Savannah, Georgia Housing Market Prices
Savannah Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 12% above the Georgia median$287,966
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Median rent About the same as the Georgia median$1,390
Housing Market Overview
| Metric | Savannah | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $287,966 | $256,986 | $248,835 |
| Price Trend (Annual %) | 17.1% | 8.9% | 7.5% |
| Median Gross Rent | $1,390 | $1,392 | $1,407 |
| Rent Trend (Annual %) | 5.4% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Savannah is about 12% higher than in Georgia. Rent follows a similar pattern, running close to the Georgia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Savannah, up about 17.1% and 5.4% a year respectively. Home prices are changing faster.
Median rent in Savannah rose about 53.4% between 2015 and 2024, from $906 to $1,390. Over the same span, rent in Georgia rose about 58.5%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Savannah.
Buying the median-priced home in Savannah costs roughly 17.3 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Savannah. The price-to-rent ratio in Georgia is about 15.4.
| Metric | Savannah | Georgia Avg | US Average |
|---|---|---|---|
| Median Home Price | $287,966 | $256,986 | $248,835 |
| Median Household Income | $59,640 | $77,523 | $80,455 |
| Price-to-Income Ratio | 4.8 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Savannah rose about 209.2%, while median household income rose about 63.0% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Savannah | Georgia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 41.0% | 58.9% | 58.5% |
| Rental Rate | 44.4% | 30.8% | 31.2% |
| Vacancy Rate | 14.6% | 10.3% | 10.2% |
| Median Tenure (years) | 11.0 | 14.0 | 15.0 |
| Median Year Moved In | 2015 | 2012 | 2011 |
Savannah has a homeownership rate of 41.0%, lower than the Georgia average of 58.9%. Its housing vacancy rate is 14.6%, compared with 10.3% in Georgia.
Housing Stock
| Metric | Savannah | Georgia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.62 people | 2.53 people |
| Median Structure Built Year | 1976 | 1990 | 1978 |
| Median Number of Rooms | 5.5 | 5.9 | 5.5 |
The typical housing unit in Savannah was built around 1976. On average, 2.4 people live in a home with about 5.5 rooms, staying for about 11.0 years on average.
Savannah, GA Housing Compared With Nearby Cities
How Savannah, GA compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Savannah, GA | 145,402 | $287,966 #1/2 | $1,390 #2/2 | 48.0% #2/2 |
| Pooler, GA | 24,713 | $202,182 | $1,717 | 55.1% |
Frequently Asked Questions
Common questions about the housing market in Savannah, Georgia.
What is the median home price in Savannah, Georgia?
The median home price in Savannah, Georgia is $287,966, higher than the Georgia average of $256,986.
What is the average home price in Savannah, Georgia?
The typical home price in Savannah, Georgia, reported as the median sale price, is $287,966. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Savannah, Georgia?
The median gross rent in Savannah, Georgia is $1,390 per month, about the same as the Georgia average.
What was the median gross rent in Savannah in 2020?
In 2020, the median gross rent in Savannah, Georgia was $1,049 per month.
What is the price-to-rent ratio in Savannah, Georgia?
The price-to-rent ratio in Savannah, Georgia is about 17.3, meaning it would take roughly 17.3 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Savannah.
Are home prices or rent rising faster in Savannah, Georgia?
Both home prices and rent are rising in Savannah, up about 17.1% and 5.4% a year respectively. Home prices are changing faster.
What is the homeownership rate in Savannah, Georgia?
41.0% of households in Savannah, Georgia own their home, lower than the Georgia average of 58.9%.
What is the vacancy rate in Savannah, Georgia?
The housing vacancy rate in Savannah, Georgia is 14.6%, higher than the Georgia average of 10.3%.
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