Savannah, GA—31401
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Savannah, GA
As of Oct '25, the median home price in Savannah, GA is $571,000, with a year-over-year change of -0.9%. This indicates that home prices in Savannah, GA are flat. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $571,000 | -0.9% |
| Single Family | $584,000 | -2.5% |
| Condos | $548,000 | 0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $412,000 | -0.7% |
2 Bed | $502,000 | -0.6% |
3 Bed | $588,000 | -1.8% |
4 Bed | $760,000 | -2.1% |
| 5 Bed | $1,768,000 | 1.3% |
% of Housing Stock
Rental Trends — Savannah, GA
As of July '25, Rentcast reports the average rent in Savannah, GA is $2,420, with a year-over-year rent change of -4.7%. Per bedroom, the median rent as of July '25 in Savannah, GA is studios: $1,840, 1-bedrooms: $2,070, 2-bedrooms: $2,510, 3-bedrooms: $3,080, 4-bedrooms: $3,070. The most common rental property sizes in Savannah, GA are 2-bedroom and 1-bedroom, accounting for 40.7% and 30.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,420 |
| Studio Rent | $1,820 | $1,840 |
| 1 Bed Rent | $2,110 | $2,070 |
| 2 Bed Rent | $2,500 | $2,510 |
| 3 Bed Rent | $2,800 | $3,080 |
| 4 Bed Rent | $2,850 | $3,070 |
% of Rental Stock
Property Listings — Savannah, GA
As of Oct '25, Realtor.com reports that the median days on market for a home in Savannah, GA is 65. This is a decrease of -10.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $710,000 | -20.0% |
Listing Count | 227 | 15.0% |
| Listings as % of Homes | 0.9% | 15.0% |
Days on Market | 65 | -10.0% |
Demographics — Savannah, GA
As of the latest ACS Survey released in 2023, Savannah, GA has a population of 20,600, which has increased by 1.5% over the past 5 years. Savannah, GA is a moderately popular place for families, as children make up 15.9% of the population. The area has a highly educated workforce, with 48.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 18.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,600 | 1.5% |
% Under 18 | 15.9% | 6.7% |
% Seniors | 12.7% | 6.7% |
% WFH | 18.5% | 107.9% |
% w/ College Degree | 48.2% | 14.5% |
As of the latest ACS Survey released in 2023, Savannah, GA is a predominantly white area, with 52.7% of the population identifying as white. The white population has grown by 12.8% in the last 5 years. The second most common race or ethnicity in Savannah, GA is black, making up 35.6% of the population. Foreign-born residents account for 8.4% of the population in Savannah, GA, and this percentage has increased by 25.4% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 52.7% | 12.8% |
% Black | 35.6% | -16.0% |
% Hispanic | 6.7% | 17.5% |
% Asian | 3.2% | 3.2% |
% Foreign Born | 8.4% | 25.4% |
Mortgage and Risk — Savannah, GA
According to HUD data as of 2023, there were 242 mortgage originations in Savannah, GA, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Savannah, GA. Investor activity is low, as 14.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 242 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 14.0% |
% Second Loans | 14.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Savannah, GA
As of 2024, the percent of homes in Savannah, GA under the Section 8 program is 25.3%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Savannah, GA, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 1,638 |
Total Units Section 8 | 1,273 |
% Rentals under Section 8 | 25.3% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$550 | $2,110 | $1,560 |
| 2 Bedroom | -$770 | $2,500 | $1,730 |
| 3 Bedroom | -$470 | $2,800 | $2,330 |
| 4 Bedroom | -$160 | $2,850 | $2,690 |
Affordability — Savannah, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 11.5 |
| Median Home Price | $571,000 |
| Median Household Income | $50,200 |