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 Feb 2026, the estimated population of the suburb of Belmont (Vic.) is around 15,287. This figure reflects an increase of 221 people since the 2021 Census, which reported a population of 15,066. The change is inferred from AreaSearch's estimation of the resident population at 15,088 following examination of ABS data released in June 2024 and an additional 124 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 across national locations assessed by AreaSearch. Overseas migration contributed approximately 74.0% of overall population gains during recent periods.

AreaSearch is using ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022, and VIC State Government's Regional/LGA projections released in 2023 adjusted employing weighted aggregation for areas not covered by the first data set. Growth rates by age group are applied across all areas for years 2032 to 2041. By 2041, a significant population increase is forecast for Belmont (Vic.), with an expected expansion of 3,545 persons, reflecting a total increase of 21.9% over the 17-year period.

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 recorded around 51 residential properties granted approval annually over the past five financial years. This totals an estimated 258 homes between FY-21 and FY-25. So far in FY-26, 18 approvals have been recorded. On average, 0.6 new residents arrive per year for each new home approved during this period.

New supply is keeping pace with or exceeding demand, offering ample buyer choice while creating capacity for population growth beyond current forecasts. The average construction value of these new properties is $422,000, indicating a focus on the premium market with high-end developments. In FY-26, there have been $13.4 million in commercial approvals, demonstrating moderate levels of commercial development. Compared to the Rest of Vic., Belmont has significantly less development activity, at 68.0% below the regional average per person. This limited new supply generally supports stronger demand and values for established dwellings. Nationally, Belmont's level is also lower, reflecting market maturity and possible development constraints. New development in Belmont consists of 33.0% detached houses and 67.0% townhouses or apartments.

This trend towards denser development provides accessible entry options and appeals to downsizers, investors, and entry-level buyers, marking a significant departure from existing housing patterns which are currently 78.0% houses. Belmont shows a developed market with around 547 people per dwelling approval. Future projections show Belmont adding 3,346 residents by 2041 (from the latest AreaSearch quarterly estimate). If current development rates continue, housing supply may not keep pace with population growth, potentially increasing competition among buyers and supporting stronger price growth.

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

Changes to local infrastructure significantly impact an area's performance. AreaSearch identified 28 projects likely influencing the region. Key initiatives include Wandana Estate, Coles Belmont Redevelopment, 29 Evans Street Townhouses, and 5-7 Church Street Townhouses. The following list details those most relevant.

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

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Belmont has seen below average employment performance when compared to national benchmarks

Belmont has an educated workforce with significant representation in essential services sectors. The unemployment rate is 4.1%, according to AreaSearch's aggregation of statistical area data. As of December 2025, 8,030 residents are employed while the unemployment rate is 0.4% higher than Regional Vic.'s rate of 3.7%.

Workforce participation is similar at 66.4% compared to Regional Vic.'s 61.5%. Census responses indicate that a moderate 22.3% of residents work from home, potentially influenced by Covid-19 lockdown impacts. Key employment industries include health care & social assistance, education & training, and construction.

Agriculture, forestry & fishing has limited presence with only 0.7% employment compared to the regional average of 7.5%. The area offers limited local employment opportunities as suggested by the ratio of Census working population to resident population. Between December 2024 and December 2025, Belmont's labour force decreased by 0.9% while employment declined by the same percentage, with unemployment remaining stable. In contrast, Regional Vic. experienced a 0.6% employment decline and a 0.7% labour force decrease, with a slight drop in unemployment of 0.1 percentage points. Jobs and Skills Australia's national employment forecasts from May-25 project that national employment will expand by 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, although these are simple weighted extrapolations for illustrative purposes and do not account for local population projections.

Income levels sit below national averages according to AreaSearch assessment

The suburb of Belmont had a median taxpayer income of $52,122 and an average income of $67,413 in the financial year 2023, according to postcode level ATO data aggregated by AreaSearch. This is roughly the national average, differing from Regional Vic.'s median income of $50,954 and average income of $62,728. By September 2025, estimated median and average incomes in Belmont would be approximately $56,422 and $72,975 respectively, based on an 8.25% increase since financial year 2023. In the 2021 Census, household, family, and personal incomes in Belmont ranked modestly, between the 36th and 49th percentiles. Income analysis showed that the $1,500 - 2,999 bracket dominated with 32.3% of residents (4,937 people), similar to regional levels at 30.3%. Housing affordability was severe, with only 83.5% of income remaining, ranking at the 36th percentile. The area's SEIFA income ranking placed 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

Dwelling structure in Belmont, as evaluated at the latest Census, comprised 78.0% houses and 22.0% other dwellings. In comparison, Regional Vic. had 90.1% houses and 9.9% other dwellings. Home ownership in Belmont was 32.3%, with mortgaged dwellings at 31.8% and rented dwellings at 35.9%. The median monthly mortgage repayment was $1,703, higher than Regional Vic.'s average of $1,430. Median weekly rent in Belmont was $350, compared to Regional Vic.'s $285. Nationally, Belmont's mortgage repayments were lower than the Australian average of $1,863, and rents were 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

In Belmont, a significant proportion of residents aged 15 and above have university qualifications, with 34.0% surpassing broader benchmarks. This is higher than the Rest of Vic. (21.7%) and SA3 area (27.3%). The educational advantage is evident in various qualifications: Bachelor degrees lead at 21.5%, followed by postgraduate qualifications (8.6%) and graduate diplomas (3.9%). Trade and technical skills are also prominent, with 33.5% of residents holding vocational credentials – advanced diplomas (11.4%) and certificates (22.1%).

Educational participation is high, 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 different routes. These routes facilitate a total of 2,201 weekly passenger trips. The average distance from residents' locations to the nearest transport stop is 236 meters, indicating good accessibility. In this predominantly residential area, most commuters travel outward, with cars being the primary mode of transportation at 90%. On average, there are 1.2 vehicles per dwelling, which is below the regional average. According to the 2021 Census, 22.3% of residents work from home, a figure that might be influenced by COVID-19 conditions.

Across all routes, service frequency averages 314 trips per day, translating 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 based on AreaSearch's assessment. Mortality rates and chronic condition prevalence are high, with common health conditions prevalent across both younger and older age cohorts.

The rate of private health cover is approximately 53% of the total population (~8,177 people), leading that of the average SA2 area but slightly below Regional Vic.'s 50.5%. Mental health issues impact 10.8% of residents, while asthma affects 8.7%. Conversely, 66.3% of residents declare themselves completely clear of medical ailments, compared to 63.4% across Regional Vic. Working-age residents show above average prevalence of chronic health conditions. The area has 16.2% of residents aged 65 and over (2,476 people), lower than Regional Vic.'s 23.9%. 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, comprising 41.3%. Judaism, at 0.1%, is slightly overrepresented compared to Regional Vic's 0.1%.

Top ancestry groups are English (28.9%), Australian (25.8%), and Irish (10.8%). Notably, Dutch (1.9% vs regional 1.7%), Scottish (9.0% vs 8.8%), and Welsh (0.6% vs 0.4%) are overrepresented in Belmont.

Belmont's population is slightly younger than the national pattern

Belmont's median age is 35 years, which is significantly lower than the Regional Vic. average of 43 and somewhat younger than the Australian median of 38. The 25-34 cohort is notably over-represented in Belmont at 22.2%, compared to the Regional Vic. average, while the 65-74 year-olds are under-represented at 8.2%. This concentration of the 25-34 age group is well above the national average of 14.4%. Following the Census conducted on 28th August 2021, younger residents have shifted the median age down by 1.6 years to 35. The 25 to 34 age group has grown from 17.4% to 22.2%, while the 35 to 44 cohort increased from 13.1% to 15.4%. Conversely, the 45 to 54 cohort has declined from 11.3% to 9.5%, and the 55 to 64 group dropped from 10.3% to 9.1%. Demographic modeling suggests that Belmont's age profile will evolve significantly by 2041. The 25-34 cohort shows the strongest projected growth at 42%, adding 1,435 residents to reach a total of 4,829. Conversely, the 65-74 and 55-64 cohorts are expected to experience population declines.