MARKET SNAPSHOT

Savannah q3 2025

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AVERAGE RENT

$1,650 Q3 2025

OCCUPANCY RATE

90.8% Q3 2025

NET ABSORPTION

1,254 YTD Q3 2025

ANNUAL RENT CHANGE

-1.7% Q3 2025

ANNUAL OCCUPANCY CHANGE

-160 BPS Q3 2025

UNIT COMPLETIONS

2,447 YTD Q3 2025

KEY TAKEAWAYS

Savannah defied national trends in Q3 2025, with rental absorption accelerating to 600 units and annual demand reaching 1,650 units—well above the long-term average—highlighting the metro’s resilient renter demand amid broader supply headwinds.

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Despite moderating in Q3, construction activity remained elevated, with roughly 900 units completed and a 12-month total exceeding 3,100 units—nearly double the pace of absorption, reinforcing ongoing supply-demand imbalance.

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Near-term fundamentals are likely to stay soft as new projects lease up, but Savannah’s strong job and population growth—driven by port expansion and industrial investment—positions the market for renewed balance and recovery over the medium term.

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MARKET OUTLOOK

Savannah’s multifamily market remains in a period of supply-driven imbalance, as the volume of new deliveries continues to outpace absorption, placing sustained pressure on rents and occupancy...

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