Danville Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Danville, VA (the Danville metro area) was $696 in 2019 according to the Census ACS survey.1 Average gross rent in Danville was $646 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Danville median and average rent data will be released in September of 2021.
Data is also available below for Danville rental vacancy rates, Danville rent as a percent of median income and the fraction of renters in Danville.
Real Gross Rent in Danville Virginia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Virginia Median Gross Rent | $1,254 | +1.37% | +3.29% |
| Danville, VA Median Gross Rent | $696 | -3.06% | — |
Danville, VA Real Gross Rent Trends
Median gross rent for Danville peaked in real terms in 2018 at $718 and is now $22 (3.06%) lower. Average gross rent for Danville peaked in real terms in 2018 at $719 and is now $73 (10.15%) lower.
Real Gross Rent in Danville: Danville VA Median, Danville VA Average, Virginia Median, US Median
Real Gross Rent History for Danville
| Date | US Median |
Virginia Median |
Danville, VA Median |
Danville, VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $696 | $646 |
| 2018 | $1,077 | $1,237 | $718 | $719 |
| 2017 | $1,043 | $1,216 | — | — |
| 2016 | $1,027 | $1,214 | — | — |
| 2015 | $1,017 | $1,214 | — | — |
| 2014 | $986 | $1,178 | — | — |
| 2013 | $953 | $1,144 | $601 | $581 |
| 2012 | $940 | $1,136 | $633 | $608 |
| 2011 | $941 | $1,147 | $644 | $603 |
| 2010 | $955 | $1,139 | $622 | $630 |
| 2009 | $960 | $1,127 | $701 | $642 |
| 2007 | $927 | $1,048 | $619 | $599 |
| 2005 | $910 | $1,015 | $621 | $575 |
Danville Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Danville Virginia was 4.87% according to Census ACS data.
Rental Vacancy Rate in Danville Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Danville, VA | 4.87% | -4.36% | — |
Trends in Danville, VA Rental Vacancy Rate
The rental vacancy rate in Danville peaked in 2008 at 12.33%. Since then it has fallen by 7.46% to 4.87%. Data records for this series originated in 2005.
Rental Vacancy Rate: Danville VA, Virginia, US
Historical Rental Vacancy Rate data for Danville
| Date | US | Virginia | Danville, VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | 4.87% |
| 2018 | 6.15% | 5.17% | 9.23% |
| 2017 | 6.18% | 6.45% | — |
| 2016 | 5.89% | 5.59% | — |
| 2015 | 5.85% | 5.13% | — |
| 2014 | 6.32% | 5.79% | — |
| 2013 | 6.49% | 6.38% | — |
| 2012 | 6.77% | 6.18% | 7.13% |
| 2011 | 7.40% | 7.54% | 10.50% |
| 2010 | 8.17% | 7.02% | — |
| 2009 | 8.43% | 7.29% | 8.23% |
| 2007 | 7.87% | 7.11% | 5.63% |
| 2005 | 7.74% | 7.20% | 6.22% |
Rent as a Fraction of Income
Using median household income data for Danville, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Danville, median monthly gross rent as a fraction of median household income was 18.17% in 2019 according to the ACS.
Danville Virginia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Virginia | 19.68% | -0.41% | -0.74% |
| Danville, VA | 18.17% | -3.24% | — |
Trends in Danville, VA Rent as a Fraction of Income
The fraction of median Danville household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 21.41%. Since then it has fallen by 3.24% to 18.17%.
Fraction of Income towards Rent: Danville VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Danville Virginia
| Date | US | Virginia | Danville, VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 18.17% |
| 2018 | 20.50% | 20.09% | 21.41% |
| 2017 | 20.13% | 19.78% | — |
| 2016 | 20.43% | 20.42% | — |
| 2015 | 20.63% | 20.72% | — |
| 2014 | 20.89% | 20.63% | — |
| 2013 | 20.78% | 20.80% | 19.43% |
| 2012 | 20.65% | 20.76% | 18.75% |
| 2011 | 20.70% | 20.59% | 19.38% |
| 2010 | 20.50% | 20.15% | 18.59% |
| 2009 | 20.12% | 20.00% | 21.39% |
| 2007 | 18.66% | 17.97% | 19.03% |
| 2005 | 18.89% | 17.96% | 17.60% |
Renter Fraction in Danville Virginia
You can calculate the renter fraction in Danville in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Danville as a fraction of total Danville households. In 2019 37.21% of households were renters according to Census ACS data.
Danville Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Virginia | 33.87% | -0.21% | -0.84% |
| Danville, VA | 37.21% | +4.31% | — |
Trends in the Danville, VA Renter Fraction
At 37.21%, the 2019 household based renter fraction in Danville was at its highest level. The origin year for the series is 2005.
Fraction of Renting Households: Danville VA, Virginia, US
History of Danville Renter Fraction
| Date | US | Virginia | Danville, VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 37.21% |
| 2018 | 36.05% | 34.08% | 32.90% |
| 2017 | 36.13% | 33.43% | — |
| 2016 | 36.88% | 34.71% | — |
| 2015 | 36.97% | 34.99% | — |
| 2014 | 36.90% | 34.67% | — |
| 2013 | 36.50% | 34.38% | 32.43% |
| 2012 | 36.09% | 33.84% | 31.06% |
| 2011 | 35.42% | 32.67% | 30.60% |
| 2010 | 34.65% | 32.33% | 29.56% |
| 2009 | 34.13% | 31.87% | 33.28% |
| 2007 | 32.80% | 30.49% | 29.98% |
| 2005 | 33.10% | 30.36% | 30.33% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
