Quick answer
In Savannah, buying breaks even around year 28. Monthly ownership cost $2,416 vs 2BR rent $1,750/mo. If you plan to stay 28+ years, buy. Less, rent.
Rent vs Buy · GA
Rent vs Buy in Savannah (2026)
Real math using GA's 0.83% property tax rate, $2,300/year average insurance, and a 6.8% 30-year fixed mortgage. Accounts for opportunity cost — what the down payment would earn invested at 7%.
Last updated: April 23, 2026
Verdict at current rates
Buy after year 28
If you stay 28+ years in Savannah, buying pulls ahead of renting + investing the down payment. Less than 28 years, rent and invest the difference.
Monthly Cost Breakdown
Buying
$2,416/mo
Mortgage P&I
$264,000 loan, 30yr @ 6.8%
$1,721
Property tax
0.83% of assessed (GA avg)
$228
Homeowners insurance
$2,300/yr GA avg
$192
Maintenance
1%/yr of home value
$275
Cash at close: ~$74,250 ($20% down + fees)
Renting
$1,750/mo
2BR rent (median)
Savannah market rate
$1,750
Renters insurance
~$15/mo typical
$15
Down payment invested
$66,000 growing at 7%/yr
(opportunity cost)
Monthly gap: $666 cheaper than buying. Renter invests that difference.
Year-by-Year Net Position
"Buy wins by" = what you'd clear selling the home minus what the renter has in investments. Positive = buy ahead.
| Year | Home value | Buyer equity (net) | Renter portfolio (net) | Buy wins by |
|---|---|---|---|---|
| Year 5 | $382,560 | $-102,369 | +$22,843 | $-125,212 |
| Year 10 | $443,492 | $-154,679 | $-22,828 | $-131,851 |
| Year 15 | $514,129 | $-187,879 | $-69,658 | $-118,220 |
| Year 30 | $800,997 | $-81,884 | $-110,458 | +$28,574 |
Break-even: year 28.That's when accumulated home equity minus ownership costs finally exceeds the renter's invested portfolio.
Assumptions
Every rent-vs-buy calculator depends on the assumptions. Here are ours — all transparent, none cherry-picked to bias the answer.
This is a rule-of-thumb calculator. Real decisions involve your specific tax bracket, any HOA, mortgage points, closing-cost negotiations, and exact loan terms.
Frequently Asked Questions
Is it better to rent or buy in Savannah?
In Savannah with a 20% down payment on a median $330K home at 6.8% mortgage rate, buying breaks even around year 28. If you plan to stay less than 28 years, renting wins financially. If you'll stay 28+ years, buying pulls ahead.
What's the monthly cost of owning a home in Savannah?
On a median $330K home with 20% down at 6.8% fixed rate: mortgage P&I $1,721, property tax $228 (0.83% of assessed value), homeowners insurance $192 (GA average $2,300/year), and maintenance $275 (1% of home value/year). Total: $2,416/month.
How much down payment do I need to buy in Savannah?
20% down on a median Savannah home ($330K) is $66,000. Plus closing costs of roughly 2.5% ($8,250). Total cash-to-close: about $74,250. FHA loans allow 3.5% down ($11,550) but require mortgage insurance that adds ~$129/month.
What's the 10-year cost of renting vs buying in Savannah?
Over 10 years in Savannah: renters pay $240,741 in cumulative rent but have $217,913 invested (assuming 7% return on the $66,000 down payment + monthly savings). Buyers have paid $346,095 in total ownership costs and hold $218,025 in home equity. Net: renting is ahead by $131,851 at year 10.