Appreciation for MSAs:.

Before we disect the appreciation within the MSA for this period, lets consider how Danville, Illinios did compared to the state as a whole.

The Danville, Illinios MSA property value change was + 10.29% (+ 2.57% yearly).

All of the property in IL averaged + 18.03% change in value (+ 4.51% yearly).

Danville-IL

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
1997 2 116.71 - 1.43% - 5.71%
1997 3 117.29 + 0.50% + 1.99%
1997 4 119.27 + 1.69% + 6.75%
1998 1 121.76 + 2.09% + 8.35%
1998 2 121.73 - 0.02% - 0.10%
1998 3 121.97 + 0.20% + 0.79%
1998 4 125.54 + 2.93% + 11.71%
1999 1 127.08 + 1.23% + 4.91%
1999 2 131 + 3.08% + 12.34%
1999 3 128.95 - 1.56% - 6.26%
1999 4 121.18 - 6.03% - 24.10%
2000 1 122.14 + 0.79% + 3.17%
2000 2 126.2 + 3.32% + 13.30%
2000 3 130.46 + 3.38% + 13.50%
2000 4 130.58 + 0.09% + 0.37%


Now is a great time to buy and fix up real estate in many areas. Foreclosures are on the rise so there are deals to be had. If you are considering purchasing and rehabbing a property, appreciation rates are important to consider. If you feel like this is a good area to purchase foreclosure property for rehab, check out Hard Money Rehab Loan Information at Spec-Loan.com. Its important to do your homework before taking on any type of real estate purchase.

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 $97,000.00 in 1997, you could multiply by + 10.29%, add the gain and see the home should be worth $106,978.55 in 2000. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Danville-IL from 1997 to 2000:
+ 2.57%

Appreciation Comparisons

The top 5 performing MSAs from 1997 to 2000 were San-Jose-Sunnyvale-Santa-Clara-CA, Santa-Cruz-Watsonville-CA, Santa-Rosa-Petaluma-CA, Salinas-CA, and Napa-CA .

  1. San-Jose-Sunnyvale-Santa-Clara-CA increased + 82.37% from 1997 to the end of 2000
  2. Santa-Cruz-Watsonville-CA increased + 74.02% from 1997 to the end of 2000
  3. Santa-Rosa-Petaluma-CA increased + 61.76% from 1997 to the end of 2000
  4. Salinas-CA increased + 59.12% from 1997 to the end of 2000
  5. Napa-CA increased + 54.99% from 1997 to the end of 2000

In contrast, the worst 5 MSAs from 1997 to 2000 were Honolulu-HI, Williamsport-PA, Buffalo-Niagara-Falls-NY, Lewiston-ID-WA, and Midland-TX .

  1. Honolulu-HI decreased by - 1.70% between 1997 and 2000
  2. Williamsport-PA only increased + 2.60% between 1997 and 2000
  3. Buffalo-Niagara-Falls-NY only increased + 3.06% between 1997 and 2000
  4. Lewiston-ID-WA only increased + 3.08% between 1997 and 2000
  5. Midland-TX only increased + 3.25% between 1997 and 2000

Zip Code in MSA: 60960 - RANKIN, IL

MSA Pop: 82804
Zip Pop: 1108
Avg Value: 52500
County: VERMILION
Elev: 597
Region: Midwest
Lat: 40.463682
Long: -87.896365