Born in 1827, Hoyt Sherman was the youngest son of eleven children. His family included older brothers, John Sherman, the writer of Sherman Anti-Trust Act, and Civil War General William Tecumseh Sherman.

Hoyt Sherman arrived in Des Moines in 1848, and shortly thereafter, he was appointed Postmaster. He built the first post office and bank, he served on the town council, and he was very involved in local and state politics. In 1850, Hoyt purchased five acres of land for $105. President Abraham Lincoln appointed him the Army Paymaster at the start of the Civil War, with the rank of Major.

Upon his return, Hoyt teamed up with others and created Equitable of Iowa Insurance Company. During this time, he also gave his counsel, his time, and his money to ensure Des Moines had schools, including a college, a waterworks system, and many more facilities.

In 1877, Hoyt Sherman Place, the family home, was completed with the help of architect William Foster. Almost immediately, it is noted in writings to be, "a society showplace of the grandest scale." Among its distinguished guests in history are General Sherman, General Grant, General Sheridan, and Major McKinley.

In 1893, Hoyt Sherman rented his home out to The Sister's of Mercy from Davenport, Iowa. Within the walls of the home, the Sisters created the first Mercy Hospital. It held 52 beds and operated for nearly two years.

Sherman and his wife, Sarah, raised five children, Frank, Addie, Charles, Arthur, and Helen, in the home. Major Hoyt Sherman passed away in January 1904.