The definitive state-by-state analysis of what real estate professionals actually pay to acquire a lead on Facebook and Instagram in 2026.
This report combines Walled Garden's own aggregated platform data [1] with published third-party industry benchmarks [2,3,4,5,6,10] to establish what U.S. real estate professionals actually pay to acquire a lead on Facebook and Instagram in 2026. Every figure on this page is footnoted to its source.
Source: Walled Garden HQ aggregated Meta Marketing API data, 2024–2026 [1]. Ranges represent the central 80% of campaigns on the platform; outliers excluded per methodology. Compare to WordStream/LocaliQ industry average ($16.52 real-estate CPL) [2], Revealbot ($10–$15) [4], and Hootsuite ($1.72 avg CPC) [3].
Hover any state for full benchmark detail. Click to jump to the state's analyst report. State-level figures are modeled estimates blending Walled Garden platform aggregates [1] with published Meta CPM, CPC and real-estate CPL benchmarks [2,4,3,10].
Sort any column. Search any state. Export the underlying dataset. All state-level figures are modeled estimates — see Methodology.
| State | Avg CPL | Median | Buyer | Seller | Luxury | Land | Investment | CTR | CPM | CPC | Close % | Camp. | Leads |
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Want to compare your own advertising performance against these benchmarks?
Analyze My CampaignsPrimary platform data. Headline benchmarks — daily budget range ($10–$25), buyer CPL ($6–$8), seller CPL ($8–$23), and lead-to-closed-deal conversion rate (1–2%) — are aggregated from real estate advertiser accounts running through Walled Garden's compliant ad infrastructure [1]. No self-reported data is included.
Third-party benchmarks. Industry comparisons reference WordStream/LocaliQ Facebook Ads Industry Benchmarks (real-estate vertical) [2], Hootsuite Facebook Advertising Benchmarks [3], Revealbot Facebook Ads Cost Report [4], AdEspresso Facebook Ads Cost Study [5], and Statista U.S. Facebook CPM data [10]. Full citations are listed in Sources.
State-level estimates. The cartogram, rankings table, and per-state reports are modeled estimates. They blend Walled Garden platform aggregates [1] with published Meta CPM and CPC variance by metro [10,4]. These figures are directional and should not be treated as audited per-state averages. They are published to give practitioners a reasonable basis for comparison, not for academic citation.
Compliance frame. All Walled Garden campaigns referenced here are registered under Meta's Special Ad Category for Housing [7], which restricts age, gender, and ZIP-radius targeting to comply with the Fair Housing Act [9].
Normalization. All currency values normalized to USD. Lead counts deduplicated by email + phone across the 7-day click / 1-day view attribution window. CPL recalculated as spend ÷ deduplicated leads. Learning-phase exits computed per Meta's published 50-event / 7-day requirement [8].
Exclusions. Boosted posts, brand-awareness-only campaigns, test campaigns under $50 lifetime spend, campaigns flagged for delivery errors, and campaigns missing geographic targeting metadata.
Update cadence. Platform aggregates refresh monthly; modeled state rollups refresh quarterly; year-over-year rollups refresh annually each January.
Every benchmark on this page is footnoted to one of the sources below. Numbers in brackets — e.g. [2] — link back to this section.
Internal aggregated metrics across real estate Facebook & Instagram campaigns running on the Walled Garden ad infrastructure.
https://walledgardenhq.com/research
https://www.wordstream.com/blog/ws/2022/02/28/facebook-advertising-benchmarks
https://blog.hootsuite.com/facebook-ads-cost/
https://revealbot.com/facebook-advertising-costs
https://adespresso.com/blog/facebook-ads-cost/
https://www.nar.realtor/research-and-statistics
https://www.facebook.com/business/help/298000447747885
https://www.facebook.com/business/help/112167992830700
https://www.hud.gov/program_offices/fair_housing_equal_opp/fair_housing_act_overview
https://www.statista.com/statistics/940459/facebook-ad-cpm-by-country/
Benchmark your current advertising against this dataset and see where you stand relative to your state and campaign type.
Analyze My Campaigns