CALCMONEY // HOME AFFORDABILITY // GA // SAVANNAH
How much house can you afford in Savannah? Based on local median home prices, current GA mortgage rates, and Savannah property tax data.
$320,000
$2,081/mo
$89,172/yr
$181,952
Monthly housing costs of $2,081 represent 43.0% of Savannah's median gross monthly income ($4,833/mo). At 43.0%, median-income buyers in Savannah are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $320,000 |
| Down Payment (20%) | $64,000 |
| Loan Amount | $256,000 |
| Monthly PI Payment | $1,686 |
| Monthly Property Tax | $261 |
| Monthly Insurance Est. | $133 |
| Total Monthly PITI | $2,081 |
| Housing Cost % of Income | 43.0% |
| Required Income (28% rule) | $89,172/yr |
| Max Affordable Home | $181,952 |
$11,200
$2,647/mo
Savannah Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $320,000 | Savannah city median |
| Down Payment (20%) | $64,000 | Conventional loan |
| Monthly PITI | $2,081 | 6.9% rate, 30yr fixed |
| Required Income (28% rule) | $89,172 | Annual gross |
| Max Affordable Home | $181,952 | Based on median income |
| FHA Down (3.5%) | $11,200 | Minimum FHA |
| Housing Cost % of Income | 43.0% | Median income: $58,000/yr |
| Property Tax Rate | 0.98% | $3,136/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Savannah is $320,000, with a local 30-year mortgage rate of 6.9%. A buyer putting 20% down carries a loan of $256,000, generating a monthly P&I payment of $1,686. Adding property taxes ($261/mo) and homeowners insurance ($133/mo) brings total monthly PITI to $2,081.
Savannah's property tax rate of 0.98% is near the national average, adding a standard increment to monthly housing costs. On the Savannah median home, that is $261/month, or $3,136 per year.
Georgia levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Savannah should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Savannah's median income of $58,000/year can afford up to $1,353/month in total housing costs. Based on Savannah's mortgage rate of 6.9% and property tax rate of 0.98%, that translates to a maximum affordable home price of approximately $181,952 with 20% down on a 30-year loan.
To afford the median Savannah home priced at $320,000, you need an annual gross income of approximately $89,172. Total monthly housing costs (principal and interest of $1,686, property taxes of $261, and insurance of $133) come to $2,081/month, which equals 28% of the required income.
At the median home price of $320,000 and median household income of $58,000, the total monthly housing cost of $2,081 represents 43.0% of gross monthly income. This is well above the standard 28% threshold, making Savannah a challenging market for buyers at median income.
A conventional 20% down payment on the median Savannah home of $320,000 is $64,000. An FHA loan requires just 3.5% down — $11,200 — but adds mortgage insurance of roughly $219/month, bringing total FHA payments to $2,647/month.