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Category: Apartments, Multifamily Tags: Apartments, Multifamily, Savannah

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Savannah has attractive multifamily tributes, including tight vacancies, impressive rent growth, and an active investor pool. The Port of Savannah has largely driven job growth in the metro as it is one of the largest ports in the country and consistently ranks as the fastest-growing port in the nation in terms of throughput. Additionally, the market holds the Savannah College of Art & Design, another driver for multifamily demand. The school’s enrollment has grown beyond 15 percent since 2010, and the spillover demand is expected to help occupancy in existing properties, particularly those near the campus. Developers have concentrated efforts on workforce housing to accommodate blue-collar workers, and with job expansions in the near future, demand should remain. Fundamentals are expected to continue to improve with a muted construction pipeline. Assets are sold at a discounted rate compared to nearby Atlanta, luring investors to the area.

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