The Average Rent in Savannah
Need a bit of southern charm and Spanish moss everywhere you go? Consider living in Savannah.
This beautiful city is a true melting pot of old and new. The period architecture can be found alongside the trendy boutiques. Innovative coastal cuisine comes before a ghost walking tour, steeped in pirates and the past.
With a reputation for hospitality and grace, Savannah offers residents a small town with a lot of diversity. This is all the more true as your branch goes beyond the central and historic districts. You’ll easily find your niche in a place like Savannah, and if you’re lucky you’ll have a waterfront view to go with it.
What’s the average rent in Savannah?
Drawing on history buffs, fashionistas, art lovers and more, it’s good that Savannah is a relatively affordable place to live. While the average rent in Savannah is up just over 2% from last year, you can still find the perfect neighborhood within your budget.
Expect to pay $ 1,181 per month, on average, for a one-bedroom apartment. That’s about 26% below the national average for 2020.
How much do i need to earn to live in Savannah?
To balance the basic rental expenses and still have the money to have fun in Savannah, it’s important to budget. Starting with rent, most experts say you shouldn’t be spending more than 30% of your pre-tax income on housing. This leaves a lot of surplus for bills and recurring expenses like groceries and fun money.
Taking into account the average monthly rent in Savannah is $ 1,181, you need to earn a minimum of $ 47,240 per year to hit that 30% mark. This means that most of the inhabitants of this southern city are doing well. The average salary is $ 56,000.
Since there will always be possibilities to increase your rent for a more luxurious apartment, it is best to calculate what you can really afford based on your actual salary and budget. This rent calculator takes the guesswork out of the process.
The cost of living in Savannah
While determining an ideal budget for rent comes first, what follows is to make sure that you can afford all of the other expenses that life entails. This includes everyday items and regular services that you will need to rely on from time to time. These elements come together to help you estimate the Savannah Cost of Living Index.
Fortunately, the cost of living here is 11.2% lower than the national average. Here are some of the main factors contributing to this habitable number.
- Housing: The cost of housing in Savannah is 34.9% lower than the national average.
- Groceries: The cost of groceries in Savannah 5.9 percent lower than the national average.
- Utilities: The cost of utilities, such as electricity and gas, in Savannah is 4.1% lower than the national average.
- Miscellaneous goods and services: The cost of miscellaneous goods and services in Savannah is 1.7 percent lower than the national average.
- Transport: The cost of transportation in Savannah, which includes public buses, shuttles and ferries, is 1.9% lower than the national average.
- Health care: The cost of health care in Savannah is 7.1% higher than the national average.
Many of these factors contributing to the overall cost of living are lower than the national average. This means that considering calling Savannah home is getting better and better.
The most and cheapest areas of Savannah
The city seems to almost split in half when you look at the average rent between neighborhoods. In the north, where you’ll find the city center and most of its historic communities, you’ll also find the highest rents. Lower rental neighborhoods tend to cluster under downtown Savannah.
While there appears to be a north-south dividing line, the neighborhoods at the two ends of the rent scale stretch out to the east and west.
Whichever direction you look for your next home, you will see historic architecture, lots of huge and ancient trees, and a relaxed, warm atmosphere. You will quickly feel at home.
The most expensive neighborhoods in Savannah
Downtown Savannah is truly the hub of the city’s most expensive neighborhoods. Around the city center are all the historic districts. They feature the buildings, plaques and statues that promote Savannah’s rich history. You’ll see southern charm, bump into city life, and immerse yourself in the beauty of the river.
For an architectural taste of history and quite unique places to live, check out the Historic South District. Here you will see pre-war mansions and neo-Gothic churches among clusters of trendy cafes. You can also take a walk through Forsyth Park and enjoy the ornate and iconic fountain.
Home styles get a bit more modern when you move into Pine Gardens, where you’ll find the Savannah Golf Club. The average home here wasn’t built until 1969. Yet this upscale neighborhood blends history with a suburban feel, paying homage to everything Savannah holds dear.
Coming to the bottom of the more expensive list you’ll find Chatham Parkway, which focuses on history for proximity to more modern activities. From here it’s easy to get to Savannah College of Art and Design (SCAD) and Memorial Health University Medical Center.
Cheapest neighborhoods in Savannah
Savannah neighborhoods with the lowest average rent may congregate in the southern part of the city, but Midtown isn’t that far from downtown. Located smack in the middle of the cheapest list, it’s a bustling part of town with plenty of hotels, restaurants, boutiques, and antique stores. It also has a vibrant nightlife.
Shopping is also a common denominator in these neighborhoods. But you will always find a combination of architectural styles, waterfront and more.
Then there are the college “towns” on this list. Armstrong Atlantic and Windsor Forest are both close to the Armstrong Campus of Georgia Southern University as well as Armstrong Atlantic State University. The proximity to students probably explains why these two communities have seen an increase in rental prices over the past year.
While some cheaper neighborhoods in Savannah are raising their prices, others are seeing rent cuts. Even MidTown, with all its fun and activity, is becoming a more affordable neighborhood. Rents have fallen nearly 30% from last year.
Average Rental Prices in Savannah Neighborhoods
It’s good to have options when looking for an apartment in Savannah. Depending on your own budget, you can go from finding a downtown property for $ 1,871 a month to finding the perfect spot for under $ 1,000 just a few miles away.
Here’s how Savannah’s neighborhoods stack up when it comes to rentals.
Find your Savannah neighborhood
Savannah is one of those cities that is easy to fall in love with after just one visit. The oaks and town squares give off an ambiance that is hard to find elsewhere. Maybe that’s the whole story, or maybe the ghosts. It could also be the relaxed and friendly air that pervades the city.
Either way, maybe it’s time to consider living in Savannah. All you have to do is decide which neighborhood is right for you.
Rental prices are based on a moving weighted average of Rent.com’s Apartment Guide and Multi-Family Rental Inventory for one-bedroom apartments. The data was extracted in February 2021 and is one year old. We use a weighted average formula that more accurately represents the price availability for each individual unit type and reduces the influence of seasonality on rental prices in specific markets.
Neighborhoods with insufficient inventory were excluded.
Data on the cost of living come from Community and Economic Research Council.
The rental information included in this article is used for illustration purposes only. The data contained in this document does not constitute financial advice or a price guarantee for any apartment.
