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The cost for home buyer leads on Google Ads in CINC's portfolio of real estate team and agent clients decreased in Q1 2023 compared to Q4 2022.
14 of the top 20 markets had lower lead costs in Q1 2023 compared to the prior quarter.
In spite of a shifting real estate market, many markets continue to see low CPLs (cost per lead prices) with year-over-year decreases in cost per lead.
Jacksonville, North Carolina ($0.41 cost per lead) and Norwich, Connecticut ($1.75 cost per lead) overtook Bangor, Maine in Q1 for the lowest cost per lead markets.
Of the largest markets, Tampa, Florida ($5.61 cost per lead) was the largest mover in big market lead cost affordability rankings moving up from the #8 spot last quarter to the #4 spot in Q1.
CINC is the leader in online real estate lead generation with more than 50,000 clients. This behind-the-scenes lead cost data is what we were seeing for our portfolio of real estate team and agent clients during Q1 2023. The CINC client marketing team manages almost $30 million in search and social advertising spend annually for real estate teams and agents across the United States and Canada. If you want to see how CINC can help you find more higher quality hyperlocal real estate leads on Google, request a demo here.
Lowest Real Estate Lead Cost Markets for Buyers on Google
Jacksonville (North Carolina), Norwich-New London (Connecticut) and Bangor (Maine) had the lowest real estate buyer lead costs of any market. Jacksonville had a super low $0.41 cost per lead.
The Northeast was well-represented with 4 cities in the Top 10 lowest cost per lead markets in the US.
| Market Rank | Market | Q1 2023 Cost Per Lead (CPL) |
| 1 | Jacksonville, NC | $0.41 |
| 2 | Norwich-New London, CT | $1.75 |
| 3 | Bangor, ME | $1.76 |
| 4 | Wichita, KS | $2.09 |
| 5 | Mobile, AL | $2.40 |
| 6 | Davenport-Moline-Rock Island, IA-IL | $2.55 |
| 7 | Altoona, PA | $2.58 |
| 8 | San Angelo, TX | $2.59 |
| 9 | Kingsport-Bristol-Bristol, TN-VA | $2.67 |
| 10 | Pittsfield, MA | $2.68 |
Biggest Markets with Lowest Real Estate Lead Costs for Buyers on Google
Tampa, Florida and Miami, Florida were the two markets that moved up the most in the real estate buyer lead cost affordability rankings.
Tampa ($5.61 cost per lead) moved up from the #8 spot to the #4 spot quarter-over-quarter. Miami ($6.13 cost per lead) moved up from the #10 spot to the #8 spot.
| Market Rank | Market | Q1 2023 Cost Per Lead (CPL) |
| 1 | St. Louis, MO-IL | $4.56 |
| 2 | Chicago-Naperville-Elgin, IL-IN-WI | $5.33 |
| 3 | Houston-The Woodlands-Sugar Land, TX | $5.46 |
| 4 | Tampa-St. Petersburg-Clearwater, FL | $5.61 |
| 5 | Atlanta-Sandy Springs-Roswell, GA | $5.76 |
| 6 | Baltimore-Columbia-Towson, MD | $6.04 |
| 7 | Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | $6.07 |
| 8 | Miami-Fort Lauderdale-West Palm Beach, FL | $6.13 |
| 9 | Boston-Cambridge-Newton, MA-NH | $6.73 |
| 10 | Dallas-Fort Worth-Arlington, TX | $6.85 |
Biggest Real Estate Lead Cost Declines for Buyers on Google for Top 100 Markets
Wichita, Kansas (56% lead cost decline) saw the largest overall real estate buyer lead cost decline quarter-over-quarter.
8 of the 10 markets that saw the largest quarter-over-quarter decreases in lead cost in Q1 2023 were located either in a beach market and/or Florida.
| Market Rank | Market | Q1 2023 Cost Per Lead (CPL) | % Change Quarter-Over-Quarter |
| 1 | Wichita, KS | $2.09 | -56% |
| 2 | Virginia Beach-Norfolk-Newport News, VA-NC | $6.53 | -32% |
| 3 | Urban Honolulu, HI | $5.01 | -31% |
| 4 | North Port-Sarasota-Bradenton, FL | $6.71 | -29% |
| 5 | Deltona-Daytona Beach-Ormond Beach, FL | $6.68 | -26% |
| 6 | Jackson, MS | $3.51 | -25% |
| 7 | Charleston-North Charleston, SC | $9.15 | -23% |
| 8 | Tampa-St. Petersburg-Clearwater, FL | $5.61 | -23% |
| 9 | Lakeland-Winter Haven, FL | $3.89 | -22% |
| 10 | Palm Bay-Melbourne-Titusville, FL | $5.59 | -21% |
Real Estate Lead Cost for Buyers on Google for Top 100 Markets
|
Rank |
Market |
Q1 2023 Cost Per Lead (CPL) | % Change Quarter-Over-Quarter |
|
1 |
New York-Newark-Jersey City, NY-NJ-PA |
$7.35 | -2% |
|
2 |
$9.80 | 2% | |
|
3 |
Chicago-Naperville-Elgin, IL-IN-WI |
$5.33 | 7% |
|
4 |
Dallas-Fort Worth-Arlington, TX |
$6.85 | -8% |
|
5 |
Houston-The Woodlands-Sugar Land, TX |
$5.46 | -2% |
|
6 |
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD |
$6.07 | 0% |
|
7 |
Washington-Arlington-Alexandria, DC-VA-MD-WV |
$7.72 | -9% |
|
8 |
$6.13 | -20% | |
|
9 |
Atlanta-Sandy Springs-Roswell, GA |
$5.76 | -5% |
|
10 |
Boston-Cambridge-Newton, MA-NH |
$6.73 | 6% |
|
11 |
$11.32 | -15% | |
|
12 |
$7.84 | -10% | |
|
13 |
Phoenix-Mesa-Scottsdale, AZ |
$8.46 | -19% |
|
14 |
Detroit-Warren-Dearborn, MI |
$7.17 | 0% |
|
15 |
Seattle-Tacoma-Bellevue, WA |
$10.97 | -9% |
|
16 |
Minneapolis-St. Paul-Bloomington, MN-WI |
$8.81 | 4% |
|
17 |
$9.46 | -8% | |
|
18 |
$5.61 | -23% | |
|
19 |
St. Louis, MO-IL |
$4.56 | -5% |
|
20 |
Baltimore-Columbia-Towson, MD |
$6.04 | -7% |
|
21 |
Denver-Aurora-Lakewood, CO |
$9.35 | -6% |
|
22 |
Pittsburgh, PA |
$5.13 | -7% |
|
23 |
Charlotte-Concord-Gastonia, NC-SC |
$5.85 | -7% |
|
24 |
Portland-Vancouver-Hillsboro, OR-WA |
$8.88 | -4% |
|
25 |
San Antonio-New Braunfels, TX |
$4.85 | -4% |
|
26 |
$5.56 | -20% | |
|
27 |
$8.91 | -14% | |
|
28 |
Cincinnati, OH-KY-IN |
$5.43 | 1% |
|
29 |
Cleveland-Elyria, OH |
$7.11 | -3% |
|
30 |
Kansas City, MO-KS |
$5.52 | -13% |
|
31 |
Las Vegas-Henderson-Paradise, NV |
$8.92 | -12% |
|
32 |
Columbus, OH |
$4.78 | -1% |
|
33 |
Indianapolis-Carmel-Anderson, IN |
$4.90 | -18% |
|
34 |
$11.15 | -6% | |
|
35 |
Austin-Round Rock, TX |
$8.16 | -7% |
|
36 |
Nashville-Davidson--Murfreesboro--Franklin, TN |
$7.54 | -7% |
|
37 |
Virginia Beach-Norfolk-Newport News, VA-NC |
$6.53 | -32% |
|
38 |
Providence-Warwick, RI-MA |
$6.47 | -5% |
|
39 |
Milwaukee-Waukesha-West Allis, WI |
$5.97 | 11% |
|
40 |
$5.86 | -20% | |
|
41 |
Memphis, TN-MS-AR |
$4.84 | -7% |
|
42 |
Oklahoma City, OK |
$5.68 | 2% |
|
43 |
Louisville/Jefferson County, KY-IN |
$5.80 | -13% |
|
44 |
Richmond, VA |
$6.01 | -7% |
|
45 |
New Orleans-Metairie, LA |
$3.04 | -16% |
|
46 |
Hartford-West Hartford-East Hartford, CT |
$5.46 | 9% |
|
47 |
Raleigh, NC |
$7.25 | -2% |
|
48 |
Birmingham-Hoover, AL |
$4.57 | -6% |
|
49 |
Buffalo-Cheektowaga-Niagara Falls, NY |
$3.73 | 1% |
|
50 |
Salt Lake City, UT |
$10.21 | -15% |
|
Rank |
Market |
Q1 2023 Cost Per Lead (CPL) | % Change Quarter-Over-Quarter |
|
51 |
Rochester, NY |
$3.05 | -19% |
|
52 |
Grand Rapids-Wyoming, MI |
$7.07 | -9% |
|
53 |
Tucson, AZ |
$8.08 | -20% |
|
54 |
Urban Honolulu, HI |
$5.01 | -31% |
|
55 |
Tulsa, OK |
$3.54 | -14% |
|
56 |
$4.90 | -16% | |
|
57 |
Bridgeport-Stamford-Norwalk, CT |
$7.04 | 4% |
|
58 |
Worcester, MA-CT |
$6.47 | 0% |
|
59 |
Albuquerque, NM |
$7.73 | -13% |
|
60 |
Omaha-Council Bluffs, NE-IA |
$4.54 | 8% |
|
61 |
Albany-Schenectady-Troy, NY |
$4.06 | 7% |
|
62 |
New Haven-Milford, CT |
$5.85 | 8% |
|
63 |
$7.14 | 4% | |
|
64 |
Knoxville, TN |
$5.75 | 0% |
|
65 |
Greenville-Anderson-Mauldin, SC |
$5.11 | -4% |
|
66 |
$7.16 | -2% | |
|
67 |
El Paso, TX |
$6.56 | #VALUE! |
|
68 |
Allentown-Bethlehem-Easton, PA-NJ |
$5.04 | -19% |
|
69 |
Baton Rouge, LA |
$4.55 | 20% |
|
70 |
McAllen-Edinburg-Mission, TX |
NA | #VALUE! |
|
71 |
Dayton, OH |
$5.23 | -1% |
|
72 |
Columbia, SC |
$4.67 | -1% |
|
73 |
Greensboro-High Point, NC |
$5.13 | -6% |
|
74 |
$6.71 | -29% | |
|
75 |
Little Rock-North Little Rock-Conway, AR |
$3.21 | -7% |
|
76 |
$9.39 | -4% | |
|
77 |
Akron, OH |
$7.55 | 1% |
|
78 |
Charleston-North Charleston, SC |
$9.15 | -23% |
|
79 |
Colorado Springs, CO |
$9.60 | -13% |
|
80 |
Syracuse, NY |
$3.75 | -11% |
|
81 |
Winston-Salem, NC |
$4.38 | -2% |
|
82 |
$6.57 | -3% | |
|
83 |
Boise City, ID |
$9.97 | -17% |
|
84 |
Wichita, KS |
$2.09 | -56% |
|
85 |
Springfield, MA |
NA | #VALUE! |
|
86 |
Madison, WI |
$5.61 | -6% |
|
87 |
$3.89 | -22% | |
|
88 |
Ogden-Clearfield, UT |
$7.77 | -8% |
|
89 |
Toledo, OH |
$4.48 | #VALUE! |
|
90 |
$6.68 | -26% | |
|
91 |
Des Moines-West Des Moines, IA |
$9.26 | -9% |
|
92 |
Jackson, MS |
$3.51 | -25% |
|
93 |
Augusta-Richmond County, GA-SC |
$4.33 | -12% |
|
94 |
Scranton–Wilkes-Barre–Hazleton, PA |
NA | #VALUE! |
|
95 |
Youngstown-Warren-Boardman, OH-PA |
NA | #VALUE! |
|
96 |
Harrisburg-Carlisle, PA |
$6.68 | -11% |
|
97 |
Provo-Orem, UT |
$10.87 | -18% |
|
98 |
$5.59 | -21% | |
|
99 |
Chattanooga, TN-GA |
$4.98 | -5% |
|
100 |
Spokane-Spokane Valley, WA |
$11.01 | -20% |
Additional Google Real Estate Lead Gen Resources from CINC:
With the real estate market shifting, it is more important than ever to be more efficient paying for leads on Google. Try our free local Google real estate targeting tool here to find hidden pockets of more cost effective hyper-local leads near you.
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Watch our recent on-demand real estate lead gen webinar here where we discuss new trends for real estate teams and agents on Google Ads, including a deep dive on Google Local Service Ads (LSA's) for realtors.
Here are links to past historic Buyer Cost Per Lead Reports for Q4 2022, Q3 2022, Q2 2022, Q1 2022, Q4 2021, Q3 2021, Q2 2021, Q1 2021, Q4 2020, Q3 2020, Q2 2020, Q1 2020.