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Hialeah, Florida

Hialeah homes are experiencing a red hot market. Sellers are happy about this. Many buyers are quite stressed in such a hot market. They are definitely not in the driver’s seat like sellers who are celebrating the joys of a seller’s market.

$250,600 is the median value of Hialeah houses. 11.9 percent is how much house values have increased in the last year. It has been predicted that homes won’t rise near that amount in 2018– a 2.8 percent increase is predicted.

In Hialeah, the per square foot median list cost is $191. The Metro area of Miami-Fort Lauderdale has an average of $218 per square foot median list cost. This is higher than Hialeah.

$305,000 is presently Hialeah’s median cost of houses listed. $243,500 is presently Hialeah’s median cost of houses that sold.

As far as home rentals go, Hialeah’s rent median cost is on the higher side which is $2000 per month. The metro area of Miami-Fort-Lauderdale has the same $2000 per month rental rate as Hialeah. $2000 a month is quite high particularly for the low income population who as a whole cannot afford to purchase a home.

When home owners experience foreclosure, there is a first step they experience. And that is mortgage delinquency. Mortgage delinquency means that the home owner missed making a payment on their mortgage.

1.7 percent is the mortgage delinquency rate in the city of Hialeah. This is a little bit greater than the 1.6 percent national mortgage delinquency rate.

As a result of declining home values of over 20% from 2007 through 2011, there are quite a few home owners experiencing their mortgages being underwater. Being underwater is defined as owing more on their mortgage than the value of their house.

12.5 percent is the current percentage of Hialeah house owners experiencing being underwater on their mortgages. This is a greater percentage of mortgages being underwater than the 9.9 percent being experienced in the Metro area of Miami-Fort Worth.