Vacation Rental Market Analysis: Savannah, GA

The Evolve Team
The Evolve Team
August 3, 2023

Cobblestone streets, pastel-colored buildings, and enchanting city parks draped in Spanish moss make Savannah a picturesque destination for travelers. Deemed ‘The Hostess of the South,’ the area prides itself on its world-class hospitality, including a rich art scene, tasty cuisine and, of course, a thriving tourism industry.

Plus, with around 14 million people visiting this Southern hotspot each year, it’s no surprise the city was recently voted one of The World’s Greatest Places. And it’s what can make Savannah an ideal market for a vacation rental investment.  

To help you get a better idea of the income opportunity that comes with a Savannah real estate investment, we created a free, downloadable vacation rental market analysis. Inside you’ll find: 

  • Rental income potential by property size
  • Average occupancy by property size
  • Average daily rate by property size
  • Average days booked in advance
  • Average length of stay
  • Vacation rental inventory by property size
  • Occupancy rate by month

The findings in this analysis are based on Evolve’s Savannah market averages in the last year and provide a general baseline for performance potential. They’re designed to help inform smart decisions when shopping for an investment property in Savannah.

Download Our Complete Savannah Vacation Rental Investment Analysis

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Why Savannah Is a Great Place to Own Vacation Rental Property

The wide range of attractions the area offers — like The Olde Pink House, the American Prohibition Museum, and Savannah’s College of Art and Design — attracts visitors of all demographics and interests. Plus, it’s not far from outdoor attractions like Skidaway Island State Park and Tybee Island (along with historic sites like Old Fort Jackson). That makes it super easy for guests to plan a well-rounded vacation for the whole family. 

Occupancy in Savannah typically surges in spring and summer when guests come to enjoy average temperatures in the 80s. That tapers off a bit in the fall as the weather cools, and come winter, owners tend to see the slowest vacation rental occupancy of the year.

Buying a Savannah investment property can also be more cost effective than in other Southern coastal cities (think Charleston or Hilton Head), as median home value currently hovers just over $315,000.

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How Much Money Can You Earn with a Savannah Vacation Rental?

With guest demand thriving, these are the various factors to keep in mind when considering a Savannah real estate investment.

Property Size

Family reunions and large group celebrations are popular in Savannah, which may be why five-bedroom homes hold the top spot for annual revenue. But if a large property isn’t your ideal investment, our real estate experts say one- or two-bedroom homes can be promising investments. In fact, our data shows one-bedroom properties pull in the most nights booked per year, with two-bedroom homes coming in at a close second.

Plus, smaller properties currently make up the majority of Savannah real estate inventory. This wide range of property sizes offers potential buyers flexibility when making purchasing decisions. So it’s best to work with a vacation rental real estate professional to help you find the perfect investment property.

Want to work with Evolve’s real estate professionals — or purchase an already-vetted property for sale? Fill out this form to get started today.

Property Location

Since it’s a historic city, many travelers prefer to explore by foot. So, look for a Savannah investment property that’s either in the downtown Historic District or close enough to walk to it. More specifically, our experts recommend looking for homes close to prominent sights like City Market and Forsyth Park.

Another popular area to visit is River Street, a neighborhood lining the Savannah River that’s both close to downtown and has beautiful waterfront views. If you can nab an investment property in this part of town, that can help set you up for booking success.

Property Amenities

A common theme among our top-performing Savannah investment properties are at-home comforts and modern amenities. Due to the often-warm, humid climate, guests appreciate amenities like central air conditioning and in-unit laundry. Similarly, tech amenities like high-speed internet and Smart TVs give travelers easy indoor entertainment and the ability to work remotely.

A successful Savannah real estate investment often has popular searched-for amenities, too. That includes updated outdoor spaces — many of our top performers in the area offer a deck, patio, or balcony with comfortable seating, so guests can unwind after a full day of sightseeing.

Of course, it’s also important to extend a touch of Southern hospitality in Savannah. So provide a helpful welcome book, consider thoughtful “it’s vacation time!” gifts, and offer kid-friendly amenities for a stress-free trip that can get you five-star reviews.

Download Our Full Savannah, GA Vacation Rental Market Analysis

From the charming historic downtown to the striking coastline, Savannah can be a prime place for potential buyers seeking a vacation rental investment. Whether you’re eager to buy your first vacation rental or are curious to turn an existing home into a profitable form of passive income, download our free Savannah Vacation Rental Market Analysis today. 

It’s packed with useful insights, like:

  • Average daily rate by property size 
  • Expected seasonality in vacation rental demand
  • Average length of stay in high and low seasons
  • Inventory breakdown based on property size 

Evaluating your investment opportunities should feel as breezy as an afternoon stroll along Savannah’s Waterfront. Use our report to help guide lucrative decisions on your journey to vacation rental success.

Get Your Vacation Rental Market Analysis

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