Hugo, CO is a small town in Lincoln County with a population just over 2,000 people. It is considered a great place to live due to its convenient location between Limon and Colorado Springs, as well as affordable housing and cost of living. The average rent for a two bedroom apartment in Hugo is $980 compared to the US average of $1,430. Additionally, Hugo’s Grocery Cost Index (GCI) rating of 95 means that groceries cost 5% less than the US average GCI rating of 100.
Local businesses within Hugo include Hugo Vision Center and William McKinley Insurance Agency, both offering quality services to the community. The Grocery Cost Index or GCI measures how much it costs for food items from grocery stores across different geographical locations relative to an average area’s cost index which is rated at 100. This index can provide helpful insight into the overall cost of living in certain areas especially with regards to food costs.
Hugo has an unemployment rate of 6.0%. The US average is 6.0%.
Hugo has seen the job market increase by 4.6% over the last year. Future job growth over the next ten years is predicted to be 61.3%, which is higher than the US average of 33.5%.
Tax Rates for Hugo
- The Sales Tax Rate for Hugo is 4.9%. The US average is 7.3%.
- The Income Tax Rate for Hugo is 4.6%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Hugo
- The average income of a Hugo resident is $17,524 a year. The US average is $28,555 a year.
- The Median household income of a Hugo resident is $55,417 a year. The US average is $69,021 a year.