Item 2. PROPERTIES

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Item 2. PROPERTIES

At December 31, 2020, our consolidated apartment portfolio included 149 communities located in 21 markets, with a total of 48,283 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, 2020.

SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2020

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	11.5	%	$	1,500,611	$	—	$	303,154	96.4	%	872
San Francisco, CA	11	2,751	6.8	%		888,683		27,000		323,041	91.5	%	841
Seattle, WA	14	2,725	7.3	%		957,686		—		351,444	96.7	%	887
Monterey Peninsula, CA	7	1,565	1.4	%		185,224		—		118,353	96.6	%	729
Los Angeles, CA	4	1,225	3.5	%		463,166		—		378,094	95.5	%	967
Other Southern California	3	817	1.6	%		211,285		—		258,611	97.2	%	1,018
Portland, OR	3	752	0.9	%		120,324		—		160,005	96.6	%	903
MID-ATLANTIC REGION
Metropolitan D.C.	23	8,402	18.1	%		2,350,124		288,530		279,710	96.5	%	915
Baltimore, MD	5	1,597	2.6	%		338,347		58,600		211,864	97.1	%	938
Richmond, VA	4	1,358	1.2	%		153,906		—		113,333	97.8	%	1,018
NORTHEAST REGION
New York, NY	6	2,318	11.9	%		1,552,358		—		669,697	92.5	%	754
Boston, MA	11	4,298	12.8	%		1,669,381		271,550		388,409	94.4	%	987
Philadelphia, PA	1	313	0.8	%		107,736		—		344,204	96.1	%	1,054
SOUTHEAST REGION
Tampa, FL	11	3,874	4.8	%		625,752		—		161,526	97.0	%	996
Orlando, FL	9	2,500	1.8	%		240,102		—		96,041	96.8	%	946
Nashville, TN	8	2,260	1.7	%		223,827		—		99,038	97.8	%	933
Other Florida	1	636	0.7	%		89,630		—		140,928	97.2	%	1,130
SOUTHWEST REGION
Dallas, TX	11	3,864	4.4	%		581,118		205,870		150,393	96.8	%	868
Austin, TX	4	1,272	1.3	%		171,482		—		134,813	97.6	%	913
Denver, CO	1	218	1.1	%		144,998		—		665,128	93.1	%	955
Total Operating Communities	148	47,695	96.2	%		12,575,740		851,550	$	263,670	96.0	%	908
Real Estate Under Development (a)	—	202	1.9	%		247,877		—
Land	—	—	0.5	%		61,682		—
Held for Disposition	1	386	0.9	%		116,655		—
Other	—	—	0.5	%		69,518		10,597
Total Real Estate Owned	149	48,283	100.0	%	$	13,071,472	$	862,147

	(a)	As of December 31, 2020, the Company was developing five wholly owned communities with a total of 1,378 apartment homes, 202 of which have been completed.

SUMMARY OF REAL ESTATE PORTFOLIO BY GEOGRAPHIC MARKET AT DECEMBER 31, 2020

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	%	$	753,801	$	—	$	241,680	96.6	%	805
San Francisco, CA	9	2,185	15.8	%		617,359		27,000		282,546	93.6	%	829
Seattle, WA	5	932	5.9	%		233,963		—		251,033	97.0	%	874
Monterey Peninsula, CA	7	1,565	4.7	%		185,224		—		118,353	96.6	%	729
Los Angeles, CA	2	344	3.0	%		118,281		—		343,837	96.4	%	976
Other Southern California	1	414	1.9	%		76,906		—		185,763	97.6	%	996
Portland, OR	2	476	1.3	%		52,126		—		109,508	97.1	%	903
MID-ATLANTIC REGION
Metropolitan D.C.	6	2,136	14.7	%		568,202		—		266,012	95.6	%	919
Baltimore, MD	2	540	2.8	%		108,779		—		201,443	97.8	%	967
NORTHEAST REGION
New York, NY	2	996	16.0	%		624,255		—		626,762	90.0	%	687
Boston, MA	1	387	1.9	%		76,059		72,500		196,535	95.5	%	1,069
SOUTHEAST REGION
Tampa, FL	3	1,614	2.8	%		233,991		—		144,976	97.7	%	1,068
Nashville, TN	6	1,612	3.9	%		157,415		—		97,652	97.6	%	925
Other Florida	1	636	2.3	%		89,630		—		140,928	97.2	%	1,130
SOUTHWEST REGION
Denver, CO	1	218	3.7	%		144,998		—		665,128	93.1	%	955
Total Operating Communities	53	17,174	100.0	%		4,040,989		99,500	$	235,297	96.0	%	884
Other	—	—	—	%		2,736		(396)
Total Real Estate Owned	53	17,174	100.0	%	$	4,043,725	$	99,104

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