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
With 5,224 people, 1,959 houses or apartments, and a median cost of homes of $90,078, house prices in Hugo are solidly below the national average.
Single-family detached homes are the single most common housing type in Hugo, accounting for 71.00% 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 ( 13.72%), large apartment complexes or high rise apartments ( 8.92%), and a few mobile homes or trailers ( 4.99%).
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 47.51% owning and 52.49% 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 ( 26.30%). A lesser amount of the housing stock also hails from between 2000 and later ( 14.79%). There's also some housing in Hugo built before 1939 ( 7.24%).
Vacant housing appears to be an issue in Hugo. Fully 25.34% 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.
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 22.27% over the last ten years, which is an average annual home appreciation rate of 2.03%, putting Hugo in the top 20% 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.
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 3.08%, 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 2.06%, which equates to an annual appreciation rate of 8.51%.
Importantly, this makes Hugo one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Oklahoma, our data show that Hugo's latest annual appreciation rate is lower than 60% of the other cities and towns in Oklahoma.
|$830,001 - $1,107,000||0.0|
|$553,001 - $830,000||0.9|
|$442,001 - $553,000||0.0|
|$332,001 - $442,000||2.4|
|$222,001 - $332,000||5.5|
|$110,001 - $222,000||25.4|
|$55,001 - $110,000||39.1|
|$0 - $55,000||26.7|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Hugo HOMES|
|2000 or Newer||14.8|
|1970 - 1999||51.7|
|1940 - 1969||26.3|
|1939 or Older||7.2|
|TYPE OF Hugo HOMES|
|Small Apt. Buildings||13.7|
|SIZE OF Hugo HOMES|
|5 or more bedrooms||0.61|