Item 2. PROPERTIES

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Item 2. PROPERTIES

At December 31, 2018, our consolidated apartment portfolio included 127 communities located in 19 markets, with a total of 39,931 completed apartment homes.

The tables below set forth a summary of real estate portfolio by geographic market of the Company and of the Operating Partnership at December 31, 2018.

SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2018

UDR, INC.


			Percentage		Total								Average
	Number of	Number of	of Total		Carrying						Average		Home Size
	Apartment	Apartment	Carrying		Value		Encumbrances		Cost per		Physical		(in square
	Communities	Homes	Value		(in thousands)		(in thousands)		Home		Occupancy		feet)
WEST REGION
Orange County, CA	11	4,950	14.4	%	$	1,475,898	$	—	$	298,161	92.3	%	731
San Francisco, CA	11	2,751	8.5	%		868,607		27,000		315,742	96.7	%	830
Seattle, WA	15	2,837	9.7	%		993,287		74,910		350,119	96.5	%	900
Los Angeles, CA	4	1,225	4.5	%		454,303		67,700		370,860	96.2	%	967
Monterey Peninsula, CA	7	1,565	1.7	%		177,687		—		113,538	96.8	%	728
Other Southern California	2	654	1.1	%		107,159		—		163,852	96.5	%	960
Portland, OR	2	476	0.5	%		49,113		—		103,179	96.6	%	903
MID-ATLANTIC REGION
Metropolitan D.C.	21	7,798	19.9	%		2,036,504		213,078		261,157	97.4	%	883
Richmond, VA	4	1,358	1.5	%		148,231		—		109,154	97.9	%	1,018
Baltimore, MD	3	720	1.5	%		152,023		—		211,143	96.2	%	993
NORTHEAST REGION
New York, NY	4	1,945	12.9	%		1,314,294		—		675,730	97.9	%	742
Boston, MA	6	2,133	9.1	%		924,630		105,000		433,488	81.3	%	957
SOUTHEAST REGION
Orlando, FL	9	2,500	2.2	%		225,722		—		90,289	96.8	%	946
Tampa, FL	7	2,287	2.5	%		256,749		—		112,265	97.2	%	982
Nashville, TN	8	2,260	2.1	%		211,364		—		93,524	96.5	%	933
Other Florida	1	636	0.8	%		85,475		—		134,395	96.5	%	1,130
SOUTHWEST REGION
Dallas, TX	7	2,345	2.8	%		283,351		115,000		120,832	96.5	%	862
Austin, TX	4	1,273	1.6	%		164,002		—		128,831	97.1	%	913
Denver, CO	1	218	1.4	%		141,918		—		651,000	91.6	%	948
Total Operating Communities	127	39,931	98.7	%		10,070,317		602,688	$	252,193	95.5	%	880
Land	—	—	0.7	%		67,734		—
Other	—	—	0.6	%		58,108		(1,461)
Total Real Estate Owned	127	39,931	100.0	%	$	10,196,159	$	601,227

SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2018

UNITED DOMINION REALTY, L.P.


			Percentage		Total								Average
	Number of	Number of	of Total		Carrying						Average		Home Size
	Apartment	Apartment	Carrying		Value		Encumbrances		Cost per		Physical		(in square
	Communities	Homes	Value		(in thousands)		(in thousands)		Home		Occupancy		feet)
WEST REGION
Orange County, CA	5	3,119	19.3	%	$	737,373	$	—	$	236,413	96.4	%	583
San Francisco, CA	9	2,209	15.8	%		601,989		27,000		272,517	96.7	%	817
Seattle, WA	5	932	5.9	%		226,436		—		242,957	96.4	%	874
Los Angeles, CA	2	344	3.0	%		114,895		—		333,997	96.2	%	976
Monterey Peninsula, CA	7	1,565	4.7	%		177,687		—		113,538	96.8	%	728
Other Southern California	1	414	1.9	%		73,962		—		178,652	96.2	%	996
Portland, OR	2	476	1.3	%		49,113		—		103,179	96.6	%	903
MID-ATLANTIC REGION
Metropolitan D.C.	6	2,068	14.7	%		559,691		—		270,644	97.5	%	898
Baltimore, MD	2	540	2.8	%		104,684		—		193,859	96.4	%	968
NORTHEAST REGION
New York, NY	2	996	16.0	%		609,698		—		612,147	97.8	%	690
Boston, MA	1	387	1.9	%		72,882		—		188,326	97.0	%	1,069
SOUTHEAST REGION
Tampa, FL	2	942	2.8	%		106,909		—		113,492	97.7	%	1,043
Nashville, TN	6	1,612	3.9	%		148,338		—		92,021	96.3	%	925
Other Florida	1	636	2.3	%		85,475		—		134,395	96.5	%	1,130
SOUTHWEST REGION
Denver, CO	1	218	3.7	%		141,918		—		651,000	91.6	%	948
Total Operating Communities	52	16,458	100.0	%		3,811,050		27,000	$	231,562	96.7	%	828
Other	—	—	—	%		935		(71)
Total Real Estate Owned	52	16,458	100.0	%	$	3,811,985	$	26,929

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