Belmont Belmont remains a primarily residential suburb, with little population growth since the 1950s. It is best known for the mansion-filled Belmont Hill neighborhood, although most residents live in more densely settled, low-lying areas around the Hill. There are three major commercial centers in the town: Belmont Center in the center, Cushing Square in the south, and Waverley Square in the west. Belmont is served by the commuter rail Fitchburg line, and its buses go to Harvard Square. The Commuter Rail stations, Waverley and Belmont Center, are located in the town center.