| Index | Belmont | California | National |
| Cost of living | 284 | 141 | 100 |
| Groceries | 110 | 111 | 100 |
| Health care | 111 | 116 | 100 |
| Housing | 683 | 197 | 100 |
| Transportation | 114 | 118 | 100 |
| Utilities | 113 | 119 | 100 |
| Lifestyle & Entertainment | 120 | 120 | 100 |
| Household Items | 112 | 111 | 100 |
| Education & Childcare | 120 | 127 | 100 |
The cost of living in Belmont affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Belmont is 284, which is 184% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
If you're in pursuit of an economical living environment, Belmont may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Belmont falls within this bracket.
Housing costs make up a big chunk of the cost of living in Belmont, and they usually eat into a large part of your take-home pay. Unfortunately, in this area, both buying a home and renting one costs 583% more than the average city. This includes stuff like home prices, rent, mortgage rates, and insurance.
The routine items you regularly buy for your home, such as cleaning supplies, personal care products, clothing basics, and kitchen essentials, make up 8% of the cost of living index. In Belmont, these items cost 11.5% more than the national average, making day-to-day living a bit more expensive.
The surge in grocery costs is indeed alarming, especially when groceries make up a large portion of your monthly expenditures. Over the past two years, there has been an inflation of over 10% in grocery prices. Unfortunately, Belmont does not fare better, with grocery expenses coming in at 10.1% higher than the national average.
When it comes to knowing a city, its residents are the experts. We conducted a survey with 7 locals to understand their opinions on the cost of living in Belmont. The results indicated that 14% found it reasonably priced with decreasing prices of goods and services, while 86% viewed it as quite expensive, with increasing prices.
Is Belmont an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Belmont is 763% higher than the national average, while the average monthly rent prices are 162.9% higher than average. The affordability of any location can also be influenced by median income levels. Belmont has a median household income of $238,428, which is 193.2% higher than the national average.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Belmont, the utilities index registers 13.1% higher than the national average.
Taxes: Cities that impose higher taxes, including sales and income taxes, can contribute to an escalated cost of living. The added expense of taxes on everyday goods like clothing and food naturally results in higher overall costs. Similarly, a higher income tax rate can further elevate the cost of living. In Belmont, the general sales tax rate starts at 7.25%, and income tax rates begin at 1%.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
The cost of living data for Belmont shown above is based on a U.S. average baseline score of 100, making it easier to compare how far your dollar may go from one city to another. Housing uses U.S. Census home price and rental data, while all remaining values are AI-assisted estimates informed by regional pricing, climate, transportation dynamics, and local economic factors. These scores are best used for directional comparisons between cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
| Housing index | |
| Transportation index | |
| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $340,146 | $28,346 | $7,936 | $10,205 |
| Renters | $151,098 | $12,592 | $3,525 | $4,533 |
| State | General Sales Tax | With Max Surtax |
| California | 7.25% | 10.5% |
| State | Income Tax (Low) | Income Tax (High) |
| California | 1% | 13.3% |
| City | Population | Cost of Living Index | National Avg. |
| Mountain View CDP, CA | 2,675 | 134 | 33.5% |
| Cherryland, CA | 16,430 | 160 | 60.4% |
| Ashland, CA | 24,254 | 162 | 62.0% |
| Hayward, CA | 163,491 | 173 | 72.6% |
| San Lorenzo, CA | 31,094 | 169 | 69.4% |
| Belmont, CA | 28,035 | 284 | 184.4% |
| City | Population | Cost of Living Index | National Avg. |
| Glen Cove, NY | 28,057 | 156 | 55.9% |
| Lake Jackson, TX | 28,060 | 103 | 3.5% |
| Wakefield, MA | 28,061 | 158 | 57.8% |
| Bixby, OK | 28,000 | 104 | 4.3% |
| Plum, PA | 28,078 | 99 | 1.5% |
| Belmont, CA | 28,035 | 284 | 184.4% |
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