A balanced distribution of IP addresses across nodes of a cluster is performed during distributed IP management, wherein IP addresses are dynamically procured and assigned on a first-come, first-serve basis. In one aspect, nodes that participate in distributed IP management can request for IP addresses only if they are determined to be serviceable. A subscription level of a node can be determined based on a maximum number of IP address that can be claimed/owned by the node. As an example, the maximum number of IP address can be evaluated based on a total number of serviceable nodes within the cluster. IP address redistribution can be facilitated to ensure that subscription levels of the nodes are at an optimal level.