Savannah, GA—31404
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 $253,000, with a year-over-year change of -5.7%. This indicates that home prices in Savannah, GA are decreasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $253,000 | -5.7% |
| Single Family | $251,000 | -6.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $211,000 | -7.0% |
3 Bed | $259,000 | -5.1% |
4 Bed | $342,000 | -4.5% |
| 5 Bed | $458,000 | -3.8% |
% of Housing Stock
Rental Trends — Savannah, GA
As of July '25, Rentcast reports the average rent in Savannah, GA is $1,930, with a year-over-year rent change of -3.0%. Per bedroom, the median rent as of July '25 in Savannah, GA is studios: $1,290, 1-bedrooms: $1,350, 2-bedrooms: $1,630, 3-bedrooms: $2,180, 4-bedrooms: $3,570. The most common rental property sizes in Savannah, GA are 2-bedroom and 3-bedroom, accounting for 46.6% and 29.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,930 |
| Studio Rent | $1,480 | $1,290 |
| 1 Bed Rent | $1,300 | $1,350 |
| 2 Bed Rent | $1,600 | $1,630 |
| 3 Bed Rent | $2,000 | $2,180 |
| 4 Bed Rent | $3,500 | $3,570 |
% 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 70. This is a increase of 15.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $319,000 | -2.0% |
Listing Count | 154 | 27.0% |
| Listings as % of Homes | 0.6% | 27.0% |
Days on Market | 70 | 15.0% |
Demographics — Savannah, GA
As of the latest ACS Survey released in 2023, Savannah, GA has a population of 30,700, which has decreased by -6.5% over the past 5 years. Savannah, GA is a moderately popular place for families, as children make up 19.2% of the population. The area has a moderately educated workforce, with 28.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 30,700 | -6.5% |
% Under 18 | 19.2% | -9.9% |
% Seniors | 16.3% | 30.4% |
% WFH | 12.5% | 346.4% |
% w/ College Degree | 28.4% | 33.3% |
As of the latest ACS Survey released in 2023, Savannah, GA is a predominantly black area, with 59.9% of the population identifying as black. The black population has shrunk by 15.0% in the last 5 years. The second most common race or ethnicity in Savannah, GA is white, making up 32.6% of the population. Foreign-born residents account for 3.6% of the population in Savannah, GA, and this percentage has decreased by 7.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 32.6% | 36.4% |
% Black | 59.9% | -15.0% |
% Hispanic | 3.1% | 6.9% |
% Asian | 1.4% | 40.0% |
% Foreign Born | 3.6% | -7.7% |
Mortgage and Risk — Savannah, GA
According to HUD data as of 2023, there were 437 mortgage originations in Savannah, GA, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Savannah, GA. Investor activity is low, as 7.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 437 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 7.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Savannah, GA
As of 2024, the percent of homes in Savannah, GA under the Section 8 program is 15.1%. 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. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Savannah, GA, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,320 |
Total Units Section 8 | 991 |
% Rentals under Section 8 | 15.1% |
% Occupied Section 8 | 89.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $30 | $1,300 | $1,330 |
| 2 Bedroom | -$130 | $1,600 | $1,470 |
| 3 Bedroom | -$20 | $2,000 | $1,980 |
| 4 Bedroom | -$1,220 | $3,500 | $2,280 |
Affordability — Savannah, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $253,000 |
| Median Household Income | $49,800 |