The typical owner-occupied home in Belmont is worth about $1,159,000, 2.1 times the Massachusetts median of $562,100 and 3.5 times the national median of $332,700. Owners pay a median $10,001 a year in property taxes, about 0.86% of their home's value, lower than the Massachusetts rate of 1.07%. The median household earns $183,137 a year, so the median home costs 6.3 times the median income (5.4 times for Massachusetts). 65% of occupied homes here are lived in by their owners, and 65% of those owners still have a mortgage.
Belmont at a glance
| Belmont | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $1,159,000 | $562,100 | $332,700 |
| Median property tax paid per year | $10,001 | $5,992 | $3,119 |
| Property tax as a share of value | 0.86% | 1.07% | 0.94% |
| Median household income | $183,137 | $103,960 | $80,734 |
| Homes lived in by their owners | 65% | 63% | 65% |
| Owner homes with a mortgage | 65% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $4,001 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 21.9% | 21.0% |
| Median rent | $2,527 | $1,762 | $1,413 |
| Rent as a share of renters' income | 27.4% | 30.9% | 30.6% |
| Median year homes were built | 1938 | 1964 | 1980 |
| Vacant homes | 4.3% | 8.1% | 10.1% |
| Population | 27,175 | 7,044,056 | 334,922,499 |
What a typical home costs per month in Belmont
At this week's average 30-year rate of 7.11%, buying the median Belmont home of $1,159,000 with 20% down costs about $7,551 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $9,668, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $323,608 for the 20%-down payment. That payment is 49% of the median Belmont household income of $183,137; at that income and 20% down, the 28% guideline points to a home of about $656,000.
The median rent here is $2,527 a month, so owning the median home costs about $5,024 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $231,800 |
|---|---|
| Loan amount | $927,200 |
| Principal and interest | $6,237 |
| Property taxes (0.86% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $483 |
| PMI | $0 |
| Total per month | $7,551 |
Change the numbers in the calculator
| Down payment | $40,565 |
|---|---|
| Loan amount | $1,138,008 |
| Principal and interest | $7,655 |
| Property taxes (0.86% a year) | $831 |
| Homeowners insurance (our estimate, 0.5% a year) | $483 |
| FHA mortgage insurance | $699 |
| Total per month | $9,668 |
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Questions about home buying in Belmont
What is the median home value in Belmont?
About $1,159,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Belmont?
Homeowners pay a median $10,001 a year, which is about 0.86% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Belmont?
For the median home with 20% down at 7.11%, the payment is about $7,551 a month. Keeping that under 28% of gross income takes about $323,608 a year.
More about Belmont
- Mortgage Refinance in Belmont
- Debt Relief in Belmont
- Home Equity Loans in Belmont
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data