Market Overview
Home Prices in Hugo, MN
The median home value in Hugo, MN is $441,029 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.4% compared to a year ago and up 0.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Hugo are priced8% above average. Hugo is part of the Minneapolis-St. Paul-Bloomington, MN-WI metro area.
Over the past five years, Hugo home values have risen by approximately14.9%, reflecting steady appreciation in this market.
Price History
Hugo Home Price Trend
City Comparison
Hugo vs. National Median
At $441,029, homes in Hugo cost 8% above the national median of $410,000. Buyers in Hugo should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Hugo?
20% Down Payment
$88,206
on $441,029
Monthly P&I
$2,300/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,921/mo
incl. taxes & insurance
Income Needed
$116,840
gross annual (30% rule)
10% Down Option
$44,103
+ PMI applies
Loan Amount (20% dn)
$352,823
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Hugo, MN?
The median home value in Hugo is $441,029 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.4% year-over-year.
How much have home prices changed in Hugo?
Over the past year, home values in Hugo have increased by 2.4%. Over five years, prices have risen approximately 14.9%.
How much do I need to earn to buy a home in Hugo?
To comfortably afford the median home price of $441,029 with a 20% down payment ($88,206) at today's rates (6.8%), you'd need a gross annual income of approximately $116,840. This assumes keeping total housing costs at or below 30% of gross income.
How does Hugo compare to the national average home price?
The national median home value is approximately $410,000. At $441,029, homes in Hugo are 8% above the national average.
What metro area is Hugo part of?
Hugo is part of the Minneapolis-St. Paul-Bloomington, MN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.