Rental

Savannah: Among the Best Places to Invest in Real Estate in Georgia

Consistently ranked as one of the best places to live and retire, Savannah has quickly become one of the best cities to invest in real estate – likely because it has something for everyone!

The city has an official Historic District, a vibrant downtown area with great shopping and dining options, and multiple nearby beaches. Georgia’s oldest city also boasts a growing tech sector and booming film industry, which has created higher rental demand.

This is all great news for those looking for Georgia real estate investing opportunities. But why pick Savannah, specifically? Read on to discover why we think it could be wise to choose Savannah if you plan to invest in Georgia real estate.

Reasons to Find an Investment Property in Savannah, GA

The real estate market in Savannah, Georgia has several key factors that could make it a prime location for future investments. Here's a breakdown of those factors and why they matter for prospective investment plans.

Real Estate Affordability

For starters, real estate prices in Savannah are rising consistently alongside real estate throughout the rest of the country, though at a slower rate. The median sale price is about $351,500 per year as of November 2024. While that's not the most affordable real estate you can find throughout the US, it's far from the most expensive.

More importantly, rent is affordable throughout Savannah, which translates to an easier time filling rental properties with tenants. The average rent per month in Savannah is $2050 per year, and this has actually decreased with time. The more affordable rent becomes, the more likely it is that any rental properties you do purchase in the near future will have tenants sooner rather than later.

Population Increases

The relative affordability of real estate throughout Savannah (both for investors and for tenants) is compounded by an overall population increase throughout the area. According to recent statistics, Savannah has a population of nearly 150,000 just in the core metro area. When you add in the surrounding areas, this is closer to 300,000.

That population is rising. In fact, it's increased by about 0.26% since the last census. In another few years, the population may rise even further, which means that more people will be looking for affordable housing. In theory, this may shift the market from a buyer’s market to a seller’s market – and those who have investment properties in Savannah, GA ready for people to move into will be well positioned to make a big profit.

Why is the population increasing? It's in large part due to the below factor: the excellent local job market.

Booming Job Market

Savannah has been described as an “economic star” because of its broad economic foundation. Defense and aerospace, tourism, healthcare and education, and the city’s deep-water seaport are just a few reasons why the job market in Savannah is staying strong and steady.

Even compared to nearby areas, Savannah is enjoying relatively low unemployment and rising weekly wages. For context, the unemployment rate throughout the US at the time of this writing is 4.4%. In Savannah, it's just 3.8%, and there has been a massive 4% decrease in savannahs unemployment rate over the last 12 months. Areas like manufacturing, trade, transportation, and utilities have seen huge upticks in employment rate, as have sectors like education, professional, and business services.

In addition, Savannah has been offering a relocation incentive to lure tech workers to the metropolitan area. The Savannah Economic Development Authority (SEDA) aims to lure out-of-state technology workers to the area to continue boosting the region’s technology industry. Combined with the above factors, it’s likely Savannah will continue to be an attractive place for high-skill workers for some time to come.

Altogether, these are fantastic signs for forward-thinking real estate investors. If you invest in an area that shows excellent signs of growth, you could use the chance now to purchase profitable properties for the future.

Finding a Partner for Georgia Real Estate Investing

Real estate investors may want to move fast once they find a good single-family home to buy.

When you find a great property to buy, you'll want to move quickly to purchase it before a competing investor. And if you want to move quickly, you need the right lender capable of financing rental property loans in Georgia. There are several options when it comes to private money lenders in Georgia, but at Lima One Capital, we have the best rental options for investors like you.

With an exceptional rental loan program, fix and flip loans, and even new construction loans, Lima One is here to help you get into the Savannah real estate market. We’re able to move quickly when you find the right opportunity thanks to our solid backing, market knowledge, and years of experience. Contact us today to discuss your next deal!    

Editor’s note: This blog has been updated as of December 2024 for comprehensiveness