Danville, VA—24540
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Danville, VA
Home Price Trends — Danville, VA
As of Nov '25, the median home price in Danville, VA is $151,000, with a year-over-year change of -1.1%. This indicates that home prices in Danville, VA are decreasing. According to Zillow, the 1-year price projection is 3.7%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $151,000 | -1.1% |
| Single Family | $151,000 | -0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $91,000 | -3.2% |
3 Bed | $189,000 | 0.5% |
4 Bed | $235,000 | 2.2% |
| 5 Bed | $330,025 | 3.1% |
% of Housing Stock
Rental Trends — Danville, VA
As of July '25, Rentcast reports the average rent in Danville, VA is $1,050, with a year-over-year rent change of -2.8%. Per bedroom, the median rent as of July '25 in Danville, VA is 1-bedrooms: $761, 2-bedrooms: $904, 3-bedrooms: $1,310, 4-bedrooms: $1,380. The most common rental property sizes in Danville, VA are 2-bedroom and 3-bedroom, accounting for 46.1% and 30.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $930 | $1,050 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $761 |
| 2 Bed Rent | $875 | $904 |
| 3 Bed Rent | $1,280 | $1,310 |
| 4 Bed Rent | $1,380 | $1,380 |
% of Rental Stock
Property Listings — Danville, VA
As of Nov '25, Realtor.com reports that the median days on market for a home in Danville, VA is 73. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $170,000 | 10.0% |
Listing Count | 124 | 27.0% |
| Listings as % of Homes | 0.3% | 27.0% |
Days on Market | 73 | 19.0% |
Demographics — Danville, VA
As of the latest ACS Survey released in 2023, Danville, VA has a population of 31,500, which has increased by 2.8% over the past 5 years. Danville, VA is a moderately popular place for families, as children make up 20.6% of the population. The area has a poorly educated workforce, with 16.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 31,500 | 2.8% |
% Under 18 | 20.6% | 0.0% |
% Seniors | 23.1% | 9.5% |
% WFH | 7.6% | 322.2% |
% w/ College Degree | 16.5% | 4.4% |
As of the latest ACS Survey released in 2023, Danville, VA is a predominantly white area, with 50.1% of the population identifying as white. The white population has shrunk by 4.4% in the last 5 years. The second most common race or ethnicity in Danville, VA is black, making up 42.4% of the population. Foreign-born residents account for 2.4% of the population in Danville, VA, and this percentage has decreased by 7.7% 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 | 50.1% | -4.4% |
% Black | 42.4% | 2.7% |
% Hispanic | 3.8% | 31.0% |
% Asian | 0.8% | 0.0% |
% Foreign Born | 2.4% | -7.7% |
Mortgage and Risk — Danville, VA
According to HUD data as of 2023, there were 309 mortgage originations in Danville, VA, of which 62.0% of loans were conventional mortgages. The average loan-to-value was 70.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Danville, VA. Investor activity is low, as 7.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 309 |
% Conventional Loans | 62.0% |
% Government Loans | 38.0% |
% Investor Loans | 7.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 16.0% |
Rentals and Section 8 — Danville, VA
Danville, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,351 |
Total Units Section 8 | 1,213 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 85.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $40 | $650 | $690 |
| 2 Bedroom | -$25 | $875 | $850 |
| 3 Bedroom | -$120 | $1,280 | $1,160 |
| 4 Bedroom | -$70 | $1,380 | $1,310 |
Affordability — Danville, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $151,000 |
| Median Household Income | $47,200 |