Summary

AvalonBay Inc. is a real estate investment trust that develops, owns, and operates apartment communities. The company focuses on upper-tier apartments. The company was founded in 1978 and reincorporated in 1995, when it began to focus on apartment communities.

At the end of 2024, AVB had about 300 communities containing almost 91,000 apartments, concentrated in high-wage regions. The company's portfolio is varied, with luxury high-rise urban buildings and smaller communities in suburban areas. About 41% of their communities are garden apartments. The company has a concentration in New England, New York/New Jersey, and California, but has assets in 20 markets and 12 states. At the end of 2024, the average same-store rent was about $3,040.

Total revenues in 2024 peaked $2.9 billion. At the end of 2024, residential revenue accounted for about 98% of revenue with commercial and development revenue accounting for the remainder. Last year, about 4