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.
2 Dec 2021
Multifamily Market Report | Savannah, GA
Category: Apartments, Multifamily
Tags: Apartments, Multifamily, Savannah
Recent Articles
Recent Media & Thought Leadership
4/25/2024
Things to Consider If Your Hotel PIP Is Coming Due
Navigating Hotel PIPs For hotel owners, embracing a property improvement...
4/25/2024
Medical Office Market Report | Houston, TX
Houston Medical Office Market Report Market Overview Houston’s status as...
4/25/2024
Q1 Retail Market Report | Houston, TX
Houston Retail Market Report Macroeconomics: Federal Funds Rate The Fed...
4/25/2024
The Texas Property Tax Dilemma
The Texas Property Tax Dilemma | What NNN Owners Need...
4/25/2024
Self-Storage Market Report | Phoenix, AZ
Phoenix Self-Storage Market Report As the capital of Arizona and...
4/19/2024
Multifamily Market Report | Bowling Green, KY
Bowling Green, KY Multifamily Market Report Market Overview Bowling Green’s...
4/18/2024
Q1 Multifamily Market Report | Tri-Cities, CA
Glendale, CA Multifamily Submarket Report Submarket Overview Glendale, CA, is...
4/18/2024
Q1 Multifamily Market Report | Los Angeles, California
Q1 Los Angeles Multifamily Market Report Market Overview Los Angeles...
4/18/2024
Q1 Retail Market Report | Atlanta, GA
Q1 Atlanta Retail Market Report Market Overview Currently, there is...