Savannah, GA: Rental Property Market Guide

Updated March 2026 · Pop. 150,249

Savannah's economy is being reshaped by two forces: the Port of Savannah (the fastest-growing container port in the US) and SCAD (Savannah College of Art and Design), one of the largest art and design schools in the world. The port expansion — including the new Mason Mega Rail terminal — has made Savannah one of the most important logistics hubs on the East Coast, creating thousands of warehousing, trucking, and operations jobs. Meanwhile, SCAD enrolls 15,000+ students and has transformed the city's historic district into a living campus, driving rental demand and supporting the tourism economy. For investors, Savannah pairs port-driven working-class demand with student and tourism-driven premium demand — two tenant pools that rarely overlap, which provides natural diversification.

The Port Economy

The Georgia Ports Authority's Garden City Terminal handles 5.5+ million TEUs (twenty-foot equivalent units) annually, and the expansion plans will push capacity to 11+ million by 2030. This growth is creating massive demand for warehouse workers, truck drivers, logistics coordinators, and equipment operators earning $35-55K. The west Savannah and Garden City areas (31405, 31408) near the port have the strongest working-class rental demand: properties at $180-250K renting for $1,100-1,400. The Pooler suburb (31322), between the port and I-95, has exploded with new development — retail, restaurants, and housing — making it the fastest-growing submarket in the Savannah metro. Pooler properties run $250-320K with rents of $1,400-1,700.

The Historic District and SCAD

Savannah's historic district is one of the most beautiful urban environments in America — 22 public squares, Spanish-moss-draped oaks, and 200-year-old architecture. It's also the core of SCAD's campus, which means student rental demand is woven throughout. Properties in the historic district are expensive ($350-600K for a townhome) but can generate premium rents ($1,800-2,500/month) from SCAD graduate students, visiting faculty, and professionals who want to live in the heart of the city. Be aware that the historic district has strict architectural review requirements — exterior changes (paint colors, window replacements, even fence materials) must be approved by the Historic District Board of Review. This limits renovation flexibility but preserves the property values that make the district special.

Short-Term Rental Revenue

Savannah is one of the better STR markets in the Southeast. Tourism generates $3.5 billion annually, and the historic district has strong year-round demand (not just seasonal). A property that generates $1,350/month as a long-term rental can produce $2,500-4,000/month as a well-managed STR during peak season (March-June, October). Savannah allows STRs in the historic district with a Certificate of Use, but regulations have tightened — there are caps on the number of STR certificates in certain zones, and non-owner-occupied STRs face additional requirements. If STR income is part of your investment thesis, verify permit availability before buying. The City of Savannah's Livable Chatham office administers STR permits.

Chatham County Taxes and Georgia Specifics

Chatham County's effective property tax rate for non-homesteaded (investor) properties is approximately 1.2%. On a $280K property, annual taxes are about $3,360. Georgia does not offer the homestead exemption to non-owner-occupied properties, so your tax bill will be higher than what the seller (if owner-occupant) was paying. Georgia has a state income tax of 1-5.49% that applies to rental income. The Chatham County Board of Assessors website (boa.chathamcounty.org) has property records. Savannah properties near the coast also face hurricane risk — flood insurance and windstorm coverage can add $1,500-3,000/year for properties in FEMA flood zones. Hunter Army Airfield on the south side provides additional military rental demand (BAH-funded tenants).