Item 2. PROPERTIES

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Item 2. PROPERTIES

At December 31, 2019, our consolidated apartment portfolio included 148 communities located in 20 markets, with a total of 47,010 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, 2019.

SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2019

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	12	5,336	12.8	%	$	1,607,866	$	—	$	301,324	95.9	%	868
San Francisco, CA	11	2,751	7.0	%		881,394		27,000		320,390	96.8	%	841
Seattle, WA	16	2,992	8.4	%		1,063,695		70,931		355,513	96.6	%	890
Los Angeles, CA	4	1,225	3.6	%		458,189		—		374,032	96.6	%	967
Monterey Peninsula, CA	7	1,565	1.5	%		182,630		—		116,696	96.6	%	729
Other Southern California	3	817	1.6	%		207,986		42,698		254,573	95.8	%	1,014
Portland, OR	2	476	0.4	%		50,395		—		105,872	96.6	%	903
MID-ATLANTIC REGION
Metropolitan D.C.	23	8,305	18.3	%		2,322,872		252,067		279,696	97.4	%	909
Richmond, VA	4	1,358	1.2	%		151,726		—		111,728	97.4	%	1,018
Baltimore, MD	5	1,597	2.6	%		331,777		58,600		207,750	95.3	%	938
SOUTHEAST REGION
Orlando, FL	9	2,500	1.9	%		233,098		—		93,239	96.4	%	946
Nashville, TN	8	2,260	1.8	%		220,566		—		97,596	97.5	%	933
Tampa, FL	9	2,908	3.3	%		411,847		—		141,626	96.6	%	979
Other Florida	1	636	0.7	%		87,518		—		137,607	96.1	%	1,130
NORTHEAST REGION
New York, NY	6	2,318	12.3	%		1,543,545		—		665,895	97.0	%	754
Boston, MA	11	4,299	13.0	%		1,640,478		389,639		381,595	95.1	%	987
Philadelphia, PA	1	313	0.9	%		107,350		—		342,971	82.7	%	1,054
SOUTHWEST REGION
Dallas, TX	11	3,864	4.5	%		565,356		275,524		146,314	96.3	%	868
Austin, TX	4	1,272	1.3	%		167,217		—		131,460	97.3	%	913
Denver, CO	1	218	1.1	%		144,252		—		661,706	94.6	%	955
Total Operating Communities	148	47,010	98.2	%		12,379,757		1,116,459	$	263,343	96.4	%	908
Real Estate Under Development (a)	—	—	0.6	%		69,777		—
Land	—	—	0.7	%		87,615		—
Other	—	—	0.5	%		64,952		32,982
Total Real Estate Owned	148	47,010	100.0	%	$	12,602,101	$	1,149,441

	(a)	As of December 31, 2019, the Company was developing three wholly owned communities with a total of 878 apartment homes, none of which have been completed.

SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2019

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	%	$	746,564	$	—	$	239,360	96.6	%	805
San Francisco, CA	9	2,185	15.8	%		611,361		27,000		279,799	96.7	%	829
Seattle, WA	5	932	5.9	%		229,423		—		246,162	96.4	%	869
Los Angeles, CA	2	344	3.0	%		116,446		—		338,506	96.5	%	976
Monterey Peninsula, CA	7	1,565	4.7	%		182,630		—		116,696	96.6	%	729
Other Southern California	1	414	1.9	%		75,187		—		181,611	96.7	%	989
Portland, OR	2	476	1.3	%		50,395		—		105,872	96.6	%	903
MID-ATLANTIC REGION
Metropolitan D.C.	6	2,068	14.7	%		564,334		—		272,889	96.9	%	894
Baltimore, MD	2	540	2.8	%		106,373		—		196,987	96.7	%	967
SOUTHEAST REGION
Nashville, TN	6	1,612	3.9	%		155,207		—		96,282	97.5	%	925
Tampa, FL	2	942	2.8	%		110,065		—		116,842	97.4	%	1,043
Other Florida	1	636	2.3	%		87,518		—		137,607	96.1	%	1,130
NORTHEAST REGION
New York, NY	2	996	16.0	%		619,246		—		621,733	96.3	%	687
Boston, MA	1	387	1.9	%		74,757		72,500		193,171	95.3	%	1,069
SOUTHWEST REGION
Denver, CO	1	218	3.7	%		144,252		—		661,706	94.6	%	955
Total Operating Communities	52	16,434	100.0	%		3,873,758		99,500	$	235,716	96.7	%	871
Other	—	—	—	%		1,402		(429)
Total Real Estate Owned	52	16,434	100.0	%	$	3,875,160	$	99,071

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