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Housing market/Georgia/ZIP 31404

ACS 2023 · FY2027 SAFMR

ZIP 31404 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
30,749
Households
12,830
Median HH income
$49,805
Renter share
52.1%
Median gross rent
$1,199
Vacancy
11.1%
Pop. change
-6.5%
2BR SAFMR
$1,530
SAFMR / rent
1.276×
2–49 unit stock
3,767
LIHTC proj / units
17 / 1,666
HUD assisted MF
7 / 138

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 31404 · GA — sent to you.

ZIP 31404 · GA

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ACS rent vs 2BR SAFMR

ZIP 31404 — Savannah, GA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,199
2BR SAFMR$1,530
90% floor$1,377
110% ceiling$1,683

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

Housing stock

ACS 2023 units-in-structure · ZCTA 31404

  • 1-unit detached9,51566.0%
  • 1-unit attached3952.7%
  • 2–4 units2,13314.8%
  • 5–49 units1,63411.3%
  • 50+ units6304.4%
  • Mobile1200.8%
TypeUnitsShare
1-unit detached9,51566.0%
1-unit attached3952.7%
2 units (duplex)1,2258.5%
3–4 units9086.3%
5–9 units1,0117.0%
10–19 units3992.8%
20–49 units2241.6%
50+ units6304.4%
Mobile1200.8%

2–4 unit share 14.8% · 5–49 unit share 11.3% · combined 2–49 26.1%.

Units by bedrooms

Studio
138
1BR
1,516
2BR
5,266
3BR
6,343
4BR
938
5+
226

Rent burden

Rent ≥30% of income55.5%
Rent ≥50% of income28.2%
  • ACS median gross rent $1,199 (all bedrooms, occupied rentals).
  • Median contract rent $931.
  • Renters paying ≥30% of income 55.5%; ≥50% 28.2%.
  • FY2027 2BR SAFMR $1,530 (1.276× ACS median gross rent).

Population

30,749 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -6.5%.

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

Assisted inventory

  • LIHTC: 17 projects, 1,666 units.
  • HUD project-based assisted MF: 7 properties, 138 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 31404 52.1% of occupied households are renters; vacancy is 11.1%; ACS median gross rent is $1,199; population changed -6.5% between the 2018 and 2023 ACS vintages; the housing stock includes 2,133 units in 2–4-unit structures and 1,634 units in 5–49-unit structures; 17 LIHTC projects totaling 1,666 units; FY2027 2BR SAFMR is $1,530 versus ACS median gross rent of $1,199. 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 31404 — 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$1,52031401Savannah, GA MSA67.1%$1,428$2,01031402Savannah, 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 31404?

ZIP 31404 (Savannah, GA MSA) has 30,749 residents, 12,830 households, a renter share of 52.1%, median household income of $49,805, and ACS 2023 median gross rent of $1,199. Vacancy is 11.1%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 31404?

ACS counts 1,225 units in 2-unit buildings, 908 in 3–4 unit buildings, 1,011 in 5–9, 399 in 10–19, and 224 in 20–49. Combined 2–49 unit stock is 3,767 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 31404?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,530. See the full schedule and 90–110% payment-standard band on the ZIP 31404 — Savannah, GA HUD Section 8 Payment Standards / SAFMR.