How Is The Economy In FOREST, VA?

Joel Kramar image By
Published: Jan 06, 2023
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Looking around the beautiful Blue Ridge Mountain area, we will find that there are quite a few places with an unforgettable Virginia charm. If you’re looking for a lovely, spacious suburban town in the area, you should definitely check out Forest in Bedford County.

 

Forest, VA, makes part of the Lynchburg Metropolitan Statistical Area, located very close to Lynchburg, VA but also enjoying proximity to the stunning natural beauties nearby. The community here is notoriously sympathetic, welcoming, and family-friendly, making it an excellent choice for those who are planning to settle down in a calm place close to nature. The population of the census-designated place was at 11,709 during the 2020 census. The safety index is also very good, with little to no crime record. The local economy is experiencing growth, one more reason to consider Forest, VA when looking for a place to live in the Lynchburg area.

Great location, high liveability score

invetsments fluctuation us economy agent graph

When it comes to the reasons that make Forest, VA a great place to live, there are two essentials. First of all, the location. Forest, VA is located at a convenient distance from Lynchburg, making it really easy to reach the attractions of the city. The proximity also makes the lives of commuters more pleasant.

The small-town pace of life is becoming the preference of many who had enough of the rush and noise of big cities. The quality of air and the great outdoor opportunities nearby make Forest, VA an ideal place for people who love nature and want to live close to it.

Secondly, the livability score of this small town is above average, indicating that Forest, VA is overall a great place to live. According to different sources, the index shows that the town ranks 60% better than average, with a livability score of 70-75.

beautiful young asian woman in the forest

Steadily growing economy

Forest’s economy is showing slow and steady growth. In case you’re worried about the peace and quiet being disturbed, it’s not very probable. This steady growth will indeed provide new job opportunities, but Forest won’t blow up to grow into a concrete jungle anytime soon. If we look at the statistics, the job growth for the following years is predicted to be 31.1%, slightly lower than the US average. The unemployment rate is under the US average, and so is the sales tax rate, which is 5.3% in Forest, compared to the US average of 7.3%. The income tax rate is 5.8%, slightly higher than the US average of 4.6%

The larger Lynchburg region, though, is highly preferred by millennials to move to. The area is home to great schools, colleges, and universities, one of its strongest assets being education. Many training and workforce development options make the place attractive for young professionals.

The cost of living here is lower than the national average and low compared to the Virginia average too. The town provides affordable housing options, with the median selling price of a home at $303,000 in November, 2022.

In closing, 

Forest, VA is one of the most affordable, close-to-nature places there are, with a warm community that makes life safe and liveable. The Lynchburg area is a young, buzzing community with lots of new opportunities to explore as a young professional. Forest has easy access to all that buzz while having the perk of being serenely remote at the same time, offering the gift of a calm life for people of any age and walks of life. If you feel that Forest could be your home, feel free to give me a call. I am very happy to help with any information on real estate or life in the area in general. 

 

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