Quick facts: Hialeah, FL

Quick Facts

107.5
Cost of Living
above US average
220,292
Population
19.51
Crime Rate per 1000
below US average
$49,531
Median Income
below US average
$534,500
Median House Price
above US average
$2141
Average Rent
above US average
14%
Poverty Rate
above US average
2.8%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $49,531.

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Income Needed to Buy

βœ— Stretch
$168k/year
Based on $534,500 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $168k vs median $49,531
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Income Needed to Rent

⚠ Stretch
$92k/year
Based on $2141/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $92k vs median $49,531
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Hialeah, FL

Hialeah is a vibrant city located within Miami-Dade County in the state of Florida. It is known for its rich cultural heritage, predominantly influenced by the Hispanic community, especially Cuban Americans. Hialeah boasts a population of over 230,000, making it one of the largest cities in Florida. The city features a mix of residential and commercial areas, with numerous shopping centers, restaurants, and parks, contributing to a lively atmosphere. Hialeah is renowned for its strong economy, with key sectors including retail, healthcare, and manufacturing. Additionally, it is home to a variety of recreational facilities, including parks such as Hialeah Park, known for its historic horse racing. Hialeah's streets are often filled with the sounds of Latin music, showcasing its cultural vibrancy, while local events and festivals celebrate its diverse heritage. Education is also a priority here, with several public and private schools offering quality education options. Overall, Hialeah is a dynamic city that reflects the unique cultural mosaic of South Florida.

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