Rental market in Savannah, GA

[Vlad S.]

Hi there,

I'm looking for some feedback on the rental market in Savannah, GA. I'm interested to find out whether there's much demand, and if so, what areas and property types are in bigger demand? According to rentometer, 1 br rents for about $900 and 2 br for about $1100, is that about accurate? A quick search on Zillow shows that these numbers are a bit conservative, but I don't entirely trust the listings on Zillow.

From the employment perspective, looks like the port employs a bunch of people, and so does the Army airfield, which would both provide stability, and some demand for rental housing. Additionally, there looks to be a number of post secondary institutions, which would indicate demand from the student body.

I'm wondering if anyone has any experience with this rental market and can provide some comments, or just some general feedback on the above.

Thank you,

Vlad

[Rashad Luckett]

@Eric Backer is spot on with his analysis of the downtown area. I have rentals mostly on the east side and south side (close to GSU-Armstrong campus) of the city. Portions of the east side are going through revitalization efforts and those are the areas I am in. If you are not careful, there are still some areas that suffer from a lot of crime on that side of town. However, things are changing fast. I grew up in a rough area on the east side and it is barely recognizable to me now in a good way. 

I am consistently renting 3BR for $1075-$1150 and 2BR for $950+. My typical all in for my properties ranges from 65k-95k after purchase+reno. That is my current comfort level for price range. You will not likely be able to do that in the downtown area though. :)

I would add that we also have two large hospitals (I work for one of them) that are major employers and the overall employment picture here is pretty good in my opinion.