Leasing Ad Spend ROI Calculator

Measure multifamily marketing campaign ROI across channels (ILS, Google, social, referral).

Ad spend

Attributable leases

Avg rent

Lease length mo

Retention multiplier

ROI %

83.15%

Total lease value

$673,200

Cost per lease

$533

How the math works

Lease value = leases × rent × months × retention multiplier.

15 × $2,200 × 12 × 1.7 = $673,200 value. ($673k − $8k) / $8k = 83× ROI.

How to Use

Enter ad spend.
Enter attributable leases.
Enter avg rent.
Enter avg lease length (months).
Enter retention multiplier.
Read lease value and ROI.

Frequently Asked Questions

Measuring ad attribution?

First-touch attribution: credit ad that first brought lead to property. Last-touch: ad that directly drove application. Multi-touch: credit multiple ads in journey. Most sophisticated: multi-touch with channel weighting. UTM parameter tracking on URLs + call tracking numbers + lead-source forms. Integrated platforms (Respage, Funnel, Knock, RENTCafé): automated attribution across Google Ads, ILS, social, direct.

Channel performance?

Google Ads (search intent): $300-1,200 CAC per lease. Facebook/Instagram: $150-600 CAC (lower intent, broader reach). ILS (Zillow, Apartments.com): $200-800 CAC. Direct website: $50-200 CAC (lowest). Referrals: $300-500 (bonus-driven). Broker: $800-2,000. Balance of direct (cheapest), paid search (intent), social (awareness), ILS (scale) = optimal channel mix.

Lease value?

12-month lease at $2,200: $26,400 revenue. Factor renewal probability 50-70%: $40,000-55,000 expected lifetime value at 1.5-2.0 renewal multiplier. Rent escalator 3-5% per renewal. High-retention buildings: 3-5 year avg tenancy = $80-130k LTV. LTV / CAC ratio 50-200× typical. Far above benchmark ratio of 3× in other industries — multifamily leasing highly profitable.

Budget optimization?

Monthly ad spend target: 1.5-3% of annual rent revenue. 200-unit building at $2,200 rent = $5.3M revenue × 2% = $106k/year ad budget. Tight markets (strong demand): 1-1.5% (less needed). Soft markets: 2.5-4% (heavier lifting). Lease-up: 4-7% initial, tapering as stabilization. Split: Google 30-40%, ILS 30-40%, social 10-20%, other 10-20%. Constant A/B testing.