Affordable Living in Savannah: The Complete Guide
With its enchanting architecture, thriving arts scene, and charming parks, Savannah is a city that is on the come up, and it’s embracing a new generation of residents seeking quality of life without the crushing cost of ‘big city living.’ Savannah, often referred to as “The Hostess City of the South,” has emerged as a highly desirable destination for millennials and Gen-Zs looking to make a move.
In this article, we’ll delve into the cost of living in Savannah, compare it to other popular Georgia cities, and explore the factors that make this city a budget-friendly choice.
Cost of Living in Savannah: A Breakdown
When it comes to assessing the affordability of a city, it’s crucial to consider various factors such as housing, food, transportation, and utilities. Let’s take a closer look at each of these components:
Housing typically constitutes the most significant chunk of your expenses, and Savannah shines in this department. The average home value in Savannah hovers around $321,000 (Rocket Homes- Aug. 2023). The average rent for an apartment in Savannah is $1,62 according to Rent Cafe.
Savannah offers a diverse range of housing options, from affordable condos to historic mansions, ensuring that there’s a home for every budget and every family. Additionally, it’s worth noting that property values in Savannah are on the rise, making it a smart investment opportunity for the future.
How Savannah Compares to Other Cities: Savannah’s housing costs come in at a staggering 33% lower than the national average. Prospective homebuyers and first time buyers have a better chance of finding affordable housing here compared to areas with soaring real estate prices. For example, places like Atlanta and Charleston come in around 2-3x the average of national home values.
Food and Grocery:
Savannah boasts a rich culinary scene that might tempt you to dine out frequently. While restaurant prices vary, there are plenty of wallet-friendly options available. Check out our Play page for some great recommendations on dining.In terms of groceries, the average single adult in Savannah spends just under $3,300 annually, with a family of four averaging just over $9,400. One advantage of living in Savannah is its abundance of farmers markets and produce stands.
Try out Forsyth Farmers Market, Wilmington Island Farmers Market, Savannah State University Farmer’s Market, Davis Produce and Polks in Sandfly Famer’s Market. This means you can enjoy fresh, locally sourced items at very reasonable prices, making it easier to maintain a balanced budget while savoring delicious meals.
Savannah’s moderate winters bring lower energy costs, which translate into savings on utility bills compared to many other places in the United States. Residents can expect to pay an average of $123 per month for electricity, gas, and water. This information is based on the Savannah Government fees and estimates as well as Electricity Local.
How Savannah Compares: Savannah’s average monthly utility bill is 6% lower than the national average. While this might not sound like a significant difference, it adds up over time and provides welcome relief during the hot and humid summer months.
Ready to Move to Savannah?
The cost of living in Savannah is approximately 10% lower than the national average, making it an attractive option for millennials and Gen-Z’s seeking affordability without compromising on lifestyle. In addition to these financial perks, Savannah offers a plethora of activities, a rich historical heritage, and a welcoming atmosphere for people of all ages. The city’s population has been steadily growing, a testament to its enduring appeal.
If you’re ready to move to “The Hostess City of the South,” check out this article on career opportunities in the area.