[5] In about 1859 the town was developed as a cattle ranching community to supply miners with provisions.

One version says the town was named by the Kansas Pacific Railroad builders after pioneer stage agent (Overland company), Hugo Richards.

[8][9] Another story says the town was named for Richard Hugo who was a local settler.

[12] In July 2016, the water supply for the town of Hugo was purportedly contaminated by THC, the main psychoactive component in cannabis.

[14] According to the United States Census Bureau, the town has a total area of 1.0 square mile (2.6 km2), all of which is land.

Hugo's municipal public park (Hines Park) features a vintage swimming pool which was constructed as a Works Project Administration facility in the 1930s and is designated as a historic site by the National Register of Historic Places.

Kinney Lake State Wildlife Area is 14 miles south of Hugo, and features a 10-acre lake for fishing and recreation as well as camping and hunting of deer, antelope, rabbit, coyote, waterfowl during the licensed season.

The Eastern Colorado Plainsman is the weekly newspaper serving Hugo and the surrounding communities.