Savannah real estate feels like shopping for ice cream with too many flavors – Spanish moss-draped historic squares, beachfront bungalows, and suburban cul-de-sacs all compete for your attention and wallet. After diving deep into market data and neighborhood quirks, I've organized everything you actually need to know about buying in this coastal Georgia city where median prices range from $130,000 in Georgetown to over $1.2 million in the Historic District.
Understanding Savannah's shifting market
The local real estate scene is doing something interesting right now that could work in your favor.
After years of sellers calling all the shots, inventory has jumped 51.5% year-over-year to 2,217 homes. Properties now sit on the market for an average of 44 days instead of flying off the shelves in a weekend. Sharon Miller from the Savannah Area Realtors notes that while sellers still receive 98.4% of asking price, the days of bidding wars over every listing are fading.
The citywide median hovers around $350,000, with experts projecting 3% growth through 2025 as interest rates slide below 6.5%. This gradual shift toward balance means you might actually have time to think about an offer instead of writing one in the car outside the showing.
What's driving the market forward
Two massive projects are reshaping Savannah's growth trajectory in ways that make city planners both excited and nervous.
The Hyundai Metaplant represents a $7.59 billion investment bringing 8,500 direct jobs plus 40,000 indirect positions to the area. Chester Ellis from the County Commission warns that "every community from Bloomingdale to Tybee will be affected" by this incoming wave of workers and their families. Meanwhile, the Eastern Wharf development is pumping $600 million into downtown's biggest expansion in two centuries, adding luxury waterfront living that's already attracting young professionals tired of Atlanta traffic.
Price ranges across Savannah neighborhoods
Let me break down what your money actually buys in different parts of town, starting with the reality check zones and working toward more budget-friendly options.
The luxury league ($700K and up)
The South Historic District tops the charts with a median of $1.2 million for homes that make Instagram photographers weep with joy. These 18th and 19th-century beauties sit within America's largest National Historic Landmark District, where your biggest renovation debate might be whether that paint color is historically accurate enough for the review board.
Ardsley Park and Chatham Crescent command $792,000 to $887,000 for early 20th-century homes where 72.6% of your neighbors have college degrees and the median household income hits $136,697. These tree-lined streets feel like the neighborhood where the cool English professor lives, complete with Tudor Revival homes and proximity to Habersham Village shopping.
Tybee Island rounds out the luxury tier at $722,500 median, though the market has shifted to buyer-friendly conditions with homes lingering 82-85 days. You're essentially paying for the privilege of sand between your toes and potential vacation rental income that can exceed $70,000 annually.
Mid-tier options ($400K-$700K)
Downtown condos average $682,000 median for those who want to walk everywhere and don't mind tourists photographing their front door. The Victorian District offers slightly better value at $475,000 median, positioning itself as Savannah's original suburb with Queen Anne homes that sell in about 41 days.
Whitemarsh Island has experienced 81% price appreciation to reach $444,000, though 99% of properties face extreme flood risk. The Savannah Yacht Club lifestyle appeals to those who prioritize marina access over dry basements. Coffee Bluff ranges from $400,000 to $600,000 for standard homes, jumping to $2 million plus for deep-water dock access.
Affordable reality ($200K-$400K)
Here's where things get interesting for normal humans with normal budgets.
Pooler leads the growth parade with medians between $350,000-$391,000, driven by its proximity to major employers and new construction from every builder who owns a hammer. Windsor Forest offers established all-brick homes around $283,000 to $330,000, anchored by a brand-new $92 million high school that makes other districts jealous.
Wilmington Island presents the best island value at $227,935, offering suburban comfort with a 16-minute downtown commute. Georgetown wins the affordability crown with homes from $130,000 to $300,000 in covenant-protected neighborhoods that attract military families from nearby Hunter Army Airfield.
Critical factors every buyer needs to consider
Before you fall in love with that Victorian fixer-upper or beach cottage, let's talk about the less romantic realities of Savannah homeownership.
The flood insurance reality check
Coastal living comes with a side of flood insurance that averages $800-$1,000 annually for moderate risk areas. Whitemarsh Island's 99% extreme flood risk properties and Tybee Island's 100% flood plain designation push premiums to $1,000-$2,000 or higher. One local agent told me about a client who loved a Whitemarsh home until the insurance quote arrived and suddenly that Georgetown ranch looked much more appealing.
Your flood insurance costs depend on:
- Elevation relative to base flood level
- Distance from water bodies
- Home's foundation type
- Previous flood claims
- Specific flood zone designation
Property tax considerations
Chatham County's effective rate of 0.96% beats the national average, though Pooler residents pay the highest at 1.08%. On a $350,000 home, you're looking at roughly $3,360 annually in most areas, or $3,780 in Pooler. The homestead exemption can reduce your bill if you're buying a primary residence, so don't forget to file that paperwork unless you enjoy giving the government extra money.
Short-term rental restrictions
Dreams of Airbnb income funding your mortgage payment face serious restrictions in Savannah.
The city limits short-term rentals to specific zones including the Historic District, Victorian District, and Streetcar District. Even there, a 20% ward cap creates multi-year waitlists for permits. Properties with existing STVR certificates command premium prices because that permit is golden. Tybee Island currently allows vacation rentals but proposed regulation changes could restrict licenses in residential zones, adding uncertainty to investment calculations.
Historic district hurdles
Living in the Historic or Victorian districts means the Historic Review Board becomes your new best friend for any exterior changes. Want to paint your shutters? Better check if that color existed in 1890. Need a new roof? Hope you like slate or materials that look exactly like slate. These restrictions preserve property values and neighborhood character, but they can turn a simple renovation into a historical research project.
Best neighborhoods by buyer type
Let me match you with neighborhoods based on what actually matters for your situation.
First-time buyers seeking starter homes
Georgetown offers the best entry point into Savannah homeownership with properties from $130,000 to $300,000. Located 14 miles southwest of downtown, these covenant-protected neighborhoods maintain standards without crushing HOA fees under $500 annually. The crime rate of 21.82 per 1,000 residents falls below city averages, and military families from Hunter Army Airfield create a stable community vibe.
Pooler's Rice Creek development brings new construction starting in the low $300,000s, with Georgia Dream offering $10,000 down payment assistance for qualified buyers. You only need a 640 FICO score, and teachers plus healthcare workers get special benefits because apparently Georgia wants to keep its essential workers housed.
Families prioritizing schools and space
Wilmington Island balances everything families need without luxury prices. At $227,935 median, you get access to Islands High School ranked #152 in Georgia and Coastal Middle School with its 4-star rating. The 16-minute downtown commute works for working parents, while Johnny Mercer Boulevard provides Kroger-anchored shopping so you're not driving to town for milk.
If you can stretch the budget, Ardsley Park rewards families with Jacob G. Smith Elementary's A-minus rating and walkable access to Habersham Village. You'll need $167,000 to $173,000 annual income for the median-priced home, but your kids can walk to Daffin Park and you'll live among neighbors where 72.6% hold college degrees.
Windsor Forest delivers suburban comfort with its new $92 million high school that other districts visit just to feel inadequate. The all-brick homes on large wooded lots average $283,000 to $330,000, with 67.2% homeownership creating the stable neighborhood feel families crave.
Young professionals wanting urban energy
Thomas Square in Midtown has jumped 37% year-over-year because twenty-somethings discovered you can walk to Foxy Loxy Café, Two Tides Brewing, and Starland District's quirky shops. Being near Memorial Health and St. Joseph's hospitals also appeals to medical professionals who value short commutes over yard work.
The Victorian District puts you a 5-10 minute walk from downtown in 1870-1910 homes with original millwork and proximity to Savannah Arts Academy. At $475,000 median with 41-day average sales, this neighborhood attracts creative types who appreciate both historic character and coffee shop density.
Downtown condos command $682,000 for the ultimate urban experience with a Walk Score of 92. Yes, you'll pay $125 to $350 monthly HOA fees and $15 daily for visitor parking passes, but you can stumble home from River Street bars and tourists will photograph your building like it's a monument.
Retirees choosing their final adventure
Whitemarsh Island offers the country club retirement dream at $444,000 median, complete with Savannah Yacht Club membership potential and marsh views that make sunset cocktails mandatory. Just accept that 99% of properties face extreme flood risk and budget accordingly for insurance that might cost more than your golf membership.
Coffee Bluff provides a quieter retirement at $400,000 to $600,000 for standard homes, with waterfront properties reaching $2 million plus. The exceptional safety score of 1 out of 10 for crime means your biggest worry is whether the fish are biting at Coffee Bluff Marina.
Tybee Island suits retirees who always dreamed of beach living and don't mind 82-85 day market times giving them negotiating power. The $1,000 to $2,000 flood insurance and hurricane evacuation drills are just the price of watching dolphins from your porch.
Investors eyeing opportunities
Short-term rental investors should study Tybee Island's $70,000 annual income potential against proposed regulation changes that could restrict residential zone rentals. Properties with existing STVR certificates in the Historic District command premiums because new permits face multi-year waitlists.
Pooler offers appreciation potential near the Hyundai Metaplant and established employers like Gulfstream Aerospace. The city's 331% growth since 2000 suggests the trajectory continues, though you'll pay the county's highest property taxes at 1.08%.
Major developments reshaping the market
Two projects are fundamentally altering Savannah's growth patterns in ways that affect every neighborhood.
The Hyundai Metaplant's 8,500 direct jobs plus 40,000 indirect positions will impact housing from Bloomingdale to Tybee. Pooler and western suburbs will likely see the most direct benefit, with new communities like Savannah Quarters and Villages at Godley Station already positioning themselves for the influx.
Eastern Wharf's $600 million investment brings luxury waterfront living to downtown's eastern edge. This isn't just another condo project but downtown's biggest expansion in 200 years, attracting buyers who want new construction with historic district proximity.
The Islands Expressway Bridge construction continues through 2026, currently complicating island commutes but promising to eliminate drawbridge delays once complete. If you're buying on the islands, factor in construction headaches for the next year but improved access long-term.
Making your move in Savannah's market
Success in Savannah's transitioning market requires understanding each neighborhood's personality beyond the statistics.
The Historic District isn't just expensive; it's a lifestyle choice where your home is a museum piece and tourists are your permanent neighbors. Pooler isn't just growing; it's transforming from suburban afterthought to economic epicenter. The islands aren't just beach access; they're a calculated risk between paradise and flood insurance sticker shock.
With inventory growing and interest rates declining, buyers finally have breathing room to make thoughtful decisions. Whether you're stretching for Victorian District character, settling into Georgetown affordability, or gambling on Tybee Island rental income, Savannah offers something for every budget and tolerance for quirks. Just remember to factor in flood insurance, property taxes, and whether you can handle the Historic Review Board telling you that your doorbell isn't period-appropriate.
The market is shifting in buyers' favor for the first time in years. If you've been waiting for your moment to join Savannah's unique blend of Southern charm and coastal living, this might be it. Just don't wait too long because 8,500 Hyundai workers are heading this way, and they'll need somewhere to live too.
