2026 SEARCH AD BENCHMARK REPORT

The Industry Paid More. Repli Delivered More.

Real estate search advertising is getting more expensive. Real estate cost per click jumped 27% in a single year. Repli-managed Google Search campaigns delivered leads at 45% below the industry benchmark. We analyzed 1,961 campaigns across 550+ client ad accounts to uncover what the numbers reveal about better paid search performance.

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the overview.

Pricier clicks. Better results.


What does strong search performance look like in a year when advertising costs are climbing? We compared 12 months of Repli-managed Google Search campaign data against LocaliQ's 2026 real estate benchmarks to find out. The results reveal where Repli campaigns outperform the industry and what the numbers tell us about the opportunities ahead.

We compared 1,961 active Repli-managed Google Search campaigns across 550+ client ad accounts with LocaliQ's 2026 Real Estate benchmarks. Same 12 months for both: April 2025 through March 2026.

Three white statistic cards on a dark background showing 45%, 41%, and 8% in purple and black text

the challenges.

Winning the search auction is only getting harder. Real estate advertisers faced the steepest increase in cost per click of any industry LocaliQ tracked, while click-through rates declined. For multifamily marketers, that means less room for wasted spend and more pressure to turn the right clicks into qualified leads.

The key pressures going into the year:


  • The Steepest CPC climb of any industry: Real estate cost per click rose 27.27% to $3.22, the largest increase of all 23 industries LocaliQ tracked.

  • Fewer clicks per impression: Industry click-through rate slipped 9.73%. Earning the click got harder.

  • Lead costs near the top: At $102.51, real estate had the third-highest cost per lead of any industry.
Bar chart on a black background showing YOY real estate benchmark clicks: CPC up 27.27%, CVR up 12.81%, CPL up 2.02%, CTR down 9.73%

the solutions.

Repli's search strategy is built around 3 core pillars.

Better results don't come from clicks alone. They come from matching campaign structure, ad messaging, and landing-page experiences to renter intent. The report breaks down three core strategies behind Repli's approach—and practical ways multifamily marketers can apply these principles to their own campaigns.

Explore the full benchmarks and optimization recommendations in the report.

01

Structure by intent

Every community gets two kinds of campaigns. Branded campaigns capture renters who already know the name. Nonbranded campaigns reach renters searching "pet-friendly apartments near me." Budget follows intent, not volume.

02

Win the click

Ads use every asset: sitelinks, callouts and structured snippets. Copy goes hyperlocal, naming the neighborhood, the landmark, the commute. Specials and must-haves lead the headline.

03

Make every click count

Negative keywords block searches that will never lease. Renters land on the floor plan or offer they clicked for, with one clear next step. Copy, offers and bidding stay under test, and the data picks the winner.

the results.

Repli beat the real estate benchmark on all four metrics.

Repli-managed campaigns outperformed the real estate benchmark across all four key search metrics: cost per lead, conversion rate, cost per click, and click-through rate.



The biggest difference? Cost per lead. Repli campaigns averaged $56.61 per lead, compared with the industry's $102.51 benchmark. And this wasn't limited to renters already familiar with a community. Nonbranded campaigns generated leads at $66.42—still 35% below the industry benchmark.

The takeaway: campaign performance isn't just about getting cheaper clicks. It's about attracting the right traffic and converting more of it into leads.

Cost per lead bar chart comparing benchmark and Repli, with Repli lower and a 45% lower badge
Conversion rate bar chart showing Reply at 5.23% vs RF benchmark at 3.7%, 41% higher.
Bar chart comparing cost per click: benchmark $3.27 in gray, Repli $2.96 in purple-pink, 8% lower.
Click-through rate bar chart showing Repli at 7.95%, 4% higher than RF benchmark at 7.61%

Branded vs. nonbranded.

Branded campaigns reach renters who already know the community's name. Nonbranded campaigns reach the ones who don't yet, and still beat the benchmark on cost per lead and conversion rate.

Blurred spreadsheet table with several rows of data and numeric columns on a white background

from our team.

“The Google algorithm got smarter. So did we. The benchmarks show where performance stands today. But with automation changing how search campaigns work, the next advantage comes from knowing what to automate, what to control, and what to measure beyond the click.”

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Siobhan Park

VP of Marketing & Training at Repli

Know where you stand.

Find where you can improve.

The 2026 Search Ad Benchmarks report gives you the data to evaluate your performance, identify opportunities, and make smarter decisions about your paid search strategy.



See how your campaigns stack up—and where your next competitive advantage could come from.

GET THE REPORT

Benchmarks: LocaliQ, Search Advertising Benchmarks by Industry: Competitive Data & Insights for 2026 (Real Estate; 13,474 Google and Microsoft Ads campaigns, Apr 2025 – Mar 2026). Repli data: Google Ads Search campaigns, Apr 1, 2025 – Mar 31, 2026, via MultiHub. Campaigns classified by name; geo, floor plan and other campaigns without the community name count as nonbranded.