Danville, VA

Population: 42,907
Average annual home appreciation rate: -0.06%
Total of homes for sale in this market: 319
Median home price: $84,314
Median Rent: $631 per room
Home price range: 40.64% of homes are between $48,001 – $96,000
Median sales price: NO DATA
Number of homes: 44
Median foreclosure sales price: NO DATA
Foreclosure discount: NO DATA
Most common home type: 69.10% of homes are SINGLE FAMILY DETACHED
Number of vacant homes: 16.72%
Number of renters: 45.38%
Number of owner occupied: 54.62%
Number people living below poverty level: 27.38%
Unemployment rate: 6.5%
Is this area perfect for real estate deals going on right now? With the history of positive appreciation in the Danville area, a rental property (based on the much higher than average rental rates) could be a profitable investment for the savvy buy and hold investor. High unemployment rates, and high poverty level in markets usually drive up the necessity for rental properties. Based on the multiple zombie (vacant) properties, a savvy investor that could turn these into rental properties could be taking advantage of an opportunity.

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