Average Rent in Danville, IL↑ Rents rising 4.7% YoY
HUD FY2025 · Official government data · Updated annually · Metro pop. 73,179
Market Overview
Danville, IL has rental prices ranging from $686/month to $1,351/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $763/month — 45% below the national average of $1,400/month. With a median household income of $54,537/year, spending $763/month on a 1-bedroom represents 17% of gross income — within the recommended 30% threshold.
How Danville Compares
With an average 2-bedroom rent of $1,001/month, Danville ranks #16 most expensive of the 87 cities tracked in Illinois — pricier than 65% of all US cities in our data.
The Danville Rental Market
The Danville, IL area has a population of about 73,179 and 31% of households renting rather than owning. That is close to the US average renter share of ~34%.
Rent Trends
2-bedroom rents in Danville, IL have risen by $45/month (4.7%) over the past year, from $956 to $1,001. This modest growth is consistent with broader inflationary trends seen across US rental markets.
Affordability
To afford a 1-bedroom apartment in Danville, IL without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $30,520. The local median household income of $54,537 exceeds that threshold by $24,017, making Danville relatively accessible compared to local wages.
Rent vs. Buy
The median home value in Danville, IL is $79,717, giving a price-to-rent ratio of 6.6. At this ratio, buyers who plan to stay 7 or more years may find purchasing more cost-effective than renting at current market prices.
Neighborhoods
Home values — and by extension rent levels — vary significantly across Danville's neighborhoods. Among the highest-value areas are Oaklawn Fairweight ($27,916 median home value), Center City ($40,710 median home value), Rabbittown ($43,523 median home value). Rental prices typically follow home value patterns, with premium neighborhoods commanding higher rents than outer areas. Renters on a tighter budget may find better value in less central neighborhoods or in adjacent metros with lower overall rent levels.
Fair Market Rents
HUD FY2025Is Danville, IL Affordable?
Income needed to rent or buy, price history, and how this city compares to nearby metros.
Affordability Index(30% income rule)
Nearby Cities in ILlargest metros in the state
| City | Studio | 1BR | 2BR | 3BR | Home Value |
|---|---|---|---|---|---|
| DeKalb County | $952 | $1,058 | $1,388 | $1,891 | — |
| Grundy County | $1,045 | $1,151 | $1,510 | $1,999 | — |
| Chicago | $1,458 | $1,560 | $1,761 | $2,262 | — |
| Kendall County | $1,428 | $1,438 | $1,886 | $2,643 | — |
| St. Louis | $951 | $984 | $1,215 | $1,570 | — |
| Davenport | $707 | $831 | $1,025 | $1,336 | — |
Rent or Buy in Danville?
Break-even analysis and mortgage estimates based on local market data.
Should I Rent or Buy?
Break-even analysis using real Danville data
Buying breaks even after 1 year — worth it if you stay 1+ years.
Mortgage Calculator
Estimate monthly payment for $79,717 home at 7% rate
Living in Danville
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Frequently Asked Questions
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