Income StatementBalance SheetCash FlowSegments
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AvalonBay Communities Business Segments

Business, geographic, and product segment breakdowns

AvalonBay Communities generates $3.1B in annual revenue across 3 key segments: Development / Redevelopment ($59.5M), Other Stabilized ($176.2M), and Same Store ($2.7B). Based on the Q1 2026 filing.

Development / Redevelopment (TTM)$59.5MOther Stabilized (TTM)$176.2MSame Store (TTM)$2.7B
Latest FilingQ1 2026
Report Date2026-05-07
Market Cap$25.8B
P/E Ratio22.49
ROE9.79%

Products & Services

Management, development and other fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-lease related revenue$5.4M$3.7M$4.3M$4.1M$3.4M$4.0M
Management, development and other fees and other ancillary items$1.7M$1.7M$1.6M$1.9M$1.8M$1.8M

Concentration risk (as a percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non-Apartment Components Of Mixed-Use Communities And Other Nonresidential Operations—2.0%1.4%1.5%—1.6%

Business Segments

Gross Real Estate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$23.4B$24.5B$24.1B$23.9B$23.9B$25.2B
Development / Redevelopment$2.5B$1.7B$2.1B$2.3B$2.7B$2.6B
Other Stabilized$1.7B$1.8B$2.2B$2.6B$2.6B$1.7B

Management, development and other fees

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store—$701.0M$695.2M$691.9M$651.4M$711.4M
Other Stabilized$34.3M$32.3M$42.5M$47.5M$52.3M$33.9M
Development/ Redevelopment$24.0M$6.8M$9.3M$13.7M$17.8M$18.8M

Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$200.6M$215.8M$213.1M$225.4M$202.3M$225.5M
Other Stabilized$21.7M$10.2M$15.3M$17.4M$18.1M$12.8M
Development / Redevelopment$19.7M$3.8M$5.0M$6.4M$7.9M$8.2M

Rental and other income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store—$698.8M$692.6M$689.7M$649.7M$709.1M
Other Stabilized$32.8M$30.9M$40.9M$45.7M$50.6M$32.3M
Development/ Redevelopment$23.8M$6.8M$9.2M$13.6M$17.7M$18.6M

Total NOI

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$446.7M$485.4M$482.1M$466.5M$448.9M$485.9M
Other Stabilized$22.9M$22.1M$27.3M$30.0M$34.2M$21.0M
Development / Redevelopment$15.4M$3.0M$4.3M$7.2M$9.9M$10.6M

Total Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$647.3M$701.3M$695.2M$691.9M$651.1M$711.4M
Other Stabilized$65.0M$32.3M$42.5M$47.5M$52.3M$33.9M
Development / Redevelopment$61.1M$6.8M$9.3M$13.7M$17.8M$18.8M

Cost, Direct Labor

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$36.9M$40.3M$39.7M$40.0M$36.7M$40.3M

Cost of Property Repairs and Maintenance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$33.8M$38.3M$38.8M$45.0M$37.8M$39.2M

Marketing Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$3.5M$3.8M$4.8M$4.7M$3.6M$3.6M

Property taxes

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$71.7M$76.8M$78.1M$80.2M$71.2M$82.0M

Segment Reporting, Insurance

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store-$69.4M$10.2M$10.2M$10.5M$11.2M$10.4M

Segment Reporting, Office Operations

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$16.3M$16.1M$16.0M$15.3M$14.8M$16.2M

Segment Reporting, Utilities

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same Store$28.6M$30.3M$25.4M$29.6M$26.9M$33.6M