Savannah, GA—31415
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 $145,000, with a year-over-year change of -15.2%. This indicates that home prices in Savannah, GA are decreasing. According to Zillow, the 1-year price projection is 0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $145,000 | -15.2% |
| Single Family | $145,000 | -14.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $112,000 | -16.4% |
3 Bed | $151,000 | -13.7% |
4 Bed | $200,000 | -10.7% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Savannah, GA
As of July '25, Rentcast reports the average rent in Savannah, GA is $1,640, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Savannah, GA is 1-bedrooms: $1,100, 2-bedrooms: $1,550, 3-bedrooms: $1,830, 4-bedrooms: $2,300. The most common rental property sizes in Savannah, GA are 2-bedroom and 3-bedroom, accounting for 39.8% and 32.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,550 | $1,640 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,020 | $1,100 |
| 2 Bed Rent | $1,450 | $1,550 |
| 3 Bed Rent | $1,800 | $1,830 |
| 4 Bed Rent | $2,300 | $2,300 |
% 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 53. This is a decrease of -9.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $208,000 | -13.0% |
Listing Count | 56 | 2.0% |
| Listings as % of Homes | 0.4% | 2.0% |
Days on Market | 53 | -9.0% |
Demographics — Savannah, GA
As of the latest ACS Survey released in 2023, Savannah, GA has a population of 11,800, which has decreased by -4.8% over the past 5 years. Savannah, GA is a popular place for families, as children make up 29.8% of the population. The area has a poorly educated workforce, with 15.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 11,800 | -4.8% |
% Under 18 | 29.8% | 18.3% |
% Seniors | 15.7% | -1.3% |
% WFH | 6.7% | 272.2% |
% w/ College Degree | 15.0% | 24.0% |
As of the latest ACS Survey released in 2023, Savannah, GA is a predominantly black area, with 89.4% of the population identifying as black. The black population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Savannah, GA is white, making up 5.3% of the population. Foreign-born residents account for 2.4% of the population in Savannah, GA, and this percentage has increased by 71.4% 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 | 5.3% | 103.8% |
% Black | 89.4% | -5.4% |
% Hispanic | 4.5% | 350.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 2.4% | 71.4% |
Mortgage and Risk — Savannah, GA
According to HUD data as of 2023, there were 116 mortgage originations in Savannah, GA, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 79.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Savannah, GA. Investor activity is low, as 15.0% 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 | 116 |
% Conventional Loans | 55.0% |
% Government Loans | 45.0% |
% Investor Loans | 15.0% |
% Second Loans | 3.0% |
% 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 21.5%. 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 | 732 |
Total Units Section 8 | 525 |
% Rentals under Section 8 | 21.5% |
% Occupied Section 8 | 89.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $140 | $1,020 | $1,160 |
| 2 Bedroom | -$140 | $1,450 | $1,310 |
| 3 Bedroom | -$20 | $1,800 | $1,780 |
| 4 Bedroom | -$220 | $2,300 | $2,080 |
Affordability — Savannah, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $145,000 |
| Median Household Income | $37,900 |