Retiring in Savannah, GA: A Vibrant, Historical City Filled With Southern Charm

Is Savannah, Georgia, a good place to retire? Put simply, yes. The historic city of Savannah has been named one of the friendliest cities in the U.S., plus it’s steeped in history and southern hospitality. The Peach State, in particular, is known for its tax-friendliness and affordable cost of living, but what else do you need to know about retiring in Savannah, GA? In this guide, we’ll go over what to expect when you choose to retire in Savannah, GA, including the best Savannah neighborhoods for retirees, the pros and cons of the city, and things you can do with your newfound freedom. 

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The Cost of Retiring in Savannah, GA

While a lot of excitement goes into relocating somewhere new for your golden years, it’s important to consider your budget and how it can affect your quality of life. Fortunately, the cost of living in Savannah is very reasonable and tax-friendly for retirees, in particular.

Taxes

Georgia's retirement taxes are some of the most favorable in the country — a big reason why so many people choose to retire in the state. Georgia doesn’t tax the benefits of Social Security and pension withdrawals, and individuals between the ages of 62 and 64 are eligible for a retirement income exemption of up to $35,000. For those over 65, that number goes up to $65,000. There’s also an additional $1,300 standard deduction for those who turn 65 before the end of the tax year.

Cost of Living

According to BestPlaces, Savannah has a cost of living of 90.2 — nearly 10 percent lower than the national average index of 100 and 4.6 percent lower than the state average. The average cost of miscellaneous expenses in Savannah — such as restaurants, clothing, and entertainment — are higher than the state or national averages, but housing is more affordable, driving the overall cost of living down. 

How much should you have in savings to retire comfortably, you ask? According to Yahoo! Finance, the annual cost of living in GA is about $52,550. In total, you’ll need about $760,500 saved up to retire in Georgia.

Average Home Value

The average home value in Savannah, GA, is $321,100, which is slightly lower than the state average of $325,500. The average home value covers a comfortable space for at least a family of four. Architecture styles in Savannah include colonial houses, which are quite popular, as well as modern and contemporary homes.

When comparing the state of Georgia to other retirement hotspots, like Florida, the Peach State comes out on top.

Retiring in Georgia vs. Florida 

When comparing the state of Georgia to other retirement hotspots, like Florida, the Peach State comes out on top with a more favorable cost of living, tax-friendliness for retirees, and a similar quality of life, including beach access and that signature warmer weather all year. 

Cost of Living

The state of Florida has a cost of living of 103.1 overall, which is significantly higher than Savannah’s 90.2 and Georgia’s 94.5. When it comes to homeowners insurance, Florida is known for having higher premiums due to the risks of flooding, high winds, and hurricane damage. The average premium for $300,000 dwelling coverage in Florida is $5,500 a year vs. $2,000 a year in Georgia. 

Q: Is it cheaper to retire in Florida or Georgia? A: In most cases, it’s cheaper to retire in Georgia than in Florida.

Taxes

Similar to Georgia, Florida is also highly favorable for retirees when it comes to tax-friendliness. Here’s how the two states compare:

Florida Tax Benefits

• No state income tax
• No tax on retirement income or Social Security income
• No tax on withdrawals from retirement accounts
• No inheritance or estate tax
• Property and sales tax are close to the national average

Georgia Tax Benefits

• No tax on Social Security income
• Maximum deduction of $65,000 per person on all retirement income for residents 65 and older
• Maximum deduction of $35,000 per person on all retirement income for residents between 62 and 64
• No inheritance or estate tax

Healthcare

With some of the highest health insurance premiums in the entire country, it can be a challenge to navigate healthcare costs while living in Florida, so finding the right insurance is key. However, there are many world-class healthcare facilities across the state for older adults, and the state typically has a solid overall rating for healthcare compared to other states in the U.S., including Georgia.

Accessibility to healthcare is the main worry in the Peach State, with 75 percent of Georgia being rural and residents struggling to find healthcare outside the state’s urban centers.

Weather

Florida is a humid subtropical region, while Georgia has two different climates — dry continental in the east and humid subtropical in the west.
Summer is the rainy season in both Florida and Georgia, which means powerful thunderstorms — complete with lightning, heavy rain, and high wind speeds — can form in mere minutes. Florida, in particular, is known as the lightning capital of the U.S.

Hurricane season affects both states, but it’s a bigger problem in Florida since it’s a peninsula. When a hurricane hits the state, storm surge is the largest threat along the coast.

Just last year Hurricane Helene broke Florida’s storm surge record, with almost 10 feet of water recorded in some areas and gauges breaking completely in others.
While living inland in either state is a good way to avoid this problem, you’re more likely to be affected by hurricanes and tropical storms in the Sunshine State than in Georgia. 

Skidaway Island is a private community surrounded by marshes, creeks, and rivers. 
(Source: Kati Ann Wright via Facebook)

The Best Places to Retire in Savannah, GA

1. Dutch Island

• Average rent (one-bedroom): $1,450
• Median home sale price: $768,000
• Great for: Beautiful homes, water access, recreation, tranquility
• Commute to Downtown Savannah: 25 minutes

Dutch Island is a private community situated in the Intracoastal Waterway near Savannah. It’s ranked as the best place to live in Savannah by Niche, and it features over 480 single-family homes that are surrounded by a saltwater marsh.

The homes in Dutch Island range in price from the mid $300,000s to over $1M, while the median sale price sits right at $768,000. You’ll have access to a community dock, however, most homes in the area come with their own private docks. The community also boasts a pool, beach volleyball courts, tennis facilities, and even a firepit.

2. Skidaway Island

• Average rent (one-bedroom): N/A
• Median home sale price: $1.1M
• Great for: Community lifestyle, diverse homes, gorgeous surroundings
• Commute to Downtown Savannah: 25 minutes

Situated about 15 miles from Downtown Savannah, Skidaway Island is a private community surrounded by marshes, creeks, and rivers. Skidaway Island State Park is also nearby, meaning easy access to hiking trails and an observation tower perfect for watching over the Skidaway River.

The Landings is a planned community on Skidaway Island ideal for older adults. Residents can join The Landings Golf & Athletic Club for access to the Oakridge Wellness Center and the Franklin Creek Sports Complex. For foodies, Downtown Savannah is nearby, or you can head to Driftaway Cafe — a community favorite with fresh, local seafood options.

3. Talahi Island

• Average rent (one-bedroom): $1,750
• Median home sale price: $585,000
• Great for: Beautiful surroundings, unique homes, delectable dining
• Commute to Downtown Savannah: 15 minutes

Talahi is named after an Ojibwa word that means "among the oaks," an apt name considering the area’s signature oak trees. Ranked as one of the best places to retire in Savannah by Niche, Talahi is home to the Bull River and its namesake marina, a popular spot for boaters and swimmers alike.

Talahi’s ranch-style homes are built with brick and clapboard exteriors and are situated along winding roads bordered by pine and palm trees. There are also newer designs with Neoclassical stylings and split-level options.

Seafood enthusiasts will fit right in with nearby access to seafood restaurants like Rocks on the River and Flying Fish Bar & Grill (a favorite spot with live music on the patio). 

Q: Is Savannah, Georgia, good for retirees? A: With an affordable cost of living and top-notch communities, Savannah is one of the best places in the South for retirees to settle down.

The Olde Pink House is a great choice for a classic southern meal and an elegant dining experience
(Source: The Olde Pink House via Facebook)

Dining in Savannah Is a Real Treat

While Savannah has many excellent restaurants serving up various styles of cuisine, it’s the combination of history and southern hospitality, in particular, that allows diners to gain insight into the city through its signature food. 

The Olde Pink House

The Olde Pink House is a great choice for a classic southern meal and an elegant dining experience. It’s a historic mansion located in one of the city's squares that features a soft pink exterior and large columns. The live piano music makes it a great venue for a romantic dinner or relaxing drink.

Mrs. Wilkes

Mrs. Wilkes Dining Room is a well-known restaurant in Savannah that serves a variety of southern dishes family-style at shared tables. Lunch at Mrs. Wilkes means tables crowded with fried chicken, black-eyed peas, okra gumbo, cornbread dressing, and other delectable southern staples. 

Common Thread

The Common Thread is your spot for upscale cocktails and chef-curated tasting menus. From oyster starters to roasted duck and NY strip entrees, The Common Thread does not disappoint. And for the vegetarians, there’s a separate menu, featuring special salads, pasta, and roasted vegetables.

Collins Quarter

A leisurely breakfast or lunch is a great way to enjoy the relaxing atmosphere of the South. Collins Quarter, which has locations in Forsyth Park and Downtown, offers a daily brunch from 8 a.m. – 3 p.m. that features a variety of southern dishes, such as buttermilk biscuits, eggs benedict, and bananas foster.

The Savannah Arts & Culture Scene Reflects the City’s Past and Modern Creativity 

There is plenty of creativity in the city of Savannah, as evidenced by its many art galleries and music venues. The Design District is a great place to start, with trendy bars and clubs hosting live music, as well as various clothing boutiques, antique shops, and art galleries.

Telfair Museums

Founded in 1886, Telfair Museums is the first art museum to be founded by a woman in America. Previously the home of the renowned Telfair family, it's now the oldest public art gallery in the Southeast. Here you can browse a large collection of period rooms and fine art, all surrounded by elegant architecture.

The Telfair Museums' Jepson Center features a large collection of modern art and works by some of the most prominent artists in the world. It’s also home to the Telfair Children’s Art Museum, where you’ll find immersive and interactive exhibits the entire family can enjoy.

SCAD Museum of Art

Focusing primarily on modern and contemporary works of art, the SCAD Museum of Art is operated by the Savannah College of Art and Design (SCAD) and showcases work from both new and established artists. Thinking of attending SCAD? This museum is a fantastic resource and a must-visit spot! 

Lucas Theatre for the Arts

Built by Arthur Lucas in 1921, the Lucas Theatre for the Arts is one of the most intriguing entertainment venues in the city. Evolving from the time of “moving pictures,” the theatre is now a popular spot to enjoy films, concerts, and an array of other performances. Guided tours cost just $5 per person, and reservations are recommended. 

Savannah’s Tybee Island is home to the area’s best beaches.

Warm Weather Means Lots of Great Beach Days in Savannah

Savannah’s Tybee Island is home to the area’s best beaches. From laid back vibes to more lively atmospheres, each of Savannah's beaches offers something unique. 

North Beach

Tybee Island's North Beach offers a tranquil atmosphere with a wide sandy beach, a lighthouse, and a museum. The Tybee Island Lighthouse — the oldest and tallest lighthouse in Georgia — is 145 feet tall and has actually been constructed three different times. The final build was completed in 1773 after the first two were destroyed by a combination of shoddy building materials and erosion from the tides.

Back River Beach

Back River Beach is a secluded area on Tybee Island that is ideal for enjoying the sunshine, fresh coastal air, and relaxing atmosphere. A sightseeing tour can even be arranged to visit the island's landmarks, like the Tybee Post Theatre.

Historic Wonders All Around Savannah

At almost three centuries old, Savannah is brimming with opportunities to explore the city’s history, and glimpse how time has influenced the local architecture, culture, and tradition. 

Bonaventure Cemetery

One of Savannah's most popular cemeteries is the Bonaventure Cemetery, which is a beautiful multi-acre plot established in 1846. It’s featured on the cover of John Berendt's "Midnight in the Garden of Good and Evil," and acts as the setting for some parts of both the novel and film. 

Factors Walk

Juliette Gordon Low Birthplace

The Juliette Gordon Low Birthplace Museum is a must-visit place for any historical tour in Savannah. Low was the founder of the Girl Scouts and is regarded as a pioneering figure who made significant contributions to society.

First African Baptist Church

The First African Baptist Church was organized in 1773 and officially established in 1777. It’s regarded as one of the oldest African-American churches in the country. One of the church’s past deacons, March Haynes, is recognized for helping to free African captives through his work with the Underground Railroad.

Fort McAllister

Situated south of Interstate 95 near the Ogeechee River, Fort McAllister is a beautiful park that showcases the Confederate fortifications. The site was attacked seven times by Union forces, but it only fell in 1864. The fort is a great spot to bring the grandkids, with historic sites like cannons and bombproof barracks.

Savannah is rich in history, architecture, arts, culture, and dining options, so you’ll never be bored.
(Source: River Street Inn via Facebook)

Pros and Cons of Retiring in Savannah, GA

Now that we’ve explored the many aspects of life in this beautiful city, let’s review the pros and cons of what it’s like to retire in Savannah, GA.

Pros of Retiring in Savannah, GA

• Tax friendliness is a driving factor as to why so many retirees choose Savannah.
• Savannah has beautiful weather which makes it easy to enjoy the beaches and everything that the city has to offer.
• The city is rich in history, architecture, arts, culture, and dining options, so you’ll never be bored.

Cons of Retiring in Savannah, GA

• The healthcare system in Savannah and all across the state of Georgia doesn’t offer great access for rural patients.
• Hot summers mean a lot of humidity, and there is always a risk of hurricanes and flooding during the hurricane season (June to November).
• The southern charm and historical significance of Savannah means that a lot of tourists frequent the city throughout the year, with the busiest time being March to July.

Q: What are the cons of living in Savannah, Georgia? A: Issues with healthcare, weather concerns, and large tourist crowds are among the main cons of living in Savannah.

Retiring in Savannah, GA, With a PODS Moving Container

Looking to retire in Savannah, GA? You can make your move a flexible one with a portable moving and storage container from PODS. Have your container delivered right to your driveway where you can pack and load on your own schedule. Need help with the heavy lifting? PODS can refer you to local packing and loading help. When you’re ready, your container will be picked up and transported to your new home in Savannah, GA. 

Editor’s note: Average rent prices were obtained from RentCafe; median home sale prices were obtained from Redfin. For ease of reading, monthly rental prices were rounded to the nearest $25, home values under $1 million were rounded to the nearest $100, and home values over $1 million were rounded to nearest $100,000.