Savannah Real Estate Market Overview
Average Monthly Rent:
$1,014
Percentage Change in Home Price/Value:
5.20%
Median Home Value:
$134,000
Best Time To Sell Home:
June
Affordability Index:
148.3
Days To Sell House:
80.67
Job Market:
Strong
Public School Ranking:
35
Location and Weather
Savannah has the charm of an eclectic truly southern town with a rich history, food culture and thriving tourist business. With the 30-acre Forsyth Park with its famous fountain, Savannah encourages walking and exploration of all the historical buildings, churches and beautiful oak lined streets. The city is at the mouth of the Savannah River on the coastal plan with beautiful flat and low marshland to the north and east.
The Savannah summers are very warm and humid with high temperatures in the upper 90’s. The summer low temperatures are in the mid 70’s. The winter temperatures are cold and damp with high temperatures up to 60 degrees with lows in the low 40’s.
Population, Job Market and Cost of Living
The population growth in 2018 was 0.02% with a population of 145,682. The job growth has increased 1.4% over the last year. Ten-year future predicted growth is 38.5%. With such a beautiful, historically relevant city it’s not a surprise that tourism is one of the largest industries with Accommodation & Food Services. Other major employers are Health Car & Social Assistance and Retail Trade. Major companies who’ve made their base in Savannah include Gulfstream Aerospace – business aircraft, TMX Finance LLC and Memorial University Medical Center, Inc. Savannah is also home to SCAD – the Savanah College of Art & Design, a prestigious private college specializing in the arts. The cost of living is low due to the Savannah Real estate market and the low cost of housing.
With a beautiful historical location, large parks and historic areas that invite strolling, sizable employers, tourist trade, job growth and low cost of living, Savannah is truly a great place to live and work.
