Belmont, VA is a great place to live with a cost of living that is still relatively affordable. The two-bedroom rent in Belmont, VA is around $2,060 which is slightly higher than the US average of $1,430. Another factor to consider when evaluating the cost of living in Belmont is the Grocery Cost Index which is 113 versus 100 in the US.
Local companies like Belmont Farm are enjoyed by many residents and offer agricultural products as well as recreational activities for families to enjoy. There are also places like Youth Sports Complex that offers various sports leagues and special events for all ages. Other popular attractions include Belmont Golf Course for those who love golfing or enjoying nature at Merrimac Farm Wildlife Management Area. Landmarks like Alwig House Historic Site and Lincoln Hall are highlights of historical importance and offer unique insight into the area's rich history.
Belmont has an unemployment rate of 4.1%. The US average is 6.0%.
Belmont has seen the job market increase by 1.9% over the last year. Future job growth over the next ten years is predicted to be 43.0%, which is higher than the US average of 33.5%.
Tax Rates for Belmont
- The Sales Tax Rate for Belmont is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Belmont is 5.8%. 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 $65,747 a year. The US average is $28,555 a year.
- The Median household income of a Belmont resident is $198,220 a year. The US average is $69,021 a year.