What Is the Cost of Living in Savannah, Georgia?

Celebrated for its historic charm and coastal proximity, Savannah, Georgia, is an appealing location for new residents. This overview provides insights into the expenses that shape the cost of living in Savannah, helping individuals and families make informed decisions.

Overall Financial Landscape

Savannah’s cost of living is generally lower than the national average, ranging from 3% to 10% less. Its affordability is influenced by a robust tourism industry, significant port activity, and emerging technology sectors, contributing to a steady economic environment.

Georgia imposes a state sales tax of 4%. Local jurisdictions add their own sales taxes, resulting in a combined average rate of 7.38% to 7.42%. Georgia’s flat income tax rate for 2024 is 5.39%. Standard deductions are $12,000 for single filers and $24,000 for those married filing jointly.

Housing and Utilities

Housing costs in Savannah vary for renters and owners. For renters, a one-bedroom apartment typically ranges from $1,525 to $1,811 per month, while a two-bedroom apartment averages between $1,700 and $2,111 monthly. Rent for a single-family home can be higher, averaging around $2,200 per month. Rents fluctuate by location; Garden City might offer apartments under $1,200, while Skidaway Island or Yamacraw Village can exceed $2,500.

The median home price in Savannah is between $332,576 and $409,900. Property taxes in Chatham County are calculated using a millage rate applied to 40% of the property’s fair market value. Current millage rates include:
Approximately 10.518 mills for General Maintenance and Operations.
Around 4.502 to 6.502 mills for the Special Service District.
About 1.056 mills for the Chatham Area Transit Authority.
School taxes at 17.481 mills.

Utility costs for basic services, excluding internet, average $198.56 to $240.92 per month. Electricity bills average $233 per month, higher than Georgia’s state average of $163.52. Natural gas bills are typically about $37 per month. Water and sewer services are often billed bi-monthly, with rates based on consumption and projected to increase by 5.0% annually through 2029. Internet services generally cost $50 to $100 per month, though introductory plans may increase after a promotional period.

Transportation and Daily Necessities

Transportation costs in Savannah include public transit and private vehicles. The Chatham Area Transit (CAT) system offers a one-way bus fare of $1.50, a day pass for $3.00, a weekly pass for $14.00, and a monthly pass for $50.00. The downtown dot shuttle and Savannah Belles Ferry provide free services. For private vehicles, average gasoline prices are $3.00 to $3.02 per gallon.

Car insurance premiums for full coverage average $2,164 to $3,362 annually, or $175 to $280 per month. Parking in the historic district adds to expenses. Metered street parking and city-owned garages generally cost $1 to $2 per hour during the day. Flat rates of $2 to $5 apply for evenings and weekends in some garages, with daily maximums up to $14 to $17. Street parking is typically free on Sundays and after 8 PM on weekdays. Overall transportation expenses are estimated at $10,391 annually for a single adult and $15,148 for a family of four.

Daily necessities also contribute to the cost of living. Grocery expenses are estimated at $360.83 per month for a single adult, and $9,882 annually for a family of four. Savannah’s grocery prices are about 2% higher than the national average. Dining out costs vary: breakfast $10 to $30, lunch $15 to $40, and dinner $30 to $70. An inexpensive meal in Georgia averages $16.11. Personal care products and household supplies are typically included within broader grocery or goods and services categories.

Healthcare and Other Expenses

Healthcare costs contribute to living expenses. A doctor’s visit in Georgia can range from $86 to $131 for cash payments, or $100 to $600 without insurance. Some community health centers offer nominal fees, such as $25 for qualifying individuals. Georgians spend an average of $2,437 annually on prescription medications, with brand-name drug prices increasing 4% in early 2025. For Medicare beneficiaries, the Inflation Reduction Act caps out-of-pocket prescription drug costs at $2,000 per year starting in 2025.

Health insurance premiums vary; the average annual cost in Georgia previously reached $7,955. Nationally, private health insurance plans are projected to cost $621 per month for a Silver plan in 2025, a 7% increase from the prior year. These figures are influenced by plan type, age, and subsidies.

Miscellaneous expenses cover a range of activities. Entertainment options include movie tickets, averaging $19.53 in Georgia, or a monthly budget of $12.48 for movies in Savannah. Museum admissions vary; some general entries are around $10, while others offer discounted rates for SNAP EBT cardholders or free admission on specific days. Local events, such as Savannah Bananas baseball games, have tickets starting from $35. Many community festivals and concerts are free to attend.

Fitness memberships range widely; some gyms offer plans from $9.99 to $15 per month, while specialized facilities may charge around $50 per month, often with an initiation fee. For families, childcare expenses are a consideration. The average starting cost for childcare providers is $17.65 per hour, translating to $706 for a 40-hour week, or $2,295 monthly. Average monthly daycare and preschool costs are around $469, though infant care in Georgia can range from $950 to $2,200 per month.