Danville, KY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Danville Neighborhoods Since 2000




Danville, KY 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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Danville Housing Market Information

With 16,690 people, 6,417 houses or apartments, and a median cost of homes of $167,312, Danville real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Danville, accounting for 64.46% of the city's housing units. Other types of housing that are prevalent in Danville include duplexes, homes converted to apartments or other small apartment buildings ( 17.14%), large apartment complexes or high rise apartments ( 8.96%), and a few mobile homes or trailers ( 4.93%).

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 49.39% owning and 50.61% renting.

There is a lot of housing in Danville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Danville built between 1940-1969 ( 34.08%). A lesser amount of the housing stock also hails from between 2000 and later ( 11.17%). There's also some housing in Danville built before 1939 ( 10.12%).

Vacant housing appears to be an issue in Danville. Fully 10.95% 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

Real estate appreciation rates in Danville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging -0.10% during the period.

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 1.70%, 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 0.56%, which equates to an annual appreciation rate of 2.24%.

Relative to Kentucky, our data show that Danville's latest annual appreciation rate is lower than 80% of the other cities and towns in Kentucky.

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:
$167,312

Danville, KY HOME PRICES

Value Range
> $1,035,000 0.0
$776,001 - $1,035,000 1.2
$517,001 - $776,000 2.0
$414,001 - $517,000 2.3
$310,001 - $414,000 6.1
$207,001 - $310,000 15.9
$103,001 - $207,000 40.2
$52,001 - $103,000 24.1
$0 - $52,000 8.2

Very High for KY
Average for Nation

Value Relative to Nation Value Relative to State
42.6754951365288 15.2882205513784

Number Of Homes And Apartments:
6,417

Danville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KY*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
26.86% 1.39% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$861 / per month

Homeownership Rate

Homeownership
Owners 49.39
Renters 50.61
Vacant 10.95

Housing Market Details

 

Age of Homes

AGE OF Danville HOMES
2000 or Newer 11.2
1970 - 1999 44.6
1940 - 1969 34.1
1939 or Older 10.1

Types of Homes

TYPE OF Danville HOMES
Single-Family 64.5
Townhomes 4.5
Small Apt. Buildings 17.1
Apt. Complexes 9.0
Mobile Homes 4.9
Other 0.0

Home Size

SIZE OF Danville HOMES
No Bedroom 0.54
1 Bedroom 11.05
2 Bedrooms 32.38
3 Bedrooms 40.08
4 Bedrooms 12.81
5 or more bedrooms 3.15