8 min read
This report analyzes the IPv4 transfer market for Q2 2025, based on completed IPv4Center marketplace transactions and official RIR transfer records.
Executive Summary
In Q2 2025, 219 IPv4 deals went through — that's 1,219,840 addresses changing hands, with the average clearing price landing at $29.02 per IP. Altogether, that works out to roughly $26,772,793 in market value.
Compared to Q1 2025, the average per-IP price dropped by 13.3%, settling at $29.02.
Compared to Q2 2024, the average per-IP price dropped by 12.5%, settling at $29.02.
APNIC addresses commanded the highest premiums at $31.19 per IP, while the market-wide median price sat at $29.00.
Market Overview
| Transactions | 219 |
| IP Addresses Traded | 1,219,840 |
| Estimated Market Value | $26,772,793 |
| Average Price / IP | $29.02 |
| Median Price / IP | $29.00 |
| RIR Transfers | 1,974 |
Year-over-Year Comparison
| Metric | This period | A year earlier (Q2 2024) | Change |
|---|---|---|---|
| Transactions | 219 | 196 | +11.7% |
| IP Addresses Traded | 1,219,840 | 393,984 | +209.6% |
| Estimated Market Value | $26,772,793 | $13,283,978 | +101.5% |
| Average Price / IP | $29.02 | $33.18 | -12.5% |
| RIR Transfers | 1,974 | 2,243 | -12.0% |
Price Dynamics
Looking at the trailing data, average per-IP pricing softened a bit. Individual deals ranged anywhere from $17.80 to $40.00 per address, depending on block size, registry, and reputation.
Our regression model puts the recent monthly drift at about 1.2% (dropped).
Pricing by RIR
The registry-level picture for Q2 2025 shows some notable differences:
- RIPE averaged $29.97 per IP across 72 transactions, accounting for 32.9% of total volume.
- ARIN averaged $28.27 per IP across 126 transactions, accounting for 57.5% of total volume.
- APNIC averaged $31.19 per IP across 13 transactions, accounting for 5.9% of total volume.
- LACNIC averaged $28.79 per IP across 8 transactions, accounting for 3.7% of total volume.
| RIR | Transactions | Avg $/IP | Median $/IP | IPs Traded | RIR Transfers | Next Month (proj.) | Year-End (proj.) |
|---|---|---|---|---|---|---|---|
| RIPE | 72 | $29.97 | $30.00 | 201,728 | 1,136 | $31.69 | $29.78 |
| ARIN | 126 | $28.27 | $28.00 | 997,376 | 838 | $32.37 | $30.55 |
| APNIC | 13 | $31.19 | $30.00 | 18,688 | 0 | $31.14 | $29.86 |
| LACNIC | 8 | $28.79 | $29.00 | 2,048 | 0 | $29.17 | $27.09 |
Transaction Volume
Supply & Block Sizes
The most traded block size was /24, with 73 deals — still the liquidity sweet spot for most buyers looking for route-ready space.
Registry Transfer Activity
Beyond what we see on marketplaces, 1,974 formal IPv4 transfers went through the registries in Q2 2025 (led by RIPE), confirming that real-world block reallocation continues at pace.
Long-Run Transfer Trends
If we zoom out from any single period, the numbers tell a pretty clear story: over the 30 months we've been tracking, registries have processed 25,227 IPv4 transfers in total. The busiest month was December 2024 by a good margin. You can trace how transfer volume shifted between RIPE, ARIN, APNIC, LACNIC, and AFRINIC in the chart below.
| RIR | RIR Transfers |
|---|---|
| RIPE | 14,731 |
| ARIN | 10,496 |
| RIR Transfers | 25,227 |
Outlook & Forecast
Using ordinary least-squares regression on the trailing monthly price series:
The overall average price per IP is projected to reach $29.79 by December 2025, with a next-month estimate of $31.64 per IP.
- RIPE: projected at $31.69 per IP next month, trending toward $29.78 by December 2025.
- ARIN: projected at $32.37 per IP next month, trending toward $30.55 by December 2025.
- APNIC: projected at $31.14 per IP next month, trending toward $29.86 by December 2025.
- LACNIC: projected at $29.17 per IP next month, trending toward $27.09 by December 2025.
- AFRINIC: insufficient data for a reliable forecast.
Our model projects roughly $31.64 per IP next month, trending toward $29.79 by December 2025. As always, treat forecasts as guideposts, not promises.
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 $7,429, an outright purchase pays for itself in about 49.5 months (4.1 years) of equivalent lease payments — that's a gross rental yield of about 24.2% per year.
Since that payback period (49.5 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 | $7,429 |
| /24 Lease price | $150 / mo |
| Payback period | 49.5 mo (4.1 yr) |
| Gross annual yield | 24.2% |
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
Block size matters a lot when it comes to IPv4 pricing. A /24 block — the minimum routable unit at 256 addresses — currently sells for roughly $35–45 per IP, reflecting strong demand from smaller operators. Move up to a /16 and per-IP prices drop to the $18–28 range.
| 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
The IPv4 secondary market effectively began in 2011, when IANA exhausted its free pool and Microsoft acquired 666,624 addresses from Nortel at $11.25 per IP. Prices climbed through the 2010s: $8–15 by 2014 as LACNIC exhausted its pool, $18–24 by late 2019 when RIPE ran out. The 2021–2022 boom pushed prices above $60/IP, driven by hyperscaler build-outs. The correction since has been structural — large blocks to $18–28, small blocks holding at $35–45.
| 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 24.2% 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) | 24.2% | 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
The IPv6 transition is real but much slower than predicted. Around 40–45% of internet traffic uses IPv6, but enterprise and carrier networks still rely on dual-stack. Legacy compatibility, email reputation, and regulatory requirements keep IPv4 firmly in place.
AI & Cloud Infrastructure Demand
AI infrastructure is a growing driver of IPv4 demand. Compute clusters, hybrid training environments, and edge deployments all need routable IPv4 for compatibility. AI companies prioritize rapid scale-up and flexibility without long-term lock-in, making leasing a natural fit.
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 49.5 months and 24.2% annual yield — retains ownership. Under 7–8 years payback, leasing generally wins.
| /24 Purchase price | $7,429 |
| /24 Lease price | $150 / mo |
| Payback period | 49.5 mo (4.1 yr) |
| Gross annual yield | 24.2% |
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.
Forecast Accuracy & Model Performance
Looking back at 2 published forecasts, the average prediction deviated from reality by 7.5%. We correctly anticipated the price direction 0% of the time, and 0% of actual prices landed within our projected range. The systematic bias sits at -7.5%, which we now factor into every new forecast.
| Report | Target | Predicted | Actual | Error | In Band |
|---|---|---|---|---|---|
| 2023 | 2024-01 | $32 | $34 | -6% | ✗ |
| 2024 | 2025-01 | $31 | $34 | -9% | ✗ |
MAPE: 8% · Direction accuracy: 0% · Within band: 0%
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 Q2 2025?
During Q2 2025, IPv4 addresses traded at an average of $29.02 per IP, with a median of $29.00.
Which RIR had the most expensive IPv4 addresses in Q2 2025?
APNIC recorded the highest average per-IP price during Q2 2025.
What's the IPv4 price forecast looking like?
Based on regression analysis of historical data, per-IP pricing is projected near $29.79 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 49.5 months of equivalent lease payments. Below about 90 months, buying usually makes better long-term sense; above that, leasing helps preserve capital.