Danville, IL—61817
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Danville, IL
As of Oct '25, the median home price in Danville, IL is $158,000, with a year-over-year change of 9.2%. This indicates that home prices in Danville, IL are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $158,000 | 9.2% |
| Single Family | $158,000 | 9.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Danville, IL
As of July '25, Rentcast reports the average rent in Danville, IL is $1,010, with a year-over-year rent change of 44.3%. Per bedroom, the median rent as of July '25 in Danville, IL is 2-bedrooms: $843, 3-bedrooms: $2,180. The most common rental property sizes in Danville, IL are 2-bedroom and 3-bedroom, accounting for 67.0% and 31.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $850 | $1,010 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $850 | $843 |
| 3 Bed Rent | $2,180 | $2,180 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Danville, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Danville, IL is 32. This is a decrease of -30.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 44.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $130,000 | 7.0% |
Listing Count | 9 | -8.0% |
| Listings as % of Homes | 0.9% | -8.0% |
Days on Market | 32 | -30.0% |
Demographics — Danville, IL
As of the latest ACS Survey released in 2023, Danville, IL has a population of 2,450, which has decreased by -2.7% over the past 5 years. Danville, IL is a moderately popular place for families, as children make up 17.6% of the population. The area has a moderately educated workforce, with 26.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,450 | -2.7% |
% Under 18 | 17.6% | -19.6% |
% Seniors | 20.4% | -11.7% |
% WFH | 8.7% | 262.5% |
% w/ College Degree | 26.9% | 3.1% |
As of the latest ACS Survey released in 2023, Danville, IL is a predominantly white area, with 92.2% of the population identifying as white. The white population has shrunk by 6.8% in the last 5 years. The second most common race or ethnicity in Danville, IL is hispanic, making up 6.5% of the population. Foreign-born residents account for 3.6% of the population in Danville, IL, and this percentage has increased by 157.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 92.2% | -6.8% |
% Black | 1.1% | ∞% |
% Hispanic | 6.5% | 490.9% |
% Asian | 0.0% | N/A |
% Foreign Born | 3.6% | 157.1% |
Mortgage and Risk — Danville, IL
According to HUD data as of 2023, there were 62 mortgage originations in Danville, IL, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 81.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Danville, IL. Investor activity is low, as 8.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 62 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 8.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Danville, IL
Danville, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 2 |
Total Units Section 8 | 2 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $840 |
| 2 Bedroom | $250 | $850 | $1,100 |
| 3 Bedroom | -$840 | $2,180 | $1,340 |
| 4 Bedroom | N/A | N/A | $1,480 |
Affordability — Danville, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2 |
| Median Home Price | $158,000 |
| Median Household Income | $68,400 |