Owing to its location near Blacksburg, Prices Fork has often been under development pressure, which has put its historic resources at risk. Consequently, the area was designated a Virginia Historic Landmark in 1989 and placed on the National Register of Historic Places in 1991. The original district boundaries included a contiguous block of eleven buildings. To further ensure the conservation of Prices Fork's historic structures, however, the area covered under the NRHP designation was expanded in 2014.
Two contributing structures in the district are Prices Fork Methodist Church and former St. Mark's Lutheran Church (which was converted to residential use). Both are simple wooden country churches. There are also a number of nineteenth-century residences included in the designation. However, the two most historically significant buildings in the village are the James Bain Price House and Price Store.
The James Bain Price home is a hip-roofed farmhouse in the double-pile center-passage form popular in Montgomery County during the mid-nineteenth century. It features elements typical of the Greek Revival style and a large central front porch. Both the house and adjacent store were constructed by James Price in 1871. Additionally, the house has several outbuildings, including a meathouse and barn. Nearby is a brick building thought to have once been a schoolhouse.
The Price Store is a three-bay, gable-fronted, weatherboard frame structure. Unusual in its elegance, it is one of the county's best-preserved commercial buildings dating from the third quarter of the nineteeth century. Though the interior has been remodeled, many of the original elements are still intact.