Anyone worried about rising sea levels in Savannah Georgia?

Question

Hi all!

I am thinking of investing in Savannah, Georgia as I believe there is upside in the medium term with how the local economy is growing and how the rent:price ratio is down here.

However, I am a little worried about the long term resilience of property prices and appreciation given its low elevation and susceptibility to flooding and rising sea levels. Do I think I can buy some units and get them rented? Yes. Do I think I could do this for the next 5-10 years? Yes. But do I think that appreciation in this local market is resiliant enough to handle rising sea levels and the potential for more frequent hurricanes over the next 10-15 years? I am not so sure. This is what my worry is.

I know other coastal cities like Miami and other parts of Florida are in a similar situation, but I am curious how others investors think about their markets which at low elevation and close to the ocean/flood plains.

Thanks!

Russell Brazil · Answer

Im more concerned about Manhattan

Chris Seveney · Answer

@John D.

I don’t buy in flood plains wherever property is.

I am not a big believer in the sea levels rising significantly though and will buy in desirable areas. That’s just my 2 cents

Account Closed · Answer

We're hoping the sea rises enough to give us water front homes in Scottsdale.National Geographic states: "Seas are predicted to rise a foot by 2050"Wow! A whole foot, if eveything goes wrong.

I'll take my chances ;-)

Matt Merriott · Answer

Not going to get political here but I will make note several high ranking current and previous politicians own beachfront property.

If the deal is good go for it. As mentioned above avoid the flood plains.

Allyson Dohan · Answer

@John D. Look to areas near Bull St, one of the highest points in the historic district. I wouldn't invest in the Thunderbolt area or Tybee Island, as it is more susceptible to flooding after a storm (same with certain areas of downtown, like River St). If there's sudden dumping of rain, you're going to get flash flooding anywhere, though, not just in Savannah. I lived there for several years and funny story (because she's ok), my friend got caught in a flash flood while driving and was floating down Drayton St!

As for hurricanes, Savannah sits in one of the safer areas along the coast. If you look at the map of the east coast, you'll see that Florida and parts of NC jut out more than Savannah. Hurricanes tend to hit those areas more and then get pushed back to sea or move up the northern seaboard. It's extremely rare (although it can happen) that a hurricane can directly hit Savannah. Although, the rain from the outer edges of a hurricane can still dump a lot of water.

Make sure where ever you invest, to double-check that flood insurance isn't mandatory for that property. And if it is, then you should have your answer :)

That all being said, I am also looking at Savannah for investment properties. It's a lovely town and like you said, its economy is growing. Would love to connect if you'd like to network and swap research!

Chris Davidson · Answer

Is AZ beach front property the ultra long game now?!?!

I can't get caught up in the hype it drains to much energy, but can make for entertaining bar chats.

John D. · Answer

Thanks @Bruce Woodruff and @Chris Davidson. Good points! The tricky part about this region is that a lot of the city is pretty close to the sea level, but there are definitely areas that a little higher and are unaffected by storm surges. I agree that the loss of a major port city will result in lots being done by local and state government to protect the area, so that is something that gives me reassurance about this region in general.

Chris Davidson · Answer

@John D. I would not be worried about a major port city especially if you aren't in a flood area. If you are on a small island or in the middle of nowhere GA or SC might be of more concern. The economic impact to losing a major city to rising sea levels would be higher than you losing a house. And you would probably have plenty of possibilities for MTR for workers coming to do the impossible.

That's my 2cents. If things change over a hold period just adapt.

Allyson Dohan · Answer

@Bill Brandt

It's a street right next to the river so when they named it in 1700 it probably was a no-brainer. But yes, when it floods most of that street becomes the river!

Joshua Austin · Answer

As stated above, Savannah's historic district is the highest part of the city. The barrier islands are definitely more susceptible to flooding in the event of a hurricane. I tend to invest on the west side of I95 in the Savannah suburbs. Properties are typically 15-25 minutes from downtown. Schools are much better. Floodzones are rare and we tend to not have any issues pertaining to this topic. Cities like Pooler, Bloomingdale, Rincon, Port Wentworth, Guyton, Springfield are some of my favorites.

Anyone worried about rising sea levels in Savannah Georgia?

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