Savannah, GA—31406
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 $322,000, 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 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $322,000 | -2.6% |
| Single Family | $330,000 | -2.7% |
| Condos | $198,000 | -0.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $213,000 | -3.2% |
3 Bed | $300,000 | -3.2% |
4 Bed | $542,000 | 0.2% |
| 5 Bed | $934,000 | 1.1% |
% of Housing Stock
Rental Trends — Savannah, GA
As of July '25, Rentcast reports the average rent in Savannah, GA is $1,880, with a year-over-year rent change of -8.7%. Per bedroom, the median rent as of July '25 in Savannah, GA is 1-bedrooms: $1,210, 2-bedrooms: $1,510, 3-bedrooms: $2,140, 4-bedrooms: $3,080. The most common rental property sizes in Savannah, GA are 2-bedroom and 3-bedroom, accounting for 32.6% and 32.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,580 | $1,880 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,110 | $1,210 |
| 2 Bed Rent | $1,450 | $1,510 |
| 3 Bed Rent | $2,100 | $2,140 |
| 4 Bed Rent | $2,900 | $3,080 |
% 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 58. This is a increase of 39.0% 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 33.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $334,000 | 0.0% |
Listing Count | 139 | 25.0% |
| Listings as % of Homes | 0.4% | 25.0% |
Days on Market | 58 | 39.0% |
Demographics — Savannah, GA
As of the latest ACS Survey released in 2023, Savannah, GA has a population of 34,600, which has decreased by -2.3% over the past 5 years. Savannah, GA is a moderately popular place for families, as children make up 21.0% of the population. The area has a moderately educated workforce, with 36.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 34,600 | -2.3% |
% Under 18 | 21.0% | -9.1% |
% Seniors | 16.6% | 3.8% |
% WFH | 7.6% | 90.0% |
% w/ College Degree | 36.9% | 17.9% |
As of the latest ACS Survey released in 2023, Savannah, GA is a predominantly white area, with 47.2% of the population identifying as white. The white population has shrunk by 11.1% in the last 5 years. The second most common race or ethnicity in Savannah, GA is black, making up 39.4% of the population. Foreign-born residents account for 6.8% of the population in Savannah, GA, and this percentage has increased by 25.9% 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 | 47.2% | -11.1% |
% Black | 39.4% | 4.0% |
% Hispanic | 7.0% | 75.0% |
% Asian | 4.1% | 86.4% |
% Foreign Born | 6.8% | 25.9% |
Mortgage and Risk — Savannah, GA
According to HUD data as of 2023, there were 512 mortgage originations in Savannah, GA, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Savannah, GA. Investor activity is low, as 3.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 512 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 3.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 18.0% |
Loan Activity
Rentals and Section 8 — Savannah, GA
As of 2024, the percent of homes in Savannah, GA under the Section 8 program is 9.3%. 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. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Savannah, GA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 610 |
Total Units Section 8 | 534 |
% Rentals under Section 8 | 9.3% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $300 | $1,110 | $1,410 |
| 2 Bedroom | $110 | $1,450 | $1,560 |
| 3 Bedroom | $0 | $2,100 | $2,100 |
| 4 Bedroom | -$480 | $2,900 | $2,420 |
Affordability — Savannah, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.3 |
| Median Home Price | $322,000 |
| Median Household Income | $66,100 |