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This report analyzes the IPv4 transfer market for Second Half 2025, based on completed IPv4Center marketplace transactions and official RIR transfer records.
Executive Summary
481 IPv4 transactions closed during Second Half 2025, moving 3,050,752 addresses at an average clearing price of $24.78 per IP. Total estimated market turnover: $49,859,127.
That marks a 20.4% move (dropped) from First Half 2025 levels, with the average settling at $24.78.
That marks a 24.9% move (dropped) from Second Half 2024 levels, with the average settling at $24.78.
LACNIC addresses commanded top-of-market pricing at $28.22 per IP. The market-wide median held at $25.00.
Market Overview
| Transactions | 481 |
| IP Addresses Traded | 3,050,752 |
| Estimated Market Value | $49,859,127 |
| Average Price / IP | $24.78 |
| Median Price / IP | $25.00 |
| RIR Transfers | 4,831 |
Year-over-Year Comparison
| Metric | This period | A year earlier (H2 2024) | Change |
|---|---|---|---|
| Transactions | 481 | 409 | +17.6% |
| IP Addresses Traded | 3,050,752 | 1,176,832 | +159.2% |
| Estimated Market Value | $49,859,127 | $38,814,913 | +28.5% |
| Average Price / IP | $24.78 | $32.99 | -24.9% |
| RIR Transfers | 4,831 | 5,382 | -10.2% |
Price Dynamics
The pricing curve stayed more or less flat. Deal-level outcomes ranged from $11.00 to $45.00 per IP, reflecting the structural spread across block size, registry, and reputation.
Pricing by RIR
Per-registry pricing for Second Half 2025:
- RIPE: $25.16 per IP across 200 transactions (41.6% of volume).
- ARIN: $24.01 per IP across 232 transactions (48.2% of volume).
- APNIC: $26.31 per IP across 33 transactions (6.9% of volume).
- LACNIC: $28.22 per IP across 16 transactions (3.3% of volume).
| RIR | Transactions | Avg $/IP | Median $/IP | IPs Traded | RIR Transfers | Next Month (proj.) | Year-End (proj.) |
|---|---|---|---|---|---|---|---|
| RIPE | 200 | $25.16 | $26.25 | 643,584 | 3,205 | $19.91 | $21.63 |
| ARIN | 232 | $24.01 | $24.81 | 2,325,248 | 1,626 | $21.20 | $21.88 |
| APNIC | 33 | $26.31 | $26.00 | 38,144 | 0 | $23.53 | $25.00 |
| LACNIC | 16 | $28.22 | $28.00 | 43,776 | 0 | $29.22 | $30.00 |
Transaction Volume
Supply & Block Sizes
The most liquid segment: /24, with 153 trades. Buyers continue to favor smaller, immediately routable blocks.
Geographic Activity
Geographic concentration: US, CA, GB accounted for the majority of traded block activity.
Registry Transfer Activity
4,831 formal IPv4 transfers cleared through regional registries during Second Half 2025, with RIPE accounting for the largest share. These RIR-recorded transfers represent verified address movement.
RIPE 59.7% · ARIN 40.3%
Long-Run Transfer Trends
The aggregate picture: 30,058 IPv4 transfers across 36 months, with December 2024 delivering peak volume. Below, we decompose transfer activity by registry — RIPE, ARIN, APNIC, LACNIC, and AFRINIC — to isolate where momentum is concentrating.
RIR Distribution: RIPE: 59.7%, ARIN: 40.3%, APNIC: 0.0%, LACNIC: 0.0%, AFRINIC: 0.0%
| RIR | RIR Transfers |
|---|---|
| RIPE | 17,936 |
| ARIN | 12,122 |
| RIR Transfers | 30,058 |
Outlook & Forecast
Using ordinary least-squares regression on the trailing monthly price series:
The overall average price per IP is projected to reach $22.00 by December 2025, with a next-month estimate of $21.27 per IP.
- RIPE: projected at $19.91 per IP next month, trending toward $21.63 by December 2025.
- ARIN: projected at $21.20 per IP next month, trending toward $21.88 by December 2025.
- APNIC: projected at $23.53 per IP next month, trending toward $25.00 by December 2025.
- LACNIC: projected at $29.22 per IP next month, trending toward $30.00 by December 2025.
- AFRINIC: insufficient data for a reliable forecast.
Forward curve: approximately $21.27 per IP next month, $22.00 by December 2025. Projections assume continuation of prevailing trends and are subject to revision.
Editor's Take: Buy vs. Lease
The buy-versus-lease calculus: at current rates, /24 blocks lease for approximately $150.00 per month and sell for roughly $6,344. That implies a payback period of 42.3 months (3.5 years) — a gross rental yield of 28.4% annually.
At 42.3 months, the payback period falls well below our 90-month threshold — the economics favor outright acquisition. Operators can buy IPv4 today and rent out IPv4 to offset cost immediately. At these levels, the asset is attractively priced for purchase.
| /24 Purchase price | $6,344 |
| /24 Lease price | $150 / mo |
| Payback period | 42.3 mo (3.5 yr) |
| Gross annual yield | 28.4% |
What This Means for You
Full-lifecycle coverage: buy IPv4 from verified sellers with managed escrow, sell IPv4 through streamlined transfer processes, lease IPv4 for elastic capacity, or rent out IPv4 to generate yield on 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 28.4% 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) | 28.4% | 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 42.3 months and 28.4% annual yield — retains ownership. Under 7–8 years payback, leasing generally wins.
| /24 Purchase price | $6,344 |
| /24 Lease price | $150 / mo |
| Payback period | 42.3 mo (3.5 yr) |
| Gross annual yield | 28.4% |
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.
Deal Size Distribution
| Value Band | Deals | Share |
|---|---|---|
| < $50K | 330 | 68.6% |
| $50K – $250K | 109 | 22.7% |
| $250K – $1M | 15 | 3.1% |
| > $1M | 27 | 5.6% |
Top Trading Countries
| # | Country | Transactions | Share |
|---|---|---|---|
| 1 | US | 16 | 61.5% |
| 2 | CA | 3 | 11.5% |
| 3 | GB | 3 | 11.5% |
| 4 | BG | 1 | 3.8% |
| 5 | RU | 1 | 3.8% |
| 6 | DE | 1 | 3.8% |
| 7 | IT | 1 | 3.8% |
BEAD Broadband Program Impact
The US government's Broadband Equity, Access, and Deployment (BEAD) program has allocated $42.45 billion to expand internet access in rural and underserved areas. As funds flow primarily to regional ISPs who need IPv4 addresses for network buildouts, industry participants expect significant tightening of IPv4 supply — particularly for mid-sized blocks (/20 to /22) favored by smaller providers. BEAD recipients must meet audit and lawful access requirements that complicate carrier-grade NAT usage, making unique IPv4 allocations the preferred deployment path.
Hyperscaler IPv4 Holdings
Major cloud providers have accumulated massive IPv4 portfolios. AWS alone holds an estimated 191 million IPv4 addresses worth approximately $6.7 billion at current market rates. Microsoft, Google Cloud, and Oracle have collectively absorbed roughly 150 million addresses over the past five years. While the pace of hyperscaler accumulation has slowed as these companies increasingly build IPv6-native infrastructure, their existing holdings represent a significant portion of the total allocated IPv4 space and are unlikely to return to the secondary market.
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.
Model Update & Calibration
We reviewed our past projections against actual market outcomes and recalibrated the model for this report. The updated model places more weight on recent price movements using exponential decay, dynamically adjusts prediction bands to reflect current market conditions, and corrects for any systematic bias detected in earlier forecasts. The predicted-vs-actual comparison chart below shows how closely our past estimates tracked reality.
| Report Period | Target Month | Predicted | Actual | Deviation |
|---|---|---|---|---|
| 2024-Q3 | 2024-10 | $33 | $33 | -1% |
| 2024-Q4 | 2025-01 | $33 | $34 | -4% |
| 2025-Q1 | 2025-04 | $33 | $30 | +11% |
| 2025-H1 | 2025-07 | $28 | $28 | -1% |
| 2025-Q2 | 2025-07 | $28 | $28 | -1% |
| 2025-Q3 | 2025-10 | $23 | $24 | -4% |
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 Second Half 2025?
During Second Half 2025, IPv4 addresses traded at an average of $24.78 per IP, with a median of $25.00.
Which RIR had the most expensive IPv4 addresses in Second Half 2025?
LACNIC recorded the highest average per-IP price during Second Half 2025.
What's the IPv4 price forecast looking like?
Based on regression analysis of historical data, per-IP pricing is projected near $22.00 by December 2025. 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 42.3 months of equivalent lease payments. Below about 90 months, buying usually makes better long-term sense; above that, leasing helps preserve capital.