Mortgage payment estimates, closing cost breakdowns, and homebuying data for Savannah, Georgia.
Median Home Price
$310K
Population
148K
Avg Monthly Rent
$1,380
Property Tax Rate
0.92% *
* Property tax shown is the Georgia state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Savannah.
Savannah vs Georgia Median
The median home price in Savannah is $310,000, which is 9% below the Georgia state median of $340,000.
Mortgage Calculator — Savannah, GA
Pre-filled with Savannah median home price and Georgia tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $310K home using Georgia's 0.92% tax rate and $2,200/yr insurance.
5% Down
$2,454/mo
Down: $15,500
Loan: $295K
P&I: $1,861
Tax: $238
Insurance: $183
PMI: $172
10% Down
$2,347/mo
Down: $31,000
Loan: $279K
P&I: $1,763
Tax: $238
Insurance: $183
PMI: $163
20% Down (No PMI)
$1,989/mo
Down: $62,000
Loan: $248K
P&I: $1,568
Tax: $238
Insurance: $183
Income needed (28% rule): $85K/year with 20% down, $101K/year with 10% down.
Rent vs Buy in Savannah
Rent
$1,380/mo
vs
Buy (10% down)
$2,347/mo
Price-to-rent ratio: 18.7 — A ratio between 15-20 means the rent vs buy decision in Savannah depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Savannah is $310,000, 9% below the Georgia state median of $340,000. With a population of 147,780, Savannah is a mid-size city where home prices tend to be more accessible than in many parts of Georgia.
Property taxes in Georgia average 0.92% annually. This moderate property tax rate means a $310,000 home in Savannah would carry roughly $238/month in property taxes. Homeowners insurance in Georgia runs approximately $2,200 per year. This is within the normal range nationally.
Average rent in Savannah is $1,380/month. The price-to-rent ratio in Savannah is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Savannah presents moderate affordability. The $310K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Savannah.