Danville IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



map preview
Please wait, loading your map...




Danville, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Danville Housing Market Information

With a population of 30,479, 12,248 total housing units (homes and apartments), and a median house value of $65,521, house prices in Danville are some of the most affordable in Illinois as well as the nation.

Single-family detached homes are the single most common housing type in Danville, accounting for 71.55% of the city's housing units. Other types of housing that are prevalent in Danville include large apartment complexes or high rise apartments ( 17.10%), duplexes, homes converted to apartments or other small apartment buildings ( 7.58%), and a few row houses and other attached homes ( 1.90%).

The most prevalent building size and type in Danville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 51.72% owning and 48.28% renting.

The housing in Danville was primarily built before 1939 ( 43.90%), making the housing stock in Danville some of the oldest overall in America, although there is a range of ages of homes in Danville. The next most important housing age is between 1940-1969 ( 32.82%), followed by between 1970-1999 ( 19.28%). There's also some housing in Danville built between 2000 and later ( 4.01%).

Vacant housing appears to be an issue in Danville. Fully 16.37% of the housing stock is classified as vacant. Left unchecked, vacant Danville homes and apartments can be a drag on the real estate market, holding Danville real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Danville Home Appreciation Rates

Homes have actually lost value in Danville over the last then years, as home values have seen a decline of 3.21% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Danville home appreciation rates at -3.10%, which equates to an annual appreciation rate of -11.82%.

Over the last year, Danville appreciation rates have trailed the rest of the nation. In the last twelve months, Danville's appreciation rate has been -0.99%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Danville were at -3.10%, which equates to an annual appreciation rate of -11.82%.

Notably, Danville's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Illinois, our data show that Danville's latest annual appreciation rate is lower than 90% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Danville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Danville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Danville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$65,521

Danville, IL HOME PRICES

Value Range
> $1,027,000 0.3
$770,001 - $1,027,000 0.1
$514,001 - $770,000 0.2
$411,001 - $514,000 0.4
$309,001 - $411,000 1.7
$205,001 - $309,000 3.3
$103,001 - $205,000 17.7
$51,001 - $103,000 33.2
$0 - $51,000 43.2

Very Low for IL
Very Low for Nation

Value Relative to Nation Value Relative to State
97.9503649635036 98.2278481012658

Number Of Homes And Apartments:
12,248

Danville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2020 Q2 - 2020 Q3
Last 12 Months:
2019 Q3 - 2020 Q3
Last 2 Years:
2018 Q3 - 2020 Q3
Last 5 Years:
2015 Q3 - 2020 Q3
Last 10 Years:
2010 Q3 - 2020 Q3
Since 2000:
2000 Q1 - 2020 Q3
3.27% 0.16%
1
1
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,014 / per month

Homeownership Rate

Homeownership
Owners 51.72
Renters 48.28
Vacant 16.37

Housing Market Details

 

Age of Homes

AGE OF Danville HOMES
2000 or Newer 4.0
1970 - 1999 19.3
1940 - 1969 32.8
1939 or Older 43.9

Types of Homes

TYPE OF Danville HOMES
Single-Family 71.5
Townhomes 1.9
Small Apt. Buildings 7.6
Apt. Complexes 17.1
Mobile Homes 1.9
Other 0.0

Home Size

SIZE OF Danville HOMES
No Bedroom 1.23
1 Bedroom 14.14
2 Bedrooms 32.74
3 Bedrooms 36.67
4 Bedrooms 12.89
5 or more bedrooms 2.32