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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 4,218, 2,016 total housing units (homes and apartments), and a median house value of $212,583, house prices in Danville are solidly below the national average.
Single-family detached homes are the single most common housing type in Danville, accounting for 47.98% of the borough's housing units. Other types of housing that are prevalent in Danville include row houses and other attached homes ( 23.31%), duplexes, homes converted to apartments or other small apartment buildings ( 15.15%), and a few large apartment complexes or high rise apartments ( 13.56%).
The most prevalent building size and type in Danville are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 42.15% owning and 57.85% renting.
The housing in Danville was primarily built before 1939 ( 35.56%), 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 1970-1999 ( 33.51%), followed by between 1940-1969 ( 24.40%). There's also some housing in Danville built between 2000 and later ( 6.53%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Danville, where house values have increased just 43.28%, which is annualized rate of 3.66%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Appreciation rates are so strong in Danville that despite a nationwide downturn in the housing market, Danville real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Danville appreciation rates continue to be some of the highest in America, at 8.36%, which is higher than appreciation rates in 88.39% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Danville. Danville appreciation rates in the latest quarter were at 4.44%, which equates to an annual appreciation rate of 18.98%.
Importantly, this makes Danville one of the highest appreciating communities in the nation for the latest quarter, and may signal the borough's near-future real estate investment strength.
Relative to Pennsylvania, our data show that Danville's latest annual appreciation rate is higher than 80% of the other cities and towns in Pennsylvania.
$212,583
for Pennsylvania
for nation
2,016
$1,601 / per month