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Real Estate Prices & Overview

Belmont median real estate price is $105,097, which is less expensive than 98.0% of Virginia neighborhoods and 94.8% of all U.S. neighborhoods.

The average rental price in Belmont is currently $1,391, based on NeighborhoodScout's exclusive analysis. Rents here are currently lower in price than 84.4% of Virginia neighborhoods.

Belmont is a suburban neighborhood (based on population density) located in Roanoke, Virginia.

Belmont real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is renter occupied. Many of the residences in the Belmont neighborhood are relatively historic, built no later than 1939, and in some cases, quite a bit earlier. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Belmont. The current real estate vacancy rate here is 33.1%. This is higher than the rate of vacancies in 96.5% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

When you see a neighborhood for the first time, the most important thing is often the way it looks, like its homes and its setting. Some places look the same, but they only reveal their true character after living in them for a while because they contain a unique mix of occupational or cultural groups. This neighborhood is very unique in some important ways, according to NeighborhoodScout's exclusive exploration and analysis.

Occupations

The Belmont neighborhood stands out nationally for having a greater proportion of its residents active in the military than 97.4% of other U.S. neighborhoods. If you come here, you will notice military people active in their jobs, going to and from work, and in plain clothes out and about the neighborhood.

People

Single parenting is hard. But you don't have to tell the Belmont neighborhood about it; they already know. 20.1% of this neighborhood's households are run by single mothers, which is a higher concentration than NeighborhoodScout found in 97.1% of American neighborhoods. Further NeighborhoodScout research showed strong statistical correlations among high rates of children living in single parent households, and neighborhood crime, particularly violent crime, neighborhood poverty, and, importantly, the percentage of low weight births and rates of infant mortality.

Real Estate

Despite all of the residential real estate here in the Belmont neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 33.1%, which is higher than 96.5% of all U.S. neighborhoods.

In addition, if you find historic homes and neighborhoods attractive, you love the details, the history, and the charm, then you are sure to be interested in this neighborhood. With 63.9% of the residential real estate in the Belmont neighborhood built no later than 1939, and some built considerably earlier, this neighborhood has a greater concentration of historic residences than 97.6% of all neighborhoods in America. In this regard, this neighborhood truly stands out as special.

Migration / Stability

Some neighborhoods have more internal cohesiveness than others. While other neighborhoods feel like a collection of strangers who just happen to live near each other. Sometimes this comes down to not only the personalities of the people in a place, but how long people have been together in that neighborhood. NeighborhoodScout's research has revealed some interesting things about the rootedness of people in the Belmont neighborhood. In the Belmont neighborhood, a greater proportion of the residents living here today did not live here five years ago than is found in 99.0% of U.S. Neighborhoods. This neighborhood, more than almost any other in America, has new residents from other areas.

Diversity

Did you know that the Belmont neighborhood has more African and Sub-Saharan African ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.7% of this neighborhood's residents have African ancestry and 10.9% have Sub-Saharan African ancestry.

Belmont is also pretty special linguistically. Significantly, 2.6% of its residents five years old and above primarily speak African languages at home. While this may seem like a small percentage, it is higher than 96.5% of the neighborhoods in America.

The Neighbors

There are two complementary measures for understanding the income of a neighborhood's residents: the average and the extremes. While a neighborhood may be relatively wealthy overall, it is equally important to understand the rate of people - particularly children - who are living at or below the federal poverty line, which is extremely low income. Some neighborhoods with a lower average income may actually have a lower childhood poverty rate than another with a higher average income, and this helps us understand the conditions and character of a neighborhood.

The neighbors in the Belmont neighborhood in Roanoke are lower-middle income, making it a below average income neighborhood. NeighborhoodScout's research shows that this neighborhood has an income lower than 85.0% of U.S. neighborhoods. With 20.7% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 70.9% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Belmont neighborhood, 35.2% of the working population is employed in sales and service jobs, from major sales accounts, to working in fast food restaurants. The second most important occupational group in this neighborhood is executive, management, and professional occupations, with 23.2% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (22.9%), and 18.8% in clerical, assistant, and tech support occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Belmont neighborhood is English, spoken by 88.2% of households. Other important languages spoken here include Spanish, Italian and African languages.

Ethnicity / Ancestry

Culture is the shared learned behavior of peoples. Undeniably, different ethnicities and ancestries have different cultural traditions, and as a result, neighborhoods with concentrations of residents of one or another ethnicities or ancestries will express those cultures. It is what makes the North End in Boston so fun to visit for the Italian restaurants, bakeries, culture, and charm, and similarly, why people enjoy visiting Chinatown in San Francisco.

In the Belmont neighborhood in Roanoke, VA, residents most commonly identify their ethnicity or ancestry as Sub-Saharan African (10.9%). There are also a number of people of African ancestry (10.7%), and residents who report Mexican roots (9.7%), and some of the residents are also of Irish ancestry (6.5%), along with some English ancestry residents (5.8%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Belmont neighborhood spend under 15 minutes commuting one-way to work (40.1% of working residents), one of the shortest commutes across America.

Here most residents (73.1%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (12.1%) and 6.5% of residents also ride the bus for their daily commute. In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.

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