The typical owner-occupied home in Hermosa is worth about $148,800, 42% below the South Dakota median of $257,400 and 55% below the national median of $332,700. Owners pay a median $1,397 a year in property taxes, about 0.94% of their home's value, lower than the South Dakota rate of 1.06%. The median household earns $53,203 a year, so the median home costs 2.8 times the median income (3.4 times for South Dakota). 70% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Hermosa at a glance
| Hermosa | South Dakota | U.S. | |
|---|---|---|---|
| Median home value | $148,800 | $257,400 | $332,700 |
| Median property tax paid per year | $1,397 | $2,724 | $3,119 |
| Property tax as a share of value | 0.94% | 1.06% | 0.94% |
| Median household income | $53,203 | $75,081 | $80,734 |
| Homes lived in by their owners | 70% | 69% | 65% |
| Owner homes with a mortgage | 57% | 54% | 61% |
| Median monthly costs, owners with a mortgage | $1,244 | $1,680 | $1,963 |
| Those costs as a share of the owners' income | 29.8% | 20.4% | 21.0% |
| Median rent | $1,264 | $946 | $1,413 |
| Rent as a share of renters' income | 25.0% | 25.9% | 30.6% |
| Median year homes were built | 1991 | 1980 | 1980 |
| Vacant homes | 13.5% | 10.5% | 10.1% |
| Population | 353 | 907,428 | 334,922,499 |
What a typical home costs per month in Hermosa
At this week's average 30-year rate of 7.11%, buying the median Hermosa home of $148,800 with 20% down costs about $979 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,227, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $41,972 for the 20%-down payment. That payment is 22% of the median Hermosa household income of $53,203; at that income and 20% down, the 28% guideline points to a home of about $189,000.
The median rent here is $1,264 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $29,760 |
|---|---|
| Loan amount | $119,040 |
| Principal and interest | $801 |
| Property taxes (0.94% a year) | $117 |
| Homeowners insurance (our estimate, 0.5% a year) | $62 |
| PMI | $0 |
| Total per month | $979 |
Change the numbers in the calculator
| Down payment | $5,208 |
|---|---|
| Loan amount | $146,105 |
| Principal and interest | $983 |
| Property taxes (0.94% a year) | $117 |
| Homeowners insurance (our estimate, 0.5% a year) | $62 |
| FHA mortgage insurance | $66 |
| Total per month | $1,227 |
Change the numbers in the calculator
Questions about home buying in Hermosa
What is the median home value in Hermosa?
About $148,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hermosa?
Homeowners pay a median $1,397 a year, which is about 0.94% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Hermosa?
For the median home with 20% down at 7.11%, the payment is about $979 a month. Keeping that under 28% of gross income takes about $41,972 a year.
More about Hermosa
- Mortgage Refinance in Hermosa
- Debt Relief in Hermosa
- Home Equity Loans in Hermosa
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data