Danville, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Danville Neighborhoods Since 2000




Danville, PA 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 4,689 people, 2,189 houses or apartments, and a median cost of homes of $115,437, 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 42.06% of the borough's housing units. Other types of housing that are prevalent in Danville include row houses and other attached homes ( 27.33%), duplexes, homes converted to apartments or other small apartment buildings ( 19.11%), and a few large apartment complexes or high rise apartments ( 8.10%).

People in Danville primarily live in small (one, two or no bedroom) single-family detached homes. Danville has a mixture of owner-occupied and renter-occupied housing.

The housing in Danville was primarily built before 1939 ( 48.16%), 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 ( 24.84%), followed by between 1970-1999 ( 21.97%). There's also some housing in Danville built between 2000 and later ( 5.03%).

Vacant housing appears to be an issue in Danville. Fully 10.43% 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

Appreciation rates for homes in Danville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.76%, which ranks in the top 30% nationwide. This equates to an annual average Danville house appreciation rate of 1.12%.

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 6.61%, which is higher than appreciation rates in 78.69% 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 1.70%, which equates to an annual appreciation rate of 6.98%.

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 90% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$115,437

Danville, PA HOME PRICES

Value Range
> $1,085,000 0.0
$814,001 - $1,085,000 0.0
$543,001 - $814,000 0.0
$434,001 - $543,000 0.0
$325,001 - $434,000 0.8
$217,001 - $325,000 7.4
$108,001 - $217,000 48.5
$54,001 - $108,000 33.8
$0 - $54,000 9.5

Low for PA
Low for Nation

Value Relative to Nation Value Relative to State
68.0124223602485 65.4106280193237

Number Of Homes And Apartments:
2,189

Danville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
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
53.70% 2.52% 7 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,007 / per month

Homeownership Rate

Homeownership
Owners 46.23
Renters 53.77
Vacant 10.43

Housing Market Details

 

Age of Homes

AGE OF Danville HOMES
2000 or Newer 5.0
1970 - 1999 22.0
1940 - 1969 24.8
1939 or Older 48.2

Types of Homes

TYPE OF Danville HOMES
Single-Family 42.1
Townhomes 27.3
Small Apt. Buildings 19.1
Apt. Complexes 8.1
Mobile Homes 3.4
Other 0.0

Home Size

SIZE OF Danville HOMES
No Bedroom 0.45
1 Bedroom 20.13
2 Bedrooms 33.84
3 Bedrooms 38.42
4 Bedrooms 5.93
5 or more bedrooms 1.23