Facebook and Instagram CPM rates in 2025 averaged $22.20 and $15.59 respectively, but vary significantly by placement and season.
Facebook CPM averaged $22.20 through 2025, while Instagram CPM hit $15.59 in August 2026 [1][2]. But those headline numbers hide what actually matters, the range is huge depending on where your ads show up and what you're trying to do.
$22.20
Facebook avg CPM
$15.59
Instagram avg CPM (Aug 2026)
If you're running Feed ads (the main placements), expect $7–$16 on Facebook and $9–$12 on Instagram [3][2]. Stories and Reels are cheaper, $5–$9 and $5–$7 respectively [3]. So if you're only looking at your total spend and wondering why it's higher than you thought, you might just be running in the wrong placements.
The bigger problem: CPM swings wildly by season. November 2025 hit $28.09 on Facebook, a 28.7% spike, then dropped to $17.12 by January [1]. That's not a sign something's wrong, it's just how the auction works. When everyone's holiday shopping, demand goes up and prices follow. Budget for that or you'll panic when November hits.
Your campaign objective matters too. Conversion campaigns run $10–$15 CPM because you're targeting people ready to buy. Brand awareness and engagement campaigns are $4–$8 because you're casting a wider net. Lead gen sits in the middle at $9–$13 [4].
A useful benchmark: under $5 is excellent, $5–$10 is good, $10–$15 is average, over $15 means you need to optimize [4]. If you're consistently above $15, check your audience targeting and ad quality first, Facebook charges more for underperforming creative.
Want a deeper dive on what drives these costs up and down? I covered that in the question about CPM fluctuations.