Real Estate Investing in Savannah, Georgia (31406)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 31406 (Savannah, GA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.1% vacancy may signal weakening demand.
What’s happening in Savannah, GA (31406)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 31406 Savannah
The 31406 ZIP in Savannah, GA is a local-operator market. Outside capital chasing a $318K entry has to pair deep knowledge with the discount.
The 31406 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
From an investor standpoint, 31406 offers a low basis, the region around Savannah has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A substantial renter share of 40% in 31406 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Savannah's stable or hybrid ZIPs before stepping into 31406. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Savannah:
Property Strategy for 31406
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $212,731 | $1,670 | 5.7% | +11.4% | $106,366 |
| 3BR | $300,391 | $2,220 | 5.3% | +10.1% | $100,130 |
| 4BR | $542,428 | $2,530 | 3.4% | +9.7% | $135,607 |
| 5BR | $934,083 | — | — | +10.4% | $186,817 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 31406 Compare?
| Metric | 31406 | Savannah | Savannah, GA | Georgia |
|---|---|---|---|---|
| Home Value | $317,587 | $148,885 | N/A | $329,538 |
| 5-Year CAGR | 6.8% | 6.1% | N/A | 7.8% |
| Avg Rent | $1,538 | $1,749 | N/A | - |
| Cap Rate | 3.8% | 4.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 31406 (Savannah, GA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 31406 (Savannah, GA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Chatham County
Manage rentals here? List your business →Cora Bett Thomas Property Management offers Savannah apartments and vacation rentals, including long-term homes, furnished executive rentals, historic properties, and vacation stays. summary from their website
Savannah Property Management offers residential property management services including marketing, tenant screening, rent collection, maintenance, accounting, and eviction. summary from their website
Stewart Property Management provides affordable housing throughout New Hampshire, Vermont, Maine, and Massachusetts. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $317,587 |
| Monthly Rent | $1,538 |
| Price-to-Rent | 17.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.8% |
| Cap Rate | 3.8% |
| 5-Year IRR | 10.6% |
📈 Home Appreciation
| 1-Year | -1.3% ▼ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +6.8% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | -8.4% ▼ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +6.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 31406
Population: 34,649
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 31406
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,871 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the investability score for Savannah, GA?
Savannah, GA records an investability rating of 3.0/5, with median home values near $318K and average rents around $1,538/mo. That combination puts it in the notable tier for investor interest.
Is it easy to find good tenants in Savannah, GA?
Tenant demand in Savannah, GA is solid. The local workforce $1,538/mo rents across most rental classes.
What strategy should investors use in Savannah, GA?
Investors usually favor careful cash-flow rentals with hands-on management in Savannah, GA. With home values at $318K and rents near $1,538/mo, other strategies can work but produce steady rather than outsized returns.
What does house hacking look like in Savannah, GA?
For house hackers, Savannah, GA is a challenging. The $1,538/mo rent on a unit helps defray the mortgage on a $318K property.
Are rents high in Savannah, GA?
Savannah, GA rentals go for roughly $1,538/mo a month. That puts gross yield in solid territory relative to $318K acquisition costs.
You know 31406 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 31406 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 31406 ranks in Savannah, GA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 31406 (Savannah)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 31406 (Savannah, GA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.