He was the son of Herman IV and his wife Bertha of Tübingen.

He married in 1217 to Irmengard, Countess Palatine by the Rhine (born 1200, died February 25, 1260); their marriage lasted until Herman V's death.

In the entourage of Emperor Frederick II, he traveled through much of Germany and Italy, and in 1221 went into captivity in Egypt.

His wife Irmengard founded Lichtenthal Abbey in Baden-Baden in 1245, which later became the burial place of the margraves.

Hermann was buried in Backnang, until his widow reinterred his remains at Lichtenthal in 1248.