Dane County Home Prices: How Much Have They Increased Since 2020?

If it feels like home prices in Dane County have skyrocketed over the past few years—it’s because they have.

Since 2020, the local housing market has experienced one of the strongest periods of appreciation we’ve ever seen. At the start of the pandemic, many homes were selling in the mid-$200,000s to low-$300,000s. Fast forward to today, and the median home price in Dane County is sitting around $450,000–$470,000, according to Redfin.

That’s an increase of roughly 50% or more in about five years.

What Caused the Surge?

Several factors came together at once:

• Historically low interest rates (2020–2021) made buying more affordable and increased demand.

• Limited housing inventory created strong competition among buyers.

• Population growth in Madison and the surrounding areas continued to put pressure on housing supply.

The result? Rapid price growth, especially between 2020 and 2022, followed by a more stable (but still upward) trend in recent years.

What Does this mean today?

For homeowners, this has meant significant equity gains in a short period of time. A home purchased for $300,000 in 2020 could easily be worth $450,000 or more today.

For buyers, it’s created a more competitive and expensive market—but not one without opportunity. While interest rates are higher than they were during the pandemic, price growth has slowed, giving buyers a bit more breathing room than in the peak frenzy years.

The bottom line

Dane County’s housing market has seen a major shift since 2020, with home values rising dramatically and reshaping what buyers and sellers can expect.

If you’re thinking about making a move, understanding how much the market has changed is the first step in making a smart decision.