Last updated on June 21st, 2023
best places to airbnb in georgia
Key Takeaways
- Savannah’s economy, thriving job market, and reasonable cost of living allowed many Airbnb hosts & investors to generate a good rental income.
- Find out the top reasons why investing in rental properties in Savannah, Georgia, can turn into a financially rewarding experience to investors.
- We feature the most profitable neighborhoods and nearby cities in Savannah, along with their Airbnb data and best property types.
Introduction
The sophisticated city of Savannah is located along the Atlantic Ocean in southeastern Georgia. The city is widely known as the industrial center and is also an important Atlantic seaport.
Savannah is a popular city thanks to its fascinating history, eclectic architecture, natural wonders and modern boutiques & galleries. The city offers an enjoyable atmosphere with great food, a splendid art scene, and music. This leads to plenty of unique experiences and makes anyone fall in love with the destination.
Are you interested in Airbnb hosting in Savannah? Then go ahead and learn more about it with our podcast, Into The Airbnb, where we featured a host in this city!
In this article, we reveal the best places to invest in Airbnb in Savannah, Georgia, and some of the top reasons why investments in this city are a profitable option. Eager to learn more? Then continue reading.
Why should you consider investing in real estate in Savannah, Georgia?
Investing in short-term rentals in Savannah or nearby cities in Georgia is an excellent way of achieving financial freedom since it offers a variety of opportunities to real estate investors.
Savannah is indisputably a beautiful city that has a lot to offer, but what kind of advantages does this city offer to real estate investors? Check out some of the top reasons why you should consider investing in Savannah’s real estate market:
Affordable living cost
Savannah’s economy and job market are steadily growing, thus, more people are interested to relocate in this charming city. For that reason, there’s also a strong demand in the rental market.
The median housing price is currently $325K with a 1-year value change of 8.7% as confirmed by Realtor. When it comes to living expenses, Savannah is 7% cheaper than other cities in the US.
According to Norada Real Estate, Savannah has a high occupancy rate and moderately low vacancy rates. Thanks to this, rental properties in the city are in high demand.
Thriving economy & job market
The people in Savannah enjoy a strong and diversified economy. Some of the key industries that greatly contribute to the city’s economic situation are tourism & hospitality, transportation, health care, and business & logistics services.. The city’s employment market is thriving and more people relocate to the city for this reason.
Lots of things to explore
Savannah is a city that offers endless leisure activities and interesting places to visit, so it’s almost impossible to get bored here. From thrilling tours to festivals, top-tier restaurants, museums, and incredible parks & gardens, there’s always something to do every day.
Moreover, if you ever aim to cater to tourist accommodations, Savannah is an ideal place because it welcomes a great number of tourists annually. In fact, the city registered around 15M overnight visitors just in 2021.
Is Airbnb Profitable in Savannah, GA?
Let’s cut to the chase! Airbtics confirms that Airbnb investment properties in Savannah are indeed financially rewarding. Albeit, investors should still note that the level of profitability depends on a variety of factors such as having the ideal property type and location.
In addition, if you’re aiming to cater to short-term rentals in this city, you should also consider the Airbnb rules in Savannah. But if you are still uncertain about buying an investment property, you can always try doing rental arbitrage since it’s legal.
Based on Airbtics’ data, an average Airbnb host can earn up to $59,951 with an average occupancy rate of 85% for managing a 1-bedroom property in Savannah. With over 1,569 Airbnb listings in Savannah and a seasonality of 45%, it’s certainly a catch for property investors!
Best Areas to Buy a Rental Property in Savannah, Georgia
Savannah is the oldest city and the fifth larger community in the state of Georgia. The city has around 71 designated neighborhoods and each of them carries its own charm. For this reason, it can be challenging to choose the right location for your rental property.
Check out the best neighborhoods and nearby cities in Savannah, Georgia, that are highly recommended for starting an Airbnb business:
1. Thomas Square, Savannah
- Total Number of Airbnb Listings: 63
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $320,000
- Airbnb Annual revenue: $61,612
- Gross rental yield: 19.25%
2. Victorian District – East, Savannah
- Total Number of Airbnb Listings: 126
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $640,000
- Airbnb Annual revenue: $98,495
- Gross rental yield: 15.39%
3. North Historic District, Savannah
- Total Number of Airbnb Listings: 393
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $574,900
- Airbnb Annual revenue: $86,480
- Gross rental yield: 15.04%
4. Metropolitan, Savannah
- Total Number of Airbnb Listings: 63
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): $659,000
- Airbnb Annual revenue: $88,793
- Gross rental yield: 13.47%
5. South Historic District, Savannah
- Total Number of Airbnb Listings: 352
- Best bedroom size: 2 bedrooms
- Median property price (2 bedrooms): $614,000
- Airbnb Annual revenue: $74,380
- Gross rental yield: 12.11%
6. Tybee Island, GA
- Distance from Savannah: 15 miles
- Total Number of Airbnb Listings: 707
- Best bedroom size: 1 bedroom
- Median property price (1 bedroom): $365,000
- Airbnb Annual revenue: $52,235
- Gross rental yield: 14.31%
7. North Charleston, SC
- Distance from Savannah: 82 miles
- Total Number of Airbnb Listings: 453
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $275,000
- Airbnb Annual revenue: $60,108
- Gross rental yield: 21.86%
8. Charleston, SC
- Distance from Savannah: 83 miles
- Total Number of Airbnb Listings: 1,331
- Best bedroom size: 4 bedrooms
- Median property price (4 bedrooms): $629,000
- Airbnb Annual revenue: $173,447
- Gross rental yield: 27.57%
9. Augusta, GA
- Distance from Savannah: 106 miles
- Total Number of Airbnb Listings: 685
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $162,000
- Airbnb Annual revenue: $50,357
- Gross rental yield: 31.1%
10. Athens, GA
- Distance from Savannah: 185 miles
- Total Number of Airbnb Listings: 566
- Best bedroom size: 3 bedrooms
- Median property price (3 bedrooms): $274,900
- Airbnb Annual revenue: $70,370
- Gross rental yield: 25.60%
Conclusion
In summary, there are a variety of great neighborhoods and cities nearby Savannah. The best places to Airbnb in Savannah, Georgia, offer attractive investment opportunities with nice rental yields and annual revenue to investors and hosts.
However, it’s always a good idea to consider analyzing each of the options carefully. Thus, you should go further and make use of the best analytics tools available to boost your profitability. Check our Airbnb income calculator and stand among your competitors now!
Explore The Most Profitable Airbnb Locations Near Savannah
