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