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Housing Tenure and Vacancy From 2000-2010, the overall number of people who own homes in Hugo has risen, primarily due to the increase in population. However, the total percentage homeowners in Hugo dropped steadily, while the percentage of the population that rents homes has increased. This is likely due to the increased number of rental unit availability in the City. The median contract rent in 2015 for Hugo was $1,120, which is the second highest median rent among the communities in Washington County (Maxfield Research & Consulting, 2017). While this data suggests that more opportunities to develop rental housing may be possible, the City will need to evaluate how to support the development of rental units that are considered affordable. Residential Building Permits After the rapid growth of the community prior to 2008, the number of residential building permits issued for new home construction declined from 2007 to 2011. In 2012, the community saw some growth and growth has remained steady since that time. Housing Tenancy, 1990-2015 Residential Building Permits 100% 300 90% p 80% 250 V5 70% 200 = 60% 6 50% 150 40% _0 U 30% E 100 a 20% 10% z 50 ' . , 1990 2000 2010 2015 0 --Owner Occupied 93% 93% 87% 83% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Single family 52 64 50 50 40 90 52 48 59 90 Renter Occupied 6% 5% 9% 13% ■ Multi -family 196 124 97 34 10 0 0 100 8 9 tVacant 2% 2% 4% 4% Source: City of Hugo Igu�re Figure 2-8 DRAFT Dec 14-17 JIFit-760 2040 COMPREHENSIVE PLAN UPDATE for review only DRAFT Dec14-17 for review only COMMUNITY BACKGROUND 21