31415, Savannah, GA

The 31415 zip code of Savannah, GA has a median home value of $236,000. The home equity in this zip code is $128,000. The average home price in the 31415 zip code has increased by 7.5% over the past year. This is a slower growth rate than the national average of 9%.

There are many factors that contribute to the growth of home prices. Some reasons include an increase in demand due to an improving economy and increasing job opportunities, as well as low interest rates that make it more affordable to borrow money for a purchase. Additionally, there are many wealthy people who are looking to buy homes in Savannah because of its beautiful scenery and historical significance.

While there is certainly some good news associated with the increase in home prices in the 31415 zip code, it is important to remember that not everyone can afford a house at this price point. Many people who live in this area are renters who cannot afford to buy a house outright or do not have enough money saved up for a down payment on a property.

Overall, it appears that Savannah's housing market is continuing to grow at a slower rate than most other parts of the country but remains relatively stable overall compared to previous years. This suggests that there may be room for further growth over time if buyers continue to become more interested in purchasing homes here and if interest rates stay low