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Housing market/Georgia/ZIP 31401

ACS 2023 · FY2027 SAFMR

ZIP 31401 Savannah, Georgia

Savannah, GA MSA · Georgia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
20,562
Households
8,784
Median HH income
$50,182
Renter share
67.1%
Median gross rent
$1,428
Vacancy
25.8%
Pop. change
+1.5%
2BR SAFMR
$2,010
SAFMR / rent
1.408×
2–49 unit stock
5,821
LIHTC proj / units
20 / 1,463
HUD assisted MF
10 / 863

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 31401 · GA — sent to you.

ZIP 31401 · GA

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ACS rent vs 2BR SAFMR

ZIP 31401 — Savannah, GA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,428
2BR SAFMR$2,010
90% floor$1,809
110% ceiling$2,211

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 31401

  • 1-unit detached3,37228.5%
  • 1-unit attached1,18410.0%
  • 2–4 units3,88732.9%
  • 5–49 units1,93416.3%
  • 50+ units1,35411.4%
  • Mobile1010.9%
TypeUnitsShare
1-unit detached3,37228.5%
1-unit attached1,18410.0%
2 units (duplex)2,12518.0%
3–4 units1,76214.9%
5–9 units1,0709.0%
10–19 units3963.3%
20–49 units4684.0%
50+ units1,35411.4%
Mobile1010.9%

2–4 unit share 32.9% · 5–49 unit share 16.3% · combined 2–49 49.2%.

Units by bedrooms

Studio
551
1BR
2,546
2BR
4,550
3BR
3,018
4BR
807
5+
360

Rent burden

Rent ≥30% of income54.7%
Rent ≥50% of income35.2%
  • ACS median gross rent $1,428 (all bedrooms, occupied rentals).
  • Median contract rent $1,233.
  • Renters paying ≥30% of income 54.7%; ≥50% 35.2%.
  • FY2027 2BR SAFMR $2,010 (1.408× ACS median gross rent).

Population

20,562 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +1.5%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 20 projects, 1,463 units.
  • HUD project-based assisted MF: 10 properties, 863 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 1,728 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 31401 67.1% of occupied households are renters; vacancy is 25.8%; ACS median gross rent is $1,428; population increased +1.5% between the 2018 and 2023 ACS vintages; the housing stock includes 3,887 units in 2–4-unit structures and 1,934 units in 5–49-unit structures; 20 LIHTC projects totaling 1,463 units; FY2027 2BR SAFMR is $2,010 versus ACS median gross rent of $1,428. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

ZIP 31401 — Savannah, GA HUD Section 8 Payment Standards / SAFMR·Georgia ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
31302Savannah, GA MSA30.1%$1,072$1,52031303Savannah, GA MSA18.2%$697$1,52031307Savannah, GA MSA16.7%—$1,53031312Savannah, GA MSA12.8%$1,394$1,77031318Savannah, GA MSA25.0%—$1,52031322Savannah, GA MSA39.1%$1,629$1,97031324Savannah, GA MSA23.9%$1,764$2,10031326Savannah, GA MSA26.4%$1,141$1,52031328Savannah, GA MSA10.4%$1,205$1,66031329Savannah, GA MSA26.6%$1,141$1,52031402Savannah, GA MSA——$1,70031403Savannah, GA MSA——$1,700

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Georgia research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 31401?

ZIP 31401 (Savannah, GA MSA) has 20,562 residents, 8,784 households, a renter share of 67.1%, median household income of $50,182, and ACS 2023 median gross rent of $1,428. Vacancy is 25.8%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 31401?

ACS counts 2,125 units in 2-unit buildings, 1,762 in 3–4 unit buildings, 1,070 in 5–9, 396 in 10–19, and 468 in 20–49. Combined 2–49 unit stock is 5,821 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 31401?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,010. See the full schedule and 90–110% payment-standard band on the ZIP 31401 — Savannah, GA HUD Section 8 Payment Standards / SAFMR.