• AppFolio average price/book ratio for 2024 was 23.64, a 3.59% decline from 2023.
• AppFolio average price/book ratio for 2023 was 22.82, a 71.58% increase from 2022.
• AppFolio average price/book ratio for 2022 was 13.3, a 14.96% increase from 2021.

Price/book ratio can be defined as