What is the Best Neighborhoods USA ranking for Preston Forest?
Preston Forest is ranked #1 of 31 eligible neighborhoods in Blacksburg; #23 of 518 eligible neighborhoods in VA; and #691 of 14,967 eligible neighborhoods in the United States.
Neighborhood Profile
Preston Forest
Blacksburg, VA | Montgomery County
Scored premium profile
Best Neighborhoods USA Index
74.4
Stability and Strength
81.5
Value Opportunity
77.3
Momentum
59.0
Score note: Rankings show denominators so users always see the size of the eligible cohort.
| Context | Value |
|---|---|
| Location | Blacksburg, VA |
| County | Montgomery County |
| National rank | #691 of 14,967 |
| State rank | #23 of 518 |
| City rank | #1 of 31 |
| County rank | #1 of 31 |
| National percentile | 95.4 |
| National band | TOP_5_PERCENT |
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Housing and local fundamentals
| Housing and market metrics | Value |
|---|---|
| Current Zillow home value | $614,795 |
| Year-over-year home value change | 0.6% |
| Month-over-month home value change | 0.37% |
| Home value to income ratio | 4.29 |
| Median household income | $143,383 |
| Bachelor's degree or higher | 64.8% |
| Civilian unemployment rate | 0.0% |
| Homeownership rate | 94.2% |
| Housing vacancy rate | 4.2% |
| Rent burden 30% or higher | 62.5% |
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 Forest
Is Preston Forest one of the best neighborhoods in Blacksburg?
Preston Forest has a Best Neighborhoods USA Index of 74.4 and a city ranking of #1 of 31 eligible neighborhoods in Blacksburg.
How much are homes worth in Preston Forest?
The current Zillow Home Value Index for Preston Forest is approximately $614,795.
Are home values rising or falling in Preston Forest?
Zillow neighborhood values changed 0.6% year over year and 0.37% month over month.
What is the Neighborhood Momentum Score for Preston Forest?
Preston Forest has a Neighborhood Momentum Score of 59.0. Momentum is 70% year-over-year and 30% month-over-month Zillow housing change.
What is the median household income in Preston Forest?
The NDS-derived neighborhood median household income is approximately $143,383.
How affordable is Preston Forest relative to household income?
The current Zillow home-value-to-household-income ratio is 4.29. Price-to-income affordability is a major Value Opportunity input.
Is Preston Forest primarily homeowners or renters?
The NDS-derived homeownership rate is approximately 94.2%.
What is the unemployment rate in Preston Forest?
The NDS-derived civilian unemployment rate is approximately 0.0%.
How educated are residents of Preston Forest?
Approximately 64.8% of residents age 25 and older are estimated to have a bachelor's degree or higher.
What share of renters in Preston Forest face high rent burden?
Approximately 62.5% 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 Forest?
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 applications3
Estimated originations2
Home-purchase applications1
Origination rate61.3%
Home-purchase share40.5%
Average application loan$269,859
Total application loan amount$703,072
National application rank#14,415 of 14,874 rankable neighborhoods
Geometry coverage100.0%
Recent trend: Applications 52.8% YoY; originations 57.1% 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.