Danville, IL—61832
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Danville, IL
As of Nov '25, the median home price in Danville, IL is $59,000, with a year-over-year change of -4.8%. This indicates that home prices in Danville, IL are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $59,000 | -4.8% |
| Single Family | $58,000 | -6.5% |
| Condos | $126,000 | 12.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $53,000 | -5.4% |
3 Bed | $90,000 | 0.0% |
4 Bed | $124,000 | 0.8% |
| 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 $737, with a year-over-year rent change of -5.8%. Per bedroom, the median rent as of July '25 in Danville, IL is studios: $350, 1-bedrooms: $667, 2-bedrooms: $746, 3-bedrooms: $859, 4-bedrooms: $805. The most common rental property sizes in Danville, IL are 2-bedroom and 1-bedroom, accounting for 37.6% and 28.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $750 | $737 |
| Studio Rent | $350 | $350 |
| 1 Bed Rent | $675 | $667 |
| 2 Bed Rent | $750 | $746 |
| 3 Bed Rent | $895 | $859 |
| 4 Bed Rent | $850 | $805 |
% of Rental Stock
Property Listings — Danville, IL
As of Nov '25, Realtor.com reports that the median days on market for a home in Danville, IL is 59. This is a increase of 7.0% 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 19.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $92,400 | -31.0% |
Listing Count | 63 | -31.0% |
| Listings as % of Homes | 0.5% | -31.0% |
Days on Market | 59 | 7.0% |
Demographics — Danville, IL
As of the latest ACS Survey released in 2023, Danville, IL has a population of 32,300, which has decreased by -7.5% over the past 5 years. Danville, IL is a popular place for families, as children make up 25.3% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,300 | -7.5% |
% Under 18 | 25.3% | -2.7% |
% Seniors | 19.7% | 10.1% |
% WFH | 6.2% | 59.0% |
% w/ College Degree | 17.2% | 13.2% |
As of the latest ACS Survey released in 2023, Danville, IL is a predominantly white area, with 61.3% of the population identifying as white. The white population has shrunk by 5.0% in the last 5 years. The second most common race or ethnicity in Danville, IL is black, making up 28.8% of the population. Foreign-born residents account for 3.0% of the population in Danville, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 61.3% | -5.0% |
% Black | 28.8% | 7.1% |
% Hispanic | 6.3% | 16.7% |
% Asian | 1.6% | 33.3% |
% Foreign Born | 3.0% | 0.0% |
Mortgage and Risk — Danville, IL
According to HUD data as of 2023, there were 324 mortgage originations in Danville, IL, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 38.0% above 90% LTV (very high). This implies large mortgage risk in Danville, IL. Investor activity is low, as 7.0% 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 | 324 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 7.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Rentals and Section 8 — Danville, IL
As of 2024, the percent of homes in Danville, IL under the Section 8 program is 29.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Danville, IL, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 2,086 |
Total Units Section 8 | 1,670 |
% Rentals under Section 8 | 29.1% |
% Occupied Section 8 | 73.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $95 | $675 | $770 |
| 2 Bedroom | $260 | $750 | $1,010 |
| 3 Bedroom | $335 | $895 | $1,230 |
| 4 Bedroom | $510 | $850 | $1,360 |
Affordability — Danville, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.3 |
| Median Home Price | $59,000 |
| Median Household Income | $45,300 |