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Housing market/Georgia/ZIP 31408

ACS 2023 · FY2027 SAFMR

ZIP 31408 Savannah, Georgia

Savannah, GA MSA · Georgia. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
11,791
Households
4,100
Median HH income
$40,109
Renter share
58.5%
Median gross rent
$1,080
Vacancy
9.5%
Pop. change
+12.1%
2BR SAFMR
$1,520
SAFMR / rent
1.407×
2–49 unit stock
1,488
LIHTC proj / units
—
HUD assisted MF
1 / 94

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 31408 · GA — sent to you.

ZIP 31408 · GA

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ACS rent vs 2BR SAFMR

ZIP 31408 — Savannah, GA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,080
2BR SAFMR$1,520
90% floor$1,368
110% ceiling$1,672

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 31408

  • 1-unit detached2,23649.4%
  • 1-unit attached912.0%
  • 2–4 units92820.5%
  • 5–49 units56012.4%
  • 50+ units300.7%
  • Mobile68415.1%
TypeUnitsShare
1-unit detached2,23649.4%
1-unit attached912.0%
2 units (duplex)2265.0%
3–4 units70215.5%
5–9 units4369.6%
10–19 units1242.7%
20–49 units00.0%
50+ units300.7%
Mobile68415.1%

2–4 unit share 20.5% · 5–49 unit share 12.4% · combined 2–49 32.9%.

Units by bedrooms

Studio
24
1BR
497
2BR
1,516
3BR
2,006
4BR
439
5+
47

Rent burden

Rent ≥30% of income42.8%
Rent ≥50% of income10.7%
  • ACS median gross rent $1,080 (all bedrooms, occupied rentals).
  • Median contract rent $887.
  • Renters paying ≥30% of income 42.8%; ≥50% 10.7%.
  • FY2027 2BR SAFMR $1,520 (1.407× ACS median gross rent).

Population

11,791 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +12.1%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: not published for this ZIP.
  • HUD project-based assisted MF: 1 properties, 94 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 1,728 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 31408 58.5% of occupied households are renters; vacancy is 9.5%; ACS median gross rent is $1,080; population increased +12.1% between the 2018 and 2023 ACS vintages; the housing stock includes 928 units in 2–4-unit structures and 560 units in 5–49-unit structures; FY2027 2BR SAFMR is $1,520 versus ACS median gross rent of $1,080. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

ZIP 31408 — Savannah, GA HUD Section 8 Payment Standards / SAFMR·Georgia ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
31302Savannah, GA MSA30.1%$1,072$1,52031303Savannah, GA MSA18.2%$697$1,52031307Savannah, GA MSA16.7%—$1,53031312Savannah, GA MSA12.8%$1,394$1,77031318Savannah, GA MSA25.0%—$1,52031322Savannah, GA MSA39.1%$1,629$1,97031324Savannah, GA MSA23.9%$1,764$2,10031326Savannah, GA MSA26.4%$1,141$1,52031328Savannah, GA MSA10.4%$1,205$1,66031329Savannah, GA MSA26.6%$1,141$1,52031401Savannah, GA MSA67.1%$1,428$2,01031402Savannah, GA MSA——$1,700

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Georgia research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 31408?

ZIP 31408 (Savannah, GA MSA) has 11,791 residents, 4,100 households, a renter share of 58.5%, median household income of $40,109, and ACS 2023 median gross rent of $1,080. Vacancy is 9.5%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 31408?

ACS counts 226 units in 2-unit buildings, 702 in 3–4 unit buildings, 436 in 5–9, 124 in 10–19, and 0 in 20–49. Combined 2–49 unit stock is 1,488 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 31408?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,520. See the full schedule and 90–110% payment-standard band on the ZIP 31408 — Savannah, GA HUD Section 8 Payment Standards / SAFMR.