Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 27,225, 10,961 total housing units (homes and apartments), and a median house value of $1,844,963, Belmont house prices are not only among the most expensive in California, Belmont real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Belmont, accounting for 54.11% of the city's housing units. Other types of housing that are prevalent in Belmont include large apartment complexes or high rise apartments ( 36.43%), row houses and other attached homes ( 6.56%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.80%).
The most prevalent building size and type in Belmont are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 55.14% owning and 44.86% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Belmont's housing was primarily built during this period, from the '40s through the '60s. A full 57.36% of the city's housing hails from this era. Other housing ages represented in Belmont include homes built between 1970-1999 ( 34.78%) and housing constructed between 2000 and later ( 5.12%). There's also some housing in Belmont built before 1939 ( 2.74%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Belmont, where house values have increased just 25.76%, which is annualized rate of 2.32%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Belmont appreciation rates have trailed the rest of the nation. In the last twelve months, Belmont's appreciation rate has been 4.63%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belmont were at -6.98%, which equates to an annual appreciation rate of -25.13%.
Notably, Belmont's appreciation rate in the latest quarter is one of the lowest in America.
Relative to California, our data show that Belmont's latest annual appreciation rate is lower than 80% of the other cities and towns in California.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Belmont differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Belmont - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Belmont real estate investment or home purchase decisions.
$4,772 / per month