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Airbnb Investment All About Airbnb

Best Places to Airbnb in Georgia: Top areas for real estate investment in Savannah

best places to airbnb in georgia

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 places to airbnb in georgia

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

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Airbnb Rules All About Airbnb

Airbnb Rules in Savannah

savannah airbnb rules

Are you looking to invest in an Airbnb property in Georgia? If you have chosen Savannah in particular, then you’re on the right track.

There’s no doubt that the cities in Georgia including Batumi, Tbilisi, and Atlanta are recognized to generate thousands of dollars and have promising occupancy rates by city. An interesting fact is that Savannah also offers various investment opportunities that one should not miss out on.

Continue reading to learn more about Airbnb rules in Savannah and check out the profitability in this city.

Is Airbnb legal in Savannah? 

Let’s cut the story short: Yes, Airbnb is certainly legal in Savannah. With more than 14.8 million visitors annually, this city is famous for attractions including Forsyth Park, Savannah Historic District, The Old Pink House, and a lot more. 

Here is a little proof! As of July 2022, there are 29,717 nights available in Savannah from Airbnb alone. Lucky Savannah manages 207 listings, while Southern Belle and Mary operate 152 and 60 respectively.

How much can I make by running an Airbnb in Savannah?

Currently, there are 1,387 Airbnb listings in Savannah, with 81% of entire houses earning up to $5,332 a month. The Average Occupancy Rate in Savannah is 77% and the average daily rate is $188. According to short-term rentals analytics source Airbtics, a 2-bedroom apartment in Savannah can make up to $84,877 each year. Check out our Short-Term Rental Estimator!

savannah airbnb rules
What Are The Short-term Rental Accommodation Policies in Savannah?
  • It is required to secure an STVR certificate in the city 
  • STVRs are permitted within the short-term vacation rental overlay district, which includes the Downtown, Victorian and Streetcar local historic districts. Outside of this overlay, they are only permitted in certain Business and Agriculture zoning classifications (B-C, B-N, B-L and A-1).
  • A separate application must be obtained for each property used as a STVR.
  • The zoning conditions for short-term rentals in Savannah are:
    1.  No more than 2 adults per bedroom plus 2 adults for each rental unit  
    2. No change to the outside appearance of the dwelling unit or premises 
    3. Parking – Studio-up to 3 bedrooms: The requirement for the type of dwelling unit, 4+ bedrooms: The requirement for the type of dwelling unit, plus 1 space for every 2 additional bedrooms.
  • For properties rented for 90-days or less, hotel/motel taxes must be remitted on the first 30 days of the rental.
how much can you make on airbnb

Is Savannah A Profitable Area to Invest In?

If you’re worried about spending thousands of bucks to purchase a property, the good news is you have the option of not owning one. This is because there are many property investors who enjoy doing rental arbitrage in Savannah as a passive income!

Airbnb metrics are important in order to expect potential revenue and avoid losing hard-earned money. Before starting an Airbnb business, getting to know your preferred area’s occupancy rates, average daily rates, and annual revenue is important to achieve success.

By using an accurate short-term rental calculator, you’ll be able to confirm if Savannah is a good place for investment! In the digital era, it’s easy to discover your estimated annual revenue and high-return investment opportunities in Savannah.

savannah airbnb rules

Source: Airbtics Dashboard

Savannah’s Rental Market 2022

Based on a recent report of Savannah’s rental market trend in 2022, apartment occupancy & rental growth in this city have continuously increased despite the pandemic.

savannah airbnb rules

Source: Rental Growth in Savannah

Profitable Neighborhoods in Savannah

Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:

Suburbs Average House Price (3bd apartments) Average Rent Price Average Airbnb Revenue
Metropolitan $599,900 (1,879 sqft) $2,400 $5,492
North Historic District $1,599,000 (5,223 sqft) $4,300 $12,585
Victorian District - East $400,000 (620 sqft) $3,057 $8,976

Source for Property Price: Properties in Savannah

Conclusion 

In general, considering the Airbnb rules & regulations in Savannah will help your Airbnb business to run smoothly! Aside from the fact that this is a passive income for various hosts, starting an Airbnb business is also a way to enjoy life and connect with new people from all over the world. Try Airbtics now and make the wisest investment decisions!

Airbtics
ANALYZE SAVANNAH NOW!
Categories
Airbnb Rental Arbitrage All About Airbnb

Airbnb Rental Arbitrage in Savannah

savannah airbnb rental arbitrage

Are you interested in achieving financial independence through passive income? Here’s a disclaimer: you don’t need to own a property to start the Airbnb rental arbitrage business.

In this article, we featured the entire process of Airbnb rental arbitrage in Savannah, its profitability, along with the best areas and neighborhoods. Continue reading to learn more about short-term regulations and ways to convince landlords to sublet properties for rental arbitrage.

What is Rental Arbitrage? 

Rental Arbitrage is a perfect way to start an Airbnb business with no money. By convincing landlords to lease you a property, you can furnish and sublease it on Airbnb and VRBO. No need for you to buy a property.

It is perfectly legal and is a proven scalable business model. In my podcast, I have spoken to various entrepreneurs doing Airbnb arbitrage full-time. 

Here’s a proof! In Savannah, Mary manages 63 listings and there’s a huge possibility that she doesn’t own all the properties. She has made $5,868,897 in the last 12 months.  

savannah airbnb rental arbitrage

Is Rental Arbitrage Profitable in Savannah?

Before you dive in and start putting out your hard-earned money on a property, it’s important to know how much profit you can make. For instance, the best neighborhood to invest in is the North Historic District, which is popular for its culture, art, museums, historic monuments and forts of the Revolutionary and Civil War eras.

Using Airbtics’ income generator, you can easily discover that rental arbitrage in Savannah is profitable.

savannah airbnb rental arbitrage
Profit & Monthly Expense in Savannah

Based on Airbtics’ data, you can earn a whopping $12,585 per month for a 3-bedroom apartment in North Historic District alone. With the data provided, you can certainly tell that investing in a property in Savannah is profitable.

Average Rent Price Airbnb Monthly Revenue Monthly Expense Monthly Profit
$4,300 $12,585 $2,517 $5,768

Source: Airbtics dashboard

The monthly profit can be calculated by subtracting the Airbnb monthly revenue, the rental price, and the monthly expenses ($12,585 – $4,300 – $2,517 = $5,768).

 Startup Cost in Savannah

Now that you have an overview of how much your monthly expense & revenue, let’s talk about the start-up cost. How long does it take for an investor to get back the startup cost? Let’s take a look at this calculation:

Total Startup Cost (Average startup cost + 2 months rent price) Cash Return Time
$10,600 2 months

The average estimated startup cost (for furnishing) in Savannah is around $2,000. To compute the total startup cost, it is necessary to add the 2 months of average rent price ($8,600). Now that we have a total startup cost of $10,600, cash return time can be calculated by dividing this by the monthly profit ($5,768). 

Given your monthly revenue of $5,768, it will take approximately 2 months time to get back the startup cost! In such a short period of time, you can already expect profit and consider starting your second unit for rental arbitrage. If this sounds promising to you, then go ahead and look at the other best areas for rental arbitrage in Savannah.

Best Areas for Rental Arbitrage in Savannah

Before investing in a particular area in Savannah, you have to take a look at the top markets and number of listings to set your expectations towards success. Check out the top 3 suburbs in Savannah ranked by their annual revenue, along with their occupancy & daily rates!

1. Metropolitan

This neighborhood is situated in the central part of Savannah where there are vast Hispanic business communities. Check out the Airbnb data such as the average revenue, occupancy rates, and more in Metropolitan

Type of Bedrooms Average Rent Price Average Airbnb Revenue Occupancy Rates Average Daily Rate
1 bedroom $1,050 $3,456 93% $142
2-bedroom $2,000 $5,929 83% $214
3-bedroom $2,400 $5,492 85% $244

According to our Airbtics Dashboard, there are more than 57 Airbnb listings with 3 condo properties and 10 one-bedroom properties in this area. The monthly revenue for most properties in Metropolitan is more than $2,422 per month with occupancy being more than 80%.

2. North Historic District

The North Historic District of Savannah is one of the preferred suburbs by tourists due to the nearby attractions including the Savannah Historic, Theatre, City Market, Wright Square, and more. Check out the Airbnb data such as the average revenue, occupancy rates, and more in North Historic District:

Type of Bedrooms Average Rent Price Average Airbnb Revenue Occupancy Rates Average Daily Rate
1 bedroom $2,690 $6,011 88% $237
2-bedroom $3,125 $7,910 85% $310
3-bedroom $4,300 $12,585 81% $567

This area has a total of 267 Airbnb listings with 25 private room properties and 129 one-bedroom property. The monthly revenue for most properties in North Historic District is more than $5,574 per month with occupancy being more than 77%.

3. Victorian District East

Known as Savannah’s most walkable neighborhood, Victorian District East offers a combination of commercial and historical architecture. Check out the Airbnb data such as the average revenue, occupancy rates, and more in Victorian District East:

Type of Bedrooms Average Rent Price Average Airbnb Revenue Occupancy Rates Average Daily Rate
1 bedroom $2,379 $4,471 92% $200
2-bedroom $2,600 $6,595 89% $248
3-bedroom $3,057 $8,976 87% $381

This area has a total of 60 Airbnb listings with 17 private room properties and 21 one-bedroom properties. The monthly revenue for most properties in Victorian District East is more than $4,227 per month with occupancy being more than 84%.

how much can you make on airbnb

Short-term rental regulations in Savannah

To begin with, it’s certainly important to be familiar with the Airbnb rules in Savannah to make sure that your business will run smoothly. Here are some of the short-term rental regulations and laws to take note of:

  • It is required to secure an STVR certificate in the city 
  • STVRs are permitted within the short-term vacation rental overlay district, which includes the Downtown, Victorian and Streetcar local historic districts. Outside of this overlay, they are only permitted in certain Business and Agriculture zoning classifications (B-C, B-N, B-L and A-1).
  • A separate application must be obtained for each property used as a STVR.
  • The zoning conditions for short-term rentals in Savannah are:
    1.  No more than 2 adults per bedroom plus 2 adults for each rental unit  
    2. No change to the outside appearance of the dwelling unit or premises 
    3. Parking – Studio-up to 3 bedrooms: The requirement for the type of dwelling unit, 4+ bedrooms: The requirement for the type of dwelling unit, plus 1 space for every 2 additional bedrooms.
  • For properties rented for 90-days or less, hotel/motel taxes must be remitted on the first 30 days of the rental.

 

Rental Properties in Savannah

To run an Airbnb rental arbitrage in Savannah, you can look at property websites and get a grasp of the ranging prices:

1. Zillow
sublet in savannah
2. Apartments
sublet in savannah

How to Find Landlords for Airbnb Rental Arbitrage

Airbnb investment through rental arbitrage is one of the best strategies to have passive income. However, it could be a challenge to find a landlord that allows their property for subletting on Airbnb. You can also convince a landlord by following the rental arbitrage email template & be extra creative! 

Here are ways how you can find landlords that allow Airbnb rental arbitrage:

  1. Real Estate Websites

Renters in the digital world who are looking for properties online can easily connect with landlords. Some of the most recommended online real estate websites which allow you to filter by city, state, or ZIP code are:

However, you can also find apartment & condominium properties online in the following websites:

  1. Search Engines & Marketplaces

There are numerous property owners who are leasing their properties and you can easily find them on Google & online marketplaces. Check out some of the most recommended marketplaces:

  1. Communicate with Landlords

If you are currently renting a space or know someone who is, then it’s also recommended to speak with them. Start by asking if there are vacant rooms or properties and let them know about your intentions of putting them up for rental arbitrage. They might also be able to recommend neighbors or local friends who are also interested in this idea!

Airbtics
ANALYZE SAVANNAH NOW!
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