The Savannah real estate market blends genuine historic préservation with a growing tourism economy, a major art school, and military employment, creating diverse demand that supports prices across multiple property types and price points. Median home prices in Savannah run around $330,000, with Victorian and Italianate single-family homes in the Victorian District, Ardsley Park, and Thomas Square neighborhoods trading from $350,000 to over $1 million for fully restored properties on Forsyth Park. The Savannah College of Art and Design (SCAD) enrollment adds sustained student and faculty demand to an already active market.
Short-term rentals, SCAD, and financing in Savannah
Savannah historic district properties are among the most active short-term vacation rental markets in the Southeast, with well-located homes and carriage houses generating significant income from tourists visiting the squares, River Street, and Forsyth Park. City of Savannah STR regulations should be reviewed carefully before purchasing with vacation rental income as a primary investment thesis. VA loans are widely used given proximity to Hunter Army Airfield. FHA loans apply across most Savannah price points. Conventional financing covers mid-range and investment transactions.
Chatham County property taxes run approximately 0.9-1.1% of assessed value. Investors find Savannah attractive for long-term cap rates of 4.5-6% and STR gross yields that can be significantly higher for licensed vacation rentals in the historic district. SCAD student housing demand near the downtown campus supports per-bedroom rents that generate strong total income from renovated single-family homes. Long-term appreciation in Savannah has been steady, anchored by the combination of historic supply constraints, growing tourism, and ongoing corporate development in the port logistics sector.
