AvalonBay Communities, Inc. reported Same store residential rental revenue for Established Communities for the two months ended May 31, 2022. Same Store Residential rental revenue for the two months ended May 31, 2022, increased 13.0% over the prior year period. This is approximately 190 basis points above what the Company's expectation was for Same Store Residential rental revenue growth for this two-month period when the Company published its most recent outlook for full year 2022 Same Store Residential rental revenue growth on April 27, 2022.