The median home price in Savannah is $290,000, while the median household income is $57,000 per year. Using the 30% debt-to-income rule with a 6.36% (Freddie Mac PMMS · week of ) mortgage rate and 20% down payment, you need $72,680/yr to afford it — $15,680 above the median income. On the median income, you can afford a home up to approximately $222,000.
Savannah's cost of living index is 100 (national average = 100). The price-to-income ratio of 5.1x indicates a moderately challenging housing market for first-time buyers. The local property tax rate is 0.9%, adding $2,668/yr to ownership costs.
Data as of · Sources: Zillow, Census ACS, Tax Foundation, Freddie Mac
See exactly what $X/mo PITI does to your Savannah, GA take-home — open the calc with city defaults.
Open the calculatorFind the max home price you qualify for in Savannah, GA given real PITI + DTI rules.
Based on 20% down, 6.4% 30-year fixed rate (Freddie Mac PMMS · week of ), and the 30% DTI rule. Includes principal, interest, property taxes, insurance, and PMI where applicable.
| Home Price | Income Needed | Monthly PITI | Down Payment |
|---|---|---|---|
| $200,000 | $52,000 | $1,300/mo | $40,000 |
| $290,000 * | $72,680 | $1,817/mo | $58,000 |
| $300,000 | $75,000 | $1,875/mo | $60,000 |
| $500,000 | $121,000 | $3,025/mo | $100,000 |
| $750,000 | $178,480 | $4,462/mo | $150,000 |
* Savannah median home price. Assumes 0.9%property tax, $1,800/yr homeowner's insurance.
Saving for $58,000 (20% of $290,000) on the median household income of $57,000.
At a 15% savings rate, it takes about 6.8 years to save a full 20% down payment in Savannah. Consider FHA loans (3.5% down) or conventional loans with PMI to accelerate your timeline.
PITI breakdown for the median home ($290,000) at different down payment amounts.
| Down Payment | Principal | Interest | Taxes | Insurance | PMI | Total PITI |
|---|---|---|---|---|---|---|
| 3.5% ($10,150) | $260 | $1,483 | $222 | $150 | $117 | $2,232/mo |
| 5.0% ($14,500) | $256 | $1,460 | $222 | $150 | $115 | $2,203/mo |
| 10.0% ($29,000) | $242 | $1,383 | $222 | $150 | $109 | $2,107/mo |
| 20.0% ($58,000) | $216 | $1,230 | $222 | $150 | $0 | $1,817/mo |
Based on 6.4% 30-year fixed rate (Freddie Mac PMMS · week of ), 0.9% property tax, $1,800/yr insurance. PMI at 0.5% of loan balance for down payments below 20%.
Comparing median rent of $1,598/mo to owning the median home ($290,000) with 20% down.
Verdict: Buying is favorable within 2 years in Savannah. Owning costs $219/mo more than renting, but builds equity over time.
Compared by price-to-income ratio (lower is more affordable). All data uses median home prices and household incomes.
| City | Median Home | Median Income | Price/Income | Property Tax |
|---|---|---|---|---|
| Savannah, GA | $290,000 | $57,000 | 5.1x | 0.9% |
| Augusta, GA | $200,000 | $52,200 | 3.8x | 0.9% |
| Columbus, GA | $185,000 | $48,000 | 3.9x | 0.9% |
| Macon, GA | $165,000 | $38,500 | 4.3x | 1.1% |
| Atlanta, GA | $385,000 | $71,400 | 5.4x | 0.9% |
| Athens, GA | $275,000 | $42,500 | 6.5x | 1.1% |
Housing economics in Savannah, GA. The median home value runs 19.0% below the U.S. baseline for Savannah, GA is $290,000 per Zillow's home-value index. Median rent runs $1,598 a month per Zillow ZORI, cheaper than the national $1,850 baseline. Effective property tax sits at 0.92% of assessed value, below the 0.99% national average tracked by the Tax Foundation. Lenders in Savannah, GA have quoted 6.36% on the 30-year fixed product over the trailing four-week window per Freddie Mac PMMS — the prevailing posted rate before any borrower-specific lock-ins.
Income and tax climate. Median household income in Savannah, GA reaches $57,000 per the ACS five-year vintage, trailing the $78,538 U.S. median. GA's top marginal state income tax bracket lands at 5.39% — compared to the volume-weighted national average around 4-5%. BEA's Regional Price Parity scores Savannah, GA at 100.0 (national = 100), meaning a dollar in Savannah, GA buys 100¢ — more goods and services than the same dollar nationally.
How Savannah, GA's numbers shape the calculator. The mortgage payment, refinance, PMI, and home-affordability calculators all run on three local inputs that swing the answer materially: the prevailing 30-year fixed rate, the effective property tax rate as a share of home value, and the homeowners-insurance premium that the average policyholder is paying for the same coverage envelope. Savannah, GA-specific values for each of those are pre-loaded above so the calculator's default scenario reflects what an actual buyer would see at closing, not a national average that smooths over the differences. Override any field to test a different scenario; the math reruns instantly in your browser without sending the inputs anywhere.
Local context as of 2026-05-28. Live data sources are listed in the Sources section below; each metric carries its own retrieval date.
How does Savannah, GA stack up against the national average on the metrics that drive the calculators on this page? The table below pairs the Savannah, GA-specific reading against the U.S. baseline so you can see at a glance whether your local scenario runs above or below typical. Three to five percentage points of difference on most of these inputs translates into meaningful changes in calculator output — for example, a 50-basis-point difference in mortgage rate moves the monthly payment on a $400,000 30-year loan by roughly $130.
| Metric | Savannah, GA | U.S. baseline | Difference |
|---|---|---|---|
| Median home value[zillow] | $290,000 | $358,000 | -19.0% |
| Median monthly rent[zillow] | $1,598/mo | $1,850/mo | -13.6% |
| Property tax rate (effective)[tax-foundation] | 0.92% | 0.99% | -7.1% |
| Cost-of-living index[bea-rpp] | 100.0 | 100.0 | 0.0 pts |
Walk through the home-affordability check with Savannah, GA defaults pre-loaded from primary sources.
The median home price in Savannah is $290,000 as of 2025. The city's cost of living index is 100 (national average = 100), and the median household income is $57,000.
To afford the median home of $290,000 in Savannah with 20% down and a 6.4% mortgage rate, you need a household income of approximately $72,680 per year. This is based on the 30% debt-to-income rule, where your monthly PITI payment of $1,817 should not exceed 30% of gross monthly income.
The effective property tax rate in Savannah is 0.9%. On the median home price of $290,000, that equals approximately $2,668 per year or $222/month.
The median monthly rent in Savannah is $1,598, while monthly PITI on the median home (20% down) is $1,817. Buying is favorable within 2 years in Savannah. Over 5 years, renting costs approximately $101,808 total, while buying costs $175,720 but builds $112,429 in equity.
A 20% down payment on the median Savannah home ($290,000) is $58,000. FHA loans accept as little as 3.5% ($10,150), though that requires mortgage insurance.
Savannah's median household income is $57,000/yr (Census ACS). The cost-of-living index is 100 (US = 100).
Savannah's median home ($290,000) and rent ($1,598/mo) sit alongside Georgia statewide medians, which the table on this page benchmarks against.
Savannah numbers are pulled from Zillow ZHVI/ZORI (home values, rent), the U.S. Census Bureau ACS (income, demographics), and local assessor data (property tax). Each value is timestamped on the page.
Source feeds (Zillow, Freddie Mac PMMS, Census ACS) refresh on their native cadence — hourly for rates, monthly for ZHVI/ZORI, annually for ACS. Page caches revalidate every 24 hours via Next.js ISR.
No. The Savannah affordability calculator is educational reference using public data and standard formulas. It is not personalized mortgage, tax, or financial advice. Talk to a licensed loan officer before signing.
Median home price uses Zillow Home Value Index (ZHVI)[1]. Median rent uses ZORI; where ZORI is unavailable we fall back to HUD Fair Market Rent[2].
Median household income is the Census ACS 5-year estimate[3].
Property tax rate is the effective rate from the Tax Foundation[4]. Actual millage varies by county.
Mortgage calculations use 6.4% (Freddie Mac PMMS · week of ) national average 30-year fixed rate (PMMS)[5], 30-year term, $1,800/yr homeowners insurance[7], and 0.5% PMI when down payment is below 20%.
"Income needed" uses the 30% front-end DTI rule: monthly PITI ≤ 30% of gross monthly income. The price-to-income ratio (P/I) is computed as median home price / median household income; 3x or below is generally considered affordable, 4–6x challenging, 6x+ severely unaffordable.
Rent vs. buy assumes 3% annual rent inflation, 3.5% annual home price appreciation, 3% closing costs, and compares 5-year cumulative cost. "Breakeven year" is where cumulative ownership cost minus equity falls below cumulative rent.
Federal tax in the take-home calculation uses IRS single filer, standard deduction; state tax applies the top-marginal rate after state standard deduction; FICA = 6.2% SS + 1.45% Medicare.
Context for median sales price cross-references the NAR[6] where applicable.
Last reviewed reflects the maximum retrievedAt timestamp across all sourced data feeding this page.
Home price data from Zillow[1] / NAR[6] (2024–2025). Income data from Census ACS[3]. Property taxes from Tax Foundation[4]. Mortgage calculations assume 6.4% 30-year fixed rate[5], $1,800/yr insurance[7], 0.5% PMI. DTI uses 30% front-end rule. Rent vs. buy assumes 3% annual rent increases and 3.5% annual home appreciation. Last reviewed .