Hugo, MN

Above Avg · 128

Minnesota · Population 16,076 · Updated March 2026

$1,896
Median Rent / Month
$114,057
Median Income
$394,200
Median Home Value
$1,715
Owner Costs / Month

Affordability

How far your income goes in Hugo

19.9%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Minnesota

State-level tax rates that affect your costs

9.85%
Income Tax (Top Rate)
6.875%
Sales Tax
1.11%
Property Tax Rate

Estimated Annual Costs

$22,752
Annual Rent
$11,235
State Income Tax
$4,376
Property Tax (est.)

Cost of Living Overview

Hugo has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 128 (where 100 equals the national median), Hugo residents can expect to pay median rent of $1,896/month while earning a median household income of $114,057/year.

The median home value in Hugo, MN is $394,200, with typical monthly owner costs around $1,715 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.9% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Minnesota's top income tax rate of 9.85% is among the highest in the nation, adding to the overall cost burden. Combined with a 6.875% sales tax rate and 1.11% effective property tax rate, the overall tax environment is a factor in the total cost of living in Hugo.

Frequently Asked Questions

Common questions about living costs in Hugo

What is the cost of living in Hugo, MN?
The cost of living index in Hugo, MN is 128 (US average = 100). Median monthly rent is $1,896, median household income is $114,057/year, and the median home value is $394,200.
Is Hugo, MN affordable?
No, Hugo is more expensive than the national average with a cost index of 128. The rent-to-income ratio is 19.9%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Hugo, MN?
The median gross rent in Hugo, MN is $1,896 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $22,752.
What is the median household income in Hugo?
The median household income in Hugo, MN is $114,057 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Minnesota?
Minnesota has a top income tax rate of 9.85%, a sales tax of 6.875%, and an effective property tax rate of 1.11%.