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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 652, 280 total housing units (homes and apartments), and a median house value of $147,230, 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 41.31% of the town's housing units. Other types of housing that are prevalent in Danville include mobile homes or trailers ( 25.07%), large apartment complexes or high rise apartments ( 20.51%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 10.54%).
The most prevalent building size and type in Danville are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 42.54% owning and 57.46% renting.
There is a lot of housing in Danville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Danville built between 1940-1969 ( 25.64%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.38%). There's also some housing in Danville built before 1939 ( 5.70%).
Vacant housing appears to be an issue in Danville. Fully 20.23% 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.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Danville, where house values have increased just 48.90%, which is annualized rate of 4.06%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
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 10.66%, which is higher than appreciation rates in 89.93% 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 -3.71%, which equates to an annual appreciation rate of -14.04%.
Notably, Danville's appreciation rate in the latest quarter is one of the lowest in America.
Relative to West Virginia, our data show that Danville's latest annual appreciation rate is lower than 60% of the other cities and towns in West Virginia.
$147,230
for West virginia
for nation
280
$1,354 / per month