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These days, finding an affordable place to live in the Belmont area can be challenging. Home prices in Belmont are now at a median cost of $1,188,952, higher than the Massachusetts average of $625,090.
The average cost of rent is $2,468/mo in Belmont, primarily driven by the current value of real estate in the Belmont area. In Belmont, 34.73% of households rent, and 33.30% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Belmont is $16,169 per month. Households that rent pay about 15.26% of their income on rent here. Belmont’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southwestern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Watertown, MA: less expensive homes
- Watertown Town, MA: less expensive homes
- Arlington, MA: less expensive homes
- Newtonville, MA: equally priced homes
- Newton, MA: equally priced homes
- Brighton, MA: less expensive homes
- Waltham, MA: less expensive homes
- Allston, MA: less expensive homes
- Cambridge, MA: equally priced homes
- Somerville, MA: less expensive homes
Cities with Similar Populations
- York, SC: less expensive homes
- Amelia, OH: less expensive homes
- Yelm, WA: less expensive homes
- Belton, MO: less expensive homes
- Watertown, WI: less expensive homes
- Horn Lake, MS: less expensive homes
- Hatillo, PR: less expensive homes
- Hastings, MN: less expensive homes
- Murrells Inlet, SC: less expensive homes
- Macungie, PA: less expensive homes
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