The story of this market
The typical home in ZIP 24540 sells for about $130,000, or $105 per square foot.
Prices are up +2.4% from a year ago, so sellers still have some momentum. Homes take about 35 days to sell. HUD's fair market rent for a two-bedroom is $950 a month.
ZIP 24540 — Danville
The housing market in 24540 is showing signs of stability with modest price appreciation and steady sales activity. Growth is being driven by local revitalization efforts and new commercial developments, though the market remains sensitive to broader economic conditions. Some figures, such as specific months of supply and price cut percentages, were not explicitly published for this ZIP and are omitted.
This ZIP is well-suited for budget-conscious family buyers and local workers seeking proximity to the city's employment core. It is less attractive to luxury investors but offers opportunities for those looking for value-add properties in a transitioning market.
Median prices moved up 2.4% year over year.
Homes spend a median of 35 days on market with 4.2 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 96.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 6.2% · poverty 19.8% — a mixed stability profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 2.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net outflow — more people moved out than in
ZCTA 24540, Danville VA
Crime rates in Danville are generally higher than the national average, with property crime being the most frequently reported issue. Local law enforcement continues to focus on community-based initiatives to address these trends.
Schools in the area are primarily served by Danville Public Schools, which face ongoing challenges regarding academic performance and resource allocation compared to state averages.
The area is subject to standard regional risks including seasonal severe thunderstorms and occasional flooding in low-lying areas near the Dan River. Property insurance remains available but premiums are sensitive to regional weather patterns.
Economic momentum is driven by the revitalization of the River District and the development of the Caesars Virginia casino resort. These projects are intended to anchor new commercial and hospitality growth in the city.
Property taxes are assessed by the City of Danville and Pittsylvania County based on fair market value. The city maintains a specific real estate tax rate that funds municipal services, with no additional MUD or PID districts commonly found in this jurisdiction.
Commuting is primarily car-dependent, with major corridors like US-29 and US-58 providing access to regional employment hubs. Public transit options are limited, consisting mainly of local bus services within the city limits.
Residents have access to the Dan River for water activities, the Riverwalk Trail for walking and cycling, and various city parks. Shopping and dining are concentrated in the downtown River District and along major commercial arteries.
The rental market is characterized by high demand for affordable housing, with a significant portion of the stock consisting of older single-family homes and small apartment complexes. Vacancy rates remain relatively low due to the limited supply of new multi-family construction.
The economy is transitioning from traditional manufacturing to a mix of healthcare, education, and tourism. Major employers include the regional hospital system and the growing hospitality sector.
The area is served by a network of state highways, with US-29 acting as the primary artery for regional travel. Public transportation is provided by the Danville Transit system.
Development is focused on the adaptive reuse of historic tobacco warehouses in the River District. These projects are converting industrial space into residential lofts and commercial storefronts.
Parcels are subject to city and county property taxes; there are no special utility or hospital districts that impose separate levies on residential properties.
Property insurance is generally available, though premiums are influenced by the area's exposure to severe weather events and the age of the housing stock.
Data retrieved from data.census.gov ZCTA 24540 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
A scenic multi-use trail along the Dan River.
Cultural anchor located in the historic district.
Large municipal park with sports facilities and picnic areas.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.