Belmont
Statistical Area - sa2

Population growth drivers in Belmont are strong compared to national averages based on AreaSearch's ranking of recent, and medium to long-term trends

Belmont's population was 15,222 as of August 2025, according to AreaSearch's analysis. This marked an increase of 205 people, a 1.4% rise from the 2021 Census figure of 15,017. The growth is inferred from ABS data showing an estimated resident population of 15,137 in June 2024 and an additional 112 validated new addresses since the Census date. This results in a population density of 1,624 persons per square kilometer, higher than the average seen across national locations assessed by AreaSearch. Overseas migration contributed approximately 73.8% of overall population gains during recent periods, driving primary growth in the area.

AreaSearch adopts 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 uses the VIC State Government's Regional/LGA projections from 2023, adjusting them 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. Future demographic trends anticipate significant population increase in the top quartile of Australian non-metropolitan areas. Belmont is expected to gain an additional 3,540 persons by 2041, based on the latest population numbers, recording a total growth of 22.7% 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

Belmont has averaged approximately 56 new dwelling approvals annually. Over the past five financial years, from FY21 to FY25284 homes were approved, with an additional 4 approved so far in FY26. On average, these new dwellings have resulted in around 0.6 new residents per year.

This pace of supply has kept up with or exceeded demand, providing ample buyer choices and capacity for population growth beyond current forecasts. The average construction cost value of these new homes is $422,000, which aligns with regional patterns. In FY26, there have been $13.4 million in commercial approvals, indicating moderate levels of commercial development in Belmont compared to the rest of Victoria. Historically, Belmont has shown substantially reduced construction rates, at 64.0% below the regional average per person. This constrained new construction typically reinforces demand and pricing for existing homes. The new development in Belmont consists of 32.0% standalone homes and 68.0% medium to high-density housing.

This shift towards denser development offers accessible entry options, appealing to downsizers, investors, and entry-level buyers. This represents a notable change from the area's existing housing stock, which is currently 78.0% houses. This trend reflects decreasing availability of developable sites and changing lifestyles that require more diverse and affordable housing options. With around 538 people per dwelling approval, Belmont indicates a developed market. According to projections, Belmont is expected to grow by 3,452 residents by the year 2041. If current development rates continue, there may be a struggle to match population growth with housing supply, potentially leading to increased buyer competition and supporting price increases.

Belmont has emerging levels of nearby infrastructure activity, ranking in the 38thth percentile nationally

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

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

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

Belmont's workforce is highly educated with significant representation in essential services sectors. The unemployment rate was 3.9% as of June 2025, with an estimated employment growth of 2.3% over the previous year.

In June 2025, 8,263 residents were employed, with an unemployment rate of 3.9%, 0.1% higher than Rest of Vic.'s rate of 3.8%. Workforce participation was 63.0%, above Rest of Vic.'s 57.4%. Key employment sectors included health care & social assistance, education & training, and construction.

Conversely, agriculture, forestry & fishing had lower representation at 0.6% compared to the regional average of 7.5%. Over the year to June 2025, employment increased by 2.3%, matching labour force growth and keeping unemployment stable. This contrasted with Rest of Vic., where employment fell by 0.9%, labour force contracted by 0.4%, and unemployment rose by 0.4 percentage points. State-level data to Sep-25 showed VIC employment grew by 1.08% year-on-year, adding 39,880 jobs, with the state unemployment rate at 4.7%. National employment forecasts from May 2025 projected national growth of 6.6% over five years and 13.7% over ten years. Applying these projections to Belmont's employment mix suggested local growth of approximately 6.9% over five years and 14.3% over ten years.

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 financial year ended June 2022, Belmont had a median income among taxpayers of $51,955 with the average level standing at $67,194. This is just above the national average and compares to levels of $48,741 and $60,693 across Rest of Vic. respectively. Based on Wage Price Index growth of 10.11% since financial year ended June 2022, current estimates would be approximately $57,208 (median) and $73,987 (average) as of March 2025. According to Australian Bureau of Statistics Census figures for 2021, household, family and personal incomes all rank modestly in Belmont, between the 36th and 49th percentiles. Income brackets indicate 32.4% of the population (4,931 individuals) fall within the $1,500 - 2,999 income range, reflecting patterns seen the broader area where 30.3% similarly occupy this range. Housing affordability pressures are severe, with only 83.4% of income remaining after housing costs, ranking at the 36th percentile and the area's Socio-Economic Indexes for Areas 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

Belmont's dwelling structures, as per the latest Census, consisted of 77.7% houses and 22.4% other dwellings. In comparison, Non-Metro Vic.'s figures were 84.6% houses and 15.4% other dwellings. Home ownership in Belmont was 32.2%, similar to Non-Metro Vic., with the rest being mortgaged (31.7%) or rented (36.1%). The median monthly mortgage repayment in Belmont was $1,700, below Non-Metro Vic.'s average of $1,712 and the national average of $1,863. The median weekly rent in Belmont was $350, compared to Non-Metro Vic.'s $335 and 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 24.9% couples with children, 23.9% couples without children, and 10.4% single parent families. Non-family households account for the remaining 39.5%, with lone person households at 34.1% and group households comprising 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 benchmarks. Among residents aged 15 and above, 34.1% have 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 (8.7%) and graduate diplomas (3.9%). Vocational credentials are also prevalent, with 33.6% of residents holding them, including advanced diplomas (11.4%) and certificates (22.2%). Educational participation is 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. Belmont has a robust network of seven schools educating approximately 2,885 students, with above-average socio-educational conditions (ICSEA: 1052). The educational mix includes five primary, one secondary, and one K-12 school.

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

The analysis of public transportation in Belmont indicates that there are currently 61 operational transit stops serving a variety of bus routes. These stops are covered by 12 different routes, together facilitating approximately 1,580 weekly passenger trips. The accessibility to transport is deemed good, with residents generally residing around 233 meters away from the nearest stop.

On average, across all routes, there are about 225 trips per day, translating to roughly 25 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.

Common health conditions are somewhat prevalent among both younger and older age cohorts. Approximately 53% of Belmont's total population (~8,128 people) has private health cover. Mental health issues impact 10.8% of residents, while asthma affects 8.7%. 66.3% of residents declare themselves completely clear of medical ailments, compared to 65.9% across the rest of Victoria. As of March 2021, 16.7% of Belmont's residents are aged 65 and over (2,546 people), broadly in line with the general population's health profile.

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 broader regional average, with 86.9% being citizens, 82.2% born in Australia, and 88.3% speaking English only at home. Christianity is the predominant religion in Belmont, comprising 41.3% of the population. Hinduism shows overrepresentation in Belmont at 2.4%, compared to 1.7% regionally.

The top three ancestry groups are English (28.9%), Australian (25.8%), and Irish (10.8%). Notable divergences exist for Dutch (Belmont: 1.9%, regional: 2.0%), Scottish (Belmont: 9.0%, regional: 8.3%) and Welsh (Belmont: 0.6%, regional: 0.5%).

Belmont's population is slightly younger than the national pattern

The median age in Belmont is 36 years, significantly below Rest of Vic.'s average of 43 years and somewhat younger than Australia's national average of 38 years. The 25-34 age group constitutes 21.1% of the population in Belmont, compared to Rest of Vic., while the 65-74 cohort is less prevalent at 8.4%. This concentration of the 25-34 age group is well above the national average of 14.5%. Post-2021 Census data shows that the area has become younger, with median age dropping from 37 to 36 years between censuses. Specifically, the 25 to 34 age group grew from 17.4% to 21.1%, while the 35 to 44 cohort increased from 13.0% to 14.8%. Conversely, the 45 to 54 cohort declined from 11.2% to 9.8%, and the 55 to 64 group dropped from 10.3% to 9.2%. By 2041, Belmont is expected to see notable shifts in its age composition, with the 25-34 age cohort projected to increase markedly by 1,621 people (50%) from 3,216 to 4,838. Conversely, population declines are projected for the 65-74 and 55-64 cohorts.