Portfolio Overview

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Building new communities

Portfolio Overview

AvalonBay operates in 18 leading metropolitan areas characterized by a limited supply of new apartment homes and a high cost of single-family housing, leading to more favorable demand/supply fundamentals over the long-term. Our strategy is to deeply penetrate these core markets through a broad range of products and services and an intense focus on our customer. We continually assess our portfolio composition and make capital allocation decisions with a goal of achieving desired market concentrations and the highest risk-adjusted returns. We operate in the following markets and our current concentration in each market is as follows:

Portfolio Overview - As of  March 31, 2017

Current
Communities
Development
Communities
Redevelopment
Communities
Total Communities
Comms Homes Comms Homes Comms Homes Comms Homes
Boston, MA 35 8,764 4 1,453 2 470 41 10,687
Fairfield-New Haven, CT 13 2,549 - - - - 13 2,549
New England 48 11,313 4 1,453 2 470 54 13,236
New York City, NY 12 4,359 2 352 1 550 15 5,261
New York Suburban, NY 7 1,529 1 152 - - 8 1,681
Northern New Jersey 10 2,338 3 833 - - 13 3,171
Central New Jersey 10 3,170 1 280 - - 11 3,450
Long Island, NY 9 2,534 2 356 - - 11 2,890
Metro NY/ NJ 48 13,930 9 1,973 1 550 58 16,453
Washington, DC 10 2,487 1 438 - - 11 2,925
Maryland Suburban, MD 9 3,584 2 651 - - 11 4,235
Northern Virginia, VA 19 7,121 - - 1 842 20 7,963
Mid-Atlantic/ Midwest 38 13,192 3 1,089 1 842 42 15,123
San Jose, CA 11 4,389 - - 2 516 13 4,905
San Francisco, CA 16 3,662 1 326 - - 17 3,988
Oakland-East Bay, CA 13 3,843 1 285 - - 14 4,128
Northern California 40 11,894 2 611 2 516 44 13,021
Los Angeles Other, CA 18 3,585 3 1,320 2 1,247 23 6,152
San Fernando Valley, CA 17 6,009 - - 1 450 18 6,459
Orange County, CA 13 3,621 - - - - 13 3,621
San Diego, CA 9 2,227 - - - - 9 2,227
Southern California 57 15,442 3 1,320 3 1,697 63 18,459
Seattle, WA 17 4,092 3 1,135 - - 20 5,227
Pacific Northwest 17 4,092 3 1,135 - - 20 5,227
Non-Core 3 1,014 - - - - 3 1,014
Non-Core 3 1,014 - - - - 3 1,014
Total 251 70,877 24 7,581 9 4,075 284 82,533