Real Estate Appreciation for Danville, Illinios: + 16.12%
Appreciation for MSAs:.
The state appreciation level can be a good benchmark for comparing an individual MSAs perfomance.
If we analyze Danville, Illinios MSA appreciation it was + 16.12% (+ 4.03% yearly) from 1994 to 1997.
During the same time period, IL had + 13.88% (+ 3.47% yearly).
You can see that the Danville, Illinios MSA experienced higher appreciation in this case.
Danville-IL
| Year | Quarter | Price Index | Quarter Increase or Decrease | Annualized |
| 1994 | 2 | 101.36 | - 1.31% | - 5.26% |
| 1994 | 3 | 100.69 | - 0.66% | - 2.64% |
| 1994 | 4 | 102.78 | + 2.08% | + 8.30% |
| 1995 | 1 | 100 | - 2.70% | - 10.82% |
| 1995 | 2 | 107.21 | + 7.21% | + 28.84% |
| 1995 | 3 | 102.85 | - 4.07% | - 16.27% |
| 1995 | 4 | 107.23 | + 4.26% | + 17.03% |
| 1996 | 1 | 115.09 | + 7.33% | + 29.32% |
| 1996 | 2 | 113.57 | - 1.32% | - 5.28% |
| 1996 | 3 | 113.56 | - 0.01% | - 0.04% |
| 1996 | 4 | 116.75 | + 2.81% | + 11.24% |
| 1997 | 1 | 118.4 | + 1.41% | + 5.65% |
| 1997 | 2 | 116.71 | - 1.43% | - 5.71% |
| 1997 | 3 | 117.29 | + 0.50% | + 1.99% |
| 1997 | 4 | 119.27 | + 1.69% | + 6.75% |
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If you were going to do a Rankin, Illinios Refinance, or Rankin, Illinios Reverse Mortgages, you could estimate your home value.
If you knew your Rankin, Illinios home was worth $91,000.00 in 1994, you could multiply by + 16.12%, add the gain and see the home should be worth $105,671.99 in 1997. Home value is an important part of every mortgage transaction.
Average YEARLY Real Estate Appreciation for Danville-IL from 1994 to 1997:
+ 4.03%
Appreciation Comparisons
Here are a some MSAs that didn't do so well, this can give you an idea of a worst case scenario:.
Zip Code in MSA: 60960 - RANKIN, IL
MSA Pop: 82804Zip Pop: 1108
Avg Value: 52500
County: VERMILION
Elev: 597
Region: Midwest
Lat: 40.463682
Long: -87.896365