Belmont

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

Based on AreaSearch's analysis, Belmont's population is around 15,334 as of Feb 2026. This reflects an increase of 317 people (2.1%) since the 2021 Census, which reported a population of 15,017 people. The change is inferred from the estimated resident population of 15,134 from the ABS as of June 2024 and an additional 133 validated new addresses since the Census date. This population level equates to a density ratio of 1,636 persons per square kilometer, which is above the average seen across national locations assessed by AreaSearch. Population growth for the area was primarily driven by overseas migration, which contributed approximately 73.8% of overall population gains during recent periods.

AreaSearch is adopting ABS/Geoscience Australia projections for each SA2 area, as released in 2024 with 2022 as the base year. For any SA2 areas not covered by this data, AreaSearch is utilising 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 from these aggregations are also applied across all areas for years 2032 to 2041. Anticipating future population dynamics, a significant population increase in the top quartile of Australian non-metropolitan areas is forecast, with the area expected to increase by 3,540 persons by 2041 based on the latest annual ERP population numbers, reflecting a gain of 21.8% 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

Belmont has averaged around 56 new dwelling approvals annually, with 284 homes approved over the past 5 financial years (between FY-21 and FY-25) and 19 so far in FY-26. Given an average of only 0.6 new residents per year per dwelling constructed over the past 5 financial years (between FY-21 and FY-25), new supply is keeping pace with or exceeding demand, offering ample buyer choice and creating capacity for population growth beyond current forecasts, while new homes are being built at an average value of $255,000, consistent with regional patterns. There have also been $13.4 million in commercial approvals this financial year, demonstrating moderate levels of commercial development.

Relative to the Rest of Vic., Belmont shows substantially reduced construction (64.0% below regional average per person). This constrained new construction usually reinforces demand and pricing for existing homes. New development consists of 32.0% standalone homes and 68.0% medium and high-density housing. This trend toward denser development provides accessible entry options and appeals to downsizers, investors, and entry-level buyers. This represents a notable shift from the area's existing housing (currently 78.0% houses), indicating decreasing availability of developable sites and reflecting changing lifestyles and the need for more diverse, affordable housing options. With around 538 people per dwelling approval, Belmont shows a developed market.

Looking ahead, Belmont is expected to grow by 3,340 residents through to 2041 (from the latest AreaSearch quarterly estimate). At current development rates, housing supply may struggle to match population growth, potentially heightening buyer competition and supporting price increases.

Belmont has moderate levels of nearby infrastructure activity, ranking in the top 50% nationally

Nothing can influence an area's performance as much as changes to local infrastructure, major projects, and planning initiatives. In total, 28 projects have been identified by AreaSearch that are likely to have an impact on the area. Key projects include Wandana Estate, Coles Belmont Redevelopment, 29 Evans Street Townhouses, and 5-7 Church Street Townhouses, with the list below detailing those likely to be of most relevance.

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.

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

Belmont features a well-educated workforce, with essential services sectors well represented, and an unemployment rate of 4.2%. As of December 2025, 8,045 residents are in work while the unemployment rate is 0.5% above Regional Vic.'s rate of 3.7%, and workforce participation is well beyond standard (66.9% compared to Regional Vic.'s 61.5%). Based on Census responses, a moderate 22.2% of residents were found to work from home, though Covid-19 lockdown impacts should be considered.

Employment among residents is concentrated in health care & social assistance, education & training, and construction. Conversely, agriculture, forestry & fishing shows lower representation at 0.6% versus the regional average of 7.5%. The predominantly residential area appears to offer limited employment opportunities locally, as indicated by the count of Census working population vs resident population.

Based on AreaSearch analysis of SALM and ABS data, over the 12 months to December 2025, labour force levels decreased by 0.9% while employment declined by 0.9%, with unemployment remaining essentially unchanged. In contrast, Regional Vic. experienced employment decline of 0.6% and labour force decline of 0.7%, with a 0.1 percentage point drop. Jobs and Skills Australia's national employment forecasts from May-25 can offer further insight into potential future demand within Belmont. These projections, covering five and ten-year periods, have been mapped against the local employment profile to estimate growth patterns. While national employment is forecast to expand by 6.6% over five years and 13.7% over ten years, growth rates differ significantly between industry sectors. Applying these industry-specific projections to Belmont's employment mix suggests local employment should increase by 6.9% over five years and 14.3% over ten years (please note this is a simple weighting extrapolation for illustrative purposes and does not take into account localised population projections).

The area's income profile falls below national averages based on AreaSearch analysis

According to AreaSearch's aggregation of the latest postcode level ATO data released for FY-23, the Belmont SA2 had a median income among taxpayers of $54,564 with the average level standing at $68,513. This is just above the national average and compares to levels of $50,954 and $62,728 across Regional Vic. respectively. Based on Wage Price Index growth of 8.25% since FY-23, current estimates would be approximately $59,066 (median) and $74,165 (average) as of September 2025. According to 2021 Census figures, household, family and personal incomes all rank modestly in Belmont, between the 36th and 49th percentiles. Income brackets indicate 32.4% of the population (4,968 individuals) fall within the $1,500 - 2,999 income range, reflecting patterns seen in the broader area where 30.3% similarly occupy this range. Housing affordability pressures are severe, with only 83.4% of income remaining, ranking at the 36th percentile, and 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

Dwelling structure within Belmont, as evaluated at the latest Census, comprised 77.7% houses and 22.4% other dwellings (semi-detached, apartments, 'other' dwellings), in comparison to Regional Vic.'s 90.1% houses and 9.9% other dwellings. Meanwhile, the level of home ownership within Belmont lagged that of Regional Vic. at 32.2%, with the remainder of dwellings either mortgaged (31.7%) or rented (36.1%). The median monthly mortgage repayment in the area was well above the Regional Vic. average at $1,700, while the median weekly rent figure was recorded at $350, compared to Regional Vic.'s $1,430 and $285. Nationally, Belmont's mortgage repayments are lower than the Australian average of $1,863, while rents are 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 dominate at 60.5% of all households, comprising 24.9% couples with children, 23.9% couples without children, and 10.4% single parent families. Non-family households make up the remaining 39.5%, with lone person households at 34.1% and group households comprising 5.5% of the total. The median household size of 2.3 people is 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

Educational attainment in Belmont significantly surpasses broader benchmarks, with 34.1% of residents aged 15+ holding university qualifications compared to 21.7% in Rest of Vic. and 27.3% in SA3 area. This substantial educational advantage positions the area strongly for knowledge-based opportunities. Bachelor degrees lead at 21.5%, followed by postgraduate qualifications (8.7%) and graduate diplomas (3.9%). Trade and technical skills feature prominently, with 33.6% of residents aged 15+ holding vocational credentials, including advanced diplomas (11.4%) and certificates (22.2%).

Educational participation is notably high, with 28.6% of residents currently enrolled in formal education. This includes 8.6% in primary education, 7.0% in tertiary education, and 6.4% pursuing secondary education.

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

Public transport analysis reveals 61 active transport stops operating within Belmont. These stops are serviced by 22 individual routes, collectively providing 2,087 weekly passenger trips. Transport accessibility is rated as good, with residents typically located 234 meters from the nearest transport stop. As a primarily residential area, most residents commute outward; the car remains the dominant mode at 90%. Vehicle ownership averages 1.2 per dwelling, which is below the regional average. Some 22.2% of residents work from home (2021 Census; may reflect COVID-19 conditions).

Service frequency averages 298 trips per day across all routes, equating to approximately 34 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 of mortality rates and chronic condition prevalence. Common health conditions are somewhat prevalent across both younger and older age cohorts, and the rate of private health cover just leads that of the average SA2 area at approximately 53% of the total population (~8,173 people), compared to 50.5% across Regional Vic..

The most common medical conditions in the area are mental health issues and asthma, impacting 10.8 and 8.7% of residents, respectively, while 66.3% declared themselves as completely clear of medical ailments compared to 63.4% across Regional Vic.. Working-age residents show an above average prevalence of chronic health conditions. The area has 15.9% of residents aged 65 and over (2,436 people), which is lower than the 23.9% in Regional 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 was found to be roughly in line with the wider region's average in terms of cultural diversity, with 86.9% of its population being citizens, 82.2% born in Australia, and 88.3% speaking English only at home. The main religion in Belmont is Christianity, which makes up 41.3% of people. However, the most apparent overrepresentation is in Hinduism, which comprises 2.4% of the population, compared to 0.7% across Regional Vic..

In terms of ancestry (country of birth of parents), the top three represented groups in Belmont are English, comprising 28.9% of the population, Australian, comprising 25.8% of the population, and Irish, comprising 10.8% of the population. Additionally, there are notable divergences in the representation of certain other ethnic groups: Dutch is notably overrepresented at 1.9% of Belmont (vs 1.7% regionally), Scottish at 9.0% (vs 8.8%) and Welsh at 0.6% (vs 0.4%).

Belmont's population is slightly younger than the national pattern

At 35 years, Belmont's median age is significantly below the Regional Vic. average of 43 as well as somewhat younger than the Australian median of 38. Compared to the Regional Vic. average, the 25 - 34 cohort is notably over-represented (22.1% locally), while 65 - 74 year-olds are under-represented (8.0%). This 25 - 34 concentration is well above the national 14.4%. Following the 2021 Census, younger residents have shifted the median age down by 1.7 years to 35. In particular, the 25 to 34 age group has grown from 17.4% to 22.1% of the population, while the 35 to 44 cohort increased from 13.0% to 15.4%. Conversely, the 45 to 54 cohort has declined from 11.2% to 9.4% and the 65 to 74 group dropped from 9.4% to 8.0%. Demographic modeling suggests Belmont's age profile will evolve significantly by 2041. The 25 to 34 cohort shows the strongest projected growth at 43%, adding 1,444 residents to reach 4,838. Conversely, the 65 to 74 and 55 to 64 cohorts are expected to experience population declines.