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Hialeah Mortgage Facts

Hialeah Introduction

Hialeah, a part of Miami-Dade County, is part of the Miami metropolitan area, in southeast Florida. It is also the fifth largest city in the State of Florida. Hialeah is located approximately 20 minutes northwest of Miami, 25 minutes northwest of Miami Beach, and 20 minutes southwest of North Miami.

Hialeah Real Estate

As of 2005, the U.S. Census Bureau estimated that there were over 73,000 housing units in Hialeah. 53.3% of these were owner occupied, which is below the national average. A very small 2.2% of Hialeah housing was vacant, which was well below the national average.

Over 40% of Hialeah's housing was built in the 1960s and 1970s. 23.1% was built prior to that, with the remainder having been built since 1980. Over 75% of Hialeah homes have 4 or more rooms and 2 or more bedrooms. Hialeah homes are typically heated by electricity.

An owner occupied home in Hialeah had a median value of $202,300 in 2005. This was above the national average at the time, and represented significant appreciation from the 2000 census when the value was $113,900. By the beginning of June, 2007, the median sale price for a home in Hialeah was $271,168.

Median monthly owner costs for a home in Hialeah, Florida were $1,251 as of 2005, slightly below the national average. 74.9% of the owner-occupied housing units in Hialeah have a mortgage loan. Less than 10% of Hialeah home owners have tapped into the equity of their homes with home equity loans and/or second mortgages.

Hialeah Property Taxes

The Miami-Dade County Tax Collector collects the property taxes for Hialeah. The The Miami-Dade County Property Appraiser is responsible for determining the value of all property within Miami-Dade county for tax purposes. As of 2005, the median annual property tax bill for an owner occupied home in Hialeah, Florida was $1,617.

Hialeah Schools

The City of Hialeah is served by Miami-Dade County Public Schools. In total there are over 25 schools and 35,000 students being served in Hialeah. Many of Hialeah's schools have been recognized by the "Florida School Recognition Program", including Hialeah Gardens Elementary School, Hialeah Middle School, and Hialeah-Miami Lakes Senior High School.

Private schools in and around Hialeah include: Asbury Christian School, Bethel Baptist Christian School, Champagnat Catholic School, Christ-Mar Ii Kindergarten, Christ-Mar School, Dade Christian School, Faith Lutheran School, First Baptist School, Horeb Christian School, Immaculate Conception School, Little Angels Christian School, Monsignor Edward Pace High School, Muskateers Academy Inc, Nuestra Senora De Lourdes Nurs, Our Lady Of Charity Private School, Paradise Christian School, Roblanca Academy, St John The Apostle School, St Luke Christian School, The Glory Of God Christian School, Three Flags Academy, Trinity Christian Academy, and West Hialeah Baptist Kindergarten.

One college, Miami Dade College Hialeah Campus, also serves Hialeah.

Hialeah Economy

The economy of Hialeah is inextricably intertwined with that of Miami-Dade County. The largest sectors of the Miami-Dade economy from an employment standpoint are:

  • Administrative & support & waste management & remediation service
  • Retail trade
  • Health care & social assistance
  • Accommodation & food services
  • Wholesale trade
  • Professional, scientific, & technical services
  • Manufacturing
  • Other services (except public administration)

Telemundo, the second-largest Spanish language television network in the United States, is headquartered in Hialeah.

In 2005, the median household income Hialeah was $30,271 according to US Census Bureau estimates. This was about 1/3 below the national average.

Hialeah and Florida Mortgage and/or Real Estate Organizations

Hialeah Mortgage Statistics

CategoryValue
Homes With No Mortgage28%
With A Mortgage72%
First Mortgage Only58%
Second Mortgage or Home Equity Loan14%
Second Mortgage Only9%
Home Equity Loan Only5%

Hialeah Housing Expenses

CategoryValue
Owner Costs as % of Income25.1%
Median Real Estate Taxes (2000)$1,392

Hialeah Household Size

CategoryValue
Total Occupied70,763
1-Person Households15%
2-Person Households26%
3-Person Households22%
4-Person Households19%
5-Person Households10%
6-Person Households5%
7+-Person Households3%

Hialeah Housing Stock

CategoryValue
Median Year Built1973
Median Year Built (Owner Occupied)1971
Median Year Built (Renter Occupied)1974

Hialeah Home Heating

CategoryValue
Using Utility Co. Gas Heat4%
Using Bottled/Tank Gas Heat1%
Using Electric Heat91%
Using Oil Heat0%
Using Coal0%
Using Wood Heating0%
Using Solar Heat0%
Other Heating0%
No Heating4%

Hialeah Housing Size

CategoryValue
No Bedrooms12%
1 Bedroom14%
2 Bedrooms30%
3 Bedrooms33%
4 Bedrooms9%
5+ Bedrooms2%
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