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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Danville, KY Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Danville, KY Housing Market Trends

With a population of 17,303, 6,663 total housing units (homes and apartments), and a median house value of $332,851, Danville real estate is some of the most expensive in Kentucky, although Danville home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Danville, accounting for 66.03% of the city's housing units. Other types of housing that are prevalent in Danville include duplexes, homes converted to apartments or other small apartment buildings ( 17.79%), large apartment complexes or high rise apartments ( 10.24%), and a few mobile homes or trailers ( 3.10%).

The most prevalent building size and type in Danville are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 50.48% owning and 49.52% 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 ( 24.73%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.95%). There's also some housing in Danville built before 1939 ( 13.20%).

Danville Home Appreciation Rates

Real estate appreciation rates in Danville's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.32% during the period.

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 8.26%, which is higher than appreciation rates in 72.73% 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 1.84%, which equates to an annual appreciation rate of 7.57%.

Relative to Kentucky, our data show that Danville's latest annual appreciation rate is higher than 80% of the other cities and towns in Kentucky.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Danville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Danville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Danville real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$332,851

Danville, KY Home Prices
> $1,448,000
$1,086,001 - $1,448,000
$724,001 - $1,086,000
$579,001 - $724,000
$434,001 - $579,000
$290,001 - $434,000
$145,001 - $290,000
$73,001 - $145,000
$0 - $73,000
0.5%
0.5%
2.1%
2.1%
1.8%
1.8%
7.8%
7.8%
9.7%
9.7%
25.0%
25.0%
37.9%
37.9%
10.7%
10.7%
4.4%
4.4%
0% 100.0%
% of Homes
Very High

for Kentucky

High

for nation

Number of Homes And Apartments:

6,663

Danville Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,338 / per month

Homeownership Rate

Owners
Renters
50.5%
50.5%
49.5%
49.5%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.7%
7.7%
92.3%
92.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
18.0%
18.0%
44.1%
44.1%
24.7%
24.7%
13.2%
13.2%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
66.0%
66.0%
2.8%
2.8%
17.8%
17.8%
10.2%
10.2%
3.1%
3.1%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
1.7%
1.7%
5.6%
5.6%
31.1%
31.1%
43.2%
43.2%
15.3%
15.3%
3.2%
3.2%
0% 100.0%
% of Homes