My family has a house in Corolla and my parents spend about 30% of their time there for now; when my dad retires I imagine they’ll be down there even more. But we’ve had it since 2011 or so, so they are absolute experts. Im not an expert, but I’ve been down well over a dozen times; being out of the northeast for nearly 8 years has complicated going there (nearest airport is Norfolk 90 minutes away).
Once you cross the bridge into the outer banks, assuming you’re coming from the North, you go North or South. These are very different parts of the island. You’ll immediately see that the southern part, basically Kitty Hawk through Nags Head, is more built up. To me, it’s what I imagine Myrtle Beach Lite would be. No high rises, but a 4-lane road and many side streets with neighborhoods packed with smaller vacation rentals. Kinda reminds me of the Jersey Shore and LBI. Tons of dining, but few places that are truly great. I don’t really want to give it away, but Salt Box is a great spot down there nestled amongst what is basically a spread out trailer park on the sound side. Otherwise, I know that southern area as cheaper, zero frills, kid-friendly vacationer food/bars (yes kids can sit at bars). I’ve never bothered with the beach down there, but it seems narrower, and I have to imagine it’s way more packed. More historical stuff to see, even besides the Wright brothers museum; Manteo is a decently historic town. Manteo is also your launch point for any deep sea fishing you’re thinking of doing.
If you head North, it’s barely recognizable. It’s a two-lane road the whole way up as far as cars are allowed, with the speed limit rarely passing 40. You could probably count on two hands for the amount of lights you’ll hit on the whole road. First you pass by the big hotels, then the massive, 4-family “houses” that people often rent for reunions or weddings. A couple more miles and you’re in Duck. Lots of nice shopping and dining options. Still kid-friendly for the most part, but definitely a more mature vibe. It’s much quieter. Then you keep going a few more miles and you’re in Corolla, which is the quietest part of the island; but, mind you, it’s still very popular and has been built up quite a bit with modern rentals over the last 12 years. We were the 3rd or 4th house built in my development in 2011; now there are dozens. Even still, it’s more secluded and options are more limited. Many people go down to Duck from Corolla to eat and shop. From here you can go see the wild horses on the beach/dunes. I imagine you can deduce how pricing for rentals likely goes between areas.