15 min read
This report analyzes the IPv4 transfer market for May 2026, based on completed IPv4Center marketplace transactions and official RIR transfer records.
Executive Summary
The IPv4 transfer market posted 105 transactions in May 2026, moving 402,688 addresses at a weighted average of $19.57 per IP — virtually flat against April's $19.47 (+0.1%) but down a striking 32.3% from May 2025's levels. Total transaction value came in at $5.75 million. The median held at $19.50, tight against the average, which signals a market that has largely found its clearing level after two years of sustained compression. Transaction volume slipped 4.5% from April, and the overall trend remains firmly down.Market Overview
| Transactions | 105 |
| IP Addresses Traded | 402,688 |
| Estimated Market Value | $5,745,222 |
| Average Price / IP | $19.57 |
| Median Price / IP | $19.50 |
| RIR Transfers | 587 |
Year-over-Year Comparison
| Metric | This period | A year earlier (May 2025) | Change |
|---|---|---|---|
| Transactions | 105 | 72 | +45.8% |
| IP Addresses Traded | 402,688 | 444,672 | -9.4% |
| Estimated Market Value | $5,745,222 | $9,098,981 | -36.9% |
| Average Price / IP | $19.57 | $28.91 | -32.3% |
| RIR Transfers | 587 | 563 | +4.3% |
Price Dynamics
The spread between the cheapest and most expensive addresses traded in May was enormous: $10 to $41 per IP. That $41 ceiling showed up in ARIN, likely a clean /24 with legacy provenance — the kind of block that still commands a premium even in a buyer's market. The floor at $10 also originated in ARIN, probably a larger aggregated block where per-IP pricing naturally compresses. The regression line is basically flat month-over-month (+$0.10), which tells us the rapid price erosion that characterized late 2024 and most of 2025 has slowed to a crawl. We're in a grinding, low-volatility regime now. The 32.3% year-over-year decline — from roughly $28.90 in May 2025 — represents the market still digesting the structural demand shift triggered by AWS's public IPv4 charge and the broader industry reckoning with address economics.
Pricing by RIR
ARIN dominated volume at 50.5% of IPs traded, but RIPE led on transaction count with 46 deals versus ARIN's 53 — reflecting smaller average block sizes in the RIPE region. The pricing gap between the two is narrowing but still present: RIPE averaged $20.24/IP (median $21.13) versus ARIN at $19.16 (median $18.25). That $1.08 average premium for RIPE blocks has compressed from historical norms of $3–5 and suggests the two registries are converging fast. APNIC came in at $17.50 across just 5 transactions totaling 80,896 IPs — the discount there reflects both larger block sizes and thinner regional demand. LACNIC posted a single deal at $21.00/IP, the priciest RIR average this month, though one transaction is hardly a trend.ARIN: $19.16/IP across 53 transactions (49.6% of volume).
RIPE: $20.24/IP across 46 transactions (29.3% of volume).
APNIC: $17.50/IP across 5 transactions (20.1% of volume).
LACNIC: $21.00/IP across 1 transaction (1.0% of volume).
AFRINIC: No recorded transactions.
| RIR | Transactions | Avg $/IP | Median $/IP | IPs Traded | RIR Transfers | Next Month (proj.) | Year-End (proj.) |
|---|---|---|---|---|---|---|---|
| RIPE | 46 | $20.24 | $21.13 | 118,016 | 404 | $21.00 | $19.50 |
| ARIN | 53 | $19.16 | $18.25 | 199,680 | 183 | $17.50 | $16.00 |
| APNIC | 5 | $17.50 | $17.00 | 80,896 | 0 | $16.50 | $14.50 |
| LACNIC | 1 | $21.00 | $21.00 | 4,096 | 0 | $22.00 | $20.00 |
Transaction Volume
Supply & Block Sizes
The /24 remained the most frequently traded prefix, accounting for 27 of 105 transactions — roughly a quarter of all deals. Buyers continue to favor /24s for single-subnet deployments, email reputation management, and geo-targeted hosting, even though the per-IP premium on a 256-address block runs well above bulk pricing. The average deal size dropped to 3,835 IPs (54,716 total IPs ÷ adjusted), down sharply from 80,193 in April, indicating a shift toward smaller, retail-oriented transactions this month.
Geographic Activity
The United States led with 42 transactions, followed by Great Britain at 17 and Canada at 11. Together these three markets accounted for roughly 67% of all deals — a concentration that has held remarkably steady over the past two years. The Netherlands and Ireland each posted 4 transactions, reflecting continued hosting and data center demand in Western Europe. Sporadic activity from Hong Kong, Japan, Australia, and Venezuela rounds out the geographic picture but doesn't move aggregate pricing.Registry Transfer Activity
Official RIR transfer registrations totaled 587 in May, well above the 105 priced transactions in our dataset — the gap represents intra-company transfers, pre-arranged moves, and legacy reassignments that don't hit the open market. RIPE led with 404 recorded transfers, dwarfing ARIN's 183. That RIPE-heavy skew in administrative transfers versus ARIN's dominance in commercial transactions is a structural feature of the market: RIPE's transfer framework captures more non-commercial activity.Long-Run Transfer Trends
Across our 41-month tracking window, cumulative transfers stand at 33,702. The peak month was December 2024, which coincided with year-end portfolio optimization and the final wave of aggressive selling ahead of anticipated price declines. Monthly transfer volumes have since settled into a lower, steadier cadence — consistent with a market that has moved past the panic-selling phase and into equilibrium.| RIR | RIR Transfers |
|---|---|
| RIPE | 20,236 |
| ARIN | 13,466 |
| RIR Transfers | 33,702 |
Outlook & Forecast
Forecasting each block-size band and RIR separately with our AI model:
The overall average price per IP is projected to reach $18.26 by December 2026, with a next-month estimate of $19.45 per IP.
- RIPE: projected at $21.00 per IP next month, trending toward $19.50 by December 2026.
- ARIN: projected at $17.50 per IP next month, trending toward $16.00 by December 2026.
- APNIC: projected at $16.50 per IP next month, trending toward $14.50 by December 2026.
- LACNIC: projected at $22.00 per IP next month, trending toward $20.00 by December 2026.
- AFRINIC: insufficient data for a reliable forecast.
Forecast by Block Size
| Block | Current $/IP | Next Month | Year-End | Confidence |
|---|---|---|---|---|
| /24 | $25.00 | $24.50 (-2.0%) | $23.00 (-8.0%) | medium |
| /23 | $21.13 | $21.00 (-0.6%) | $19.50 (-7.7%) | medium |
| /22 | $18.50 | $18.00 (-2.7%) | $17.00 (-8.1%) | medium |
| /21 | $16.50 | $16.50 (0.0%) | $15.50 (-6.1%) | medium |
| /20 | $15.88 | $15.75 (-0.8%) | $15.00 (-5.5%) | medium |
| /19 | $14.50 | $14.50 (0.0%) | $13.50 (-6.9%) | low |
| /18-/16 | $13.50 | $13.00 (-3.7%) | $12.50 (-7.4%) | low |
| /15-up | $10.00 | $10.00 (0.0%) | $9.50 (-5.0%) | low |
Editor's Take: Buy vs. Lease
At current pricing, the buy-versus-lease calculus tilts firmly toward buying. A /24 costs roughly $5,010 to purchase outright. Leasing the same block runs $150/month, or $1,800/year. That means the break-even on a purchase arrives at just 33.4 months — under three years. For any organization planning to hold addresses beyond that horizon, buying is the rational choice. The implied annual yield for a lessor sits at 35.9%, which is extraordinary by any fixed-income standard. But that yield reflects counterparty risk, operational overhead, and the secular price decline in the underlying asset. If you're sitting on unused blocks, leasing generates strong cash flow while prices continue to erode — but don't wait too long. A year-end price of $18.26 means your asset is depreciating at roughly 7% over seven months.| /24 Purchase price | $5,010 |
| /24 Lease price | $150 / mo |
| Payback period | 33.4 mo (2.8 yr) |
| Gross annual yield | 35.9% |
What This Means for You
Buyers: You're operating in the most favorable pricing environment since the IANA free pool dried up. At $19.57/IP, mid-size blocks (/20 to /22) offer the best value per address. Don't rush — the forecast shows continued softening — but don't get greedy waiting for $15 either. The floor is closer than it looks.Sellers: If you've been holding out for a price recovery, the data isn't cooperating. Prices are down 32.3% year-over-year and the trend line points lower. Every month you wait costs you roughly 1% in asset value. Consider partial liquidation now and lease the remainder.
Leasers: Monthly rates of $0.59/IP ($150 per /24) remain attractive for short-term needs — testing, campaigns, seasonal capacity. But if your time horizon exceeds 33 months, you're overpaying relative to purchase.
Block Holders: Leasing yields of 35.9% annualized are hard to ignore, but they come with management costs and the risk of tenant-related blacklisting. Vet your lessees carefully. Clean blocks command premiums; damaged ones don't.
Browse verified IPv4 blocksSell IPv4 →
List your blocks with managed transferLease IPv4 →
Flexible short-term capacityLease Out IPv4 →
Turn idle blocks into recurring revenue
IPv4 Pricing by Block Size
The /24 segment continues to carry a meaningful per-IP premium — blocks at that size traded near the upper end of the $18–$30 range, while /16-equivalent volumes cleared closer to $14–$18. The per-IP discount for bulk (/18 and larger) runs 15–25% below /24 pricing, which is consistent with historical norms. Buyers who can aggregate smaller blocks into contiguous space still capture arbitrage, though those opportunities are increasingly scarce.| 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
IPv4 addresses first acquired meaningful market value after IANA exhausted its free pool in 2011. Prices climbed steadily through the 2010s, accelerating sharply during 2021–2022 when averages briefly exceeded $50/IP for clean /24s. The structural break came in mid-2024 when AWS began charging $0.005/hour for public IPv4 addresses, prompting a wave of address returns and forced rationalization across the cloud ecosystem. Since that peak, prices have bifurcated: small blocks retain modest premiums, while bulk inventory has repriced aggressively — down more than 60% from the 2022 highs in some cases.| 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 buy side is dominated by mid-tier cloud providers, regional ISPs expanding footprint, and hosting companies backfilling address needs. Enterprise buyers have thinned out — most large corporates now optimize existing allocations or lean on NAT/CGN rather than acquire new space. The sell side is a mix of legacy holders monetizing dormant allocations, distressed telecom assets, and private equity portfolio companies executing IP-to-cash conversions.IPv4 vs. Other Asset Classes
At a 35.9% implied annual lease yield, IPv4 addresses outperform virtually every conventional asset class on a current-income basis. U.S. Treasuries yield around 4.5%; investment-grade real estate caps hover near 6%; even high-yield corporate debt doesn't crack 10%. The catch is depreciation: the underlying asset is losing roughly 7–10% annually in market value. Net of depreciation, the effective yield still clears 25% — attractive, but only for holders who can manage the operational side and absorb the residual risk of IPv6 adoption eventually compressing demand to zero.| Asset Class | Typical Yield | Liquidity | Primary Risk |
|---|---|---|---|
| IPv4 | 35.9% | 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 | ~1,3% | High | Market volatility |
| Money Market / T-Bills | ~4–5% | High | Rate cycle changes |
IPv6 Adoption & Why IPv4 Remains Essential
IPv6 adoption continues its glacial advance. Google reports roughly 45% of traffic reaching its services over IPv6, and mobile carriers have largely transitioned — but enterprise networks, legacy infrastructure, and much of the hosting ecosystem remain stubbornly v4-dependent. The coexistence period stretches out at least another decade. IPv4 addresses remain a functional necessity for any network operator that needs to reach the full internet without translation overhead.AI & Cloud Infrastructure Demand
AI infrastructure buildout is a tangible but not dominant driver of IPv4 demand in 2026. Large-scale training clusters typically sit behind a handful of public IPs with heavy NATing, but inference farms — especially those serving edge workloads and API endpoints — require routable address space at scale. Several hyperscaler-adjacent AI companies have appeared in the /20 to /18 transaction range this year, quietly accumulating blocks. The demand isn't overwhelming the market, but it is providing a floor under mid-size block pricing.What Determines IPv4 Block Value
Block valuation depends on five key variables: blacklist cleanliness (a block on Spamhaus drops 20–40% in value), allocation vintage (older legacy blocks carry fewer transfer restrictions), RIR region (RIPE and ARIN command premiums over APNIC), prefix contiguity (aggregatable space is worth more), and transfer history (blocks that have changed hands multiple times in short periods raise flags). Buyers should always run a full reputation check before closing — the cost of remediation often exceeds the discount obtained.Sell vs. Lease: A Decision Framework
For holders with clean blocks and no operational use for them, leasing at $0.59/IP/month generates 35.9% annualized returns — hard to beat. But if your forecast aligns with ours and you expect another 7% of price erosion by December, selling now and redeploying capital elsewhere may be the better risk-adjusted move. The decision hinges on your operational capacity to manage lease relationships and your conviction about the pace of price decline.| /24 Purchase price | $5,010 |
| /24 Lease price | $150 / mo |
| Payback period | 33.4 mo (2.8 yr) |
| Gross annual yield | 35.9% |
RIPE NCC 24-Month Transfer Restriction
RIPE's 24-month holding requirement continues to constrain short-term speculative activity in the European market. Blocks acquired through RIPE transfers cannot be re-transferred for two years, which locks up supply and creates a natural inventory bottleneck. This rule partly explains why RIPE per-IP pricing ($20.24) runs above ARIN ($19.16) — the friction cost of reduced liquidity gets priced in. Buyers should factor the holding period into any RIPE acquisition strategy.Deal Size Distribution
The market is increasingly retail. Eighty-one of 105 transactions (77%) fell under $50,000 in value, though they accounted for only $1.23 million — just 21% of total dollar volume. The heavy lifting came from 8 deals above $250K, which together represented $4.81 million or 84% of total value. Average deal size dropped to roughly 3,835 IPs from 80,193 in April — a sharp shift toward smaller, opportunistic purchases. Two deals exceeded $1 million, contributing $2.57 million between them.Top Trading Countries
The United States accounted for 40% of all transactions, consistent with its position as both the largest source and consumer of IPv4 space. Great Britain posted 17 deals, driven by London's dense hosting and financial services ecosystem. Canada's 11 transactions reflect steady ISP demand in a market with limited domestic supply. The Netherlands and Ireland, both major European data center hubs, contributed 4 deals each.BEAD Broadband Program Impact
The $42.45 billion BEAD program is beginning to flow into state-level broadband buildouts, and the IPv4 implications are real. Rural ISPs and fixed wireless operators receiving BEAD funding will need routable address space for subscriber deployments — typically /20 to /18 blocks. As construction timelines accelerate through 2026–2027, expect incremental demand pressure on mid-size blocks, particularly in ARIN. This could create a localized tightening even as aggregate prices drift lower.Hyperscaler IPv4 Holdings
Microsoft, Amazon, Apple, and Google collectively control millions of IPv4 addresses, much of it acquired through M&A or legacy allocations. Amazon's decision to charge for public IPv4 usage was the single most impactful market event of the past three years — it triggered mass address returns and fundamentally repriced the asset class. Any move by a major holder to monetize a large block would flood supply and push prices sharply lower. For now, hyperscalers appear content to hold, but this overhang remains the market's biggest tail risk.Macroeconomic Conditions & Market Impact
Enterprise IT budgets remain constrained heading into H2 2026, with CIOs prioritizing AI/ML spending over network infrastructure. Higher-for-longer interest rates have kept the cost of capital elevated, reducing appetite for large IPv4 portfolio acquisitions that require upfront cash. The macro backdrop is mildly bearish for IPv4 pricing — when capital is expensive, buyers negotiate harder and sellers have fewer bidders.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 |
|---|---|---|---|---|
| 2025-H2 | 2026-01 | $22 | $21 | +5% |
| 2025-Q4 | 2026-01 | $22 | $21 | +4% |
| 2026-01 | 2026-02 | $19 | $21 | -6% |
| 2026-Q1 | 2026-04 | $19 | $20 | -4% |
| 2026-02 | 2026-03 | $20 | $19 | +6% |
| 2026-03 | 2026-04 | $18 | $20 | -7% |
Methodology
Figures are based on completed IPv4Center marketplace transactions and RIR transfer statistics. Prices are in US dollars per IP address. Forecasts are produced by an AI model that analyses each block-size band and RIR segment separately (with outlier-trimmed medians) alongside known market catalysts; they are estimates, not guarantees.
Data Sources
- Hilco Streambank — Completed auction transaction records
- RIPE NCC — Inter-RIR and intra-RIR transfer statistics
- ARIN — North American transfer reports and waiting list data
- APNIC — Asia-Pacific transfer records
- LACNIC — Latin American and Caribbean transfer data
- IPv4Center.com — Proprietary marketplace transaction and lease pricing data
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 May 2026?
During May 2026, IPv4 addresses traded at an average of .57 per IP, with a median of .50.
Which RIR had the most expensive IPv4 addresses in May 2026?
LACNIC recorded the highest average per-IP price during May 2026.
What's the IPv4 price forecast looking like?
Based on regression analysis of historical data, per-IP pricing is projected near .26 by December 2026. 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 33.4 months of equivalent lease payments. Below about 90 months, buying usually makes better long-term sense; above that, leasing helps preserve capital.
How much does a /24 IPv4 block cost?
A /24 block (256 addresses) — the smallest independently routable unit — currently trades between and per IP, making it the most liquid segment of the market.
Why are /16 blocks cheaper per IP than /24s?
Larger blocks like /16s (65,536 IPs) trade at –28 per IP because the buyer pool is smaller and the total transaction value is much higher, which limits demand to well-capitalized buyers.
How do RIPE and ARIN IPv4 prices compare?
RIPE and ARIN blocks account for the majority of secondary-market transactions. Pricing varies by block reputation and size, but both registries trade within broadly similar ranges. During May 2026, LACNIC led in average per-IP pricing.
What makes APNIC IPv4 addresses unique in the market?
APNIC blocks tend to command the highest lease rates due to strong demand from Asian cloud and hosting operators. Supply is tighter in the APNIC region, which supports a price premium.
Are LACNIC IPv4 blocks available for purchase?
LACNIC blocks do trade on the secondary market, though volume is lower than RIPE or ARIN. Buyers should verify that LACNIC transfer policies are met before initiating a transaction.
What are the advantages of leasing IPv4 over buying?
Leasing preserves capital, avoids the RIPE 24-month holding lock, and offers flexibility to scale up or down. It is especially attractive when the buy-vs-lease payback exceeds roughly 90 months.
When does buying IPv4 make more financial sense than leasing?
Buying makes sense when the payback period — currently around 33.4 months — is well below 90 months. Ownership also lets you generate lease income on idle addresses, turning the block into a yield-bearing asset.
How long does an IPv4 transfer typically take?
A standard inter-RIR or intra-RIR transfer takes 2–6 weeks depending on the registry, documentation quality, and whether both parties respond promptly. ARIN transfers tend to be faster; RIPE and APNIC may take longer.
Is IPv6 adoption making IPv4 obsolete?
Not yet. Around 40–45% of global traffic uses IPv6, but most networks run dual-stack. Legacy compatibility, email reputation, and regulatory requirements keep IPv4 firmly in demand for at least 5–10 more years.
How is AI infrastructure driving IPv4 demand?
AI training clusters, inference endpoints, and hybrid deployments all need routable IPv4 addresses. The burst-driven nature of AI workloads makes leasing a natural fit for rapid scale-up.
How much IPv4 space do hyperscalers like AWS hold?
AWS alone holds an estimated 191 million IPv4 addresses worth roughly .7 billion. Microsoft, Google Cloud, and Oracle collectively absorbed about 150 million addresses over five years, though accumulation has slowed.
What factors determine an IPv4 block's value?
Key factors include block size (smaller = more liquid), blacklist reputation (clean blocks command premiums), RIR region, RPKI and LOA documentation quality, and whether the block is actively announced via BGP.
Why does BGP routing history matter for IPv4 blocks?
Blocks with a clean routing history are easier to announce and less likely to trigger upstream filtering. Dark or previously hijacked blocks can face deliverability issues, reducing their market value.
How have IPv4 prices evolved since the market began?
The secondary market started in 2011 at roughly per IP. Prices rose to –24 by 2019, spiked above during the 2021–2022 boom, and have since corrected to the current .57 range as the market matured.
What is the RIPE 24-month holding rule?
RIPE NCC requires that transferred blocks be held for 24 months before they can be re-transferred. Leasing is unaffected — only ownership changes are locked. Investors should factor this into ROI calculations.
How will the US BEAD broadband program affect IPv4 supply?
The .45 billion BEAD program funds rural ISP buildouts that require IPv4 addresses. Industry participants expect significant supply tightening, especially for mid-sized /20 to /22 blocks favored by regional providers.
What mistakes should be avoided when leasing IPv4?
Common pitfalls include skipping blacklist verification, not confirming LOA and RPKI setup, choosing providers without clear SLAs, and failing to verify that the lessor actually controls the address space through the relevant RIR.
What are the risks of buying IPv4 without a blacklist check?
Purchasing a blacklisted block can result in email delivery failures, ad network bans, and upstream filtering. Always run comprehensive blacklist checks before closing a deal — remediation after purchase is costly and time-consuming.
Why should you never skip escrow in an IPv4 transaction?
Escrow protects both buyer and seller by holding funds until the RIR confirms the transfer. Without it, you risk paying for a block that never transfers or delivering a block without receiving payment.
What happens if you ignore RIR transfer policies?
Attempting transfers outside official RIR procedures can result in rejected applications, address space revocation, or legal disputes. Each registry has specific requirements for documentation, needs justification, and approval timelines.
Why is it risky to skip due diligence on IPv4 documentation?
Incomplete RPKI, missing LOAs, or inconsistent WHOIS records reduce a block's usability and resale value. Proper documentation ensures smooth routing, protects against hijacking claims, and maintains the block's market premium.
