Belmont, MA is a great city to call home. With its high-end shops, restaurants and businesses, it offers residents a well-rounded lifestyle. The two bedroom rent in Belmont costs $3,060 compared to the US average of $1,430 which speaks to the cost of living that one can expect in this city. Many local companies call Belmont their home such as Boston Scientific Corporation, Allston Trading LLC and JM Coull Inc. Grocery Cost Index in Belmont is 118 versus 100 in the US which contributes to the higher cost of living than other cities. Despite this, many people find Belmont an excellent place to live due to its convenience and attractions.
Belmont has an unemployment rate of 5.2%. The US average is 6.0%.
Belmont has seen the job market increase by 4.1% over the last year. Future job growth over the next ten years is predicted to be 41.3%, which is higher than the US average of 33.5%.
Tax Rates for Belmont
- The Sales Tax Rate for Belmont is 6.3%. The US average is 7.3%.
- The Income Tax Rate for Belmont is 5.1%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Belmont
- The average income of a Belmont resident is $55,996 a year. The US average is $28,555 a year.
- The Median household income of a Belmont resident is $151,502 a year. The US average is $69,021 a year.