Department of Numbers

Danville Illinois Residential Rent and Rental Statistics

The median monthly gross residential rent in Danville, IL (the Danville metro area) was $636 in 2016 according to the Census ACS survey.1 Average gross rent in Danville was $618 in 2016. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2017 Danville median and average rent data will be released in September of 2018.

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.

Show dollars as: Nominal Real

Real Gross Rent in Danville Illinois (2016 dollars)2

2016 1 Year Change 3 Year Change
US Median Gross Rent $981 +0.93% +7.80%
Illinois Median Gross Rent $950 +0.21% +6.74%
Danville, IL Median Gross Rent $636 -3.20% +7.80%

Danville, IL Real Gross Rent Trends

Median gross rent for Danville peaked in real terms in 2007 at $662 and is now $26 (3.93%) lower. From a recent low of 590.0 in 2013, real median gross rent has now increased by $46 (7.80%). Average gross rent for Danville peaked in real terms in 2015 at $652 and is now $34 (5.21%) lower.

Real Gross Rent in Danville: Danville IL Median, Danville IL Average, Illinois Median, US Median

Lower quartile, median and upper quartile real gross rent

Real Gross Rent History for Danville

Date US
Median
Illinois
Median
Danville, IL
Median
Danville, IL
Average
2016 $981 $950 $636 $618
2015 $972 $948 $657 $652
2014 $942 $912 $630 $579
2013 $910 $890 $590 $555
2012 $898 $882 $619 $591
2011 $898 $886 $635 $623
2010 $912 $905 $649 $617
2009 $916 $901 $601 $529
2008 $932 $917 $655 $573
2007 $885 $879 $662 $596
2006 $895 $892 $647 $602
2005 $869 $876 $641 $571

Danville Rental Vacancy Rate

The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2016 the rental vacancy rate for Danville Illinois was 7.37% according to Census ACS data.

Rental Vacancy Rate in Danville Illinois

2016 1 Year Change 3 Year Change
US 5.89% +0.04% -0.60%
Illinois 6.01% -0.20% -0.15%
Danville, IL 7.37% -0.25% -9.85%

Trends in Danville, IL Rental Vacancy Rate

The rental vacancy rate in Danville peaked in 2013 at 17.22%. Since then it has fallen by 9.85% to 7.37%. Data records for this series originated in 2005.

Rental Vacancy Rate: Danville IL, Illinois, US

Rental vacancy rate in Illinois

Historical Rental Vacancy Rate data for Danville

Date US Illinois Danville, IL
2016 5.89% 6.01% 7.37%
2015 5.85% 6.21% 7.62%
2014 6.32% 6.53% 9.04%
2013 6.49% 6.16% 17.22%
2012 6.77% 6.39%
2011 7.40% 7.35% 12.87%
2010 8.17% 7.66% 13.14%
2009 8.43% 7.84% 11.61%
2008 7.86% 6.87%
2007 7.87% 7.69%
2006 7.70% 8.69% 15.68%
2005 7.74% 9.45%

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 16.78% in 2016 according to the ACS.

Danville Illinois Median Annual Rent as a Fraction of Median Household Income

2016 1 Year Change 3 Year Change
US 20.43% -0.20% -0.35%
Illinois 18.70% -0.15% -0.19%
Danville, IL 16.78% -0.49% +1.16%

Trends in Danville, IL Rent as a Fraction of Income

The fraction of median Danville household income required to pay median monthly gross rent peaked in 2010 (relative to the 2005 series origin) at 19.12%. Since then it has fallen by 2.34% to 16.78%. From a 2013 low of 15.62%, the fraction of income going to rent has increased by 1.16%.

Fraction of Income towards Rent: Danville IL, Illinois, US

Percent of median household income going towards median monthly gross rent in Danville Illinois

Historical Data for Annual Rent as a Fraction of Income in Danville Illinois

Date US Illinois Danville, IL
2016 20.43% 18.70% 16.78%
2015 20.63% 18.85% 17.27%
2014 20.89% 18.91% 17.99%
2013 20.78% 18.89% 15.62%
2012 20.65% 18.89% 18.13%
2011 20.70% 19.36% 18.09%
2010 20.50% 19.21% 19.12%
2009 20.12% 18.41% 18.92%
2008 19.00% 17.31% 16.73%
2007 18.66% 17.36% 19.02%
2006 18.90% 17.56% 16.85%
2005 18.89% 17.52% 18.59%

Renter Fraction in Danville Illinois

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 2016 27.48% of households were renters according to Census ACS data.

Danville Fraction of Renters by Household Units

2016 1 Year Change 3 Year Change
US 36.88% -0.09% +0.38%
Illinois 34.74% +0.02% +0.68%
Danville, IL 27.48% -5.50% -0.48%

Trends in the Danville, IL Renter Fraction

The Danville household renter fraction peaked in in 2014 at 34.42% and is now 6.94% below that level. The origin year for the series is 2005.

Fraction of Renting Households: Danville IL, Illinois, US

Fraction of renters in Danville

History of Danville Renter Fraction

Date US Illinois Danville, IL
2016 36.88% 34.74% 27.48%
2015 36.97% 34.72% 32.98%
2014 36.90% 34.51% 34.42%
2013 36.50% 34.06% 27.96%
2012 36.09% 33.40% 30.14%
2011 35.42% 32.65% 29.84%
2010 34.65% 32.27% 30.16%
2009 34.13% 32.00% 31.51%
2008 33.36% 30.73% 26.72%
2007 32.80% 29.94% 28.42%
2006 32.73% 30.12% 28.67%
2005 33.10% 30.13% 30.66%

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.