Danville, Virginia Housing Market Prices
Danville Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 75% below the Virginia median$63,642
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Median rent 47% below the Virginia median$836
Housing Market Overview
| Metric | Danville | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,642 | $256,082 | $248,835 |
| Price Trend (Annual %) | 4.8% | 3.5% | 7.5% |
| Median Gross Rent | $836 | $1,579 | $1,407 |
| Rent Trend (Annual %) | 4.2% | 4.2% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Danville is about 75% lower than in Virginia. Rent is about 47% lower than the Virginia average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Danville, up about 4.8% and 4.2% a year respectively. Home prices are changing faster.
Median rent in Danville rose about 39.0% between 2015 and 2024, from $601 to $836. Over the same span, rent in Virginia rose about 41.5%.
Affordability
On average, housing unit costs 1.4 yearly household incomes in Danville.
Buying the median-priced home in Danville costs roughly 6.3 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Danville. The price-to-rent ratio in Virginia is about 13.5.
| Metric | Danville | Virginia Avg | US Average |
|---|---|---|---|
| Median Home Price | $63,642 | $256,082 | $248,835 |
| Median Household Income | $44,655 | $93,527 | $80,455 |
| Price-to-Income Ratio | 1.4 | 2.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Danville fell about 9.2%, while median household income rose about 43.8% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Danville | Virginia Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 40.7% | 61.5% | 58.5% |
| Rental Rate | 44.5% | 29.8% | 31.2% |
| Vacancy Rate | 14.8% | 8.7% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Danville has a homeownership rate of 40.7%, lower than the Virginia average of 61.5%. Its housing vacancy rate is 14.8%, compared with 8.7% in Virginia.
Housing Stock
| Metric | Danville | Virginia Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.13 people | 2.52 people | 2.53 people |
| Median Structure Built Year | 1961 | 1982 | 1978 |
| Median Number of Rooms | 4.8 | 6.0 | 5.5 |
The typical housing unit in Danville was built around 1961. On average, 2.1 people live in a home with about 4.8 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Danville, Virginia.
What is the median home price in Danville, Virginia?
The median home price in Danville, Virginia is $63,642, lower than the Virginia average of $256,082.
What is the average home price in Danville, Virginia?
The typical home price in Danville, Virginia, reported as the median sale price, is $63,642. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Danville, Virginia?
The median gross rent in Danville, Virginia is $836 per month, lower than the Virginia average of $1,579.
What was the median gross rent in Danville in 2020?
In 2020, the median gross rent in Danville, Virginia was $687 per month.
What is the price-to-rent ratio in Danville, Virginia?
The price-to-rent ratio in Danville, Virginia is about 6.3, meaning it would take roughly 6.3 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Danville.
Are home prices or rent rising faster in Danville, Virginia?
Both home prices and rent are rising in Danville, up about 4.8% and 4.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Danville, Virginia?
40.7% of households in Danville, Virginia own their home, lower than the Virginia average of 61.5%.
What is the vacancy rate in Danville, Virginia?
The housing vacancy rate in Danville, Virginia is 14.8%, higher than the Virginia average of 8.7%.
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