Q2 Revenue Growth

AvalonBay Communities reported its second‑quarter 2026 results for the quarter ended June 2026, posting revenue of $777.77 million – a 2.3 % increase YoY – and funds from operations of $2.86 per share, surpassing the Zacks consensus of $2.80 and rising 1.4 % year over year. Same‑store residential revenue grew 1.6 %, while operating expenses increased 2.9 %, leaving same‑store NOI up 1 %. The company’s same‑store economic occupancy was 96.1 %, with average revenue per occupied home at $3,097 (up from $3,065 in Q1). Effective rent accelerated 2.6 % in Q2, driven by a 7.3 % increase in Northern California and 4.3 % in the New York‑New Jersey metro area.