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This report analyzes the IPv4 transfer market for 2023, based on completed IPv4Center marketplace transactions and official RIR transfer records.
Executive Summary
In 2023, 543 IPv4 deals went through — that's 1,661,696 addresses changing hands, with the average clearing price landing at $37.68 per IP. Altogether, that works out to roughly $69,968,916 in market value.
ARIN addresses commanded the highest premiums at $37.94 per IP, while the market-wide median price sat at $37.50.
Market Overview
| Transactions | 543 |
| IP Addresses Traded | 1,661,696 |
| Estimated Market Value | $69,968,916 |
| Average Price / IP | $37.68 |
| Median Price / IP | $37.50 |
| RIR Transfers | 9,189 |
Price Dynamics
Pricing softened a bit over the recent series. On a deal-by-deal basis, outcomes spanned $28.00 to $53.00 per IP — the usual spread driven by block cleanliness, RIR, and size.
The fitted trend line suggests prices have been moving roughly 2.8% per month (dropped) over the recent window.
Pricing by RIR
Pricing varied quite a bit across registries in 2023. Here's the breakdown:
- RIPE averaged $37.83 per IP across 158 transactions, accounting for 29.1% of total volume.
- ARIN averaged $37.94 per IP across 311 transactions, accounting for 57.3% of total volume.
- APNIC averaged $35.96 per IP across 60 transactions, accounting for 11.0% of total volume.
- LACNIC averaged $37.79 per IP across 14 transactions, accounting for 2.6% of total volume.
| RIR | Transactions | Avg $/IP | Median $/IP | IPs Traded | RIR Transfers | Next Month (proj.) | Year-End (proj.) |
|---|---|---|---|---|---|---|---|
| RIPE | 158 | $37.83 | $37.00 | 710,144 | 5,879 | $31.42 | $18.33 |
| ARIN | 311 | $37.94 | $38.00 | 818,688 | 3,310 | $33.35 | $24.60 |
| APNIC | 60 | $35.96 | $34.00 | 76,544 | 0 | $29.97 | $18.62 |
| LACNIC | 14 | $37.79 | $38.00 | 56,320 | 0 | $34.95 | $30.02 |
Transaction Volume
Supply & Block Sizes
Supply was heaviest in /24 blocks (229 transactions). Smaller, easy-to-route blocks continue to dominate real-world demand.
Registry Transfer Activity
Looking at official registry data, 9,189 IPv4 transfers were recorded during 2023, with RIPE leading the pack. These numbers serve as a solid proxy for genuine, RIR-approved address movement.
Long-Run Transfer Trends
Taking a wider view across the full 12-month window, regional registries have handled 9,189 IPv4 transfers. Activity peaked in October 2023, and you can see the month-by-month breakdown across all five RIRs in the chart that follows.
| RIR | RIR Transfers |
|---|---|
| RIPE | 5,879 |
| ARIN | 3,310 |
| RIR Transfers | 9,189 |
Outlook & Forecast
Using ordinary least-squares regression on the trailing monthly price series:
The overall average price per IP is projected to reach $21.43 by December 2024, with a next-month estimate of $32.04 per IP.
- RIPE: projected at $31.42 per IP next month, trending toward $18.33 by December 2024.
- ARIN: projected at $33.35 per IP next month, trending toward $24.60 by December 2024.
- APNIC: projected at $29.97 per IP next month, trending toward $18.62 by December 2024.
- LACNIC: projected at $34.95 per IP next month, trending toward $30.02 by December 2024.
- AFRINIC: insufficient data for a reliable forecast.
If we extend the current trend line, per-IP pricing should land somewhere around $32.04 next month and roughly $21.43 by December 2024. These are directional estimates — not guarantees — and a supply shock could easily shift things.
Editor's Take: Buy vs. Lease
Here's the question buyers keep coming back to: with /24 blocks currently leasing for about $150.00 per month and selling for roughly $9,646, an outright purchase pays for itself in about 64.3 months (5.4 years) of equivalent lease payments — that's a gross rental yield of about 18.7% per year.
Since that payback period (64.3 months) comes in well under our 90-month benchmark, the math clearly favors buying right now. Even if you don't need the addresses immediately, you could buy IPv4 and rent out IPv4 to recover the cost quickly. At these price levels, the market is genuinely attractive for acquisition.
| /24 Purchase price | $9,646 |
| /24 Lease price | $150 / mo |
| Payback period | 64.3 mo (5.4 yr) |
| Gross annual yield | 18.7% |
What This Means for You
Whatever your situation, IPv4Center covers the full lifecycle: buy IPv4 from verified sellers, sell IPv4 with managed transfers and escrow, lease IPv4 for flexible capacity, or rent out IPv4 to monetize idle address space.
IPv4 Pricing by Block Size
IPv4 pricing varies significantly by block size. Larger blocks like /16s (65,536 IPs) typically trade at lower per-IP prices because the buyer pool is narrower, while /24s (256 IPs) command a premium thanks to their superior liquidity. At current market rates, /24 blocks trade in the $35–45 range per IP, /22s around $28–38, /20s at $22–32, and /16s between $18–28 per IP.
| Block | IPs | Buy: /IP | Buy: Total | Lease: /IP/mo | Lease: Monthly |
|---|---|---|---|---|---|
| /24 | 256 | $35–45 | $8,960–11,520 | $0.38–0.50 | $97–128 |
| /22 | 1,024 | $28–38 | $28,672–38,912 | $0.33–0.45 | $338–461 |
| /20 | 4,096 | $22–32 | $90,112–131,072 | $0.30–0.40 | $1,229–1,638 |
| /18 | 16,384 | $20–30 | $327,680–491,520 | $0.30–0.38 | $4,915–6,226 |
| /16 | 65,536 | $18–28 | $1,179,648–1,835,008 | $0.30–0.35 | $19,661–22,938 |
IPv4 Price History: 2011–2026
From 2011 to today, IPv4 pricing went through distinct phases. Early years (2011–2015): gradual price discovery as RIR pools exhausted. Mid-period (2016–2019): steady appreciation. The 2021–2022 spike: pandemic-era expansion meets speculative buying. Today's $18–45 range reflects a maturing market.
| Year | ~Price/IP | Key Event |
|---|---|---|
| 2011 | $7–12 | IANA free pool exhausted; Microsoft/Nortel deal ($11.25/IP) |
| 2012 | $8–12 | RIPE NCC reaches last /8; begins /22-only allocation |
| 2014 | $10–15 | LACNIC free pool exhausted |
| 2015 | $8–15 | ARIN free pool exhausted |
| 2017–18 | $12–18 | Leasing market grows; cloud demand rises |
| 2019 | $18–24 | RIPE NCC exhausts remaining free pool |
| 2021–22 | $50–60+ | Post-pandemic peak; hyperscaler build-outs |
| 2024 | $35–52 | AWS IPv4 charge ($0.005/IP/hr); large block correction |
| 2025–26 | $18–45 | Market bifurcation; /16s below $20 for first time since 2019 |
Market Structure: Who Is Buying & Selling
The IPv4 market composition has shifted. Demand is no longer dominated by hyperscalers — AWS, Microsoft, Google, and Oracle absorbed roughly 150 million IPs over five years, but that phase has slowed. Today's buyers: ISPs in emerging markets, hosting providers, VPN operators, and AI infrastructure companies. Sellers: legacy telecoms, universities with oversized allocations, and holders splitting /16s for better per-IP pricing.
IPv4 vs. Other Asset Classes
IPv4 functions as a digital infrastructure asset class with real yield. At current rates, a /24 block generates roughly 18.7% gross annual yield through leasing — above commercial real estate (5–8%), bonds (4–5%), or S&P 500 dividends (~1.3%). For pre-2020 acquirers, yields exceed 25% annually. The trade-off: no central exchange, unique risks, and long-term IPv6 displacement.
| Asset Class | Typical Yield | Liquidity | Primary Risk |
|---|---|---|---|
| IPv4 (current acquisition) | 18.7% | Moderate | IPv6 adoption, block quality |
| Commercial Real Estate | 5–8% | Low | Vacancy, rate cycle |
| Investment-Grade Bonds | 4–5% | High | Duration, credit risk |
| S&P 500 Dividends | ~1.3% | High | Market volatility |
| Money Market / T-Bills | ~4–5% | High | Rate cycle changes |
IPv6 Adoption & Why IPv4 Remains Essential
IPv6 adoption grows incrementally, but it's not reducing near-term IPv4 demand. Most environments run dual-stack — IPv6 for forward compatibility, IPv4 for legacy systems, email, and third-party integrations. Organizations add IPv6 alongside IPv4, they don't replace it. The consensus: IPv4 remains necessary for at least 5–10 more years.
AI & Cloud Infrastructure Demand
The AI boom consumes IPv4 addresses at an accelerating pace. Every training cluster and inference endpoint needs routable addresses. The burst-driven pattern of AI workloads aligns with leasing rather than purchasing.
What Determines IPv4 Block Value
Several factors impact IPv4 block value: block size (smaller = more liquid), reputation (clean blocks command premiums), RIR region (ARIN/RIPE most traded, APNIC highest lease rates), documentation quality (RPKI, LOA, WHOIS), and routing status (announced blocks worth more than dark ones).
Sell vs. Lease: A Decision Framework
The sell-vs-lease decision: capital now versus recurring income. Selling delivers immediate liquidity but gives up the asset permanently. Leasing — with a payback period around 64.3 months and 18.7% annual yield — retains ownership. Under 7–8 years payback, leasing generally wins.
| /24 Purchase price | $9,646 |
| /24 Lease price | $150 / mo |
| Payback period | 64.3 mo (5.4 yr) |
| Gross annual yield | 18.7% |
RIPE NCC 24-Month Transfer Restriction
RIPE NCC enforces a 24-month holding requirement on transferred blocks. Acquired blocks cannot be re-transferred for two years. Leasing is unaffected — only ownership transfer is locked. Investment buyers should build this into ROI calculations.
Macroeconomic Conditions & Market Impact
Macroeconomic conditions affect IPv4 pricing. Tight capital markets slow acquisitions, pushing prices down. High interest rates increase the opportunity cost of IPv4 purchases, favoring leasing. Government programs like the $42.45B US BEAD broadband expansion can create regional demand surges.
Methodology
Figures are based on completed IPv4Center marketplace transactions and RIR transfer statistics. Prices are expressed in US dollars per IP address. Forecasts use linear regression over the trailing 24 months and are estimates, not guarantees.
Source: IPv4Center.com market data and RIR transfer statistics.
This report is generated automatically for informational purposes only and does not constitute financial advice.
Frequently Asked Questions
What was the average IPv4 price in 2023?
During 2023, IPv4 addresses traded at an average of $37.68 per IP, with a median of $37.50.
Which RIR had the most expensive IPv4 addresses in 2023?
ARIN recorded the highest average per-IP price during 2023.
What's the IPv4 price forecast looking like?
Based on regression analysis of historical data, per-IP pricing is projected near $21.43 by December 2024. Keep in mind this is a projection, not a guarantee.
Should I buy or lease IPv4 right now?
At current price levels, buying pays back in roughly 64.3 months of equivalent lease payments. Below about 90 months, buying usually makes better long-term sense; above that, leasing helps preserve capital.