The following table provides summary information regarding our total and Same Store portfolio (consisting of homes which had commenced their initial post-renovation lease prior to October 3, 2014) as of and for the periods ended December 31, 2016 as noted below.
Market
Number of homes(1)
Average Occupancy(2)
Average monthly rent(3)
Average monthly rent PSF(3)
% of Revenue(4)
Western United States
Southern California
4,630
94.9
%
$
2,176
$
1.28
12.5
%
Northern California
2,879
96.4
%
1,708
1.08
6.7
%
Seattle
3,184
94.3
%
1,875
0.99
8.0
%
Phoenix
5,649
94.7
%
1,128
0.72
8.3
%
Las Vegas
944
95.2
%
1,425
0.74
1.7
%
Western United States Subtotal
17,286
95.0
%
1,662
0.99
37.2
%
Florida
South Florida
5,582
94.6
%
2,145
1.12
14.6
%
Tampa
4,952
94.7
%
1,557
0.80
9.8
%
Orlando
3,719
95.2
%
1,478
0.77
7.0
%
Jacksonville
1,984
94.0
%
1,544
0.77
3.8
%
Florida Subtotal
16,237
94.7
%
1,738
0.90
35.2
%
Southeast United States
Atlanta
7,517
94.2
%
1,353
0.66
12.7
%
Charlotte
3,119
94.0
%
1,360
0.68
5.2
%
Southeast United States Subtotal
10,636
94.2
%
1,355
0.67
17.9
%
Midwest United States
Chicago
2,956
92.0
%
2,010
1.19
7.0
%
Minneapolis
1,183
94.2
%
1,749
0.88
2.7
%
Midwest United States Subtotal
4,139
92.6
%
1,934
1.09
9.7
%
Total/Average
48,298
94.5
%
$
1,643
$
0.89
100.0
%
Same Store Portfolio Total / Average
36,469
95.9
%
$
1,642
$
0.88
76.3
%
(1)
As of December 31, 2016.
(2)
Represents average occupancy for the year ended December 31, 2016.
(3)
Represents average rent, net of rental concessions, for the three months ended December 31, 2016.
(4)
Represents the percentage of total revenue generated in each market for the three months ended December 31, 2016.
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