Hugo, OK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Hugo, OK Real Estate Data


Hugo Housing Market Information

With a population of 5,224, 2,125 total housing units (homes and apartments), and a median house value of $80,126, house prices in Hugo are some of the most affordable in Oklahoma as well as the nation.

Single-family detached homes are the single most common housing type in Hugo, accounting for 71.17% of the city's housing units. Other types of housing that are prevalent in Hugo include duplexes, homes converted to apartments or other small apartment buildings ( 14.78%), large apartment complexes or high rise apartments ( 6.84%), and a few mobile homes or trailers ( 4.61%).

The most prevalent building size and type in Hugo are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 47.84% owning and 52.16% renting.

There is a lot of housing in Hugo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hugo built between 1940-1969 ( 25.85%). A lesser amount of the housing stock also hails from between 2000 and later ( 13.97%). There's also some housing in Hugo built before 1939 ( 9.36%).

Vacant housing appears to be an issue in Hugo. Fully 21.06% of the housing stock is classified as vacant. Left unchecked, vacant Hugo homes and apartments can be a drag on the real estate market, holding Hugo real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hugo Home Appreciation Rates

In the last 10 years, Hugo has experienced some of the highest home appreciation rates of any community in the nation. Hugo real estate appreciated 33.30% over the last ten years, which is an average annual home appreciation rate of 2.92%, putting Hugo in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Hugo definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Hugo's appreciation rate, at 5.06%, has been at or slightly above the national average. In the latest quarter, Hugo's appreciation rate has been 1.16%, which annualizes to a rate of 4.72%.

Relative to Oklahoma, our data show that Hugo's latest annual appreciation rate is higher than 70% of the other cities and towns in Oklahoma.

Average Home Values

 

Median Home Value:
$80,126

Hugo, OK HOME PRICES

Value Range
> $1,143,000 0.0
$858,001 - $1,143,000 0.0
$572,001 - $858,000 0.7
$457,001 - $572,000 0.0
$343,001 - $457,000 3.0
$229,001 - $343,000 4.1
$114,001 - $229,000 20.9
$57,001 - $114,000 44.5
$0 - $57,000 26.8

Very Low for OK
Very Low for Nation

Value Relative to Nation Value Relative to State
91.2396791005446 80.6646525679758

Number Of Homes And Apartments:
2,125

Rent & Ownership

 

Average Market Rent:
$771 / per month

Homeownership Rate

Homeownership
Owners 47.84
Renters 52.16
Vacant 21.06

Housing Market Details

 

Age of Homes

AGE OF Hugo HOMES
2000 or Newer 14.0
1970 - 1999 50.8
1940 - 1969 25.9
1939 or Older 9.4

Types of Homes

TYPE OF Hugo HOMES
Single-Family 71.2
Townhomes 2.6
Small Apt. Buildings 14.8
Apt. Complexes 6.8
Mobile Homes 4.6
Other 0.0

Home Size

SIZE OF Hugo HOMES
No Bedroom 4.20
1 Bedroom 11.78
2 Bedrooms 22.92
3 Bedrooms 51.23
4 Bedrooms 8.99
5 or more bedrooms 0.89

Hugo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
OK*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
67.43% 3.08% 7 8
* 10 is highest

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Zip Codes in Hugo, OK