How much is a home worth in ZIP code 31406?

The typical home in 31406 is worth $316,943, based on the Zillow Home Value Index.

Are home values rising in 31406?

Home values in 31406 are down 3.7% over the past year, and up 7.4% a year over five years.

What is the typical rent in 31406?

A typical home in 31406 rents for about $1,566 a month, a gross rental yield of 5.9%.

What is the property tax rate in 31406?

The effective property tax rate in 31406 is 0.8% — roughly $2,692 a year on a typical home.

ZIP code 31406 has a population of 34,904 and a median household income of $67,120.

HousingHandbookReference data

…

U.S. ZIP Code · GA31406

Chatham County · Savannah, GA

Typical home value

$316,943^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -3.7%
5-year / yr: +7.4%
10-year / yr: +6.8%

Relative price

vs U.S.: +11.6%
vs metro: -1.7%
vs state: +23.9%

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 31406 is worth $316,943 — 1.7% below the Savannah, GA median. Over the past year, values have fallen 3.7%. Homes here rent for a typical $1,566 a month — a 5.9% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,566^[2]
Gross yield: 5.9%^[2]
Cap rate: 3.6%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.8%^[3]
Typical annual tax: $2,692^[3]

#Climate risk

FEMA National Risk Index ratings for Chatham County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively High^[4]
Riverine flood: Relatively Moderate
Coastal flood: Very High
Wildfire: Relatively Moderate
Drought: Relatively Low
Heat wave: Relatively Moderate
Hurricane: Very High
Tornado: Relatively Moderate
Earthquake: Relatively Moderate
Winter weather: Relatively Moderate

#Who lives here

Population: 34,904^[3]
Median household income: $67,120^[3]

#Migration

Household moves in and out of Chatham County over a year, from IRS tax-return data.

Net migration: +258^[5]
Moved in: 10,774
Moved out: 10,516

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 8
Elementary: 4
Middle: 2
High: 1

Jenkins High School
High · Grades 9–12 · Savannah-Chatham County
1,179 students
Hesse School
Elementary · Grades PK–8 · Savannah-Chatham County
995 students
The STEM Academy at Bartlett
Middle · Grades 6–8 · Savannah-Chatham County
697 students
White Bluff Elementary School
Elementary · Grades PK–5 · Savannah-Chatham County
660 students
Isle of Hope School
Elementary · Grades PK–8 · Savannah-Chatham County
613 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield5.9%

Net yield (after ~40% expenses)3.6%

Annual rent$18,793

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$1,603

Loan principal$253,554

Down payment$63,389

Total interest paid$323,394

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.34

Monthly cost to own$2,091

Monthly rent$1,566

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 47th percentile^[1]
Rental yield: 23rd percentile^[2]
Property tax: 71st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 31406?: The typical home in 31406 is worth $316,943, based on the Zillow Home Value Index.
Are home values rising in 31406?: Home values in 31406 are down 3.7% over the past year, and up 7.4% a year over five years.
What is the typical rent in 31406?: A typical home in 31406 rents for about $1,566 a month, a gross rental yield of 5.9%.
What is the property tax rate in 31406?: The effective property tax rate in 31406 is 0.8% — roughly $2,692 a year on a typical home.
Who lives in 31406?: ZIP code 31406 has a population of 34,904 and a median household income of $67,120.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

31407 vs 31406 →
Port Wentworth, GA
Typical home
$314,698
Gross yield
6.2%
31308 vs 31406 →
GA
Typical home
$319,499
Gross yield
—
31419
Savannah, GA
Typical home
$310,314
Gross yield
6.0%
31303
GA
Typical home
$325,468
Gross yield
—
31329
Springfield, GA
Typical home
$307,915
Gross yield
7.7%
31302
Bloomingdale, GA
Typical home
$332,705
Gross yield
7.4%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 31406 against any other ZIP — full side-by-side table.

Compare 31406 →

#Jump to section

U.S. ZIP Code · GA31406

Get more data on ZIPs like this

Get more data on ZIPs like this