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Multifamily PPC benchmarks are most useful when they help teams separate “acceptable” from “actually strong.” In today’s market, a good campaign is not just one that gets clicks; it is one that brings in efficient, qualified traffic and turns that traffic into leads at a sustainable cost.
Benchmarks vary by industry, campaign type, and location, so apartment advertisers should not compare themselves to generic ecommerce or home services numbers. For multifamily specifically, Google Ads data shows that real estate campaigns have a 2026 average CPC of $3.22, a CTR of 7.61%, and a CPL of $102.51 across the broader category, which helps set a baseline for the space.
What “good” looks like
Good PPC performance in multifamily usually means the account is efficient, controlled, and aligned with leasing goals. A strong account often has relevant search terms, consistent conversion tracking, clean location targeting, and landing pages that match the ad message. High CTR alone is not enough if those clicks do not turn into qualified leads or tours.
The data is a good reminder that search and Performance Max should not be treated as competitors; they do different jobs. Standard search produced higher CTR in the dataset, while Performance Max delivered better cost efficiency on CPC, CPA, and cost per phone call. That means “good” may look different depending on whether the goal is visibility, lead volume, or cost efficiency.
The best benchmark is not the industry average. It is whether your campaigns are producing qualified traffic at a cost that supports occupancy and revenue goals. In multifamily, a good PPC account is one that helps teams spend smarter, not just spend more.