2020 Cell Tower Lease Rates

By Nick G. Foster

January 6, 2020

In 2020 cell tower lease rates should adjust upwards with the deployment of 5G technology. In addition, the increasingly competitive cell tower development market should benefit the land owner in the long run.

Rates will often depend on the following:

  • Location
  • Rural vs. in-fill development
  • Wireless tenancy (AT&T, Verizon, T-Mobile, Sprint)
  • Is the cell tower owner a tower company or a wireless carrier.
  • If the site is a new build or a relocation of an existing site

Here are a few frequently asked questions we receive when it comes to cell tower lease rates.

What Are Cell Tower Lease Rates In My Area?

At Airwave Advisors we maintain one of the nation’s largest database of cell tower lease rents. Rents will differ from market to market; however, some rates may surprise you!

We have analyzed a cell tower in the rural mid-west paying over $15,000 per month along with a single-tenant rooftop tenant paying $13,000 per month in San Diego, California. There are also numerous cases where the landlord has been taken advantage of and is receiving only $100 per month for his cell tower.

Some property owners make great deals, while others do the best with the knowledge they have, however, they unfortunately often leave a significant amount of money on the table.

Are Cell Tower Lease Rates Increasing In 2020?

Yes and no. It depends on who you are negotiating with and the context of the negotiation.

I am working on a new Vertical Bridge T-Mobile build-to-suit project and Vertical Bridge’s site acquisition agent is representing that the max annual rent escalator Vertical Bridge can agree to is 1.5% annual.

This of course is a terrible rent escalator.

Historically inflation in the United States has trended around 3% annual. Why would anyone agree to lock in an annual rent escalator for decades at half of the historical inflation rate?

On the other hand, we are typically seeing rents go up in almost all areas across the United States.

Will cell towers become obsolete in 2020?

Not a chance. Wireless communications are currently dependent on terrestrial based cell towers, also known as macro sites. It is highly likely that one day in the future low-orbit satellites will antiquate ground-based cell towers. Companies such as Amazon have announced their intentions to provide internet service to the globe via low orbit satellites.

How much revenue does a cell tower generate?

How much revenue a cell tower generates depends on the tenancy of the tower. A multi-tenant tower will generate significantly more than a one-tenant tower. Major wireless companies such as AT&T, Verizon, Sprint, and T-Mobile will typically pay the most to lease space on a cell tower. However, don’t let tower companies fool you. We have seen leases where federal government agencies were paying $10,000 per month to lease space on a cell tower. Many times, more than what the wireless companies were willing to pay.

Can I put a cell tower on my property?

We receive this question multiple times a day. The way the industry operates is that they contact you. You typically do not contact the wireless companies to have them place a cell tower on your land. Typically, there is no shortage of willing property owners willing to lease unused land for a cell tower, so the cell tower developers don’t need help finding property.

When I was working on cell tower development for one of the top wireless providers I would get bombarded with requests for a tower. As you can imagine, professionals in this space typically ignore these requests. Why? Because they already know where they want to go and there is an ample supply of willing landlords to lease them space. If you would still like to pursue leasing your land for a cell tower, check out our article “How Do I Get A Cell Tower?

Are cell towers dangerous to live by?

A few months ago we wrote an article titled “Are 5G Cell Towers Dangerous?“. The jury is still out on how 5G radiation will affect the human body over the long run.

Are cell towers dangerous to live by? I wouldn’t say they are dangerous, so long as you are on the ground and the antennas are high up in the air. This is the case in many cell tower installations across the country.

Do you have cell tower lease rates comparable data?

Yes. We have thousands of cell tower lease rents across the country. With over a decade of industry experience, we are highly qualified to assist you in understanding the true value of your cell tower lease.

It is important to remember however to treat lease rate comparable data with a grain of salt. Sometimes the comparable down the street may be a sweetheart deal, or the property owner may have made multiple mistakes when putting together his deal.

What is the latest with the Sprint & T-Mobile merger?

As of right now the merger is in court and final arguments will be delivered next week. Then the judge should deliver his decision in the upcoming weeks on if he will block the merger or not. Depending your preferred news outlet, some say the judge has a 60% chance of blocking the merger, others say less.

Engage a cell tower lease expert

Airwave Advisors are the nation’s leading cell tower lease experts rated A+ by the BBB. To make sure you are not making any mistakes and are capturing as much as you can capture in your cell tower lease, contact Airwave Advisors today. Give us a call at (888) 443-5101 or e-mail us at info@airwaveadvisors.com.

Related Articles

How Cell Tower Companies Trick Landlords With Estoppel Requests

How COVID-19 Is Impacting The Wireless Industry


What Is A Wireless Site Acquisition Agent?


  1. Norm Fisher on June 3, 2020 at 1:43 pm

    I am on the Board of Directors of a homeowners Association with a cell tower lease. We have been approached by a company to buy out our lease. Is this something you could advise us on and what would you charge for this service

    • Nick G. Foster on June 4, 2020 at 2:11 pm

      Hi Norm,

      It was good speaking with you regarding the unsolicited offer your HOA board received to purchase your cell tower lease. Feel free to call back anytime if the board needs help further.

      All the best,
      Nick G. Foster

  2. Sally on April 27, 2020 at 1:14 pm

    How are you compensated for consulting on a lease negotiation?
    Thank you

    • Nick G. Foster on April 28, 2020 at 7:24 am

      Hi Sally,

      I provide a multitude of different services so I would have to understand what service you are looking for to provide you the correct fee schedule. Please feel free to give me a call at (888) 443-5101 to discuss further.

      All the best,

      Nick G. Foster

  3. steve lambert on March 8, 2020 at 8:17 pm

    I have a very unique property that I would like to consider putting a cell tower on. It is very high atop a mountain over a hundred feet above street level. It has a very serviceable road with no neighbors on top of the hill with plenty of square footage to accomodate a large scale cell tower. Have never done this before but am confident that given the location (southside of Louisville KY) and ease of access but still remote would be a prime location for a tower. Can you help get me started?

  4. anna oliver on February 26, 2020 at 12:59 am

    We are suppose to be getting a Verizon cell tower put on our property. We have already signed the contract with them . I was told that we would recieve the nonrefundable 500.00 they give give you before they start anything. This was suppose to happen on the 13th of Feb. 2020 as of today we have saw nothing . Is this a practice of Verizon too tell you something and not do it? Signed Anna

    • Nick G. Foster on February 26, 2020 at 7:36 am

      Unfortunately cannot trust anything Verizon, or any representative of Verizon says. All that matters is the exact language in the contract. If they were to pay you a certain sum of money by February 13, 2020, and they failed to do so, you can likely send them a default notice and they will have to pay, or risk putting themselves in an uncured default situation.

      All the best,

      Nick G. Foster

    • Garry on February 29, 2020 at 8:07 am

      We have a contract with Verizon so read the contract # 2 Effective Date is when both parties sign.
      # 4 c signing bonus shall be paid within 90 days of the Effective Date. There is a lot of things to be done before they even get started such as Local Permits from your City or Township, Environment Permits, Soil Bore they went down 40 feet on our property and if there is a Airport near by there may be a Height Restrictions and a bunch of Engineering. It may take a year or two ( depending how bad they need a tower in your area) but when they stake off the lease corners, slab for building, meter rack, slab for Generator and the Electric and Fiber Optic set up a Easement you will be getting close to construction.

  5. Bijjam Venkata subba reddy tow on February 17, 2020 at 6:46 pm

    Tower laguwana hi

    • Nick G. Foster on February 18, 2020 at 8:12 am

      Hi Bijjam,

      Thank you for the message. We are currently only focusing on cell tower leases in North America at this time.

      All the best,

      Nick G. Foster

  6. Carter on January 12, 2020 at 3:04 pm

    Currently own a 15 story high rise apartment complex that includes a
    long term roof lease with Verizon Towers. I am interested in selling the
    lease. Can you help?

    • Nick G. Foster on January 13, 2020 at 8:22 am

      Hi Carter,

      Absolutely! We have helped over 100 property owners sell their cell tower leases over the years. We will discuss with you here shortly. Thanks for reaching out.

      Nick G. Foster

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Nick Foster Airwave Advisors

About Nick G. Foster

Since founding Airwave Advisors® in 2014, Mr. Foster has added value to over 400 clients ranging from the State of Nevada, City of Beverly Hills, to Habitat For Humanity. Mr. Foster focuses on cell tower lease renewals, buyouts, new lease negotiation, and cell site lease management. Prior to starting Airwave Advisors® Mr. Foster founded and led the Cell Site Services Group within nationwide commercial real estate services leader Cassidy Turley (now known as Cushman & Wakefield).