Home Values in Savannah, Georgia — 2026 Market Report
Updated March 2026 | Seller's Market | +6.5% YoY
The median home value in Savannah, Georgia is $255,000 as of March 2026, which is below the national median of $400,000. Home values in Savannah have increased by 6.5% over the past year and 37% over the last five years. With a population of 147,780 and a median household income of $42,825, the price-to-income ratio stands at 6.0x, making Savannah affordable for the average household.
Savannah Housing Market Conditions
| Metric | Savannah | National Avg |
|---|---|---|
| Median Home Value | $255,000 | $400,000 |
| YoY Appreciation | +6.5% | +3.8% |
| 5-Year Appreciation | +37% | +22.4% |
| Price per Sq Ft | $80 | $222 |
| Days on Market | 33 days | 45 days |
| Months of Supply | 2.6 | 3.5 |
| List-to-Sale Ratio | 99.1% | 98.5% |
| Monthly Homes Sold | 140 | — |
| Foreclosure Rate | 0.3% | 0.3% |
Home Value Trends in Savannah
A homeowner who purchased at the median price of $186,131 five years ago in Savannah would have gained approximately $68,869 in equity, representing a 37% return on investment. Over the past year alone, the typical homeowner gained $15,563 in home equity.
Affordability in Savannah, GA
With a median household income of $42,825 and a median home price of $255,000, the price-to-income ratio in Savannah is 6.0x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,954 compared to estimated monthly ownership costs of $1,407 gives a rent-vs-buy ratio of 0.72. In Savannah, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Savannah
The effective property tax rate in Georgia is 0.92%. On a home valued at $255,000, the estimated annual property tax bill is $2,346, or approximately $196/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Savannah is 89.5 (100 = national average), indicating living costs are below the national average.
Calculate Your Mortgage Payment in Savannah
Use our free calculator to estimate monthly payments for a $255,000 home
Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Savannah, GA?
The median home value in Savannah, Georgia is $255,000 as of March 2026. Home values have changed +6.5% over the past year, with a 5-year appreciation of 37%.
Is Savannah a buyer's or seller's market?
Savannah is currently a seller's market with 2.6 months of housing supply. Homes spend an average of 33 days on market, and the list-to-sale price ratio is 99.1%. Low inventory gives sellers an advantage.
Are home values going up in Savannah?
Yes, home values in Savannah have increased by 6.5% over the past year. The 5-year appreciation rate is 37%, meaning a home worth $186,131 five years ago is now worth $255,000.
Is it better to rent or buy in Savannah?
The average monthly rent in Savannah is $1,954, while estimated monthly homeownership costs are approximately $1,407. The price-to-rent ratio is 10.9. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other Georgia Cities
Related Resources
Disclaimer: Home value data for Savannah, Georgia is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.