Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 16,501, 6,331 total housing units (homes and apartments), and a median house value of $452,008, Hugo real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Hugo, accounting for 61.04% of the city's housing units. Other types of housing that are prevalent in Hugo include row houses and other attached homes ( 28.58%), large apartment complexes or high rise apartments ( 6.06%), and a few mobile homes or trailers ( 3.53%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Hugo. Owner-occupied housing accounts for 88.82% of Hugo's homes, and 60.59% have either three or four bedrooms, which is average sized relative to America.
Hugo homes and real estate are some of the newest in America. 59.74% of Hugo's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Hugo real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 32.44%), and between 1940-1969 ( 5.09%). There's also some housing in Hugo built before 1939 ( 2.73%).
Hugo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hugo during the period has been just 5.58%, which is lower than 70% of US communities.
Over the last year, Hugo appreciation rates have trailed the rest of the nation. In the last twelve months, Hugo's appreciation rate has been 5.09%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Hugo were at 0.44%, which equates to an annual appreciation rate of 1.79%.
Relative to Minnesota, our data show that Hugo's latest annual appreciation rate is lower than 80% of the other cities and towns in Minnesota.
$452,008
for Minnesota
for nation
6,331
$2,644 / per month