Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Housing Market Overview
| Metric | Savannah | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | — | $248,418 | $242,182 |
| Price Trend (Annual %) | — | 9.9% | 8.2% |
| Median Gross Rent | $1,913 | $1,338 | $1,342 |
| Rent Trend (Annual %) | 1.5% | 5.7% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
Rent is about 43% higher than the Texas average.
Affordability
| Metric | Savannah | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | — | $248,418 | $242,182 |
| Median Household Income | $131,713 | $76,510 | $78,145 |
| Price-to-Income Ratio | — | 3.2 | 3.1 |
Occupancy & Tenure
| Metric | Savannah | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 77.9% | 56.5% | 58.2% |
| Rental Rate | 22.1% | 33.8% | 31.3% |
| Vacancy Rate | 0.0% | 9.6% | 10.6% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Savannah has a homeownership rate of 77.9%, higher than the Texas average of 56.5%. Its housing vacancy rate is 0.0%, compared with 9.6% in Texas.
Housing Stock
| Metric | Savannah | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.76 people | 2.70 people | 2.54 people |
| Median Structure Built Year | 2009 | 1989 | 1978 |
| Median Number of Rooms | 7.2 | 5.4 | 5.5 |
The typical housing unit in Savannah was built around 2009. On average, 2.8 people live in a home with about 7.2 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Savannah, Texas.
What is the median rent in Savannah, Texas?
The median gross rent in Savannah, Texas is $1,913 per month, higher than the Texas average of $1,338.
What was the median gross rent in Savannah in 2020?
In 2020, the median gross rent in Savannah, Texas was $1,954 per month.
What is the homeownership rate in Savannah, Texas?
77.9% of households in Savannah, Texas own their home, higher than the Texas average of 56.5%.
What is the vacancy rate in Savannah, Texas?
The housing vacancy rate in Savannah, Texas is 0.0%, lower than the Texas average of 9.6%.