State of US Broadband Coverage and Investment

This report is a comprehensive analysis of the current state of consumer broadband in the United States, focusing on coverage, construction, and competition. It addresses three key questions: the current state of broadband availability, who is building broadband, and where broadband investment is directed. The report highlights that residential broadband availability expanded in the second half of 2025, with significant growth in fiber and fixed wireless access (FWA) deployments. It notes that more than 50% of U.S. residential locations now have access to two or more fiber or cable providers. The report also identifies AT&T as the leading fiber builder and discusses the competitive landscape, indicating that the number of residential locations lacking broadband access continues to decline. Additionally, it outlines investment opportunities and trends in broadband construction, emphasizing the ongoing changes in the market and the importance of understanding these dynamics for stakeholders in the sector.