Market Overview
Home Prices in Hernando, MS
The median home value in Hernando, MS is $350,372 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.2% compared to a year ago and up 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hernando are priced15% below average. Hernando is part of the Memphis, TN-MS-AR metro area.
Over the past five years, Hernando home values have risen by approximately20.6%, reflecting strong long-term appreciation in this market.
Price History
Hernando Home Price Trend
City Comparison
Hernando vs. National Median
At $350,372, homes in Hernando cost 15% below the national median of $410,000. This makes Hernando a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Hernando?
20% Down Payment
$70,074
on $350,372
Monthly P&I
$1,827/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,320/mo
incl. taxes & insurance
Income Needed
$92,800
gross annual (30% rule)
10% Down Option
$35,037
+ PMI applies
Loan Amount (20% dn)
$280,298
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Hernando, MS?
The median home value in Hernando is $350,372 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.2% year-over-year.
How much have home prices changed in Hernando?
Over the past year, home values in Hernando have increased by 2.2%. Over five years, prices have risen approximately 20.6%.
How much do I need to earn to buy a home in Hernando?
To comfortably afford the median home price of $350,372 with a 20% down payment ($70,074) at today's rates (6.8%), you'd need a gross annual income of approximately $92,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Hernando compare to the national average home price?
The national median home value is approximately $410,000. At $350,372, homes in Hernando are 15% below the national average.
What metro area is Hernando part of?
Hernando is part of the Memphis, TN-MS-AR metropolitan area. Home prices and market conditions can vary across the broader metro region.