|2020 Average Proposed Cell Tower Ground Lease Rate||2018 Average Cell Tower Ground Lease Rate for All Leases (new and existing)||2018 Average Cell Tower Ground Lease Rate for All Leases (new and existing)|
|METROPOLITAN AREA||2021 POPULATION (ESTIMATED)||AVERAGE CELL TOWER LEASE RATE (Month)||Average cell tower lease (annual)|
|New York||19.2 M||$ 1,900||$ 22,800|
|Los Angeles||13.2 M||$ 1,500||$ 18,000|
|Chicago||9.5 M||$ 1,300||$ 15,600|
|Dallas||7.6 M||$ 1,000||$ 12,000|
|Houston||7.1 M||$ 1,000||$ 12,000|
|Washington DC||6.3 M||$ 1,750||$ 21,000|
|Miami||6.2 M||$ 1,750||$ 18,000|
|Philadelphia||6.1 M||$ 1400||$ 16,800|
|Atlanta||6.0 M||$ 1,400||$ 16,800|
|Phoenix||4.9 M||$ 1,300||$ 15,600|
|San Francisco||4.7 M||$ 2,500||$ 30,000|
Even in these metropolitan areas, there are pockets of variation- meaning that leases in Oakland generally average less than San Francisco proper. Below is a heat map showing which states in the United States have the highest cell tower lease rates (orange) and the lowest (blue) on average.
The last few years have been interesting for lease holders with trends pushing lease values up and down.