Savannah, GA—31405
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 $349,000, with a year-over-year change of -2.6%. This indicates that home prices in Savannah, GA are decreasing. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $349,000 | -2.6% |
| Single Family | $349,000 | -2.8% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $215,000 | -8.5% |
3 Bed | $320,000 | -2.7% |
4 Bed | $533,000 | 1.1% |
| 5 Bed | $708,000 | 0.7% |
% of Housing Stock
Rental Trends — Savannah, GA
As of July '25, Rentcast reports the average rent in Savannah, GA is $2,010, with a year-over-year rent change of 1.0%. Per bedroom, the median rent as of July '25 in Savannah, GA is studios: $1,420, 1-bedrooms: $1,480, 2-bedrooms: $1,740, 3-bedrooms: $2,200, 4-bedrooms: $3,170. The most common rental property sizes in Savannah, GA are 2-bedroom and 3-bedroom, accounting for 36.1% and 32.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,750 | $2,010 |
| Studio Rent | $1,200 | $1,420 |
| 1 Bed Rent | $1,400 | $1,480 |
| 2 Bed Rent | $1,580 | $1,740 |
| 3 Bed Rent | $2,100 | $2,200 |
| 4 Bed Rent | $2,700 | $3,170 |
% 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 67. This is a increase of 16.0% 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 37.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $471,000 | 3.0% |
Listing Count | 182 | 8.0% |
| Listings as % of Homes | 0.5% | 8.0% |
Days on Market | 67 | 16.0% |
Demographics — Savannah, GA
As of the latest ACS Survey released in 2023, Savannah, GA has a population of 39,700, which has increased by 5.9% over the past 5 years. Savannah, GA is a moderately popular place for families, as children make up 22.0% of the population. The area has a moderately educated workforce, with 35.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 39,700 | 5.9% |
% Under 18 | 22.0% | 0.5% |
% Seniors | 15.9% | 14.4% |
% WFH | 11.0% | 197.3% |
% w/ College Degree | 35.0% | 2.3% |
As of the latest ACS Survey released in 2023, Savannah, GA is a predominantly black area, with 47.4% of the population identifying as black. The black population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Savannah, GA is white, making up 38.0% of the population. Foreign-born residents account for 7.4% of the population in Savannah, GA, and this percentage has increased by 37.0% 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 | 38.0% | -9.5% |
% Black | 47.4% | 0.2% |
% Hispanic | 7.8% | 21.9% |
% Asian | 2.6% | 13.0% |
% Foreign Born | 7.4% | 37.0% |
Mortgage and Risk — Savannah, GA
According to HUD data as of 2023, there were 627 mortgage originations in Savannah, GA, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Savannah, GA. Investor activity is low, as 4.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 627 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 4.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Savannah, GA
As of 2024, the percent of homes in Savannah, GA under the Section 8 program is 9.6%. This is considered low, suggesting that the neighborhood is sparsely 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 | 740 |
Total Units Section 8 | 740 |
% Rentals under Section 8 | 9.6% |
% Occupied Section 8 | 89.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$50 | $1,400 | $1,350 |
| 2 Bedroom | -$80 | $1,580 | $1,500 |
| 3 Bedroom | -$80 | $2,100 | $2,020 |
| 4 Bedroom | -$370 | $2,700 | $2,330 |
Affordability — Savannah, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $349,000 |
| Median Household Income | $62,100 |