The settlement of Belmont was originally called Gum Springs with a post office built in 1884.

After completion of the Birmingham Division of the Illinois Central Railroad in 1907 the town grew considerably.

The town is concentrated along Mississippi Highway 25 in southern Tishomingo County, a few miles west of the Mississippi-Alabama state line.

Golden borders Belmont to the southeast, and Tishomingo lies a few miles to the north.

Mississippi Highway 366 intersects MS 25 in Belmont, and continues southeastward through Golden to the state line, eventually becoming 4th Street in Red Bay, Alabama.