Is It Expensive To Live In Savannah Georgia?
The first thing that hits you as soon as you arrive in Savannah Georgia is the architectural beauty of the city. In fact, the city is so gorgeous that even during the civil war the city was spared from destruction, that’s how gorgeous it is. Aside from that, there is a vast cultural and historical richness that surrounds the area.
The festivals through the peak season are definitely something that you should look forward to. Also, with so many cobblestone squares and parks shaded by impressive oak trees, the city of Savannah GA is one of the most desirable places to live in Georgia. If you are considering moving here, you probably wonder if Savannah GA is an affordable place to live? Let’s find out if it is expensive to live in Savannah Georgia.
A good place to live is not always a cheap place, but this doesn’t necessarily apply to the city of Savannah GA. In fact, many residents consider Savannah GA to be a great place to live and an affordable city. The overall cost of living is 10% lower than the national average and if we compare Savannah with its southern rival, Charleston SC, the overall cost is about 20% lower in Savannah.
Unlike most US cities where the housing index is the highest expense in the cost of living difference, in Savannah GA, housing has the lowest index in the overall cost of living difference. This is a huge advantage for anyone who decides to relocate here and it is definitely one of the things Savannah Ga is known for.
Savannah GA has a median home value of about $167,000 and utilities along with groceries have the highest cost of living index, but it will still be around the national average. The median household income in Savannah GA is about $40,000 a year and the prosperous job market encourages more people to relocate to Savannah. If you are amongst them, contact one of our top real estate agents in Savannah GA for some of the best home deals around.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
The phrase cool by association is something that we are all familiar with as we probably encounter it during our daily lives. In real estate, this principle can be exemplified through the ...
Income (loss) resulting from the rental of real property in which the individual does not significantly participate. In most cases, passive losses may not be used to reduce active income. ...
Gentrification is an urban development phenomenon wherein a specific area changes its population profile by way of an economic appreciation of its real estate. The best way to understand ...
The abstraction method is a valuation procedure used to determine the land value relative to the total market value of the property. The abstraction approach is most often used when there ...
Simulation that enables investors to determine variations in the rate of return on an investment property in accordance with changes in a critical factor. It is an experiment with decision ...
One based on the whole body of the law. A lawful right is being exercised. ...
A written mortgage document. A mortgage instrument states the terms of the mortgage including the interest rates, length of payments, payment dates, and remedies the bank is entitled to in ...
The amount of money a developer must directly invest in order to obtain a development loan. It pays for the initial development cost including costs for items such as architectural plans, ...
The return by owners of a property investment usually through a depreciation allowance. a clause in a contract permitting the prior owner of real estate to recover under certain ...
Have a question or comment?
We're here to help.