Belmont (Vic.)

Population growth drivers in Belmont are above average based on AreaSearch's ranking of recent, and medium to long-term trends

As of February 2026, the estimated population of the suburb of Belmont (Vic.) is around 15,287, marking an increase of 221 people since the 2021 Census. This reflects a growth rate of 1.5%. The resident population was estimated at 15,088 by AreaSearch following examination of the latest ERP data release by the ABS in June 2024, with an additional 124 validated new addresses since the Census date contributing to this increase. This equates to a population density ratio of 1,704 persons per square kilometer, which is above the average seen across national locations assessed by AreaSearch. Overseas migration contributed approximately 74.0% of overall population gains during recent periods in Belmont (Vic.).

AreaSearch's projections for Belmont (Vic.) are based on ABS/Geoscience Australia projections released in 2024, using a base year of 2022 for each SA2 area. For areas not covered by this data, AreaSearch utilises the VIC State Government's Regional/LGA projections released in 2023, with adjustments made employing a method of weighted aggregation of population growth from LGA to SA2 levels. Growth rates by age group are applied across all areas for years 2032 to 2041. Looking ahead, significant population increases are forecasted for the top quartile of non-metropolitan areas nationally, with Belmont (Vic.) expected to increase by 3,545 persons to 2041 based on aggregated SA2-level projections, reflecting a gain of 22.0% in total over the 17 years.

Residential development activity is lower than average in Belmont according to AreaSearch's national comparison of local real estate markets

Based on AreaSearch analysis using ABS building approval numbers from statistical area data, Belmont averaged approximately 51 new dwelling approvals annually. Between FY21 and FY25, around 258 homes were approved, with a further 16 approved in FY26 so far. Over the past five financial years, an average of 0.7 new residents arrived per new home built.

This suggests that new construction is meeting or exceeding demand, providing more options for buyers and potentially driving population growth beyond current expectations. The average value of new dwellings being developed is $422,000, indicating a focus on the premium market segment with higher-end properties. In FY26, there have been approximately $13.4 million in commercial approvals, demonstrating moderate levels of commercial development compared to other areas. Belmont has significantly less development activity relative to the rest of Victoria (68.0% below regional average per person), which typically strengthens demand and prices for existing properties. This is also below national averages, suggesting the area's maturity and possible planning constraints. New development in Belmont consists of approximately 33.0% detached dwellings and 67.0% townhouses or apartments. This shift towards compact living offers affordable entry pathways and attracts downsizers, investors, and first-time purchasers, marking a significant departure from the current housing pattern of 78.0% houses.

With around 547 people per dwelling approval, Belmont shows a developed market. According to AreaSearch's latest quarterly estimate, Belmont is projected to add approximately 3,367 residents by 2041. If current construction levels persist, housing supply may lag population growth, potentially intensifying buyer competition and underpinning price growth in the area.

Belmont has very high levels of nearby infrastructure activity, ranking in the top 10% nationally

Changes in local infrastructure significantly affect an area's performance. AreaSearch has identified 28 projects that may impact this region. Notable ones include Wandana Estate, Coles Belmont Redevelopment, 29 Evans Street Townhouses, and 5-7 Church Street Townhouses. The following list details those most likely to be relevant.

Professional plan users can use the search below to filter and access additional projects.

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The employment landscape in Belmont presents a mixed picture: unemployment remains low at 3.9%, yet recent job losses have affected its comparative national standing

Belmont has a well-educated workforce with significant representation in essential services sectors. Its unemployment rate is 3.9%, as per AreaSearch's aggregation of statistical area data. As of September 2025, 8,069 residents are employed, with an unemployment rate of 3.9% compared to Rest of Vic.'s 3.8%.

Workforce participation in Belmont is higher at 67.1%, compared to Rest of Vic.'s 61.4%. According to Census responses, 22.3% of residents work from home. Leading employment industries are health care & social assistance, education & training, and construction.

Agriculture, forestry & fishing has limited presence with 0.7% employment compared to the regional average of 7.5%. The predominantly residential area offers limited local employment opportunities, indicated by the working population count versus resident population. In the 12-month period ending September 2025, Belmont's labour force decreased by 0.6%, while employment declined by 0.6%, keeping unemployment relatively stable at 3.9%. This contrasts with Rest of Vic., where employment contracted by 0.7%, labour force fell by 0.6%, and unemployment rose marginally. Jobs and Skills Australia's national employment forecasts from May-25 project national employment growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Belmont's employment mix suggests local employment should increase by 6.9% over five years and 14.3% over ten years, based on a simple weighting extrapolation for illustrative purposes.

Income levels sit below national averages according to AreaSearch assessment

The suburb of Belmont had median taxpayer income of $52,122 and average income of $67,413 in financial year 2023. This compares to Rest of Vic.'s figures of $50,954 and $62,728 respectively. Based on Wage Price Index growth of 8.25% since then, estimated incomes for September 2025 are approximately $56,422 (median) and $72,975 (average). According to the 2021 Census, household, family, and personal incomes in Belmont rank modestly between the 36th and 49th percentiles. The earnings profile shows that 32.3% of residents fall into the $1,500 - $2,999 bracket (4,937 people), similar to the metropolitan region's 30.3%. Housing affordability pressures are severe with only 83.5% of income remaining, ranking at the 36th percentile. The area's SEIFA income ranking places it in the 5th decile.

Belmont is characterized by a predominantly suburban housing profile, with a higher proportion of rental properties than the broader region

In Belmont, as per the most recent Census evaluation, 78.0% of dwellings were houses with the remaining 22.0% being other types such as semi-detached homes, apartments, and 'other' dwellings. This compares to Non-Metro Vic.'s figures of 90.1% houses and 9.9% other dwellings. The home ownership rate in Belmont was recorded at 32.3%, with mortgaged properties at 31.8% and rented dwellings at 35.9%. The median monthly mortgage repayment in the area stood at $1,703, exceeding Non-Metro Vic.'s average of $1,430. Meanwhile, the median weekly rent figure for Belmont was recorded at $350, compared to Non-Metro Vic.'s $285. Nationally, Belmont's mortgage repayments were lower than the Australian average of $1,863, while rents were also lower than the national figure of $375.

Belmont features high concentrations of lone person households and group households, with a lower-than-average median household size

Family households constitute 60.5% of all households, including 25.0% couples with children, 23.8% couples without children, and 10.4% single parent families. Non-family households comprise the remaining 39.5%, with lone person households at 34.0% and group households at 5.5%. The median household size is 2.3 people, which is smaller than the Rest of Vic. average of 2.4.

The educational profile of Belmont exceeds national averages, with above-average qualification levels and academic performance metrics

Belmont's educational attainment is notably higher than broader averages. Among residents aged 15 and above, 34.0% hold university qualifications, compared to 21.7% in the rest of Victoria and 27.3% in the SA3 area. Bachelor degrees are most common at 21.5%, followed by postgraduate qualifications (8.6%) and graduate diplomas (3.9%). Vocational credentials are also prevalent, with 33.5% of residents holding such qualifications - advanced diplomas account for 11.4% while certificates make up 22.1%. Educational participation is high in Belmont, with 28.6% of residents currently enrolled in formal education.

This includes 8.7% in primary education, 6.9% in tertiary education, and 6.5% pursuing secondary education.

Transport servicing is moderate compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Belmont has 62 active public transport stops serving 22 routes, facilitating 2,201 weekly passenger trips. Residents enjoy good accessibility, with an average distance of 236 meters to the nearest stop. Predominantly residential, most commuters travel outward by car (90%). Average vehicle ownership is 1.2 per dwelling, lower than the regional average. In 2021 Census data, 22.3% of residents worked from home, possibly due to COVID-19 conditions. Daily service frequency averages 314 trips across all routes, translating to around 35 weekly trips per stop.

Service frequency averages 314 trips per day across all routes, equating to approximately 35 weekly trips per individual stop.

Health performance in Belmont is lower than average with common health conditions somewhat prevalent across both younger and older age cohorts

Belmont faces significant health challenges as assessed by AreaSearch's analysis of mortality rates and chronic condition prevalence. Common health conditions are somewhat prevalent across both younger and older age cohorts, with a private health cover rate of approximately 53% of the total population (~8,177 people), leading that of the average SA2 area but slightly lower than the Rest of Vic.'s 50.5%.

The most common medical conditions in the area are mental health issues and asthma, affecting 10.8 and 8.7% of residents respectively, while 66.3% claim to be completely clear of medical ailments compared to 63.4% across Rest of Vic.. Working-age residents show an above-average prevalence of chronic health conditions. The area has 16.0% of residents aged 65 and over (2,445 people), lower than the 23.9% in Rest of Vic., with national rankings broadly in line with the general population.

In terms of cultural diversity, Belmont records figures broadly comparable to the national average, as found in AreaSearch's assessment of a number of language and cultural background related metrics

Belmont's cultural diversity aligns with its wider region, with 87.0% citizens, 82.3% born in Australia, and 88.5% speaking English only at home. Christianity is the dominant religion, comprising 41.3%. Judaism, at 0.1%, mirrors the regional average of 0.1%.

The top three ancestry groups are English (28.9%), Australian (25.8%), and Irish (10.8%). Notably, Dutch (1.9%) and Scottish (9.0%) are overrepresented compared to their regional averages of 1.7% and 8.8%, respectively. Welsh representation is also higher at 0.6%.

Belmont's population is slightly younger than the national pattern

Belmont's median age is 35 years, which is significantly below the Rest of Vic average of 43 and somewhat younger than the Australian median of 38. The 25-34 cohort is notably over-represented in Belmont at 22.1%, compared to the Rest of Vic average, while the 65-74 year-olds are under-represented at 8.1%. This concentration of residents aged 25-34 is well above the national average of 14.4%. Following the Census conducted on August 10th, 2021, younger residents have shifted Belmont's median age down by 1.6 years to 35. Specifically, the percentage of residents aged 25 to 34 has grown from 17.4% to 22.1%, while those aged 35 to 44 increased from 13.1% to 15.4%. Conversely, the percentage of residents aged 45 to 54 declined from 11.3% to 9.4%, and those aged 55 to 64 dropped from 10.3% to 9.0%. Demographic modeling suggests that Belmont's age profile will evolve significantly by the year 2041. The 25-34 cohort is projected to grow strongly at a rate of 43%, adding 1,455 residents to reach a total of 4,834. Conversely, the cohorts aged 65 to 74 and 55 to 64 are expected to experience population declines.