AvalonBay Communities (AVB) Posts Q4 Income Decline Amid Rents and Vacancy Pressures

AvalonBay Communities (AVB) reported a 15% year-over-year decline in Q4 income to $49.4 million, ending on January 31, 2026. The drop followed lower rental rates and higher vacancies, with the average lease rate down 2.3 points to 92.7%. Vacancy rates rose to 6.2% in the fourth quarter, up from 5.9% in the third. The company attributed the decline to softness in the multifamily market and continued inventory absorption. The stock closed at $37.25 on February 4, 2026, down 2.1% for the session.