What is the Best Neighborhoods USA ranking for Preston Park?
Preston Park is ranked #28 of 43 eligible neighborhoods in Roanoke; #437 of 518 eligible neighborhoods in VA; and #11,192 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Preston Park
Roanoke, VA | Roanoke City
Scored premium profile
Best Neighborhoods USA Index
39.4
Stability and Strength
35.9
Value Opportunity
40.8
Momentum
42.9
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Roanoke, VA |
| County | Roanoke City |
| National rank | #11,192 of 14,967 |
| State rank | #437 of 518 |
| City rank | #28 of 43 |
| County rank | #28 of 43 |
| National percentile | 25.2 |
| National band | MIDDLE_50_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $234,044 |
| Year-over-year home value change | -0.0% |
| Month-over-month home value change | -0.05% |
| Home value to income ratio | 4.78 |
| Median household income | $48,997 |
| Bachelor's degree or higher | 19.9% |
| Civilian unemployment rate | 5.3% |
| Homeownership rate | 57.2% |
| Housing vacancy rate | 8.1% |
| Rent burden 30% or higher | 45.1% |
How to read this profile
- Ranks are always shown with denominators.
- Momentum reflects both year-over-year and month-over-month housing change.
- Stability and Strength and Value Opportunity are governed composite scores.
- Identity composition is descriptive intelligence and is not a scoring component.
Questions and Answers
Questions About Living in Preston Park
Is Preston Park one of the best neighborhoods in Roanoke?
Preston Park has a Best Neighborhoods USA Index of 39.4 and a city ranking of #28 of 43 eligible neighborhoods in Roanoke.
How much are homes worth in Preston Park?
The current Zillow Home Value Index for Preston Park is approximately $234,044.
Are home values rising or falling in Preston Park?
Zillow neighborhood values changed -0.0% year over year and -0.05% month over month.
What is the Neighborhood Momentum Score for Preston Park?
Preston Park has a Neighborhood Momentum Score of 42.9. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Preston Park?
The NDS-derived neighborhood median household income is approximately $48,997.
How affordable is Preston Park relative to household income?
The current Zillow home-value-to-household-income ratio is 4.78. Price-to-income affordability is a major Value Opportunity input.
Is Preston Park primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 57.2%.
What is the unemployment rate in Preston Park?
The NDS-derived civilian unemployment rate is approximately 5.3%.
How educated are residents of Preston Park?
Approximately 19.9% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Preston Park face high rent burden?
Approximately 45.1% of the applicable renter-household universe is estimated to spend 30% or more of household income on gross rent.
How does Best Neighborhoods USA score Preston Park?
The overall index combines 40% Stability and Strength, 35% Value Opportunity, and 25% Momentum. Race, ethnicity, and identity composition are not scoring components.
Governed ranking context
How this neighborhood ranks
HMDA Mortgage Intelligence
Neighborhood Mortgage Market
Modeled neighborhood-level mortgage activity allocated from governed HMDA tract data using Zillow neighborhood geometry. These neighborhood values are nonadditive and do not enter the Best Neighborhoods USA Index.
Activity year2024
Estimated applications251
Estimated originations161
Home-purchase applications105
Origination rate64.1%
Home-purchase share41.7%
Average application loan$142,117
Total application loan amount$35,633,141
National application rank#1,545 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 26.6% YoY; originations 27.1% YoY
Mortgage methodology
HMDA is natively reported at tract and other lender-reporting geographies, not Zillow neighborhood or ZIP geography. This module uses the certified NDS HMDA-to-Zillow tract-vintage crosswalk and area-weighted allocation. Rankings require governed geometry coverage. Applicant demographics are excluded. Neighborhood values may overlap and must not be summed to reconstruct ZIP or national totals.