Cost of Living in Danville, IA

With a cost of living index of 69, Danville, IA is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and in line with the Iowa state average. Danville is a small community of 966 residents.

Housing costs are the biggest factor in Danville's cost of living. The median monthly rent is $817 (38% below the US median of $1,319), and the median home value sits at $148,600 (51% below the national median of $304,900). At current prices, the median home costs roughly 1.8x the median household income — well within traditional affordability guidelines.

The median household income in Danville is $82,917, which is 10% higher than the national median of $75,149. Residents spend roughly 12% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.