Updated 2026 · Based on median market data for Danville, VA
The median monthly rent in Danville, VA is $1,150, translating to $13,800 in annual gross rental income per unit. The rent-to-price ratio is 0.72% — below the 1% rule but within a range where deals can work with good financing.
Renters in Danville spend approximately 24% of the local median household income ($57,250) on rent. This is well below the 30% threshold, suggesting significant headroom for rent increases. Tenants can afford to pay more, which is bullish for landlords.
The vacancy rate in Danville is 5.2%. This is a healthy vacancy rate that indicates balanced supply and demand. You should be able to find quality tenants without extended vacancies, though expect normal turnover periods of 2-4 weeks between tenants. Population growth of 0.7% annually provides stable demand.
Danville's GRM (price divided by annual rent) is 11.6x. A GRM under 12x is excellent — it means you're paying less than 12 years of gross rent for the property, suggesting strong income relative to price. For comparison, the national average GRM for investment-grade rentals is approximately 13-15x.
At the median rent of $1,150/mo, a single-family rental in Danville generates approximately $13,800 in gross annual income. After accounting for 5.2% vacancy ($718 lost), property taxes of $1,376, insurance (~$640), and maintenance (~$640), the estimated NOI is $10,426 per year, or $869/mo.
Danville vs Virginia state average and national average across key investment metrics. Danville outperforms both benchmarks on cap rate.