Danville city, Virginia Housing Market
In Danville city, Virginia, the median home value is $119,100, with a median monthly rent of $836. This places Danville city at #2654 nationally out of 3134 counties by median home value, and #125 within Virginia.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $972
- Establishments: 1,755
- BLS QCEW, 2025
Housing Supply
- Single-family: 12
- Multi-family: 2
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 15,590 (avg $53,722)
- Outflow: 14,676 (avg $54,688)
- IRS Statistics of Income
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| Metric | Danville city | Virginia Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $119,100 | $295,807 | $227,706 |
| Median Gross Rent | $836 | $1,169 | $968 |
| Owner Occupancy Rate | 47.8% | 70.8% | 73.3% |
| Price/Rent Ratio | 11.9 | 20.3 | 18.7 |
Market Analysis
The median home value in Danville city is 59.7% below the Virginia state average and 47.7% below the U.S. national average. The median rent of $836/month is 28.5% below the state average.
With a price-to-rent ratio of 11.9, buying a home in Danville city is generally more favorable than renting for those planning to stay long-term. A ratio below 15 typically signals that purchasing is financially advantageous over a multi-year horizon.
Danville city has an owner-occupancy rate of 47.8%, compared to 70.8% in Virginia and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Ellis County | Oklahoma | $119,100 | $815 |
| Hutchinson County | Texas | $119,100 | $932 |
| Russell County | Kansas | $119,000 | $805 |
| Hertford County | North Carolina | $119,200 | $844 |
| Pembina County | North Dakota | $119,200 | $684 |
Other Counties in Virginia
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Wise County | $118,600 | $790 | 74.2% |
| Tazewell County | $118,300 | $795 | 74.4% |
| Russell County | $120,600 | $653 | 76.3% |
| Alleghany County | $125,800 | $765 | 82.3% |
| Norton city | $110,000 | $692 | 50.0% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).