Belmont, MA

Very High · 238

Massachusetts · Population 27,009 · Updated March 2026

$2,387
Median Rent / Month
$178,188
Median Income
$1,108,800
Median Home Value
$2,720
Owner Costs / Month

Affordability

How far your income goes in Belmont

16.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Massachusetts

State-level tax rates that affect your costs

9.0%
Income Tax (Top Rate)
6.25%
Sales Tax
1.15%
Property Tax Rate

Estimated Annual Costs

$28,644
Annual Rent
$16,037
State Income Tax
$12,751
Property Tax (est.)

Cost of Living Overview

Belmont has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 238 (where 100 equals the national median), Belmont residents can expect to pay median rent of $2,387/month while earning a median household income of $178,188/year.

The median home value in Belmont, MA is $1,108,800, with typical monthly owner costs around $2,720 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Massachusetts's top income tax rate of 9.0% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.25% sales tax rate and 1.15% effective property tax rate, the overall tax environment is a factor in the total cost of living in Belmont.

Frequently Asked Questions

Common questions about living costs in Belmont

What is the cost of living in Belmont, MA?
The cost of living index in Belmont, MA is 238 (US average = 100). Median monthly rent is $2,387, median household income is $178,188/year, and the median home value is $1,108,800.
Is Belmont, MA affordable?
No, Belmont is more expensive than the national average with a cost index of 238. The rent-to-income ratio is 16.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Belmont, MA?
The median gross rent in Belmont, MA is $2,387 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $28,644.
What is the median household income in Belmont?
The median household income in Belmont, MA is $178,188 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Massachusetts?
Massachusetts has a top income tax rate of 9.0%, a sales tax of 6.25%, and an effective property tax rate of 1.15%.