Belmont One of the Most Expensive Housing Markets

Belmont has one of the most expensive housing markets in both California and the U.S., according to a new housing study.

In fact, the report, released on Wednesday, shows Belmont ranks 10th out of 194 housing markets surveyed in the state, and 14th out of 2,319 markets nationwide.

The survey -- Coldwell Banker's second annual Home Listing Report -- looks at the average listing price of four-bedroom, two-bath homes in more than 2,300 markets throughout the country.

The average price of a home in Belmont is $1,010,030.00, according to the report.

In comparison, San Carlos -- where a house costs an average of $1,108,417.00 -- comes in as the seventh most expensive market in the state and the 10th in the country.

According to the report, the median household income in Belmont is $102,912. In addition, 80 percent of residents are married, and families with children reside in 29 percent of Belmont households.

Half of Belmont's population commutes 24 minutes or more to work. Eighty-two percent of residents hold white collar jobs while 18 percent of residents hold blue collar jobs, the report states.

The median age of homes in Belmont is 36 years, with 56 percent of those homes owned, 39 percent rented and 5 percent unoccupied, according to the report.

In the previous year, 20 Belmont properties were sold. The median sale price of a home in Belmont in the previous year was $745,000.