.
These numbers cover the homes for sale STRROI analyzes as potential short-term rentals in Outer Banks, mainly ZIP 27959. They are not every home sale in the area, so they can differ from MLS-wide figures. Month-by-month price history starts Oct 2026 and fills in as the market is re-checked each month.
What's for sale in Outer Banks right now
Of the 51 homes for sale we analyzed in Outer Banks, none project positive monthly cash flow with 20% down at a 7.5% rate, and none rate Buy or better on STRROI's 1-10 scale. 4-bedroom homes are the most common (16 for sale, median $699K). Returns are strongest in 3-bedroom homes at a 3.7% median cap rate, and weakest in 2-bedroom homes at 3.1%. By property type, condos lead at a 3.5% median cap rate across 9 listings.
- Weak: 14
- Avoid: 37
| Beds | For sale | Median price | Cap rate |
|---|---|---|---|
| 2 | 9 | $459K | 3.1% |
| 3 | 14 | $573K | 3.7% |
| 4 | 16 | $699K | 3.2% |
| 5+ | 12 | $1.3M | 3.4% |
| Type | For sale | Median price | Cap rate |
|---|---|---|---|
| Single-family homes | 41 | $700K | 3.4% |
| Condos | 9 | $459K | 3.5% |
Top-ranked homes for sale in Outer Banks this month
Scored 1-10 against real Airbnb comps. Addresses, photos and the full underwriting are in the app.
- #1Weak · 4/104 bd · 3 ba single-family homeZIP 27959 · listed at $635K
- Cap rate
- 5.5%
- Cash flow
- -$669/mo
- Nightly
- $443 at 40%
- #2Weak · 4/104 bd · 2 ba single-family homeZIP 27959 · listed at $585K
- Cap rate
- 5.1%
- Cash flow
- -$783/mo
- Nightly
- $390 at 40%
- #3Weak · 3/103 bd · 3 ba condoZIP 27959 · listed at $495K
- Cap rate
- 5.1%
- Cash flow
- -$680/mo
- Nightly
- $333 at 40%
How Outer Banks compares
Outer Banks ranks #2 of 4 Mid-Atlantic markets in STRROI's live ranking; Virginia Beach leads the region with a median cap rate of 3.8%. Its 3.4% cap rate is 0.5 points above the 2.9% median across all 57 ranked markets, and its $635K typical list price is close to the Mid-Atlantic median of $612K.
| Rank | Market | Cap rate | Typical price |
|---|---|---|---|
| #19 | Virginia Beach, VA | 3.8% | $625K |
| #24 | Outer Banks, NC | 3.4% | $635K |
| #32 | Ocean City, MD | 2.7% | $550K |
| #38 | Rehoboth Beach, DE | 2.4% | $600K |
Rank is national, by median cap rate across active STR-viable listings. Cash flow uses STRROI's default financing assumptions. See the full ranking
Estimated Annual Performance
* Estimates based on market averages. Individual property performance varies. Always run a full underwriting analysis.
Why Investors Choose Outer Banks
Outer Banks STR investing, answered
Is Outer Banks, NC a good short-term rental market?
Outer Banks is a Mid-Atlantic STR market with a 3.4% median cap rate, 40% annual occupancy, and $289/night across STR-viable listings, based on 51 active listings. It ranks #24 of 57 markets by median cap rate in STRROI's live ranking. This month none of its 51 homes for sale rate Buy or better.
What is the average Airbnb occupancy rate in Outer Banks?
STR-viable properties in Outer Banks average about 40% occupancy across the year. Peak season is June - August. Occupancy here reflects availability-adjusted booking performance, not raw calendar occupancy, so it represents what a full-time operated rental can realistically achieve.
How much do short-term rentals earn in Outer Banks?
At $289/night and 40% occupancy, a typical Outer Banks STR grosses roughly $41,983 per year before expenses, leaving an estimated $25,190 in net operating income. Across analyzed listings the median cap rate is 3.4%. Individual results depend on property, amenities, and management.
What types of properties work best for STR in Outer Banks?
Among homes for sale right now, 3-bedroom homes post the strongest median cap rate by size (3.7%), and condos lead by property type (3.5%). With guests, the best-performing STR types here are Single Family, Cottage, Oceanfront Home. Matching the local guest profile and the amenities that drive bookings matters more than raw square footage.
How many homes for sale in Outer Banks cash flow as an Airbnb?
0 of 51 STR-viable listings (0%) project positive monthly cash flow after the mortgage, assuming 20% down at a 7.5% rate on a 30-year loan. The top-ranked listing this month is a 4-bedroom single-family home in ZIP 27959 listed at $635K, projecting a 5.5% cap rate and -$669 a month.
What is the median home price in Outer Banks, NC right now?
The median list price of the 51 homes for sale STRROI tracks in Outer Banks is $635,000, and the middle half are priced between $528K and $850K. The median price per square foot is $407. These are homes that could run as short-term rentals, mainly ZIP 27959, not every sale in the area. Against a 3.4% median cap rate, that price level sets the return baseline you'd underwrite against.
How long do homes stay on the market in Outer Banks?
Homes for sale in Outer Banks have been listed 113 days on average, close to the 101 days typical across the 56 markets in STRROI's ranking. 10 of them were listed in the last 30 days.
Market averages, not guarantees. Cap rates, occupancy, and nightly rates are market-wide averages based on active STR listings and historical data. Individual property performance depends on location, amenities, management, and listing quality. Always run a full underwriting analysis before purchasing.Stats sourced from 51 active listings · last updated Oct 15, 2026
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