The median income in Belmont has shown an upward trend, increasing from $58,909 in 2013 to $69,558 in 2022. This represents an overall increase of about 18% over nine years. A significant increase in median income occurred in 2021 to $80,486, followed by a decrease in 2022. This could be related to economic disruptions caused by the COVID-19 pandemic and subsequent recovery efforts.

While the median income has generally increased, the population has decreased from 4,032 in 2013 to 3,344 in 2022, a decline of about 17%. This combination of rising incomes and declining population could suggest various scenarios, such as outmigration of lower-income residents, economic improvements benefiting the remaining residents, or changes in local industry or job market favoring higher-paying jobs.

The persistent "Low Diversity" classification of Belmont contrasts with national trends towards increasing diversity in many areas of the United States. The upward trend in median income aligns with broader economic growth seen in many parts of the country over the past decade. The population decline in Belmont goes against the trend of overall population growth in the United States, suggesting local factors may be influencing population dynamics.

Belmont presents a picture of a stable, predominantly white community with gradually increasing median incomes but a declining population. While there are slight indications of increasing diversity, these changes are minimal and have not significantly altered the demographic makeup of the area over the past decade. The economic improvements, as evidenced by rising median incomes, have not translated into population growth, suggesting complex local dynamics at play.