Median rents, rental comps, and market trends across 9 zip codes in Savannah, GA.
The tourism dollars are obvious — the long-term rental math is what most investors overlook. Short-term vs long-term strategy dramatically affects your returns here, and the city has opinions about which one you pick.
Median Asking Rent
$1,888
Rent Change (YoY)
+0.5%
Avg Days on Market
48
Active Rental Listings
1,891
Median List Price
$330,000
Average across 9 zip codes
ZIP | Median Rent |
|---|---|
| 31401 | $2,228/mo |
| 31410 | $2,150/mo |
| 31405 | $1,800/mo |
| 31419 | $1,796/mo |
| 31407 | $1,795/mo |
| 31404 | $1,750/mo |
| 31406 | $1,650/mo |
| 31415 | $1,550/mo |
| 31408 | $1,500/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,518/mo |
| 1 Bedroom | $1,350/mo |
| 2 Bedroom | $1,600/mo |
| 3 Bedroom | $2,000/mo |
| 4 Bedroom | $2,385/mo |
Aggregated median across all Savannah zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 31401 | $674,900 |
| 31410 | $435,000 |
| 31405 | $419,900 |
| 31407 | $343,000 |
| 31406 | $330,000 |
| 31419 | $329,990 |
| 31404 | $311,000 |
| 31408 | $275,000 |
| 31415 | $189,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,720/mo |
| 1 Bedroom | $1,820/mo |
| 2 Bedroom | $1,990/mo |
| 3 Bedroom | $2,650/mo |
| 4 Bedroom | $3,020/mo |
Fair Market Rents are published annually by HUD for the Savannah metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Savannah, GA is currently $1,888/month, based on active rental listings across 9 zip codes. Median asking rents have increased by +0.5% over the past 12 months.
Asking rents vary significantly across the city. ZIP 31401 has the highest median asking rent at $2,228/month, while ZIP 31408 comes in at $1,500/month.
Rental listings in the area spend an average of 48 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Savannah metro area is $1,990/month. Current median asking rents are near or below the FMR for this area.
Savannah is a market where your rental strategy matters as much as your rent estimate. The historic district drives major tourism, and short-term rentals can generate significantly more revenue than long-term leases in certain areas — but the city has been tightening STR regulations. Hunter Army Airfield and Fort Stewart (nearby) provide military renter demand. The Victorian District and Ardsley Park are premium for long-term rentals. West Savannah and the Southside are more affordable. SCAD (Savannah College of Art and Design) brings a student population too. It's a smaller market, so the tenant pool is thinner, but the fundamentals work if you pick the right strategy and the right location.
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Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
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