Quick facts: Belmont, CA

Quick Facts

127.6
Cost of Living
above US average
26,773
Population
16.4
Crime Rate per 1000
below US average
$185,944
Median Income
above US average
$1,388,000
Median House Price
above US average
$3060.18
Average Rent
above US average
2%
Poverty Rate
below US average
3.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $185,944.

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Income Needed to Buy

βœ— Stretch
$435k/year
Based on $1,388,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $435k vs median $185,944
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Income Needed to Rent

βœ“ Affordable
$131k/year
Based on $3060.18/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($185,944) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Belmont, CA

Belmont, California, is a charming suburban city located in San Mateo County, nestled along the San Francisco Peninsula. With a population of approximately 27,000 residents, it offers a blend of residential tranquility and access to urban amenities. The city is characterized by its picturesque hills, scenic views, and well-maintained parks, including the popular Twin Pines Park, ideal for recreational activities. Belmont's real estate market features a variety of housing options, from single-family homes to modern condos, making it attractive for families and professionals alike. The community is known for its excellent school district, which includes several highly-rated public and private schools. The city enjoys a mild Mediterranean climate, providing ample opportunities for outdoor activities year-round. Belmont is conveniently located near major highways and is just a short drive from both San Francisco and Silicon Valley, making it a desirable location for commuters. Local amenities include a variety of dining options, shops, and services, with nearby attractions such as Crystal Springs Reservoir offering hiking and nature experiences. Overall, Belmont combines a small-town feel with the convenience of urban accessibility.

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