Appreciation for MSAs:.

Let's start by comparing Danville, Illinios to the rest of the state. This will give us an idea if the appreciation here was isolated or happened across the state.

We have appreciattion of + 18.40% (+ 4.60% yearly) for the Danville, Illinios MSA.

The entire state of IL had + 32.43% appreciation (+ 8.11% yearly). The state average for Illinios was higher than the real estate appreciation in the Danville, Illinios MSA. This means the conditions in the MSA for real estate investment were worse by + 76.26%.

Danville-IL

YearQuarterPrice IndexQuarter Increase or DecreaseAnnualized
2002 2 137.93 + 0.94% + 3.75%
2002 3 139.47 + 1.12% + 4.47%
2002 4 141.57 + 1.51% + 6.02%
2003 1 140.94 - 0.45% - 1.78%
2003 2 142.19 + 0.89% + 3.55%
2003 3 142.47 + 0.20% + 0.79%
2003 4 143.79 + 0.93% + 3.71%
2004 1 145.3 + 1.05% + 4.20%
2004 2 147.4 + 1.45% + 5.78%
2004 3 144.35 - 2.07% - 8.28%
2004 4 156.77 + 8.60% + 34.42%
2005 1 147.33 - 6.02% - 24.09%
2005 2 158.89 + 7.85% + 31.39%
2005 3 157.47 - 0.89% - 3.57%
2005 4 161.79 + 2.74% + 10.97%


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 $107,000.00 in 2002, you could multiply by + 18.40%, add the gain and see the home should be worth $126,685.18 in 2005. Home value is an important part of every mortgage transaction.


Average YEARLY Real Estate Appreciation for Danville-IL from 2002 to 2005:
+ 4.60%

Appreciation Comparisons

The top 5 performing MSAs from 2002 to 2005 were Bakersfield-CA, Fresno-CA, Madera-CA, Riverside-San-Bernardino-Ontario-CA, and Yuba-City-CA .

  1. Bakersfield-CA increased +116.36% from 2002 to the end of 2005
  2. Fresno-CA increased +116.09% from 2002 to the end of 2005
  3. Madera-CA increased +114.32% from 2002 to the end of 2005
  4. Riverside-San-Bernardino-Ontario-CA increased +112.60% from 2002 to the end of 2005
  5. Yuba-City-CA increased +108.89% from 2002 to the end of 2005

For a 4 year period, the top 5 performing MSAs of all time are Bakersfield-CA, Fresno-CA, Madera-CA, Riverside-San-Bernardino-Ontario-CA, and Bakersfield-CA .

  1. Bakersfield-CA increased +116.36% from 2002 thru 2005
  2. Fresno-CA increased +116.09% from 2002 thru 2005
  3. Madera-CA increased +114.32% from 2002 thru 2005
  4. Riverside-San-Bernardino-Ontario-CA increased +112.60% from 2002 thru 2005
  5. Bakersfield-CA increased +110.89% from 2003 thru 2006

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