The first Belmont, MA real estate deal came to 13 pounds, 7 shillings and 6 pence. That amount, paid in 1638 for a sizable spread of land of which today's Belmont–"the town of homes"–is only a portion, was about the annual salary of a skilled housekeeper. Property values have increased since then.
Founded on March 18, 1859, Belmont's farming population disappeared in the early 1900s as artists, educators, doctors and scientists moved in. Belmont, MA real estate is almost exclusively residential. The town is known, in fact, as "the town of homes." It has one high school, founded in 1865, a middle school, and several elementary schools.
Facts Tied to Belmont, MA Real Estate
The median age in town in 2000 was 40, the median income $80,000, and the median house value $400,000. Belmont's population of about 26,000 is highly educated. Belmont's streets are safe. One crime index puts it at 49.8 on a scale with a national average of 330.6.
Belmont, MA real estate is more transaction oriented than construction oriented. In 1996 six permits were issued for single-family new homes, at an average cost of about $240,000 each. In 2001 seven permits were issued, at a cost of $498,000 each. In 2002 the figures were two permits and an average cost of $827,000. There are some 9,800 occupied homes in Belmont, some 6,200 of which were built before 1939. More than 100 are valued at more than $1 million.