JeffCroweCRE

Housing market/Georgia/ZIP 31406

ACS 2023 · FY2027 SAFMR

ZIP 31406 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
34,649
Households
14,163
Median HH income
$66,084
Renter share
41.6%
Median gross rent
$1,340
Vacancy
8.2%
Pop. change
-2.3%
2BR SAFMR
$1,650
SAFMR / rent
1.231×
2–49 unit stock
3,245
LIHTC proj / units
2 / 454
HUD assisted MF
4 / 125

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 31406 · GA — sent to you.

ZIP 31406 · GA

By checking this box you agree that you may be referred to another real estate broker or related service and acknowledge that CENTURY 21 The Avenues licensees and/or affiliates may be paid a valuable consideration for facilitating such referral.

ACS rent vs 2BR SAFMR

ZIP 31406 — Savannah, GA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,340
2BR SAFMR$1,650
90% floor$1,485
110% ceiling$1,815

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

Housing stock

ACS 2023 units-in-structure · ZCTA 31406

  • 1-unit detached10,49568.0%
  • 1-unit attached5943.9%
  • 2–4 units1,2117.9%
  • 5–49 units2,03413.2%
  • 50+ units7294.7%
  • Mobile3612.3%
TypeUnitsShare
1-unit detached10,49568.0%
1-unit attached5943.9%
2 units (duplex)2531.6%
3–4 units9586.2%
5–9 units1,1767.6%
10–19 units5343.5%
20–49 units3242.1%
50+ units7294.7%
Mobile3612.3%

2–4 unit share 7.9% · 5–49 unit share 13.2% · combined 2–49 21.0%.

Units by bedrooms

Studio
290
1BR
1,692
2BR
2,929
3BR
7,390
4BR
2,466
5+
657

Rent burden

Rent ≥30% of income49.5%
Rent ≥50% of income26.5%
  • ACS median gross rent $1,340 (all bedrooms, occupied rentals).
  • Median contract rent $1,108.
  • Renters paying ≥30% of income 49.5%; ≥50% 26.5%.
  • FY2027 2BR SAFMR $1,650 (1.231× ACS median gross rent).

Population

34,649 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: -2.3%.

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

Assisted inventory

  • LIHTC: 2 projects, 454 units.
  • HUD project-based assisted MF: 4 properties, 125 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 31406 41.6% of occupied households are renters; vacancy is 8.2%; ACS median gross rent is $1,340; population changed -2.3% between the 2018 and 2023 ACS vintages; the housing stock includes 1,211 units in 2–4-unit structures and 2,034 units in 5–49-unit structures; 2 LIHTC projects totaling 454 units; FY2027 2BR SAFMR is $1,650 versus ACS median gross rent of $1,340. 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 31406 — 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 31406?

ZIP 31406 (Savannah, GA MSA) has 34,649 residents, 14,163 households, a renter share of 41.6%, median household income of $66,084, and ACS 2023 median gross rent of $1,340. Vacancy is 8.2%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 31406?

ACS counts 253 units in 2-unit buildings, 958 in 3–4 unit buildings, 1,176 in 5–9, 534 in 10–19, and 324 in 20–49. Combined 2–49 unit stock is 3,245 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 31406?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,650. See the full schedule and 90–110% payment-standard band on the ZIP 31406 — Savannah, GA HUD Section 8 Payment Standards / SAFMR.