Hugo, MN
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Hugo Neighborhoods Since 2000




Hugo, MN Real Estate Data

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hugo Housing Market Information

With 14,388 people, 5,177 houses or apartments, and a median cost of homes of $252,508, 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 59.72% of the city's housing units. Other types of housing that are prevalent in Hugo include row houses and other attached homes ( 32.75%), large apartment complexes or high rise apartments ( 4.18%), and a few mobile homes or trailers ( 1.98%).

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 86.58% of Hugo's homes, and 64.14% 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. 60.46% 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 ( 29.96%), and between 1940-1969 ( 5.95%). There's also some housing in Hugo built before 1939 ( 3.62%).

Hugo Home Appreciation Rates

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 -1.26%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Hugo's appreciation rate, at 4.46%, has been at or slightly above the national average. In the latest quarter, Hugo's appreciation rate has been 1.44%, which annualizes to a rate of 5.89%.

Relative to Minnesota, our data show that Hugo's latest annual appreciation rate is higher than 50% of the other cities and towns in Minnesota.

Average Home Values

 

Median Home Value:
$252,508

Hugo, MN HOME PRICES

Value Range
> $1,163,000 0.4
$872,001 - $1,163,000 0.6
$581,001 - $872,000 6.0
$465,001 - $581,000 6.5
$349,001 - $465,000 13.1
$232,001 - $349,000 32.3
$116,001 - $232,000 33.7
$58,001 - $116,000 3.1
$0 - $58,000 4.3

Very High for MN
High for Nation

Value Relative to Nation Value Relative to State
22.1141450837923 19.7125256673511

Number Of Homes And Apartments:
5,177

Hugo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MN*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
27.39% 1.41% 3 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,460 / per month

Homeownership Rate

Homeownership
Owners 86.58
Renters 13.42
Vacant 4.31

Housing Market Details

 

Age of Homes

AGE OF Hugo HOMES
2000 or Newer 60.5
1970 - 1999 30.0
1940 - 1969 6.0
1939 or Older 3.6

Types of Homes

TYPE OF Hugo HOMES
Single-Family 59.7
Townhomes 32.8
Small Apt. Buildings 1.4
Apt. Complexes 4.2
Mobile Homes 2.0
Other 0.0

Home Size

SIZE OF Hugo HOMES
No Bedroom 0.00
1 Bedroom 0.91
2 Bedrooms 30.37
3 Bedrooms 37.32
4 Bedrooms 26.82
5 or more bedrooms 4.58