Attachment 5 AvalonBay Communities, Inc. Quarterly Revenue and Occupancy Changes - Established Communities (1) December 31, 2012
Apartment Homes
Q4 12 New England Boston, MA Fairfield-New Haven, CT New England Average
BOS FFD
4,719 2,347 7,066
Metro NY/NJ New York, NY New Jersey Long Island, NY Metro NY/NJ Average
NY NJ LI
4,027 2,246 1,511 7,784
Mid-Atlantic Washington Metro Mid-Atlantic Average
DC
Pacific Northwest Seattle, WA Pacific Northwest Average
Economic Occupancy
Average Rental Rates (2)
Q4 11
% Change
96.2% 96.3% 96.2%
96.1% 96.5% 96.2%
0.1% (0.2%) 0.0%
2,982 2,048 2,336 2,587
2,825 2,001 2,273 2,481
5.6% 2.3% 2.8% 4.3%
96.3% 97.1% 96.5% 96.5%
96.0% 96.3% 95.9% 96.0%
0.3% 0.8% 0.6% 0.5%
4,748 4,748
1,905 1,905
1,868 1,868
2.0% 2.0%
95.6% 95.6%
95.8% 95.8%
SEA
1,908 1,908
1,556 1,556
1,411 1,411
10.3% 10.3%
95.6% 95.6%
Northern California San Jose, CA Oakland-East Bay, CA San Francisco, CA Northern California Average
SJ OAK SF
2,442 1,699 1,079 5,220
2,261 1,792 2,835 2,227
2,074 1,653 2,562 2,036
9.0% 8.4% 10.7% 9.4%
Southern California Los Angeles, CA Orange County, CA San Diego, CA Southern California Average
LA OC SD
2,974 1,000 925 4,899
1,819 1,771 1,651 1,777
1,754 1,672 1,609 1,709 2,032
$
2,127
$
Q4 12
3.9% 1.6% 3.1%
31,625
2,100 2,080 2,093
% Change
2,021 2,047 2,030
Average/Total Established
$
Q4 11
Rental Revenue ($000's) (3)
$
Q4 12
4.0% 1.4% 3.1%
34,707 13,392 10,219 58,318
32,770 12,984 9,885 55,639
5.9% 3.1% 3.4% 4.8%
(0.2%) (0.2%)
25,956 25,956
25,499 25,499
1.8% 1.8%
94.8% 94.8%
0.8% 0.8%
8,512 8,512
7,663 7,663
11.1% 11.1%
95.3% 96.8% 96.7% 96.0%
95.6% 96.1% 96.1% 95.9%
(0.3%) 0.7% 0.6% 0.1%
15,782 8,839 8,874 33,495
14,523 8,103 7,976 30,602
8.7% 9.1% 11.3% 9.5%
3.7% 5.9% 2.6% 4.0%
97.4% 95.3% 96.5% 96.8%
96.1% 95.9% 95.6% 96.0%
1.3% (0.6%) 0.9% 0.8%
15,812 5,063 4,418 25,293
15,066 4,810 4,267 24,143
5.0% 5.3% 3.5% 4.8%
4.7%
96.3%
96.0%
0.3%
184,947
5.0%
$
28,582 14,110 42,692
194,266
$
% Change
27,491 13,910 41,401
(1) Established Communities are communities with stabilized occupancy and operating expenses as of January 1, 2011 such that a comparison of 2011 to 2012 is meaningful. (2) Reflects the effect of concessions amortized over the average lease term. (3) With concessions reflected on a cash basis, rental revenue from Established Communities increased 4.8% between years.
$
Q4 11
$
Equity Residential Fourth Quarter 2012 vs. Fourth Quarter 2011 Same Store Results/Statistics by Market Increase (Decrease) from Prior Year's Quarter
Apartment Units
Markets 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16
7,423 9,381 8,881
New York Metro Area DC Northern Virginia Los Angeles South Florida Boston San Francisco Bay Area Seattle/Tacoma Denver San Diego Phoenix Orlando Suburban Maryland Orange County, CA Inland Empire, CA Atlanta All Other Markets Total
Q4 2012 % of Actual NOI 12.7% $ 12.0%
Q4 2012 Average Rental Rate (1)
12,253 5,470 6,194 8,710 7,976 4,284 7,400 6,413 4,222 3,490 3,081 3,616 4,728
9.7% 9.6% 8.2% 7.6% 7.3% 6.0% 4.3% 4.0% 3.8% 3.8% 3.5% 2.7% 2.2% 2.6%
3,325 2,134 1,857 1,464 2,579 2,055 1,502 1,226 1,754 952 1,085 1,521 1,662 1,487 1,159 1,108
103,522
100.0% $
1,707
Q4 2012 Weighted Average Occupancy %
Revenues
96.3% 95.5% 95.9% 95.2% 95.6% 95.4% 94.5% 95.5% 94.7% 95.3% 95.4% 95.2% 95.9% 95.0% 95.9% 95.4%
5.4% 4.4% 4.5% 5.4% 5.2% 10.3%
95.4%
Expenses
Average Rental Rate (1)
NOI
Occupancy
6.2% 8.4% 2.1% 3.3% 5.6% 4.2% 5.1% 4.4% 6.9% 3.5%
3.5% 2.8% (3.2%) 1.3% 4.1% 0.3% (0.9%) (3.0%) 0.2% (4.0%) 1.3% (3.4%) 2.4% (4.9%) 1.9% (2.3%)
6.7% 5.1% 8.3% 7.9% 5.8% 15.2% 10.2% 13.6% 3.0% 7.5% 8.1% 7.8% 6.3% 9.1% 10.2% 7.7%
5.3% 3.9% 4.2% 4.4% 5.5% 9.8% 5.7% 8.0% 1.7% 3.0% 4.8% 3.6% 4.8% 3.8% 6.9% 2.7%
0.1% 0.5% 0.2% 0.8% (0.3%) 0.4% 0.5% 0.4% 0.3% 0.4% 0.8% 0.6% 0.1% 0.5% (0.1%) 0.7%
5.4%
0.5%
8.1%
5.0%
0.4%
(1) Average rental rate is defined as total rental revenues divided by the weighted average occupied apartment units for the period.
4th Quarter 2012 Earnings Release
13
Supplemental Schedule 6(a) Conventional Same Store Operating Results Fourth Quarter 2012 Compared to Fourth Quarter 2011 (in thousands, except site, unit and per unit data) (unaudited)
Revenue Properties
Units
Effective Units
12 4 6 22 2 1 5 8
3,552 1,213 2,144 6,909 413 224 774 1,411
2,901 1,213 2,144 6,257 413 224 774 1,411
Seattle Pacific Total
1 31
104 8,424
104 7,772
456 41,671
427 39,662
6.8% 5.1%
Suburban New York - New Jersey Washington - NoVa - MD Boston Philadelphia Northeast Total
2 14 9 6 31
1,162 6,547 3,068 2,929 13,706
1,162 6,464 3,068 2,850 13,544
4,808 27,293 11,661 12,017 55,779
4,566 26,312 11,113 11,592 53,583
5 5 4 14
2,471 1,481 1,643 5,595
2,460 1,481 1,643 5,584
13,800 3,689 4,353 21,842
Houston Denver Phoenix Atlanta Sunbelt Total
5 8 5 5 37
2,237 2,177 1,318 1,295 12,622
2,168 2,104 1,018 1,125 11,999
Chicago
11
3,393
Total Target Markets
110
Other Baltimore Nashville Norfolk - Richmond Other Markets
Target Markets Los Angeles Orange County San Diego Southern CA Total East Bay San Jose San Francisco Northern CA Total
4Q 2012
4Q 2011
Expenses
4.7% 3.4% 2.4% 3.9% 10.2% 9.3% 11.3% 10.7%
$
5,531 $ 1,777 2,439 9,747 620 414 1,471 2,505
4Q 2011
Growth
4Q 2012
4Q 2011
$ 13,241 $ 12,580 4,333 4,069 6,308 6,093 23,882 22,742 1,245 1,047 797 924 3,039 2,634 5,081 4,605
Operating Margin
Average Daily Occupancy During Period
Growth
4Q 2012
4Q 2012
4Q 2011
5.3% 6.5% 3.5% 5.0% 18.9% (13.7)% 15.4% 10.3%
70.5% 70.9% 72.1% 71.0% 66.8% 65.8% 67.4% 67.0%
95.9% 95.4% 95.5% 95.7% 97.0% 96.1% 96.0% 96.3%
95.8% 96.9% 94.7% 95.7% 97.4% 95.7% 97.2% 97.0%
5,357 1,838 2,445 9,640 646 184 1,418 2,248
3.2% (3.3)% (0.2)% 1.1% (4.0)% 125.0% 3.7% 11.4%
181 12,433
181 12,069
—% 3.0%
275 29,238
246 27,593
11.8% 6.0%
60.3% 70.2%
98.6% 95.8%
5.3% 3.7% 4.9% 3.7% 4.1%
1,635 8,302 4,112 3,986 18,035
1,569 7,736 4,101 4,133 17,539
4.2% 7.3% 0.3% (3.6)% 2.8%
3,173 18,991 7,549 8,031 37,744
2,997 18,576 7,012 7,459 36,044
5.9% 2.2% 7.7% 7.7% 4.7%
66.0% 69.6% 64.7% 66.8% 67.7%
12,787 3,581 4,221 20,589
7.9% 3.0% 3.1% 6.1%
4,728 1,739 1,921 8,388
4,077 1,506 1,911 7,494
16.0% 15.5% 0.5% 11.9%
9,072 1,950 2,432 13,454
8,710 2,075 2,310 13,095
4.2% (6.0)% 5.3% 2.7%
5,194 6,979 2,488 3,572 40,075
4,821 6,487 2,437 3,356 37,690
7.7% 7.6% 2.1% 6.4% 6.3%
2,353 1,978 920 1,556 15,195
2,057 2,012 966 1,352 13,881
14.4% (1.7)% (4.8)% 15.1% 9.5%
2,841 5,001 1,568 2,016 24,880
2,764 4,475 1,471 2,004 23,809
3,329
13,715
13,006
5.5%
4,506
4,368
3.2%
9,209
38,145
36,644
151,240
143,941
5.1%
50,169
47,857
4.8%
5 4 6 14
1,180 1,114 1,643 8,222
1,066 1,114 1,564 8,222
3,917 3,384 4,955 21,375
3,753 3,162 4,791 20,321
4.4% 7.0% 3.4% 5.2%
1,359 1,260 1,532 8,519
1,376 1,174 1,454 8,628
Total Other
29
12,159
11,966
33,631
32,027
5.0%
12,670
Grand Total
139
50,304
48,610
$ 184,871 $ 175,968
5.1%
Miami Orlando Jacksonville Florida Total
$ 18,772 $ 17,937 6,110 5,907 8,747 8,538 33,629 32,382 1,865 1,693 1,211 1,108 4,510 4,052 7,586 6,853
4Q 2012
Growth
Net Operating Income
Average Revenue per Unit 4Q 2012 $
4Q 2011
2,251 $ 1,760 1,425 1,873 1,552 1,875 2,022 1,860
2,151 1,675 1,402 1,803 1,403 1,723 1,796 1,669
95.6% 95.9%
1,483 1,865
1,432 1,774
94.6% 95.3% 95.4% 95.6% 95.3%
96.7% 96.3% 95.4% 95.8% 96.0%
1,458 1,476 1,328 1,471 1,440
1,355 1,409 1,265 1,415 1,373
65.7% 52.9% 55.9% 61.6%
97.0% 94.2% 94.7% 95.6%
97.2% 94.7% 95.7% 96.1%
1,928 881 933 1,364
1,783 851 895 1,279
2.8% 11.8% 6.6% 0.6% 4.5%
54.7% 71.7% 63.0% 56.4% 62.1%
94.6% 95.5% 94.9% 94.8% 95.2%
91.8% 96.6% 95.5% 97.3% 95.5%
844 1,158 858 1,117 1,169
807 1,064 835 1,022 1,097
8,638
6.6%
67.1%
96.0%
94.1%
1,430
1,384
101,071
96,084
5.2%
66.8%
95.5%
95.7%
1,441
1,369
(1.2)% 7.3% 5.4% (1.3)%
2,558 2,124 3,423 12,856
2,377 1,988 3,337 11,693
7.6% 6.8% 2.6% 9.9%
65.3% 62.8% 69.1% 60.1%
93.9% 94.8% 95.9% 94.6%
94.5% 95.4% 94.7% 93.9%
1,304 1,068 1,101 916
1,241 992 1,078 878
12,632
0.3%
20,961
19,395
8.1%
62.3%
94.7%
94.2%
989
947
$ 62,839 $ 60,489
3.9%
$ 122,032 $ 115,479
5.7%
66.0%
95.3%
95.3%
$
1,330 $
1,266
23