Georgia · 127th largest metro area

Buying a home in Savannah, Georgia

In Savannah, the median value of owner-occupied homes is $248,900, Chatham County's effective property tax rate is 0.84%, a purchase mortgage carried a median $7,756 in total loan costs in 2025, and median gross rent is $1,382 a month.

Data as of : Census ACS 2020-2024, Census Vintage 2024, HMDA 2025, HUD FY 2027. Sources

Savannah home costs, fact by fact

About Savannah

Median gross rent is $1,382 a month, and 45.4% of homes are owner-occupied. The city had 148,808 residents in the latest estimate. The place lies in the Savannah, GA metro area.

Reading the Savannah figures

Savannah lands in the middle of the Georgia pack. Its owners value the typical home at $248,900, under the statewide $346,500 and under the $299,200 of Athens, yet above Columbus and Augusta, which report $193,900 and $178,400. Atlanta, with $439,600, is clearly higher.

The county tells a different story from the city. Chatham County's estimate is $302,700, more than the city's, and a 0.84% effective rate gives a typical property tax of $2,541 a year. A buyer in the city may see a smaller bill than that figure if the home is worth less than the county norm.

Rent is $1,382 a month, which exceeds the $1,219 of Athens and the $1,106 of Columbus but falls short of the $1,711 of Atlanta. HUD rates the Savannah region $1,679 on the smaller side and $2,185 on the bigger side. Because the lower figure sits so far above the city's median rent, renters should not read it as a typical asking rent, and anyone comparing a lease with a mortgage should rely on the median instead.

Only 45.4% of households own, a share under the 50.8% of Augusta and Columbus and a shade under the 46.4% of Atlanta. Loan costs were recorded on 3,262 loans in 2025, where the typical charge was $7,756 and the central range ran from $5,029 to $10,985.

Calculate for Georgia

If you buy

Georgia state transfer tax

Real estate transfer tax (O.C.G.A. 48-6-1 to 48-6-10): $1 for the first $1,000 plus $0.10 for each additional $100 (about $1 per $1,000).

Price$346,500
State transfer taxnot computed
Who paysThe seller

Default price: the Georgia median value of owner-occupied homes, $346,500 (Census ACS 2025). Not computed: Tax = $1 for the first $1,000 (or fraction) + $0.10 for each additional $100 or fraction of $100. Example: $400,000 gives $1 + $0.10 x 3,990 = $400. Who pays: The seller is liable by law, though frequently the sales contract has the buyer pay (Georgia Department of Revenue). Not included: county and city transfer taxes, the tax on the mortgage, recording fees, title insurance and lender charges. Georgia transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: Georgia state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

Questions about buying a home in Savannah

How much is property tax in Savannah?

Homeowners in Chatham County pay a median $2,541 a year in property tax, 0.84% of the county median home value of $302,700 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Savannah?

Home-purchase mortgages in Chatham County carried median total loan costs of $7,756 in 2025; half of the 3,262 loans fell between $5,029 and $10,985 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Savannah?

Georgia charges a real estate transfer tax of $1 for the first $1,000 of the sale price plus 10 cents for each additional $100, which is $400 on a $400,000 home. The seller is liable by law, though contracts often shift it to the buyer.

Is it cheaper to rent or buy in Savannah?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Savannah ($248,900) equals 15 years of the median gross rent ($1,382 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

Georgia rules that apply in Savannah

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Sources

Georgia · All states · Federal guides