diff --git a/pkg/asset/installconfig/openstack/openstack.go b/pkg/asset/installconfig/openstack/openstack.go
index 621cdce3c33..ee9d3f9000f 100644
--- a/pkg/asset/installconfig/openstack/openstack.go
+++ b/pkg/asset/installconfig/openstack/openstack.go
@@ -98,6 +98,33 @@ func Platform() (*openstack.Platform, error) {
 		return nil, err
 	}
 
+	floatingIPNames, err := validValuesFetcher.GetFloatingIPNames(cloud, extNet)
+	if err != nil {
+		return nil, err
+	}
+	sort.Strings(floatingIPNames)
+	var lbFloatingIP string
+	err = survey.Ask([]*survey.Question{
+		{
+			Prompt: &survey.Select{
+				Message: "APIFloatingIPAddress",
+				Help:    "The Floating IP address used for external access to the OpenShift API.",
+				Options: floatingIPNames,
+			},
+			Validate: survey.ComposeValidators(survey.Required, func(ans interface{}) error {
+				value := ans.(string)
+				i := sort.SearchStrings(floatingIPNames, value)
+				if i == len(floatingIPNames) || floatingIPNames[i] != value {
+					return errors.Errorf("invalid floating IP %q, should be one of %+v", value, strings.Join(floatingIPNames, ", "))
+				}
+				return nil
+			}),
+		},
+	}, &lbFloatingIP)
+	if err != nil {
+		return nil, err
+	}
+
 	flavorNames, err := validValuesFetcher.GetFlavorNames(cloud)
 	if err != nil {
 		return nil, err
@@ -156,6 +183,7 @@ func Platform() (*openstack.Platform, error) {
 		Cloud:           cloud,
 		ExternalNetwork: extNet,
 		FlavorName:      flavor,
+		LbFloatingIP:    lbFloatingIP,
 		TrunkSupport:    trunkSupport,
 		OctaviaSupport:  octaviaSupport,
 	}, nil
diff --git a/pkg/types/openstack/validation/mock/validvaluesfetcher_generated.go b/pkg/types/openstack/validation/mock/validvaluesfetcher_generated.go
index 234e9fd61b5..e1e2780c3cb 100644
--- a/pkg/types/openstack/validation/mock/validvaluesfetcher_generated.go
+++ b/pkg/types/openstack/validation/mock/validvaluesfetcher_generated.go
@@ -121,3 +121,18 @@ func (mr *MockValidValuesFetcherMockRecorder) GetServiceCatalog(cloud interface{
 	mr.mock.ctrl.T.Helper()
 	return mr.mock.ctrl.RecordCallWithMethodType(mr.mock, "GetServiceCatalog", reflect.TypeOf((*MockValidValuesFetcher)(nil).GetServiceCatalog), cloud)
 }
+
+// GetFloatingIPNames mocks base method
+func (m *MockValidValuesFetcher) GetFloatingIPNames(cloud, floatingNetwork string) ([]string, error) {
+	m.ctrl.T.Helper()
+	ret := m.ctrl.Call(m, "GetFloatingIPNames", cloud, floatingNetwork)
+	ret0, _ := ret[0].([]string)
+	ret1, _ := ret[1].(error)
+	return ret0, ret1
+}
+
+// GetFloatingIPNames indicates an expected call of GetFloatingIPNames
+func (mr *MockValidValuesFetcherMockRecorder) GetFloatingIPNames(cloud, floatingNetwork interface{}) *gomock.Call {
+	mr.mock.ctrl.T.Helper()
+	return mr.mock.ctrl.RecordCallWithMethodType(mr.mock, "GetFloatingIPNames", reflect.TypeOf((*MockValidValuesFetcher)(nil).GetFloatingIPNames), cloud, floatingNetwork)
+}
diff --git a/pkg/types/openstack/validation/realvalidvaluesfetcher.go b/pkg/types/openstack/validation/realvalidvaluesfetcher.go
index e73a1ab9fae..ec85250cfaa 100644
--- a/pkg/types/openstack/validation/realvalidvaluesfetcher.go
+++ b/pkg/types/openstack/validation/realvalidvaluesfetcher.go
@@ -1,11 +1,14 @@
 package validation
 
 import (
+	"github.com/pkg/errors"
+
 	"github.com/gophercloud/gophercloud/openstack/common/extensions"
 	"github.com/gophercloud/gophercloud/openstack/compute/v2/flavors"
 	"github.com/gophercloud/gophercloud/openstack/identity/v3/regions"
 	"github.com/gophercloud/gophercloud/openstack/identity/v3/tokens"
 	netext "github.com/gophercloud/gophercloud/openstack/networking/v2/extensions"
+	"github.com/gophercloud/gophercloud/openstack/networking/v2/extensions/layer3/floatingips"
 	"github.com/gophercloud/gophercloud/openstack/networking/v2/networks"
 	"github.com/gophercloud/utils/openstack/clientconfig"
 )
@@ -194,3 +197,47 @@ func (f realValidValuesFetcher) GetServiceCatalog(cloud string) ([]string, error
 
 	return serviceCatalogNames, nil
 }
+
+func (f realValidValuesFetcher) GetFloatingIPNames(cloud string, floatingNetworkName string) ([]string, error) {
+	opts := &clientconfig.ClientOpts{
+		Cloud: cloud,
+	}
+
+	conn, err := clientconfig.NewServiceClient("network", opts)
+	if err != nil {
+		return nil, err
+	}
+
+	// floatingips.ListOpts requires an ID so we must get it from the name
+	floatingNetworkID, err := networks.IDFromName(conn, floatingNetworkName)
+	if err != nil {
+		return nil, err
+	}
+
+	// Only show IPs that belong to the network and are not in use
+	listOpts := floatingips.ListOpts{
+		FloatingNetworkID: floatingNetworkID,
+		Status:            "DOWN",
+	}
+
+	allPages, err := floatingips.List(conn, listOpts).AllPages()
+	if err != nil {
+		return nil, err
+	}
+
+	allFloatingIPs, err := floatingips.ExtractFloatingIPs(allPages)
+	if err != nil {
+		return nil, err
+	}
+
+	if len(allFloatingIPs) == 0 {
+		return nil, errors.New("there are no unassigned floating IP addresses available")
+	}
+
+	floatingIPNames := make([]string, len(allFloatingIPs))
+	for i, floatingIP := range allFloatingIPs {
+		floatingIPNames[i] = floatingIP.FloatingIP
+	}
+
+	return floatingIPNames, nil
+}
diff --git a/pkg/types/openstack/validation/validvaluesfetcher.go b/pkg/types/openstack/validation/validvaluesfetcher.go
index 59983505d43..5ed26d16710 100644
--- a/pkg/types/openstack/validation/validvaluesfetcher.go
+++ b/pkg/types/openstack/validation/validvaluesfetcher.go
@@ -16,4 +16,6 @@ type ValidValuesFetcher interface {
 	GetNetworkExtensionsAliases(cloud string) ([]string, error)
 	// GetServiceCatalog gets the catalog service names
 	GetServiceCatalog(cloud string) ([]string, error)
+	// GetFloatingIPNames gets the floating IPs
+	GetFloatingIPNames(cloud string, floatingNetwork string) ([]string, error)
 }