MARKET SNAPSHOT

Savannah q1 2025

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AVERAGE RENT

$1,724 Q1 2025

OCCUPANCY RATE

91.9% Q1 2025

QUARTERLY NET ABSORPTION

420 Q1 2025

ANNUAL RENT CHANGE

1.9% Q1 2025

ANNUAL OCCUPANCY CHANGE

-180 BPS Q1 2025

QUARTERLY COMPLETIONS

162 Q1 2025

KEY TAKEAWAYS
Net absorption reached 420 units in Q1 2025—40% above Savannah’s 10-year quarterly average—and exceeded new deliveries for the first time since 2023, signaling strong renter demand amid a cooling construction pipeline.
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The average occupancy rate of 91.9% remains slightly below the 10-year average of 93.3%, but signs of stabilization suggest that the impact of earlier oversupply is beginning to ease.
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Following a decline in late 2024, annual rent growth returned to positive territory at 0.4% in Q1 2025, indicating early signs of a pricing recovery as supply-demand dynamics gradually rebalance.
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Featured Georgia Research Reports:

David-Huey

David Huey

Senior Director

david.huey@mmgrea.com

Trey Butler

Trey Butler

Associate

trey.butler@mmgrea.com

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