The typical owner-occupied home in Hemphill is worth about $125,700, 56% below the Texas median of $283,800 and 62% below the national median of $332,700. Owners pay a median $1,155 a year in property taxes, about 0.92% of their home's value, lower than the Texas rate of 1.49%. The median household earns $67,260 a year, so the median home costs 1.9 times the median income (3.6 times for Texas). 65% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Hemphill at a glance
| Hemphill | Texas | U.S. | |
|---|---|---|---|
| Median home value | $125,700 | $283,800 | $332,700 |
| Median property tax paid per year | $1,155 | $4,232 | $3,119 |
| Property tax as a share of value | 0.92% | 1.49% | 0.94% |
| Median household income | $67,260 | $78,476 | $80,734 |
| Homes lived in by their owners | 65% | 63% | 65% |
| Owner homes with a mortgage | 39% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,142 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 17.4% | 21.7% | 21.0% |
| Median rent | $882 | $1,403 | $1,413 |
| Rent as a share of renters' income | 26.4% | 30.9% | 30.6% |
| Median year homes were built | 1970 | 1992 | 1980 |
| Vacant homes | 13.8% | 9.4% | 10.1% |
| Population | 1,488 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Hemphill
At this week's average 30-year rate of 7.11%, buying the median Hemphill home of $125,700 with 20% down costs about $825 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,035, 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 $35,367 for the 20%-down payment. That payment is 15% of the median Hemphill household income of $67,260; at that income and 20% down, the 28% guideline points to a home of about $239,000.
The median rent here is $882 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $25,140 |
|---|---|
| Loan amount | $100,560 |
| Principal and interest | $676 |
| Property taxes (0.92% a year) | $96 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| PMI | $0 |
| Total per month | $825 |
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| Down payment | $4,400 |
|---|---|
| Loan amount | $123,423 |
| Principal and interest | $830 |
| Property taxes (0.92% a year) | $96 |
| Homeowners insurance (our estimate, 0.5% a year) | $52 |
| FHA mortgage insurance | $56 |
| Total per month | $1,035 |
Change the numbers in the calculator
Questions about home buying in Hemphill
What is the median home value in Hemphill?
About $125,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Hemphill?
Homeowners pay a median $1,155 a year, which is about 0.92% 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 Hemphill?
For the median home with 20% down at 7.11%, the payment is about $825 a month. Keeping that under 28% of gross income takes about $35,367 a year.
More about Hemphill
- Mortgage Refinance in Hemphill
- Debt Relief in Hemphill
- Home Equity Loans in Hemphill
- 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