Location: Savannah, GA | Metro: Savannah, GA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,310 |
| 1 Bedroom | $1,380 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,020 |
| 4 Bedrooms | $2,300 |
| 5 Bedrooms | $2,668 |
| 6 Bedrooms | $2,988 |
| 7 Bedrooms | $3,227 |
| 8 Bedrooms | $3,388 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $106,982 | 1.42% | A |
| 3BR | $2,020 | $147,707 | 1.37% | A |
| 4BR | $2,300 | $192,375 | 1.2% | B |
U.S. Census Bureau data (2024)
37109 The median income in ZIP 31415, Savannah, GA, underscores the financial stability of the area's residents. 56.1 A significant portion of the population, 56.1%, are renters, indicating a robust demand for rental properties. 144029 With a median home value of $144,029, the housing market in Savannah reflects affordability for both homeowners and investors. 1140 The Fair Market Rent (FMR) for the area, set at $1140 for zip FY 2024, provides a benchmark for rental pricing that aligns with federal guidelines. 1676 However, the actual market rent, measured by ZORI, stands at $1,676, showcasing a premium over the FMR and suggesting potential for higher rental yields. 03 The low price-cut share of 0.3% implies that property values are relatively stable and that landlords can maintain competitive pricing without frequent adjustments.
In ZIP 31415, the discrepancy between the FMR and the market rent presents an opportunity for savvy landlords and small-portfolio investors. The higher market rent indicates that tenants willing to pay above the FMR exist, particularly those who might qualify for Section 8 subsidies. Given the 56.1% renter share, there is a substantial pool of potential tenants, many of whom could benefit from the government-backed assistance.
The combination of a stable median home value and a high median rent suggests that the Savannah market is favorable for rental investments. Landlords can expect to attract tenants who are financially capable of meeting the higher market rents, while also being eligible for Section 8 vouchers if needed.
A final consideration is the impact of the median income on tenant qualification. At $37,109, the median income supports the ability of residents to afford rent, especially when combined with potential Section 8 subsidies. This makes it likely that qualified tenants will be able to meet rental obligations even at the higher ZORI levels.
Based on these figures, the verdict for Section 8 participation in ZIP 31415 is positive. Investors can leverage the gap between FMR and market rent to secure reliable tenants while maintaining profitability.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.