Apartment PPC data: Why, where & how it converts prospects into renters

Today we’re going to look at some recent apartment PPC data. We studied 1,533 properties across the U.S. to see how PPC leads convert once they get to your property website.

We looked at the overall lead-to-lease conversion rate for PPC leads, as well as regional conversion rates. Start by reviewing an infographic with the study data, then learn which features are most likely to convert PPC prospects so you can make sure your site is positioned to maximize your ad impact.

Whether you’re considering pay-per-click advertising or already using it, this article is for you!

Apartment PPC infographic

Why use PPC for apartment marketing?

As an apartment marketer, PPC is your secret weapon, and here’s why: People who click on PPC ads tend to be more rent-ready leads. They’ve actively searched for apartments and found your ad, making them better-targeted prospects.

In fact, PPC data from 1,533 apartment communities studied from Jan.-June 2023 shows that leads from pay-per-clicks ads managed by REACH convert at a higher rate than leads from traditional marketing sources (like ILSs). Once they get to your website, they have a 15.44% lead-to-lease conversion rate, compared to 2.37% for traditional marketing.

That’s the power of PPC. It brings in targeted leads that are primed to become residents.

Apartment PPC data by region

Let’s look at the data by region:  

• Mountain: 18% PPC lead-to-lease conversion rate
• Southeast: 15.99% PPC lead-to-lease conversion rate
• Central: 15.46% PPC lead-to-lease conversion rate
• Northeast: 12.71% PPC lead-to-lease conversion rate
• West: 12.38% PPC lead-to-lease conversion rate

It makes sense that more competitive regions show a slightly lower conversion rate, and it’s worth noting that all regions substantially outperform traditional advertising.

4 benefits of PPC ads for apartments

1. Targeted advertising: With PPC, you can create flexible ads tailored to your specific needs and availability. If you know you’re going to have a bunch of one-bedroom units vacant in three months, you can place ads specific to those floor plans.
2. Increased traffic: Because ads go directly to your website, you’re able to see the immediate impact of PPC ads on your traffic. You’ll know right away if your ads are getting clicked or not, so you can make adjustments as needed sooner rather than later.
3. Time saved: By driving high-converting leads, your staff spends less time chasing dead-end prospects. It can be a real time suck chasing down leads who are “just looking.” PPC leads are often farther along in their leasing journey and more likely to engage with your leasing team.
4. Trackable results: Connect new leads and leases directly to your PPC efforts for precise ROI tracking. Say goodbye to hunches and guesswork and hello to proven results!

Website features that convert PPC leads

When a potential renter clicks your ad, they go to your website. But getting them there is just half the battle. The next thing you need to do is get them to convert.

In the same study, we looked at which website features were the conversion point for PPC leads.

Once a PPC lead lands on your website, these are the top 5 features that turn lookers into leasers:

1. Guided tour
2. Front desk widget
3. RentCafe Chat IQ
4. Self-guided tour
5. Live video tour

These are some of the same elements that stood out in our past study of top apartment website features for conversions. Renters who are close to moving in want tools that help them make the decision, and tours are at the top of their wish lists!

Why consider REACH PPC

In the competitive landscape of PPC advertising, expertise matters. Creating top-performing campaigns requires consistent tracking and adjustment so that your ads stand out in your market.

If you’re doing PPC and not getting the results you want — or if you’re considering starting with pay-per-click ads but aren’t sure you have the time — it makes sense to find a partner who can support you.

At REACH, our PPC experts have your success as their singular focus. Unlike most on-site team members, they never have to pivot to help with SEO or website edits or some other marketing surprise. Additionally, they have a breadth of industry-specific knowledge that they can apply to your community. Our PPC experts stay on top of changes in ad platforms and user behaviors, so you don’t have to.

Manager Kyle Jones sums it up well:

“Our PPC experts are dedicated to optimizing campaigns and tracking results for our clients, so you can rest easy knowing you’re getting the best performance without having to manually tweak your campaigns day in and day out.”

If you want to learn a little more about REACH PPC, contact us or check out these other articles:

• PPC advertising for apartments: What it is, how it works & how to measure results

• Multifamily PPC: Your guide to keywords, new campaign types & what’s next