Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 9,507, 3,453 total housing units (homes and apartments), and a median house value of $418,450, Belmont real estate is some of the most expensive in Michigan, although Belmont home values aren't among America's most expensive.
Single-family detached homes are the single most common housing type in Belmont, accounting for 98.19% of the town's housing units.
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Belmont. Owner-occupied housing accounts for 95.89% of Belmont's homes, and 83.78% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Belmont built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Belmont built between 2000 and later ( 19.39%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.42%). There's also some housing in Belmont built before 1939 ( 9.92%).
Appreciation rates for homes in Belmont have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 110.88%, which ranks in the top 30% nationwide. This equates to an annual average Belmont house appreciation rate of 7.75%.
Over the last year, Belmont appreciation rates have trailed the rest of the nation. In the last twelve months, Belmont's appreciation rate has been 4.27%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Belmont were at 3.40%, which equates to an annual appreciation rate of 14.32%.
Importantly, this makes Belmont one of the highest appreciating communities in the nation for the latest quarter, and may signal the town's near-future real estate investment strength.
Relative to Michigan, our data show that Belmont's latest annual appreciation rate is lower than 70% of the other cities and towns in Michigan.
$418,450
for Michigan
for nation
3,453
$1,809 / per month