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Real Estate Prices & Overview

Belmont median real estate price is $395,546, which is more expensive than 48.1% of the neighborhoods in Virginia and 56.0% of the neighborhoods in the U.S.

The average rental price in Belmont is currently $1,869, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 64.0% of Virginia neighborhoods.

Belmont is an urban neighborhood (based on population density) located in Charlottesville, Virginia.

Belmont real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Belmont neighborhood are newer, built in 2000 or more recently. A number of residences were also built before 1940.

In Belmont, the current vacancy rate is 0.0%, which is a lower rate of vacancies than 100.0% of all neighborhoods in the U.S. This means that the housing supply in Belmont is very tight compared to the demand for property here.

Notable & Unique Neighborhood Characteristics

Many things matter about a neighborhood, but the first thing most people notice is the way a neighborhood looks and its particular character. For example, one might notice whether the buildings all date from a certain time period or whether shop signs are in multiple languages. This particular neighborhood in Charlottesville, the Belmont neighborhood, has some outstanding things about the way it looks and its way of life that are worth highlighting.

Real Estate

With a real estate vacancy rate of only 0.0%, the Belmont neighborhood has a lower vacancy rate than 100.0% of U.S. neighborhoods, a very elite group. Such a low vacancy rate may indicate very strong real estate demand in the neighborhood combined with some impediments to increasing supply, such as zoning or existing density of development, among other potential reasons.

People

In a nation where 1 out of every 4 children lives in poverty, the Belmont neighborhood stands out as being ranked among the lowest 0.0% of neighborhoods affected by this global issue.

In addition, one of the most interesting things about the Belmont neighborhood is that it has a greater concentration of residents who live alone than most all neighborhoods in America. With 49.2% of the households here made up of people living alone, NeighborhoodScout's research reveals that this is a larger proportion of people living alone than in 95.2% of the neighborhoods in America.

Modes of Transportation

Would you like to be able to ride your bike to work? If you are attracted to the idea of getting a little exercise of the two-wheeled type while reducing your carbon footprint, bicycling to work might be the answer. But which neighborhood you live in can make this either impossible, or alternatively, a great and realistic option. NeighborhoodScout's analysis revealed that the Belmont neighborhood is a fantastic option for bicycle commuters, as 4.5% of commuters here do ride their bikes to and from work on a daily basis. This is a higher amount than we found in 97.8% of the neighborhoods in America.

Diversity

Did you know that the Belmont neighborhood has more Romanian and Greek ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 1.3% of this neighborhood's residents have Romanian ancestry and 2.4% have Greek ancestry.

Belmont is also pretty special linguistically. Significantly, 0.8% of its residents five years old and above primarily speak Greek at home. While this may seem like a small percentage, it is higher than 95.9% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Belmont neighborhood in Charlottesville are middle-income, making it a moderate income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 42.2% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

A neighborhood is far different if it is dominated by enlisted military personnel rather than people who earn their living by farming. It is also different if most of the neighbors are clerical support or managers. What is wonderful is the sheer diversity of neighborhoods, allowing you to find the type that fits your lifestyle and aspirations.

In the Belmont neighborhood, 52.3% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 23.7% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (12.1%), and 11.9% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Belmont neighborhood is English, spoken by 93.2% of households. Other important languages spoken here include Italian and Chinese.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Belmont neighborhood in Charlottesville, VA, residents most commonly identify their ethnicity or ancestry as German (14.0%). There are also a number of people of Irish ancestry (12.3%), and residents who report English roots (12.2%), and some of the residents are also of French ancestry (4.8%), along with some Italian ancestry residents (4.7%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Belmont neighborhood spend under 15 minutes commuting one-way to work (48.6% of working residents), one of the shortest commutes across America.

Here most residents (61.5%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (10.8%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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