Quick facts: Danville, IL

Quick Facts

102.4
Cost of Living
above US average
28,472
Population
65.78
Crime Rate per 1000
above US average
$42,424
Median Income
below US average
$79,900
Median House Price
above US average
$814.11
Average Rent
below US average
20%
Poverty Rate
above US average
8.6%
Unemployment Rate
above US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $42,424.

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Income Needed to Buy

βœ“ Affordable
$25k/year
Based on $79,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($42,424) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$35k/year
Based on $814.11/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($42,424) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Danville, IL

Danville is a city located in Vermilion County, Illinois, with a rich history and a population of approximately 30,000 residents. It sits strategically near the Vermilion River and is known for its charming small-town atmosphere combined with the amenities of urban life. The city serves as a regional center for commerce and education in east-central Illinois. Danville boasts numerous parks, including the expansive Danville Rails-to-Trails, which provides trails for walking and biking. The city is also home to the Danville Area Community College, which contributes to the educational landscape and offers various programs and training. Culturally, Danville features several historic sites, such as the Vermilion County Museum and the Danville Symphony Orchestra, fostering a vibrant arts scene. The community enjoys numerous annual events that promote local engagement and tourism. Economically, Danville has a diverse base that includes healthcare, education, and manufacturing. Its location near major highways facilitates easy access to larger cities like Champaign-Urbana and Indianapolis. Overall, Danville is a welcoming city that combines historical significance with modern conveniences.

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