Belmont

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

According to investigations by AreaSearch, the population of Belmont stands at approximately 15,337 as of May 2026. This represents an expansion of 320 individuals (2.1%) relative to the 2021 Census, which recorded 15,017 residents. This population shift is calculated utilizing the ABS estimated resident population of 15,227 from June 2025 alongside 131 validated new addresses identified since the census. The resulting density is 1,636 persons per square kilometer, which exceeds the typical density recorded across other analyzed locations nationwide. The 2.1% population growth in Belmont since the census is within 2.2 percentage points of the Rest of Vic. (4.3%), showing healthy growth dynamics. This growth was largely driven by overseas migration, which made up roughly 73.6% of the overall population rise in recent times.

Projections from ABS and Geoscience Australia released in 2024, using 2022 as a baseline, are applied by AreaSearch for each SA2 region. In cases where data is unavailable for specific SA2 locations, AreaSearch adopts the Regional/LGA projections from the VIC State Government released in 2023, modifying them via weighted aggregation of population expansion from the LGA level down to SA2. Growth trends by age cohort from these aggregations are also projected forward for all locations from 2032 to 2041. In terms of future demographics, a substantial rise in population is anticipated, placing the locality in the top quartile of Australian non-metropolitan zones. Based on the most recent annual ERP statistics, the area is projected to grow by 3,352 individuals to 2041, representing a total increase of 21.1% over the 16 years.

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

On average, Belmont has recorded about 56 new residential approvals each year, totaling 284 home approvals over the last 5 financial years (between FY-21 and FY-25) and 31 during the current FY-26. Because there is a historical average of only 0.5 new residents per year per constructed dwelling over the past 5 financial years (between FY-21 and FY-25), the incoming housing supply is matching or outstripping demand, providing buyers with many choices and allowing for population growth beyond current estimates, with new dwellings being built at an average value of $255,000, aligning with regional averages. Additionally, commercial projects valued at $13.4 million have been approved this financial year, showing a moderate level of commercial construction.

Compared to the Rest of Vic., Belmont exhibits much lower levels of construction, sitting 64.0% below the regional average per person. This limited construction activity typically supports demand and maintains pricing for existing residences. New builds consist of 32.0% standalone houses and 68.0% medium and high-density dwellings. This trend toward denser accommodation options provides accessible entry points and appeals to downsizers, investors, and first-time buyers. This represents a distinct change from the current housing stock (where 78.0% are houses), illustrating a decrease in developable land, evolving lifestyle preferences, and the demand for more varied, economical housing. With roughly 542 people per dwelling approval, Belmont presents a mature market.

Looking forward, Belmont is projected to add 3,242 residents through to 2041 (starting from the most recent AreaSearch quarterly projection). At current building rates, residential supply might struggle to keep pace with this population increase, which could intensify competition among buyers and support rising property prices.

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

Changes to local infrastructure, major developments, and council planning schemes are key drivers of local performance. AreaSearch has identified 28 projects that are expected to impact the local community. Key developments include Wandana Estate, Coles Belmont Redevelopment, Epworth Geelong Innovation and Education Precinct, and 29 Evans Street Townhouses, with the most relevant ones detailed in the list below.

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.

Despite maintaining a low unemployment rate of 4.0%, Belmont has experienced recent job losses, resulting in a below average employment performance ranking when compared nationally

Belmont has a workforce with high levels of education, strong representation in essential service sectors, and an unemployment rate of only 4.0%. As of March 2026, there are 8,068 employed residents. The unemployment rate sits 0.3% higher than the Regional Vic. average of 3.7%, while the participation rate is significantly higher than usual (66.9% compared to Regional Vic.'s 61.1%). Census data shows that a moderate 22.2% of residents worked from home, although this may have been influenced by COVID-19 pandemic restrictions.

The resident workforce is mostly employed in healthcare & social assistance, education & training, and construction. By contrast, agriculture, forestry & fishing is underrepresented at 0.6% compared to the regional benchmark of 7.5%. The heavily residential nature of the area means local employment options appear limited, as seen when comparing the number of working residents to local job numbers in the Census.

Analysis by AreaSearch using SALM and ABS data indicates that between the 12 months ending March 2026, the labour force shrank by 0.9% and employment dropped by 0.5%, which caused the unemployment rate to decline by 0.4 percentage points. Meanwhile, the Regional Vic. area saw employment fall by 0.1% and the labour force decrease by 0.3%, leading to a 0.2 percentage point reduction in unemployment. Jobs and Skills Australia's national employment forecasts released in May-25 provide additional perspective on prospective demand in Belmont. These forecasts span five and ten-year horizons and have been overlaid with local employment data to estimate future growth trajectories. National employment is projected to grow by 6.6% over five years and by 13.7% over ten years, though expansion varies considerably across different industry sectors. When these sector-specific forecasts are applied to Belmont's current employment composition, local employment is expected to rise by 6.9% over five years and by 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 analysis of postcode-level ATO data released for financial year 2023, taxpayers in the Belmont SA2 recorded a median income of $54,564 and an average income of $68,513. These figures are slightly higher than the national averages and compare to median and average incomes of $50,954 and $62,728 across Regional Vic. respectively. Factoring in Wage Price Index growth of 9.62% since financial year 2023, estimated figures would be around $59,813 (median) and $75,104 (average) as of March 2026. Based on 2021 Census data, household, family, and personal incomes in Belmont are modest, falling between the 36th and 49th percentiles. Income distribution shows that 32.4% of the population (4,969 people) have incomes in the $1,500 - 2,999 range, which is similar to the broader region where 30.3% of individuals are in this bracket. Affordability pressures are high, with only 83.4% of income remaining after housing costs, ranking in the 36th percentile, while the area's SEIFA income score falls in the 5th decile.

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

Residential property types in Belmont at the time of the last Census consisted of 77.7% houses and 22.4% other dwelling types (such as semi-detached homes, apartments, and alternative housing), compared to Regional Vic. where houses made up 90.1% and other dwellings made up 9.9%. Home ownership in Belmont was lower than the regional rate, standing at 32.2%, with the remaining properties either mortgaged (31.7%) or rented (36.1%). The median monthly mortgage payment of $1,700 was higher than the Regional Vic. average of $1,430, and the median weekly rent was $350 compared to the Regional Vic. median of $285. Nationally, Belmont's mortgage payments are below the Australian average of $1,863, and weekly 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

Families make up the majority of households at 60.5%, which includes couples with children at 24.9%, couples without children at 23.9%, and single parent households at 10.4%. Non-family households account for the remaining 39.5%, with single-person households representing 34.1% and group households making up 5.5%. The median household size is 2.3 individuals, which is slightly 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

Academic achievement in Belmont is significantly higher than broader benchmarks, with 34.1% of residents aged 15+ holding a university degree, compared to 21.7% in the Rest of Vic. and 27.3% in the SA3 region. This educational profile positions the community well for professional services and knowledge-based roles. Bachelor degrees are the most common qualification at 21.5%, followed by postgraduate degrees (8.7%) and graduate diplomas (3.9%). Vocational training is also common, with 33.6% of residents aged 15+ holding trade or technical credentials, including advanced diplomas (11.4%) and certificates (22.2%).

Student participation rates are high, with 28.6% of the population currently undertaking formal study. This student group includes 8.6% in primary school, 7.0% in higher education, and 6.4% in high school.

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

Public transport services in Belmont include 61 active stops. These stops are served by 22 different routes, which provide a total of 2,087 weekly passenger trips. Access to public transport is rated as good, with residents living an average of 234 meters from the nearest stop. Due to the area's residential focus, the majority of workers commute to other areas, and private vehicles remain the main transport choice for 90% of commuters. Dwellings own an average of 1.2 vehicles, which is lower than the regional average. According to the 2021 Census, 22.2% of residents worked from home, which may be a reflection of COVID-19 conditions at the time.

Public transport services run an average of 298 trips per day across all routes, which averages out to approximately 34 weekly trips at each stop.

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

Belmont experiences notable health difficulties, as indicated by AreaSearch's evaluation of mortality rates and chronic health conditions, which are somewhat common in both younger and older populations. The rate of private health insurance coverage is slightly higher than the average SA2 region at approximately 53% of the population (~8,174 people), compared to 50.5% in Regional Vic.

Mental health conditions and asthma were the most frequent medical diagnoses, affecting 10.8 and 8.7% of residents, respectively, while 66.3% of the population reported no chronic health conditions compared to 63.4% across Regional Vic. Residents of working age exhibit higher-than-average rates of chronic conditions. People aged 65 and older make up 16.4% of the population (2,521 individuals), which is below the Regional Vic. level of 23.9%, with overall health rankings remaining close to national averages.

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

Cultural diversity in Belmont is generally consistent with regional averages, with citizens making up 86.9% of the population, 82.2% of residents born in Australia, and 88.3% using only English at home. Christianity is the dominant religion, practiced by 41.3% of the community. The most notable religious difference is in Hinduism, which represents 2.4% of the population, compared to 0.7% across Regional Vic.

In terms of ancestry (the birthplace of residents' parents), the three most common backgrounds in Belmont are English at 28.9%, Australian at 25.8%, and Irish at 10.8%. There are also small differences in other groups: Dutch ancestry is represented at 1.9% in Belmont (compared to 1.7% regionally), Scottish is at 9.0% (compared to 8.8%), and Welsh is at 0.6% (compared to 0.4%).

Belmont's population is slightly younger than the national pattern

The median age of 36 years in Belmont is notably lower than the Regional Vic. median of 43 and slightly below the Australian average of 38 years. The 25 - 34 age bracket is highly represented at 20.6% compared to Regional Vic., while the 65 - 74 bracket is smaller at 8.2%. The concentration of residents aged 25 - 34 is also well above the national average of 14.6%. Data since the 2021 Census shows the area's population is getting younger, with the median age falling 1.3 years from 37 to 36. The 25 to 34 age group rose from 17.4% to 20.6% of the population, and the 35 to 44 cohort grew from 13.0% to 15.7%. Meanwhile, the 45 to 54 cohort fell from 11.2% to 9.7% and the 65 to 74 cohort decreased from 9.4% to 8.2%. By 2041, Belmont is projected to experience demographic shifts, with the 25 to 34 age group expected to grow by 1,340 people (42%) from 3,154 to 4,495, while the 65 to 74 and 55 to 64 groups are projected to contract.