Danville, IL—61833
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 $71,000, with a year-over-year change of 11.5%. This indicates that home prices in Danville, IL are increasing. According to Zillow, the 1-year price projection is -1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $71,000 | 11.5% |
| Single Family | $71,000 | 12.7% |
| 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 $1,110, with a year-over-year rent change of 43.2%. Per bedroom, the median rent as of July '25 in Danville, IL is 2-bedrooms: $1,100, 3-bedrooms: $1,110. The most common rental property sizes in Danville, IL are 2-bedroom and 1-bedroom, accounting for 41.8% and 37.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,110 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,100 | $1,100 |
| 3 Bed Rent | $975 | $1,110 |
| 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 19. This is a decrease of -84.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $79,500 | 32.0% |
Listing Count | 7 | 30.0% |
| Listings as % of Homes | 0.6% | 30.0% |
Days on Market | 19 | -84.0% |
Demographics — Danville, IL
As of the latest ACS Survey released in 2023, Danville, IL has a population of 1,730, which has decreased by -21.3% over the past 5 years. Danville, IL is a less popular place for families, as children make up 13.6% of the population. The area has a poorly educated workforce, with 6.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,730 | -21.3% |
% Under 18 | 13.6% | -47.3% |
% Seniors | 22.5% | 2.7% |
% WFH | 8.0% | 627.3% |
% w/ College Degree | 6.9% | -8.0% |
As of the latest ACS Survey released in 2023, Danville, IL is a predominantly white area, with 93.4% of the population identifying as white. The white population has grown by 2.6% in the last 5 years. The second most common race or ethnicity in Danville, IL is hispanic, making up 6.1% of the population. Foreign-born residents account for 0.0% of the population in Danville, IL, and this percentage has decreased by 100.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 93.4% | 2.6% |
% Black | 0.5% | ∞% |
% Hispanic | 6.1% | -19.7% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Danville, IL
According to HUD data as of 2023, there were 60 mortgage originations in Danville, IL, of which 70.0% of loans were conventional mortgages. The average loan-to-value was 87.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Danville, IL. Investor activity is low, as 10.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 60 |
% Conventional Loans | 70.0% |
% Government Loans | 30.0% |
% Investor Loans | 10.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
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 | 9 |
Total Units Section 8 | 9 |
% Rentals under Section 8 | 5.7% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $750 |
| 2 Bedroom | -$120 | $1,100 | $980 |
| 3 Bedroom | $225 | $975 | $1,200 |
| 4 Bedroom | N/A | N/A | $1,320 |
Affordability — Danville, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.3 |
| Median Home Price | $71,000 |
| Median Household Income | $47,300 |