Savannah’s Low Unemployment Rate Continues to Boost Real Estate Confidence
By Dave Wright – Savannah Realtor & Mortgage Loan Officer
Good economic news continues to roll in for the Savannah metro area. Georgia Southern University’s latest Economic Monitor reports that Savannah’s regional unemployment rate dropped to 2.9% in Q4 of 2024, signaling strong economic growth and a rebound from the previous quarter’s hurricane-related slowdown.
And while unemployment ticked up slightly in Q1 2025 to 3.2%, according to the Georgia Department of Labor (see chart below), that number is still remarkably low by historical standards — and continues to provide positive momentum for both homebuyers and sellers.
Why a Low Unemployment Rate Matters for the Housing Market
A low unemployment rate is one of the clearest indicators of a region’s economic health — and in Savannah, it’s helping fuel a real estate market full of opportunity. Here's how:
1. Stable Employment = Stronger Home Loan Approvals
With unemployment holding steady near 3%, most local buyers are working consistently and earning solid wages. That’s great news for mortgage eligibility, especially with private-sector wages in Savannah rising to $25.78/hour by the end of 2024.
2. Confidence Breeds Action
When the job market is strong, people feel more secure about buying or upgrading their homes. That confidence supports higher demand, benefiting sellers and stimulating real estate activity across the board.
3. Local Growth Draws Investment
With major employers like Hyundai and growing sectors such as logistics and hospitality expanding in our region, Savannah continues to attract both residents and outside investors — especially in neighborhoods with historic charm and proximity to downtown.
What the Numbers Say
From March 2024 to March 2025, Savannah's unemployment rate fluctuated slightly — from a low of 2.5% in April to a high of 3.7% in August, before settling back down. The most recent March 2025 rate of 3.2% is still well within what economists consider a full-employment economy. In short, Savannah remains strong.
Thinking About Buying or Selling?
A healthy job market is one of the biggest green lights for real estate activity. Whether you’re a first-time buyer, looking to refinance, or ready to list your home, now is a smart time to act. As both a Realtor and a licensed Mortgage Loan Officer, I can help guide you through the process with insight, strategy, and trusted experience.
Let’s talk about your goals — and how Savannah’s strong economy can help you reach them.
Contact Dave Wright today at SavannahSouthernHomes.com
