Belmont (Vic.)

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

By May 2026, the estimated population of the suburb of Belmont (Vic.) is around 15,286, according to an analysis of ABS population updates and new addresses validated by AreaSearch. This reflects a growth of 220 people since the 2021 Census, which reported a population of 15,066. The increase is inferred from AreaSearch's estimate of 15,178 residents following an examination of the latest ERP data release by the ABS in June 2025 and an additional 122 validated new addresses since the Census date. This results in a population density ratio of 1,704 persons per square kilometer, higher than the average seen across national locations assessed by AreaSearch. Belmont's 1.5% growth since census compares favorably with the Rest of Vic., which saw a 4.3% increase, indicating competitive growth fundamentals. Overseas migration contributed approximately 74.0% of overall population gains in recent periods. AreaSearch uses ABS/Geoscience Australia projections for each SA2 area, released in 2024 with a base year of 2022.

For areas not covered by this data, AreaSearch employs the VIC State Government's Regional/LGA projections from 2023, adjusted using 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. By 2041, the suburb is projected to increase its population by 3,350 persons, reflecting a gain of 21.2% in total over the 16-year period, placing it in the top quartile of non-metropolitan areas nationally.

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

Based on AreaSearch analysis of ABS building approval numbers, allocated from statistical area data, Belmont has averaged around 51 new dwelling approvals each year. Between FY-21 and FY-25, an estimated 258 homes were approved, with a further 25 so far in FY-26. Over the past five financial years, new construction matched or outpaced demand at an average of just 0.5 new residents per year arriving per new home.

Developers targeted the premium market segment, with new dwellings valued at an average of $422,000. This financial year has seen $13.4 million in commercial approvals, indicating moderate levels of commercial development. Compared to Rest of Vic., Belmont had significantly less development activity, 67.0% below the regional average per person. This scarcity typically strengthens demand and prices for existing properties, reflecting the area's maturity and possible planning constraints. New development consisted of 33.0% detached dwellings and 67.0% townhouses or apartments, marking a significant departure from existing housing patterns (currently 78.0% houses). With around 546 people per dwelling approval, Belmont shows a developed market. Future projections estimate Belmont adding 3,242 residents by 2041.

Should current construction levels persist, housing supply could lag population growth, likely intensifying buyer competition and underpinning price growth.

Belmont has very high levels of nearby infrastructure activity, ranking in the top 20% nationally

Changes to 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, Epworth Geelong Innovation and Education Precinct, and 29 Evans Street Townhouses. The following details those most relevant.

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

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

The employment landscape in Belmont shows performance that lags behind national averages across key labour market indicators

Belmont has an educated workforce with significant representation in essential services sectors. Its unemployment rate is 4.1%, as per AreaSearch's aggregation of statistical area data. As of December 2025, Belmont has 8,021 residents employed, with an unemployment rate of 4.1% compared to Regional Vic.'s 3.7%.

Workforce participation in Belmont is higher at 66.6%, versus Regional Vic.'s 61.0%. 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. Between December 2024 and November 2025, Belmont's labour force decreased by 0.9%, while employment declined by 1.0%, keeping unemployment relatively stable at 4.1%. In comparison, Regional Vic.'s employment contracted by 0.6% over the same period, with a labour force fall of 0.7% and a 0.1 percentage point decrease in unemployment. Jobs and Skills Australia's national employment forecasts from May-25 project overall 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, though this is a simple weighting extrapolation for illustrative purposes only.

Income levels sit below national averages according to AreaSearch assessment

Belmont suburb's income level aligns with national averages, per latest ATO data aggregated by AreaSearch for financial year 2023. Belmont's median income among taxpayers is $52,122 and average income stands at $67,413. These figures compare to Regional Vic.'s median of $50,954 and average of $62,728. Based on Wage Price Index growth of 9.62% since financial year 2023, estimated incomes for March 2026 are approximately $57,136 (median) and $73,898 (average). According to 2021 Census figures, household, family, and personal incomes rank modestly in Belmont, between the 36th and 49th percentiles. The earnings profile shows the $1,500 - 2,999 bracket dominates with 32.3% of residents (4,937 people), similar to metropolitan region patterns at 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

The dwelling structure in Belmont, as assessed at the latest Census, consisted of 78.0% houses and 22.0% other dwellings such as semi-detached homes, apartments, and 'other' dwellings. This compares to Regional Vic.'s 90.1% houses and 9.9% other dwellings. Home ownership in Belmont was at 32.3%, with the rest of dwellings either mortgaged (31.8%) or rented (35.9%). The median monthly mortgage repayment in the area was $1,703, which is higher than Regional Vic.'s average of $1,430. The median weekly rent figure was recorded at $350, compared to Regional Vic.'s $285. Nationally, Belmont's mortgage repayments are lower than the Australian average of $1,863, while rents are less 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 making up 5.5%. The median household size is 2.3 people, smaller than the Regional 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 standards. Among residents aged 15 and above, 34.0% have university qualifications, compared to 21.7% in the rest of Victoria and 27.3% in the SA3 area. This high level of educational attainment positions Belmont favourably for knowledge-based opportunities. Bachelor degrees are most prevalent at 21.5%, followed by postgraduate qualifications (8.6%) and graduate diplomas (3.9%). Vocational credentials are also prominent, with 33.5% of residents aged 15 and above holding such qualifications – advanced diplomas account for 11.4% while certificates make up 22.1%.

Educational participation is particularly 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, with a total of 2,201 weekly passenger trips. Residents have good access to these stops, being typically located 236 meters from the nearest one. Most residents commute outward due to Belmont's primarily residential nature. Cars remain the dominant mode of transportation, used by 90% of commuters. Vehicle ownership averages 1.2 per dwelling, lower than the regional average. According to the 2021 Census, 22.3% of residents work from home, which may reflect COVID-19 conditions.

The service frequency across all routes is 314 trips per day on average, resulting in 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.

The rate of private health cover is approximately 53% of the total population, which consists of around 8,176 people, compared to 50.5% in Regional Victoria. Mental health issues and asthma were found to be the most common medical conditions in the area, impacting 10.8% and 8.7% of residents respectively. Approximately 66.3% of residents declared themselves completely clear of medical ailments, compared to 63.4% across Regional Victoria. Working-age residents show an above average prevalence of chronic health conditions. The area has 16.7% of residents aged 65 and over, which consists of around 2,552 people, lower than the 23.9% in Regional Victoria. National rankings are 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 predominant religion, accounting for 41.3%. Judaism is slightly overrepresented at 0.1%, compared to 0.1% regionally.

The top three ancestral groups are English (28.9%), Australian (25.8%), and Irish (10.8%). Dutch (1.9%) and Scottish (9.0%) are notably overrepresented, while Welsh (0.6%) is slightly so, compared to regional averages of 1.7%, 8.8%, and 0.4% respectively.

Belmont's population is slightly younger than the national pattern

The median age in Belmont is 36 years, which is significantly lower than Regional Victoria's average of 43 years and slightly younger than Australia's average of 38 years. The 25-34 age group makes up 20.5% of Belmont's population, compared to Regional Vic., while the 65-74 cohort constitutes 8.3%. This concentration of the 25-34 age group is higher than the national average of 14.6%. According to post-2021 Census data, Belmont has become younger with a median age drop from 37 years to 36 years. Specifically, the 25-34 age group grew from 17.4% to 20.5%, and the 35-44 cohort increased from 13.1% to 15.5%. Conversely, the 45-54 cohort declined from 11.3% to 9.7%, and the 55-64 group dropped from 10.3% to 9.2%. By 2041, Belmont is projected to experience notable shifts in its age composition, with the 25-34 age cohort expected to grow by 1,352 people (43%) from 3,133 to 4,486. Conversely, population declines are projected for the 65-74 and 55-64 cohorts.