Savannah, Georgia Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Savannah, Georgia rental market.
Savannah, Georgia
Average Apartment Rent
$1,684
Y-o-Y Change in Average
Apartment Rent
2%
As of November 2024
Compared to a year ago, Savannah, Georgia apartments have recorded a 2% rent increase.
Savannah, Georgia Average apartment rent trend
Savannah, Georgia Average Apartment Rent
Savannah, Georgia Apartment rent ranges
At 49.85%, apartments priced $1,500 - $2,000 represent the bulk of Savannah, Georgia rentals, while condos priced $700 - $1000 hold the lowest share of the market – 2.23%.
Savannah, Georgia Housing tenure**
Renters take up 54% of Savannah, Georgia real estate, occupying a total of 31,205 units, while homeowners live in 26,468 properties.
Median number of rooms of renter-occupied housing units**
4.5
Renter median household income**
$40,468
Average household size of renter-occupied housing units**
2.35
Rental vacancy rate**
6.7%
Savannah, Georgia Renter-occupied housing units by no. of bedrooms**
There are 12,665 rentals in Savannah, Georgia with 2 beds making up the highest share of the market, at 41%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 184 units. Overall, the median number of rooms in Savannah, Georgia homes for rent is 4.5.
Savannah, Georgia Renter-occupied units by age of householder**
Most condos for rent in Savannah, Georgia are occupied by residents in the 25 - 34 years age group (29%), followed by those in the 35 - 44 years age group (15%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Savannah, Georgia Renter-occupied housing units by family type**
Savannah, Georgia Renter-occupied housing units by the presence of own children**
A total of 14,387 apartments for rent in Savannah, Georgia, or 46% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 8,351 units. All in all, the median size of a renter-occupied household in Savannah, Georgia is 2.35.
Savannah, Georgia Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Savannah, Georgia.
Savannah, Georgia Renter-occupied units by year structure built**
The highest share of Savannah, Georgia apartment rentals, namely 15% or 4,603 units, were Built 1939 or earlier, followed by those Built 1950 - 1959 (13%, 4,170 units), and the ones Built 1980 - 1989 (13%, 4,102 units).
Savannah, Georgia Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Savannah, Georgia renters (41%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Savannah, Georgia condos for rent is 2018.
Savannah, Georgia Renter-occupied housing units by vehicles available**
When it comes to transportation options, 48% of Savannah, Georgia renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 16% have No vehicle available.
Savannah, Georgia Means of transportation to work of householders living in renter-occupied housing units**
Savannah, Georgia Geographical mobility in the past year for householders living in renter-occupied housing units**
Savannah, Georgia Average apartment rent by zip codes
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Savannah, Georgia apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
