Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 5,036, 2,195 total housing units (homes and apartments), and a median house value of $219,362, house prices in Savannah are solidly below the national average.
Single-family detached homes are the single most common housing type in Savannah, accounting for 70.03% of the city's housing units. Other types of housing that are prevalent in Savannah include large apartment complexes or high rise apartments ( 14.64%), duplexes, homes converted to apartments or other small apartment buildings ( 9.69%), and a few row houses and other attached homes ( 3.39%).
People in Savannah primarily live in small (one, two or no bedroom) single-family detached homes. Savannah has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Savannah built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Savannah built between 1940-1969 ( 30.46%). A lesser amount of the housing stock also hails from before 1939 ( 13.70%). There's also some housing in Savannah built between 2000 and later ( 13.04%).
Vacant housing appears to be an issue in Savannah. Fully 10.26% of the housing stock is classified as vacant. Left unchecked, vacant Savannah homes and apartments can be a drag on the real estate market, holding Savannah real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Real estate appreciation rates in Savannah's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.28% during the period.
Appreciation rates are so strong in Savannah that despite a nationwide downturn in the housing market, Savannah real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Savannah appreciation rates continue to be some of the highest in America, at 9.97%, which is higher than appreciation rates in 87.14% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Savannah. Savannah appreciation rates in the latest quarter were at 4.49%, which equates to an annual appreciation rate of 19.21%.
Importantly, this makes Savannah one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Missouri, our data show that Savannah's latest annual appreciation rate is higher than 90% of the other cities and towns in Missouri.
$219,362
for Missouri
for nation
2,195
$1,097 / per month