Savannah, GA—31419
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 $311,000, with a year-over-year change of -3.3%. This indicates that home prices in Savannah, GA are decreasing. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $311,000 | -3.3% |
| Single Family | $317,000 | -3.4% |
| Condos | $212,000 | -1.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $158,000 | -7.1% |
2 Bed | $223,000 | -1.8% |
3 Bed | $296,000 | -3.9% |
4 Bed | $376,000 | -2.3% |
| 5 Bed | $460,000 | -1.3% |
% 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 0.0%. Per bedroom, the median rent as of July '25 in Savannah, GA is studios: $1,250, 1-bedrooms: $1,350, 2-bedrooms: $1,590, 3-bedrooms: $2,100, 4-bedrooms: $2,480. The most common rental property sizes in Savannah, GA are 2-bedroom and 3-bedroom, accounting for 45.1% and 26.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,850 | $1,930 |
| Studio Rent | $1,250 | $1,250 |
| 1 Bed Rent | $1,320 | $1,350 |
| 2 Bed Rent | $1,600 | $1,590 |
| 3 Bed Rent | $2,100 | $2,100 |
| 4 Bed Rent | $2,500 | $2,480 |
% 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 66. This is a increase of 38.0% 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 | $350,000 | -3.0% |
Listing Count | 305 | 28.0% |
| Listings as % of Homes | 0.4% | 28.0% |
Days on Market | 66 | 38.0% |
Demographics — Savannah, GA
As of the latest ACS Survey released in 2023, Savannah, GA has a population of 57,400, which has decreased by -1.5% over the past 5 years. Savannah, GA is a moderately popular place for families, as children make up 21.2% of the population. The area has a moderately educated workforce, with 34.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 57,400 | -1.5% |
% Under 18 | 21.2% | -3.6% |
% Seniors | 14.9% | 28.4% |
% WFH | 7.4% | 221.7% |
% w/ College Degree | 34.4% | 6.2% |
As of the latest ACS Survey released in 2023, Savannah, GA is a predominantly white area, with 40.1% of the population identifying as white. The white population has shrunk by 13.6% in the last 5 years. The second most common race or ethnicity in Savannah, GA is black, making up 39.3% of the population. Foreign-born residents account for 12.0% of the population in Savannah, GA, and this percentage has increased by 44.6% 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 | 40.1% | -13.6% |
% Black | 39.3% | 6.8% |
% Hispanic | 12.0% | 30.4% |
% Asian | 5.0% | 28.2% |
% Foreign Born | 12.0% | 44.6% |
Mortgage and Risk — Savannah, GA
According to HUD data as of 2023, there were 1085 mortgage originations in Savannah, GA, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 77.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Savannah, GA. Investor activity is low, as 2.0% 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 | 1,085 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% 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 5.4%. 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, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 571 |
Total Units Section 8 | 535 |
% Rentals under Section 8 | 5.4% |
% Occupied Section 8 | 90.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $170 | $1,320 | $1,490 |
| 2 Bedroom | $50 | $1,600 | $1,650 |
| 3 Bedroom | $120 | $2,100 | $2,220 |
| 4 Bedroom | $60 | $2,500 | $2,560 |
Affordability — Savannah, GA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4 |
| Median Home Price | $311,000 |
| Median Household Income | $70,700 |