How much do Instagram ads actually cost right now? Here are the real CPCs, CPMs, and benchmarks from live campaigns.
Last updated: April 2026
Average CPC
$0.40 - $1.50
Cost per click across all industries
Average CPM
$6.00 - $13.00
Cost per 1,000 impressions
Average CTR
0.8% - 1.3%
Click-through rate for Feed ads
Stories CPM
$4.00 - $9.00
Stories are cheaper than Feed
Reels CPM
$3.50 - $8.00
Reels are the best value right now
Avg Engagement
1.0% - 3.5%
Higher than Facebook for most niches
Instagram has over 2 billion monthly active users. It is the most visual ad platform and one of the best for ecommerce, fashion, beauty, food, and lifestyle brands. Costs are slightly lower than Facebook for most industries because engagement rates are higher. Here is what you should expect to pay.
Feed image ads cost $0.50-$1.50 per click and are the most common format. Stories ads run 20-30% cheaper per impression than Feed. Reels ads are the cheapest format right now at $3.50-$8.00 CPM because inventory is still growing. Carousel ads have the highest engagement rate but cost similar to Feed. Explore page ads cost a bit more but reach people actively browsing for new content.
Fashion and beauty brands get the best rates, with CPCs of $0.30-$0.80. Fitness and health sit at $0.40-$1.00. Ecommerce averages $0.50-$1.20. Travel and hospitality come in at $0.60-$1.30. B2B and SaaS are the priciest on Instagram at $1.50-$3.00 because the audience is less native to the platform.
Instagram CPMs are about 10-20% lower than Facebook for most advertisers. The engagement rate is higher, which means more clicks per impression. However, Facebook has more placement variety and a larger older audience. Most advertisers run ads on both through Meta Ads Manager. The best approach is to let Advantage+ allocate budget between the two automatically.
Use Reels format. It is underpriced and getting the most organic reach. Use user-generated content style ads. They feel native and get higher engagement, which lowers your cost. Test vertical video. It takes up more screen space and stops the scroll better. Avoid stock photos. They look like ads and people scroll past them.
Use Reels ads. They cost 30-50% less per impression than Feed ads and get more engagement.
Film your ads vertically (9:16). Ads that feel like native content get cheaper distribution.
Use UGC-style creatives. They look like real posts and get 2-3x better engagement than polished studio content.
Test carousel ads for ecommerce. They let you show multiple products and have the highest average CTR on Instagram.
Run ads to warm audiences first (video viewers, profile visitors), then retarget them. This drops your CPA dramatically.
These are averages. Your competitors might be crushing it for half the cost.
Spy on their ads. See their creatives. Then make better ones in seconds.
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