The community was originally settled as a town called Chauncey.[1] A post office called Chauncey was established in 1883. The town was platted in the 1890s.[3] The name was changed to Hugo in 1914, and the post office closed in 1943.[4] The origin of the name Hugo is obscure.[5]
In the early 20th century, the community had two stores, a post office, a blacksmith, a grist mill, a school, a church, and several residences.[3]