Rent vs buy in Savannah, GA

In Savannah, Georgia, the typical rent is $1,712 /mo and a typical home is $318,893.

Toss-up

It's a close call: the difference is $1,498 over 7 years

Today's mortgage rate and 20% down, applied to Savannah's typical figures for rent and home value. Break-even point: year 8.

The opinion is clearly labelled and the math is shown. Estimates, not quotes. If you change a number, the stamp changes.

Gap: $1k
When it breaks even: year 8
What owning really costs: $2,783 /mo

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The stamp relies on typical rent and home value figures from Savannah's market. Changing your rent, price or years can reverse the result.

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Is it cheaper to rent or buy in Savannah?

Over 7 years the two paths sit within $1,498 of one another, so small changes decide the result. For the first 7 years, renting costs less. By year 8, owning has caught up.

Renting. Owning. Net cost by year so far.

Savannah: average rent against the mortgage payment

Rent and mortgage payments don't tell the whole story. At Savannah's typical price, these are all monthly costs during year 1.

Each month, year 1	Amount	What it is
Rent	$1,712	All of it, every month
Mortgage payment	$1,739	$1,532 of it is interest in year 1
Property tax	$218	0.82% of the value a year
Insurance	$116	Census median for the city
Upkeep	$266	1% of the value a year
Owning, cash out	$2,338	$206 of it builds equity
Lost return on the down payment	$518	What that cash would earn yearly at 8.3%
Buying costs, spread out	$133	3.5% of the price over 7 years
True cost of owning	$2,783	Cash out, minus the equity portion, plus the two lines above

The figures behind Savannah's verdict

Typical home valueZillow ZHVI, September 2026: $318,893
Typical rentZillow ZORI, September 2026: $1,712 /mo
Down payment20% avoids private mortgage insurance, which the engine does not model: 20%
Mortgage rateFreddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US): 7.24%
Home price growthFHFA house price index, Georgia, 1995 to 2025: 4.4% a year
Rent growthCPI rent of primary residence, yearly growth 2006 to 2026: 3.5% a year
Return on savings60% S&P 500 with dividends and 40% 10-year Treasuries, rebalanced yearly, 1928 to 2025: 8.3% a year
Property taxCensus ACS 2020-2024, Savannah: 0.82% of value
Home insuranceCensus ACS 2020-2024, Savannah: $116 /mo
MaintenanceFannie Mae, low end of 1% to 4%: 1% of value a year
Buying costsFreddie Mac, middle of 2% to 5%: 3.5% of price
Selling costsAgent commission plus closing costs: 6% of price

What would change the result in Savannah?

Each line shows where the 7-year verdict in Savannah flips, with everything else held as it is.

Renting comes out ahead when

Home prices increase by less than 4.5% each year (we use Georgia's long-run rate of 4.4%).
The mortgage rate remains above 7.16%.
Rent on a home like this comes to under $1,730 a month (the typical figure here is $1,712).
You move ahead of year 8.

When buying wins

Home prices rise by more than 4.5% a year.
You secure a mortgage rate under 7.16% (today's is 7.24%).
If you rented that same home, you'd pay more than $1,730 each month.
Your stay lasts 8 years or more.

Savannah compared with 812 other cities

Measure	Savannah	Median city
Typical home value	$318,893	$422,451
Typical rent	$1,712 /mo	$1,837 /mo
Price-to-rent ratio	15.5 (#594 of 813)	18.5
Home prices, last 10 years	6.9% a year	6.2% a year
Rents, last 5 years	3.9% a year	4% a year
Property tax	0.82%	0.87%
Households that rent	55%	42%

Sources: Zillow ZHVI and ZORI, Census ACS 2020-2024.

More cities in Georgia

Buy. Augusta, GA. Buying is ahead by $27k.
Rent. Roswell, GA. Renting is ahead by $159k.

Georgia rent vs buy numbers