A new report from ConsumerAffairs reveals that South Florida is home to three of the 10 most "house poor" cities in America, with Hialeah ranking as the city with the highest housing burden nationally.
The term "house poor" applies to homeowners who spend significantly more than the commonly recommended 28% of their salary on housing costs. The concentration of severely cost-burdened homeowners in the metro region — Miami–Fort Lauderdale–Pompano Beach — paints a stark financial picture for thousands of local families.
What makes Hialeah the most house-poor city?
● Annual median household income for homeowners: $71,386
● Monthly median household income: $5,949
● Median monthly housing costs with a mortgage: $2,193
Cost burden percentage: 36.9%
According to the research released Thursday, Hialeah tops the ranks of house-poor cities, with homeowners spending an average of 36.9% of their income on housing. For the typical Hialeah homeowner, who earns around $71,385 annually, this translates to spending more than $26,000 per year on housing.
Two other major South Florida municipalities also cracked the top 10 list: Miami came in at #5, with homeowners dedicating 32.3% of their income to housing expenses, and Pembroke Pines was #6 with a 32% housing burden.
High housing costs, stagnant incomes
The new findings highlight what South Floridians have long known about the region's widespread housing affordability crisis.
In Miami, housing costs are further inflated by significantly higher taxes. The city's average annual property taxes of $5,414 are a staggering 51% higher than the national median of $3,580, adding more strain to household budgets.
READ MORE: How taxes on homeowner profits could be slowing down South Florida's housing market
Meanwhile, homeowners in Pembroke Pines face a particularly difficult economic squeeze. The report points out that "housing costs increased by 10.7% over the past year, while homeowner incomes fell by 1.9% over the same period."
The financial pressure extends just outside the top 10 as well, with Fort Lauderdale ranking as the 15th most house-poor city in the nation, according to the full ConsumerAffairs report.
The data underscores that for a growing number of South Florida residents, the dream of homeownership is increasingly becoming a struggle to maintain a basic standard of living.
