The trade website Construction Coverage released its study of large, medium and small cities with the most mortgage delinquencies, and it shows that longterm COVID-19 symptoms are not relegated just to humans. The economic ripple effects of the worldwide pandemic led to spiking inflation, rising material and construction costs, higher interest rates and tigh housing supplies. Add the costs of living ― Savannahians now pay 107 percent for basic expenses such as groceries, gas, childcare, insurance, and utilities.
The sunset of loan forbearance and relief payments at the end of 2023 led to homeowners falling behind on their mortgage payments. Nationwide, the number of mortgages falling 30 days behind during the second quarter of 2025 has risen 3.35 percent.
Savannah’s rate is slightly lower at 3 percent. Almost 1 percent (.08) have fallen 90 days past due. The city’s median home price hovers in the mid-$350s with the median household income just over $72,000.
Those figures land Savannah in 42nd place among 94 mid-size cities.