The name Happy Valley was given to the area in the Great Depression-era of the 1930s since it was generally not hit hard financially by the depression because of the presence of Pennsylvania State University.

Streets are closed off and lined with booths where people can buy paintings, pottery, jewelry, and other hand-made goods.

There are also numerous musical performances and plays to take in, and food vendors selling everything from funnel cakes to Indian cuisine.

[6] Blue-White Football Weekend occurs in April and includes a carnival, fireworks, food vendors, the student entertainment stage, live music, a parade, and more.

In a 2014 comparison of 380 metropolitan statistical areas in the United States, Happy Valley had the lowest vehicle theft rate.