Rent vs buy in Hialeah, FL
In Hialeah, Florida, the typical rent is $2,343 /mo and the typical home value is $443,765.
Buying saves $37k over 7 years
With a 20% down payment and today's mortgage rate, the figures reflect Hialeah's typical rent and home value. The break-even point arrives in year 5.
Clearly labeled opinion, with the math shown. These are estimates, not quotes. If you change a number, the stamp changes with it.
- How far owning leads
- $37k after 7 years
- Break-even point
- Year 5 when owning catches up
- Actual cost of owning
- $3,824 each month year 1, against $2,343 rent
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The stamp is built from Hialeah's typical rent and its typical home value. Different rent, price and time periods can change the result.
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Is it cheaper to rent or buy in Hialeah?
Over 7 years, buying costs $36,640 less after including the money returned when you sell. In year 5, owning's net cost falls below renting's and remains lower.
Renting Owning Net cost by year so far
Average rent compared with mortgage payments in Hialeah
The rent and the mortgage tell only part of it. All the monthly costs in year 1 appear here, using Hialeah's typical price.
| Each month, year 1 | Amount | What it is |
|---|---|---|
| Rent | $2,343 | All of it, every month |
| Mortgage payment | $2,419 | $2,133 of it is interest in year 1 |
| Property tax | $211 | 0.57% of the value a year |
| Insurance | $205 | Census median for the city |
| Upkeep | $370 | 1% of the value a year |
| Owning, cash out | $3,205 | $287 of it builds equity |
| Lost return on the down payment | $721 | Annual earnings on the cash at 8.3% |
| Buying costs, spread out | $185 | 3.5% of the price over 7 years |
| True cost of owning | $3,824 | Take cash out, subtract the equity part, then add the two lines above |
Figures behind the Hialeah result
- Typical home value, per Zillow ZHVI, September 2026
- $443,765
- Typical rent, per Zillow ZORI, September 2026
- $2,343 each month
- Private mortgage insurance isn't needed with 20% down, and the engine doesn't include it
- 20%
- Mortgage rate, per Freddie Mac Primary Mortgage Market Survey (FRED MORTGAGE30US)
- 7.24%
- Growth in home pricesFHFA index for house prices, Florida, 1995 to 2025
- 5.4% yearly
- Rent growth rateCPI primary residence rent, yearly growth, 2006 to 2026
- 3.5% yearly
- Savings returnFrom 1928 through 2025, with yearly rebalancing of 40% 10-year Treasuries and 60% S&P 500 with dividends
- 8.3% yearly
- Property tax, per Census ACS 2020-2024, Hialeah
- Value times 0.57%
- Home insurance, per Census ACS 2020-2024, Hialeah
- $205 each month
- Upkeep costsFannie Mae; lower limit of the 1% to 4% range
- 1% applies to the value each year
- Buying costs, per Freddie Mac, middle of the 2% to 5% range
- The price multiplied by 3.5%
- Selling costsAgent commission and closing costs
- 6% of the price
What would flip the result in Hialeah?
Each line shows where the 7-year verdict in Hialeah flips, and everything else stays as it is.
When renting comes out ahead
- Home prices rising by less than 4.4% a year meet this condition, though our calculation uses Florida's long-run rate of 5.4%.
- A mortgage rate that stays above 8.69% meets this condition.
- A home like this has monthly rent under $1,950 (the local typical rent is $2,343).
- You make your move before year 5.
You win by buying when
- Home prices rise by more than 4.4% each year.
- You secure a mortgage rate under 8.69% (today's rate is 7.24%).
- You'd pay more than $1,950 a month to rent the same home.
- You remain for 5 years or more.
How Hialeah compares with the other 812 cities
| Measure | Hialeah | Median city |
|---|---|---|
| Typical home value | $443,765 | $422,451 |
| Typical rent | $2,343 /mo | $1,837 /mo |
| Price-to-rent ratio | 15.8 (#575 of 813) | 18.5 |
| Home prices, last 10 years | 7.7% a year | 6.2% a year |
| Rents, last 5 years | 6.3% a year | 4% a year |
| Property tax | 0.57% | 0.87% |
| Households that rent | 53% | 42% |
Data comes from Zillow ZHVI and ZORI, Census ACS 2020-2024.
Other Florida cities
- Buy. In Jacksonville, FL, buying wins by $27k.
- Buy. In Miami, FL, buying wins by $27k.
- Buy. In Tampa, FL, buying wins by $19k.
- Buy. In Orlando, FL, buying wins by $17k.
- In St. Petersburg, FL, buying comes out ahead by $41k.
- Buy. Buying wins by $48k in Port St. Lucie, FL.
- Buy in Cape Coral, FL. Buying comes out ahead by $36k.
- Buy in Tallahassee, FL. Buying comes out ahead by $11k.
- Buy in Fort Lauderdale, FL. Buying comes out ahead by $25k.
- Buy in Pembroke Pines, FL. Buying comes out ahead by $22k.
- Buying is the better choice in Hollywood, FL. It wins by $17k.
- Buying is the better choice in Gainesville, FL. It wins by $24k.