Savannah, GA
The numbers that matter most
What an investor checks first when sizing up a new metro — affordability ratio, rent vs income, cap rate proxy, and where the market is moving. Each metric shown vs. state and national medians for instant context.
moderate
Price to income
3.63×
The single most-cited 'is this market still cheap' check. Below 3× and you're in an affordability tailwind.
- vs Georgia
- 3.16×
- vs U.S.
- 3.43×
Benchmark
ACS median home value ÷ median HHI
moderate
Rent to income
27.0%
What share of a typical household's income goes to rent. Below 30% means tenants can absorb modest rent increases.
- vs Georgia
- 24.5%
- vs U.S.
- 23.3%
Benchmark
(HUD FMR 2BR × 12) ÷ median HHI
deal-by-deal
Cap rate proxy
4.83%
Rough first-pass yield assuming a 35% expense ratio. Not an underwriting number — a 'is this even worth modeling' filter.
- vs Georgia
- 4.77%+0.07
- vs U.S.
- 4.35%+0.49
Benchmark
(FMR 2BR × 12 × 0.65) ÷ ACS median home value
steady
Net migration
+0.30%
Forward-looking demand signal. Positive net migration drives rent growth and absorbs new supply.
- vs Georgia
- 0.11%+0.19
- vs U.S.
- 0.03%+0.27
Benchmark
IRS net migration ÷ population
strong
Permit pipeline
12.79
permits per 1,000 residents
Forward-supply indicator. Above ~5 means the metro is building meaningfully relative to its size; below 2 means supply is tight.
- vs Georgia
- 5.96+6.82
- vs U.S.
- 3.53+9.25
Benchmark
Census BPS permits TTM ÷ population × 1,000
healthy
Unemployment
3.0%
Tighter unemployment means higher wages, more rental demand, lower vacancy.
- vs Georgia
- 3.8%-0.8
- vs U.S.
- 4.5%-1.5
Benchmark
BLS LAUS, latest month
investor-heavy market
Investor loan share
15.1%
6,135 purchase loans · 23.6% denial rate · 2024
Share of financed home purchases going to investors. Above ~15% means landlords are outbidding owner-occupants; below ~8% is owner-dominated.
Benchmark
Investor purchase loans ÷ all purchase loans (CFPB HMDA LAR, annual)
Where prices are and where they've been
5-year price appreciation
+72.8%
homeValues.yearOverYear
+3.6%
Median home value
$271,100
The rent ladder
| Bedroom | Monthly | Annual | % of median HHI |
|---|---|---|---|
| 1 BR | $1,533 | $18,396 | 24.6% |
| 2 BR | $1,680 | $20,160 | 27.0% |
| 3 BR | $2,235 | $26,820 | 35.9% |
Labor market direction
Unemployment
3.0%
Median household income
$74,632
What's being built
Total TTM
5,269
+49.2% YoY
Single-family
2,990
2–4 unit
129
5+ unit
2,150
All 3 counties, ranked by population
| County | Population | Home value | Median HHI | Permits TTM | YoY |
|---|---|---|---|---|---|
| Chatham County | 296,266 | $273,300 | $69,575 | 3,830 | +51.1% |
| Effingham County | 65,314 | $245,300 | $85,465 | 637 | +3.8% |
| Bryan County | 44,995 | $317,100 | $94,234 | 802 | +76.3% |
Similar metros nationally
| Metro | Pop | Med HHI | P/I | Cap proxy | HPI 5y | Permits/1k | Unemp |
|---|---|---|---|---|---|---|---|
| ★Savannah | 406,575 | $74,632 | 3.63× | 4.83% | +72.8% | 12.79 | 3.0% |
| Peoria, IL | 401,702 | $70,872 | — | — | +44.9% | — | 5.6% |
| Reading, PA | 428,483 | $77,684 | — | — | +62.7% | — | 3.7% |
| Salem, OR | 433,415 | $76,010 | — | — | +40.0% | — | 4.9% |
| Davenport-Moline-Rock Island, IA-IL | 382,983 | $71,925 | — | — | +41.9% | — | 5.1% |
| Salisbury, MD-DE | 421,982 | $69,592 | — | — | +59.5% | — | 3.9% |
Where people are moving in from
Net migration
+1,238
+0.30% of population
| Origin county | Tax returns |
|---|---|
| Chatham County, GA | 1,611 |
| Effingham County, GA | 648 |
| Bryan County, GA | 551 |
| Liberty County, GA | 495 |
| Bulloch County, GA | 434 |
| Beaufort County, SC | 385 |
Who lives in Savannah
- Median age
- 37
- Bachelor's+
- 34.9%
- Owner-occupancy
- 61.5%
- Vacancy rate
- 11.2%
- Rent burdened (30%+)
- 46.2%
- Median household income
- $74,632
This page shows federally sourced data. A full editorial analysis with charts and investment commentary is in progress.
Data sources
| Metric | Source | Vintage |
|---|---|---|
| rent vs buy | HUD FMR + Census ACS + FRED MORTGAGE30US | current FY |