ZIP Code · GA

ZIP 31406

Part of Savannah, GA

Pop. 34,904·Chatham County·173rd most expensive ZIP in Georgia

Median rent (all units)

$1,553/mo

Year-over-Year

-2.3%

Month-over-Month

Stable

vs US Median

-$379

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 31406 · $1,553

More affordable than 69% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,450

1 BR

$1,520

2 BR

$1,670

3 BR

$2,220

4 BR+

$2,530

Research median

$1,670/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

December. Asking rents in ZIP 31406 usually run 0.9% below trend in December and 1.3% above it in August, about $34 a month apart at today's median. Based on 8 years of data.

Compared with the peak

Rent in ZIP 31406 is 2.8% below its high of $1,597 in December 2024, at $1,553 as of September 2026.

Past year vs. the rest of Georgia

Rent in ZIP 31406 changed -2.3% over the year to September 2026. Across the 216 Georgia ZIP codes Zillow tracks, the typical change was +2.4%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 31406 rose 67% while median household income rose 24.6% ($53,848 to $67,120). Rent outpaced income.

Since before the pandemic

Rent in ZIP 31406 is 62.6% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 4 of the last 12 months.

What a typical income covers

30% of the median household income ($67,120) is $1,678 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,670); a 3-bedroom is $2,220.

Rank in Savannah

2nd cheapest of 8 ZIP codes in Savannah.

From Zillow's monthly rent index (ZORI) for ZIP 31406. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,636/yr

At $1,553/mo median

Location

CitySavannah

StateGA

CountyChatham County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 2.3% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-2.3% YoY, +0.1% MoM), not inventory.

Demographics

Who lives here

ZIP 31406 (Savannah, GA) is majority owner-occupied, 36.9% of residents hold a bachelor's degree or higher.

Population

34,904

Median income

$67,120

Median age

37.3

Renters

40.3%

Age distribution

20.7%

25.1%

25%

17.7%

Under 1820.7%

18–3425.1%

35–5425%

55–6411.5%

65+17.7%

Gender

45.6%

54.4%

Male45.6%

Female54.4%

Race & ethnicity

50.1%

36.6%

White50.1%

Black36.6%

Hispanic7.1%

Asian4.4%

Other1.9%

Education (25+)

23.6%

30.9%

36.9%

No HS diploma8.5%

HS diploma23.6%

Some college30.9%

Bachelor's+36.9%

Housing tenure

59.7%

40.3%

Owner59.7%

Renter40.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 31406 in Savannah, GA has changed in 5 years

Rent

$1,026 → $1,553

up 51.4%

Income

$57,464 → $67,120

up 16.8%

Population

34,676 → 34,904

up 0.7%

Renter share

38.8% → 40.3%

+1.5 pts

Bachelor's+

34.9% → 36.9%

+2.0 pts

Since 2021, the typical rent in ZIP 31406 in Savannah, GA has increased from $1,026 to $1,553, a 51.4% change over five years. On the earnings side, the typical household in ZIP 31406 in Savannah, GA now reports about $67,120, up from $57,464 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 40.3% of households, compared with 38.8% five years ago. College-educated residents now make up 36.9% of adults here, versus 34.9% in 2021. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 31406 in Savannah, GA reflects that arc in its own way.

Community

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Local insights

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About renting in ZIP 31406

Last updated: October 17, 2026

ZIP code 31406 covers Savannah, GA. The median rent here is $1,553/mo as of October 2026. A 1-bedroom rents for a median of $1,520/mo. A 2-bedroom rents for a median of $1,670/mo.

At 28% of local median household income ($67,120/yr), ZIP 31406 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 2.3% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 31406?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (about $30/hour full-time) to afford the median rent of $1,553/mo in ZIP 31406. The local median household income is $67,120/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 31406?

Rent in ZIP 31406 has fallen 2.3% over the past year as of September 2026. It sits 2.8% below its high of $1,597 in December 2024.

When is the cheapest time to rent in ZIP 31406?

Asking rents in ZIP 31406 are usually lowest in December, about 0.9% below their yearly trend, and highest in August, about 1.3% above it. At today's median that is a gap of roughly $34 a month. This pattern comes from 8 years of Zillow rent data.

Has rent outpaced income in ZIP 31406?

Yes. From 2019 to 2024, rent in ZIP 31406 rose 67% while median household income rose 24.6%, from $53,848 to $67,120. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 31406 compare to other ZIPs in Georgia?

ZIP 31406 is one of the more affordable among Georgia ZIP codes for rent, ranking #173 of 234 at $1,553/mo. Over the year to September 2026, rent in ZIP 31406 changed -2.3%, against a typical +2.4% across the 216 Georgia ZIP codes Zillow tracks.