<SEC-DOCUMENT>0001104659-21-150559.txt : 20211216
<SEC-HEADER>0001104659-21-150559.hdr.sgml : 20211216
<ACCEPTANCE-DATETIME>20211216164421
ACCESSION NUMBER:		0001104659-21-150559
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		13
CONFORMED PERIOD OF REPORT:	20211216
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20211216
DATE AS OF CHANGE:		20211216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AVALONBAY COMMUNITIES INC
		CENTRAL INDEX KEY:			0000915912
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		IRS NUMBER:				770404318
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12672
		FILM NUMBER:		211498256

	BUSINESS ADDRESS:	
		STREET 1:		4040 WILSON BOULEVARD
		STREET 2:		STE 1000
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22203
		BUSINESS PHONE:		7033296300

	MAIL ADDRESS:	
		STREET 1:		4040 WILSON BOULEVARD
		STREET 2:		STE 1000
		CITY:			ARLINGTON
		STATE:			VA
		ZIP:			22203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AVALON BAY COMMUNITIES INC
		DATE OF NAME CHANGE:	19980618

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BAY APARTMENT COMMUNITIES INC
		DATE OF NAME CHANGE:	19931208
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>tm2135400d1_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<XBRL>
<?xml version="1.0" encoding="utf-8"?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xs="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:dei="http://xbrl.sec.gov/dei/2021" xmlns:ref="http://www.xbrl.org/2006/ref" xmlns:us-gaap="http://fasb.org/us-gaap/2021-01-31" xmlns:us-roles="http://fasb.org/us-roles/2021-01-31" xmlns:country="http://xbrl.sec.gov/country/2021" xmlns:srt="http://fasb.org/srt/2021-01-31" xmlns:avb="http://avalonbay.com/20211216">
<head>
     <title></title>
<meta http-equiv="Content-Type" content="text/html" />
</head>
<!-- Field: Set; Name: xdx; ID: xdx_02A_US%2DGAAP%2D2021 -->
<!-- Field: Set; Name: xdx; ID: xdx_032_avb_avalonbay.com_20211216 -->
<!-- Field: Set; Name: xdx; ID: xdx_040_20211216_20211216 -->
<!-- Field: Set; Name: xdx; ID: xdx_052_edei%2D%2DEntityCentralIndexKey_0000915912 -->
<!-- Field: Set; Name: xdx; ID: xdx_059_edei%2D%2DAmendmentFlag_false -->
<!-- Field: Set; Name: xdx; ID: xdx_06B_USD_1_iso4217%2D%2DUSD -->
<!-- Field: Set; Name: xdx; ID: xdx_062_Shares_2_xbrli%2D%2Dshares -->
<!-- Field: Set; Name: xdx; ID: xdx_06D_USDPShares_3_iso4217%2D%2DUSD_xbrli%2D%2Dshares -->
<body style="font: 10pt Times New Roman, Times, Serif">
<div style="display: none">
<ix:header>
 <ix:hidden>
  <ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityCentralIndexKey">0000915912</ix:nonNumeric>
  <ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:booleanfalse" name="dei:AmendmentFlag">false</ix:nonNumeric>
  </ix:hidden>
 <ix:references>
  <link:schemaRef xlink:href="avb-20211216.xsd" xlink:type="simple" />
  </ix:references>
 <ix:resources>
    <xbrli:context id="From2021-12-16to2021-12-16">
      <xbrli:entity>
        <xbrli:identifier scheme="http://www.sec.gov/CIK">0000915912</xbrli:identifier>
      </xbrli:entity>
      <xbrli:period>
        <xbrli:startDate>2021-12-16</xbrli:startDate>
        <xbrli:endDate>2021-12-16</xbrli:endDate>
      </xbrli:period>
    </xbrli:context>
    <xbrli:unit id="USD">
      <xbrli:measure>iso4217:USD</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="Shares">
      <xbrli:measure>xbrli:shares</xbrli:measure>
    </xbrli:unit>
    <xbrli:unit id="USDPShares">
      <xbrli:divide>
        <xbrli:unitNumerator>
          <xbrli:measure>iso4217:USD</xbrli:measure>
        </xbrli:unitNumerator>
        <xbrli:unitDenominator>
          <xbrli:measure>xbrli:shares</xbrli:measure>
        </xbrli:unitDenominator>
      </xbrli:divide>
    </xbrli:unit>
  </ix:resources>
 </ix:header>
</div>


<p style="margin: 0">&#160;</p>

<p style="margin-top: 0pt; margin-bottom: 0pt"></p>

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">UNITED STATES</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SECURITIES AND EXCHANGE COMMISSION</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Washington, D.C. 20549</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">FORM&#160;<span id="xdx_90B_edei--DocumentType_c20211216__20211216_ztAFCtrUimZb"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:DocumentType">8-K</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">CURRENT REPORT</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PURSUANT TO SECTION&#160;13 OR 15(d)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">OF THE SECURITIES EXCHANGE ACT OF 1934</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):&#160; <span id="xdx_90D_edei--DocumentPeriodEndDate_c20211216__20211216_zVew5Izr3Ghl"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:datemonthdayyearen" name="dei:DocumentPeriodEndDate">December 16, 2021</ix:nonNumeric> </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span id="xdx_909_edei--EntityRegistrantName_c20211216__20211216_zmBlGUQq3sWc"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityRegistrantName">AVALONBAY COMMUNITIES, INC.</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>(Exact name of registrant as specified in its charter)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission file number <span id="xdx_900_edei--EntityFileNumber_c20211216__20211216_zTuQCIcyxq91"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityFileNumber">1-12672</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table border="0" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
    <td style="width: 10%">&#160;</td>
    <td style="vertical-align: top; width: 39%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90B_edei--EntityIncorporationStateCountryCode_c20211216__20211216_z3SGiycR5jK2"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt-sec:stateprovnameen" name="dei:EntityIncorporationStateCountryCode">Maryland</ix:nonNumeric></span></span></td>
    <td style="vertical-align: bottom; width: 2%">&#160;</td>
    <td style="vertical-align: top; width: 39%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90A_edei--EntityTaxIdentificationNumber_c20211216__20211216_zeANIwJZYTR3"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityTaxIdentificationNumber">77-0404318</ix:nonNumeric></span></span></td>
    <td style="width: 10%">&#160;</td></tr>
<tr>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"><i>(State or other jurisdiction of</i></span></td>
    <td style="vertical-align: bottom"><i>&#160;</i></td>
    <td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><i>(I.R.S. Employer</i></span></td>
    <td>&#160;</td></tr>
<tr>
    <td>&#160;</td>
    <td style="vertical-align: top; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif"><i>incorporation or organization)</i></span></td>
    <td style="vertical-align: bottom"><i>&#160;</i></td>
    <td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><i>Identification No.)</i></span></td>
    <td>&#160;</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span id="xdx_908_edei--EntityAddressAddressLine1_c20211216__20211216_zRCAAQ2347z9"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityAddressAddressLine1">4040 Wilson Blvd. Suite 1000</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span id="xdx_900_edei--EntityAddressCityOrTown_c20211216__20211216_z6sW0U4YUlIb"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityAddressCityOrTown">Arlington</ix:nonNumeric></span>, <span id="xdx_904_edei--EntityAddressStateOrProvince_c20211216__20211216_z7f8RjoN8Zn4"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince">Virginia</ix:nonNumeric></span> <span id="xdx_901_edei--EntityAddressPostalZipCode_c20211216__20211216_zHRAMQsgBtY6"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:EntityAddressPostalZipCode">22203</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>(Address of principal executive offices)(Zip code)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(<span id="xdx_905_edei--CityAreaCode_c20211216__20211216_zkgpJnqAqwgi"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:CityAreaCode">703</ix:nonNumeric></span>) <span id="xdx_902_edei--LocalPhoneNumber_c20211216__20211216_z3tEunLLC9a2"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:LocalPhoneNumber">329-6300</ix:nonNumeric></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>(Registrant&#8217;s telephone number, including area code)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>(Former name, if changed since last report)</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form&#160;8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_902_edei--WrittenCommunications_c20211216__20211216_zXqDikBKAj93"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:booleanfalse" name="dei:WrittenCommunications">&#168;</ix:nonNumeric></span></span>&#160; Written communications pursuant to Rule&#160;425 under the Securities Act (17 CFR 230.425)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_90B_edei--SolicitingMaterial_c20211216__20211216_zm1TISsif3Fl"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:booleanfalse" name="dei:SolicitingMaterial">&#168;</ix:nonNumeric></span></span>&#160; Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_90F_edei--PreCommencementTenderOffer_c20211216__20211216_zmPY7eO2sUth"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:booleanfalse" name="dei:PreCommencementTenderOffer">&#168;</ix:nonNumeric></span></span>&#160; Pre-commencement communications pursuant to Rule&#160;14d-2(b)&#160;under the Exchange Act (17 CFR 240.14d-2(b))</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font-family: Wingdings"><span id="xdx_901_edei--PreCommencementIssuerTenderOffer_c20211216__20211216_zOWgwy0xs2Yc"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:booleanfalse" name="dei:PreCommencementIssuerTenderOffer">&#168;</ix:nonNumeric></span></span>&#160; Pre-commencement communications pursuant to Rule&#160;13e-4(c)&#160;under the Exchange Act (17 CFR 240.13e-4(c))</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Securities registered pursuant to Section&#160;12(b)&#160;of the Act:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table border="0" cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
    <td style="border-bottom-width: 1pt; border-bottom-style: solid; border-image: none; width: 34%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Title&#160;of&#160;each&#160;class</span></td>
    <td style="width: 1%; text-align: center">&#160;</td>
    <td style="border-bottom-width: 1pt; border-bottom-style: solid; padding-left: 10pt; border-image: none; width: 32%; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Trading&#160;Symbol</span></td>
    <td style="width: 1%; text-align: center">&#160;</td>
    <td style="border-bottom-width: 1pt; border-bottom-style: solid; border-image: none; width: 32%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Name&#160;of&#160;each&#160;exchange&#160;on&#160;which&#160;registered</span></td></tr>
<tr style="vertical-align: top">
    <td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_905_edei--Security12bTitle_c20211216__20211216_zViznQw1JgS1"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:Security12bTitle">Common Stock, par value $0.01 per share</ix:nonNumeric></span></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_902_edei--TradingSymbol_c20211216__20211216_zRhgCDYxoVEe"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" name="dei:TradingSymbol">AVB</ix:nonNumeric></span></span></td>
    <td>&#160;</td>
    <td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_903_edei--SecurityExchangeName_c20211216__20211216_zbEPy2b183Nb"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt-sec:exchnameen" name="dei:SecurityExchangeName">New York Stock Exchange</ix:nonNumeric></span></span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule&#160;405 of the Securities Act of 1933 or Rule&#160;12b-2 of the Securities Exchange Act of 1934.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt; text-indent: 0.5in"><span style="font: 10pt Times New Roman, Times, Serif">Emerging growth company </span><span style="font-family: Wingdings"><span id="xdx_906_edei--EntityEmergingGrowthCompany_c20211216__20211216_zeDwWD0eoWMk"><ix:nonNumeric contextRef="From2021-12-16to2021-12-16" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#168;</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="margin: 0pt 0; font-size: 10pt"><span style="font: 10pt Times New Roman, Times, Serif">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&#160;13(a)&#160;of the Exchange Act.&#160; </span><span style="font-family: Wingdings">&#168;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Rule-Page --><div style="margin-top: 3pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 1pt solid; border-bottom: Black 2pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 1 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt"><b>Item 5.02 &#160;&#160; Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">AvalonBay Communities, Inc.
(the &#8220;Company&#8221;) previously reported in its  <a href="https://www.sec.gov/ix?doc=/Archives/edgar/data/915912/000110465921096965/tm2123246d1_8k.htm" style="-sec-extract: exhibit">Current Report on Form 8-K filed July 28, 2021</a>  (the &#8220;July 2021 8-K&#8221;)
that William M. McLaughlin, Executive Vice President &#8211; Development &amp; Construction, would be retiring on or about January 1,
2022. The July 2021 8-K reported that (i) because of his length of service and age, Mr. McLaughlin qualified for various benefits by
reason of a departure due to retirement, assuming he entered into a Retirement Agreement containing a general release and other terms,
and (ii) it was expected that Mr. McLaughlin would provide consulting and transition services through at least March 2023 on terms to
be determined.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">Mr. McLaughlin executed a Retirement Agreement on December
16, 2021 (the &#8220;Retirement Agreement&#8221;), and, as previously announced, will retire from the Company on January 1, 2022 (the
&#8220;Retirement Date&#8221;). The Retirement Agreement, including the terms of a consulting arrangement with Mr. McLaughlin, provides
as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Mr. McLaughlin will receive, at the same time in 2022 that
the Company pays its annual short term bonuses to other employees (but in no event later than March 15, 2022), a cash payment representing
the dollar amount of Mr. McLaughlin&#8217;s 2021 annual bonus (cash and stock) as determined in good faith by the Company based on corporate,
business unit and individual performance for 2021. In addition, the performance units from Mr. McLaughlin&#8217;s 2019-2021 performance
award that are determined to be earned in accordance with the achievement of corporate performance metrics shall, as for other officers,
convert in early 2022 (but in no event later than March 15, 2022) into fully vested shares of common stock and a cash amount equal to
the dividends that would have been payable on such number of shares during the performance period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Mr. McLaughlin will provide consulting services to the Company
through March 31, 2023 (the &#8220;Consulting Period End Date&#8221;), such services to include assisting and advising the Company in
the establishment of its development, investment and operations franchises in North Carolina and Florida and providing other advice and
counsel to the Company as requested from time to time with respect to regions and matters he was in charge of prior to the Retirement
Date. Mr. McLaughlin is not expected to, and will not be required to, work more than 20% of his working time as an officer of the Company
prior to the Retirement Date. The Company will compensate Mr. McLaughlin at the rate of $5,000 per month for his services as a consultant.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in"></p>

<!-- Field: Page; Sequence: 2 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">Shares of restricted stock that Mr. McLaughlin holds will continue
to vest during the term of his consulting services and any remaining unvested shares shall vest on the 30<sup>th</sup> day after the Consulting
Period End Date, provided Mr. McLaughlin provides a confirmatory separation agreement (&#8220;Confirmatory Agreement&#8221;) containing
a general release and confirmation of his commitments under the Retirement Agreement. Mr. McLaughlin&#8217;s 2020-2022 performance award
will vest and be earned in the ordinary course during the term of the consulting services, with the exact number of units earned depending
on the achievement of corporate performance metrics during the performance period. In addition, assuming Mr. McLaughlin provides a Confirmatory
Agreement, as of the Consulting Period End Date a pro rata portion of Mr. McLaughlin&#8217;s 2021-2023 performance award will vest (such
pro rata portion equal to the number of days that have elapsed in the performance period through the Consulting Period End Date in relation
to the total number of days in the performance period), and such pro rata award shall be earned at the end of the 2021-2023 performance
period depending on the achievement of corporate performance metrics. The employee stock options that Mr. McLaughlin was awarded in February
2021 shall continue to vest during the term of the consulting services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">If Mr. McLaughlin properly elects to continue his health coverage under COBRA, the Company will also pay the cost of premiums for continuation of such benefits under COBRA through
July 31, 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt">The Retirement Agreement also contains a general release
of claims and various other terms in favor of the Company as typically appear in the Company&#8217;s standard retirement agreements with
officers and associates (e.g., confidentiality, return of property, cooperation on litigation matters that may arise, and non-competition
and non-solicitation for hire of Company employees for a period of time).&#160; The description of the Retirement Agreement herein is
qualified by reference to the full text of the Retirement Agreement which is attached as an exhibit to this report on Form 8-K.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 1in 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Item 9.01.&#160; Financial Statements and Exhibits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(d)&#160; Exhibits.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 5%; text-align: left"><a href="tm2135400d1_ex1-1.htm" style="-sec-extract: exhibit">1.1</a></td><td style="text-align: justify; width: 95%"><a href="tm2135400d1_ex1-1.htm" style="-sec-extract: exhibit">Retirement Agreement by and between AvalonBay Communities, Inc.,
and William M. McLaughlin, dated December 16, 2021.</a></td>
</tr><tr style="vertical-align: top; text-align: justify">
<td style="text-align: left">104</td><td style="text-align: justify"> Cover Page Interactive Data File (embedded within the Inline XBRL document) (filed herewith)</td></tr>
     </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">[Remainder of page left blank intentionally]</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 3 -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURE</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be filed on its behalf by the undersigned hereunto duly authorized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td><span style="font-size: 10pt">&#160;</span></td>
<td colspan="2"><span style="font-size: 10pt">AVALONBAY COMMUNITIES, INC.</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-size: 10pt">&#160;</span></td>
<td><span style="font-size: 10pt">&#160;</span></td>
<td><span style="font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="width: 50%"><span style="font-size: 10pt">Dated: December 16, 2021</span></td>
<td style="width: 3%"><span style="font-size: 10pt">By:</span></td>
<td style="border-bottom: Black 1pt solid; width: 47%"><span style="font-size: 10pt">/s/ Kevin
P. O&#8217;Shea</span></td>
</tr>
<tr>
<td style="vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
<td style="vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
<td style="padding-left: 0.2in; vertical-align: top"><span style="font-size: 10pt">Kevin P. O&#8217;Shea</span></td>
</tr>
<tr>
<td style="vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
<td style="vertical-align: top"><span style="font-size: 10pt">&#160;</span></td>
<td style="padding-left: 0.2in; vertical-align: top"><span style="font-size: 10pt">Chief Financial Officer</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p>

<!-- Field: Page; Sequence: 4; Options: Last -->
    <div style="border-bottom: Black 1pt solid; margin-top: 12pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page -->

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

</body>
</html>
<!-- Field: Set; Name: xdx; ID: xdx_08B_extensions -->
<!-- eJxFjd0KwjAMhZ9g7xB6LbMbiro7HTrEKTJEvK0uSnFrRlr/Hsm3tG6IIRCSc74cIXoio4WukOEwK3LYYd1UyiEUeEZGc0LvSJerBPws8KKtY2Vcu/7AlDyDnhmG8ujvrfOuLZYJyFE/nvSjCchxMpAwXYvgq6dkzrpE47SqQJkStkwNa3SKX92HnXqSofrVJu2RrSaTQBTKTn5DLKMYNnRXD+KrhTxPRdBrKxAZ0635xtysoxrmFdY+y3bov4MP3B5JFg== -->
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-1.1
<SEQUENCE>2
<FILENAME>tm2135400d1_ex1-1.htm
<DESCRIPTION>EXHIBIT 1.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 1.1&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>RETIREMENT AGREEMENT AND GENERAL RELEASE</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.05in; text-indent: 1in">AvalonBay Communities, Inc. (&#8220;<U>AvalonBay</U>&#8221;,
 &#8220;<U>Employer</U>&#8221; or the &#8220;<U>Company</U>&#8221;), and any of its related or affiliated entities, and William M. McLaughlin,
117 Hammond Street, Newton, MA, his heirs, executors, administrators, successors, and assigns (collectively referred to throughout this
Retirement Agreement and General Release as &#8220;<U>Employee</U>&#8221; or &#8220;<U>you</U>&#8221; and, together with AvalonBay, the
 &#8220;<U>Parties</U>&#8221;), agree that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">1.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Last
Day of Employment</U></B>. Employee is retiring from AvalonBay and his last day of as an officer with Employer will be January 1, 2022
(&#8220;<U>Retirement Date</U>&#8221;) unless Employee resigns earlier or his employment with Employer is terminated for Cause (as defined
in Employer&#8217;s Second Amended and Restated 2009 Equity Incentive Plan). Employee shall be deemed to have resigned from all officer
and board member positions that Employee holds with Employer or any of its subsidiaries and affiliates upon the Retirement Date (or his
earlier resignation or termination for Cause) and Employee agrees to execute any documents in reasonable form as may be requested to
confirm or effectuate any such resignations. Following the Retirement Date, Employee will be engaged to provide the Consulting Services
until the Consulting Period End Date (as such terms are defined in Section 11 below). This Retirement Agreement and General Release (&#8220;<U>Agreement</U>&#8221;)
provides for consideration to be paid to Employee as a result of his retirement and the Consulting Services, which consideration is conditioned
on Employee&#8217;s agreements and commitments contained herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">2.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Consideration</U></B>. In consideration for signing and not revoking this Agreement and compliance with the promises made
herein, Employer agrees to provide to you the following payments and benefits, provided (i) you sign this Agreement and do not revoke
it such that it becomes effective by the 30<SUP>th</SUP> day after the Retirement Date and (ii) prior to the Retirement Date, you are
not terminated for Cause nor voluntarily terminate your employment:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>2021 Annual Short Term Bonuses Paid in Cash</U>. Employer will pay to Employee, at the same time in 2022 that it pays annual
short term bonuses in respect of 2021 to its other employees (but in no event later than March 15, 2022), a cash payment representing
the dollar value of Employee&#8217;s 2021 annual short term (cash and stock) bonus as determined in good faith by Employer based on corporate,
business unit and individual performance for 2021. This payment includes any and all consideration for bonuses of any type for 2021 service,
and no payment shall be made in consideration of a multi-year performance award for 2022-2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><U>Benefits Coverage</U>. If Employee properly elects to continue health coverage under Employer&#8217;s health, vision and dental
plans in accordance with the continuation requirements of COBRA, Employer shall subsidize 100% of the cost of said coverage beginning
on the first day of the month following Employee&#8217;s last day of employment and ending on July 31, 2022. Thereafter, Employee shall
be entitled to elect to continue such COBRA coverage for the remainder of the COBRA period, at his own expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in"></P>

<!-- Field: Page; Sequence: 1; Options: NewSection; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">3.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT> <B><U>Equity Awards</U></B>. Provided</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">(i) you sign this Agreement
and do not revoke it such that it becomes effective by the 30<SUP>th</SUP> day after the Retirement Date, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">(ii) if later requested,
you sign and deliver a Separation Agreement (as defined in the agreements relating to the equity awards described in this Section 3),
which Separation Agreement shall confirm the releases, covenants and commitments made by you herein but shall not expand or modify such
releases, covenants and commitments, and such Separation Agreement becomes effective (including through the passage without revocation
of any revocation period provided therein) within 30 days of the Consulting End Period Date (it being noted, for the sake of clarity,
that your failure to sign such a Separation Agreement or for it to become effective shall not affect your right to retain any shares of
unrestricted stock delivered to you or cash paid to you before the Consulting Period End Date, and you shall have earned such shares and
items without risk of forfeiture):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 2in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">then the following shall apply:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In accordance with the terms of the applicable Restricted Stock Award Agreements, all shares of restricted stock that Employee
was granted prior to the Retirement Date will continue to vest until the Consulting Period End Date, and shares not vested before such
date will vest on the 30<SUP>th</SUP> day thereafter, with shares to be delivered within a further five business days thereafter.&nbsp;
Required Employer tax withholding on vested shares shall be accomplished by withholding a portion of the vested shares that would otherwise
be delivered.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In accordance with the terms of the applicable Personal Performance Award Agreement, Employee shall remain eligible to earn and
vest in 100% of the target Units of his maturing 2019-2021 performance award (2,989 Units) following the completion of the Performance
Period (as defined in the applicable Personal Performance Award Agreement). Such vested Units are referred to as your &#8220;Vested 2019-2021
Units&#8221;. After the end of the 2019-2021 performance period and when achievement is determined for such performance period, any earned
Vested 2019-2021 Units (which could be more or less than the target number depending on whether achievement under the award is more or
less than target) will convert into fully vested shares of AvalonBay common stock (with the same timing for conversion of units as applies
to other participants in that plan), subject to withholding of shares to fund withholding taxes and (subject to tax withholding) a cash
amount equal to the dividends that would have been payable on such number of shares during the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 2; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>In
accordance with the terms of the applicable Personal Performance Award Agreement, Employee&#8217;s 2020-2022 performance award shall
remain outstanding and continue to vest until the earlier of its maturity or the Consulting Period End Date. If the Consulting
Period End Date does not occur before December 31, 2022, then you shall remain eligible to earn and vest in 100% of the target Units
of the 2020-2022 performance award (3,088 Units) following the completion of the Performance Period (as defined in the applicable
Personal Performance Award Agreement). If the Consulting Period End Date occurs before December 31, 2022, then you shall remain
eligible to earn and vest in a fraction of the target Units of the 2020-2022 performance award following the completion of the
Performance Period, such fraction being determined by dividing (i) the number of days from and including January 1, 2020 through and
including the Consulting Period End Date by (ii) 1,096 (such number being the number of days from and including January 1, 2020
through and including December 31, 2022). In either event, the 2020-2022 Units that are earned and vest are referred to herein as
your &#8220;Vested 2020-2022 Units&#8221;. After the end of the 2020-2022 performance period and when achievement is determined for
such performance period, any earned Vested 2020-2022 Units (which could be more or less than the target number (as may be pro-rated)
depending on whether achievement under the award is more or less than target) will convert into fully vested shares of AvalonBay
common stock (with the same timing for conversion of Units as applies to other participants in that plan), subject to withholding of
shares to fund withholding taxes and (subject to tax withholding) a cash amount equal to the dividends that would have been payable
on such number of shares during the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In accordance with the terms of the applicable Personal Performance Award Agreement, Employee&#8217;s 2021-2023 performance award
shall remain outstanding and continue to vest until the earlier of its maturity or the Consulting Period End Date. If the Consulting Period
End Date is March 31, 2023, then you shall remain eligible to earn and vest in 74.8% (2,995 Units) of the target Units of the 2021-2023
performance award (4,000 Units), such percentage determined by dividing (i) 820 (the number of days from and including January 1, 2021
through and including March 31, 2023) by (ii) 1,095 (the number of days from and including January 1, 2021 through and including December
31, 2023). If the Consulting Period End Date occurs before March 31, 2023, then you shall remain eligible to earn and vest in a fraction
of the target Units of the 2021-2023 performance award, such fraction being determined by dividing (i) the number of days from and including
January 1, 2021 and through and including the Consulting Period End Date by (ii) 1,095. In either event, the 2021-2023 Units that are
earned and vest are referred to herein as your &#8220;Vested 2021-2023 Units&#8221;. After the end of the 2021-2023 performance period
and when achievement is determined for such performance period, any earned Vested 2021-2023 Units (which could be more or less than the
target number (as pro-rated) depending on whether achievement under the award is more or less than target) will convert into fully vested
shares of AvalonBay common stock (with the same timing for conversion of units as applies to other participants in that plan), subject
to withholding of shares to fund withholding taxes and (subject to tax withholding) a cash amount equal to the dividends that would have
been payable on such number of shares during the Performance Period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(e)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>In accordance with the terms of the applicable Stock Option Agreements, you shall continue to vest in the stock options to purchase
8,729 shares of Employer&#8217;s common stock awarded to you in 2021 (the &#8220;<U>2021 Options</U>&#8221;) until the Consulting Period
End Date. The 2021 Options will continue to be governed by the terms of the Stock Option Agreements related thereto, including that the
term of the 2021 Options shall expire prematurely in the event that Employee engages in Restricted Activities with any Competing Enterprise
(as such terms are defined in the applicable Stock Option Agreement) during the first 24 months following the Consulting Period End Date.
Any 2021 Options that are &#8220;incentive stock options&#8221; under Section 422 of the Internal Revenue Code of 1986, as amended (the
 &#8220;Code&#8221;), will cease to qualify as such to the extent the options are exercised more than three months after your termination
of employment as an employee (or twelve months in the case of death or disability).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 3; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">It is noted that the Personal Performance Award
Agreements governing the performance awards granted to you have terms that will apply (and modify the calculations and terms described
immediately above) if a Sale Event occurs prior to the end of an applicable performance period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.75in">(f)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;
</FONT><U>Deferred Compensation</U>. Pursuant to the Company&#8217;s deferred compensation plan, the Company will pay to you any amounts
owed thereunder in accordance with the Company&#8217;s deferred compensation plan document and your elections thereunder. Your &#8220;separation
of service&#8221; date for purposes of the deferred compensation plan will be determined in accordance with the terms thereunder and with
Section 409A of the Code and is expected to be the same as the Retirement Date based on the level of services it is expected that you
will perform after the Retirement Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.75in">(g)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><U>Vacation</U>: Promptly after the Retirement Date, Employer will pay Employee for 80 hours of vacation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.75in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.75in">(h)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;
</FONT><U>401(k) Account</U>: Promptly following your termination of employment with Employer Employee&#8217;s 401(k) account will be
processed according to the Employer&#8217;s 401(k) plan document. Employer will cooperate with the processing of Employee&#8217;s 401(k)
account should Employee decide to roll such account over into another deferred tax account as permitted under applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">4.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>No Consideration Absent Execution of this Agreement</U></B>. Employee understands and agrees that he would not receive the
monies and/or benefits specified in Section 2 or Section 3(a), (b), (c) and (d) above, except for his execution (and non-revocation) of
this Agreement and the fulfillment of the promises contained herein. Employee agrees and acknowledges that the consideration provided
to Employee under this Agreement is in addition to anything of value to which Employee is already entitled and that this Agreement sets
forth all the consideration to which Employee is entitled by reason of his retirement from Employer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">5.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>General Release of Claims.</U></B> As a condition of qualifying for retirement and in consideration of the payment and benefits
described above and for other good and valuable consideration, Employee covenants and agrees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee knowingly and voluntarily releases
and forever discharges, to the full extent permitted by law, Employer, its parent corporation, affiliates, subsidiaries, divisions, predecessors,
successors and assigns and the current and former employees, officers, directors and agents thereof (collectively referred to throughout
the remainder of this Agreement as &#8220;<U>Employer</U>&#8221;), of and from any and all debts, obligations, promises, covenants, agreements,
contracts, endorsements, bonds, controversies, suits, actions, causes of action, judgments, damages, expenses, claims or demands, in law
or in equity, known and unknown, asserted and unasserted, Employee has or may have against Employer as of the date of execution of this
Agreement and General Release, regarding Employee&#8217;s employment at or termination of employment from Employer, any contract (express
or implied), any claim for equitable relief or recovery of punitive, compensatory, or other damages or monies, attorneys&#8217; fees,
any tort, and all claims, including, but not limited to, any alleged violation of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 4; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt">
<TR STYLE="vertical-align: top">
  <TD STYLE="padding-left: 10pt; text-indent: -10pt; width: 0.5in">&nbsp;</TD>
  <TD STYLE="font-family: Times New Roman, Times, Serif; padding-left: 10pt; text-indent: -10pt; width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD>
  <TD STYLE="padding-left: 10pt; text-indent: -10pt">Title VII of the Civil Rights Act of 1964, as amended;</TD></TR>

<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Civil Rights Act of 1991;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Sections 1981 through 1988 of Title 42 of the United States
Code, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Employee Retirement Income Security Act of 1974, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Immigration Reform and Control Act, as amended;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">The Age Discrimination in Employment Act of 1967, as amended</TD></TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Americans with Disabilities Act of 1990, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Worker Adjustment and Retraining Notification Act, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Occupational Safety and Health Act, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Sarbanes-Oxley Act of 2002;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The National Labor Relations Act;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Genetic Information Nondiscrimination Act of 2008;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Equal Pay Act of 1963, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Family and Medical Leave Act of 1993, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Fair Labor Standards Act, as amended;</TD>
</TR>
<TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="font-family: Times New Roman, Times, Serif; width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">The Consolidated Omnibus Budget Reconciliation Act, as amended;</TD>
</TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Fair Employment Practices Act &#8211; M.G.L. c. 151 B;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Workers&#8217; Compensation Act- M.G.L. c. 152 &sect;75B;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Small Necessities Act- M.G.L. c. 149 &sect;52D;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Equal Pay Act- M.G.L. c. 149 &sect;105A-C;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Maternity Leave Act, M.G.L. c. 149, &sect; 105D;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Age Discrimination Law - M.G.L. c. 149 &sect;24A et seq.;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Payment of Wages Laws &#8211; M.G.L. c.149 &sect;148 et seq.;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Civil Rights Act &#8211; M.G.L. c.12, 11H &amp; I;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Equal Rights for the Elderly and Disabled Law &#8211; M.G.L. c. 93 &sect;103;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Equal Rights Act &#8211; M.G.L. c. 93 &sect;102;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts AIDS Testing &#8211; M.G.L. c. 111 &sect;70F;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Privacy Statute &#8211; M.G.L. c. 214 &sect;1B;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Sexual Harassment Statute &#8211; M.G.L. c. 214 &sect;1C;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Consumer Protection Act &#8211; M.G.L. c. 93A;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">The Massachusetts Personnel Records Law &#8211; M.G.L &nbsp;c. 149 &sect;52C;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Unauthorized Aliens law&#8211; M.G.L &nbsp;c. 149 &sect;19C;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Criminal Offender Record Information Act (CORI) &#8211; M.G.L c.6, &sect;167-178B;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Massachusetts Earned Sick Time Law;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Any other federal, state or local civil or human rights law or any other local, state or federal law, regulation or ordinance;</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Any public policy, contract, tort, or common law; and</TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top">
<TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.5in"></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 0.25in"><FONT STYLE="font-family: Symbol; font-size: 10pt">&middot;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">Any claim for costs, fees, or other expenses including attorneys&#8217; fees.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Employee agrees and acknowledges that this Agreement constitutes a knowing and voluntary waiver of all rights or claims he has
or may have against Employer as set forth herein, including, but not limited to, all rights or claims arising under the Age Discrimination
in Employment Act of 1967, as amended (&#8220;<U>ADEA</U>&#8221;), including, but not limited to, all claims of age discrimination in
employment and all claims of retaliation in violation of the ADEA; and Employee has no physical or mental impairment of any kind that
has interfered with his ability to read and understand the meaning of this Agreement or its terms, and that Employee is not acting under
the influence of any medication or mind-altering chemical of any type in entering into this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 5; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT>Nothing in this Agreement shall prevent Employee (or Employee&#8217;s attorneys) from (i) commencing an action or proceeding to
enforce this Agreement or (ii) exercising Employee&#8217;s right under the Older Workers Benefit Protection Act of 1990 to challenge the
validity of Employee&#8217;s waiver of ADEA claims set forth in this Section 5 of this Agreement or (iii) enforcing Employee&#8217;s rights
to indemnification under the Company&#8217;s bylaws and/or any other rights Employee has to indemnification and defense as they are not
being released by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee and Employer understand that,
by entering into this Agreement, Employee does not waive rights or claims that may arise after the date of Employee&#8217;s execution
of this Agreement, including without limitation any rights or claims that Employee may have to secure enforcement of the terms and conditions
of this Agreement<FONT STYLE="background-color: white">, and any applicable rights under the Company&#8217;s bylaws to indemnification
and defense for third party actions</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee acknowledges and agrees that
his release of claims prevents him from seeking or recovering any wages, compensation, damages, penalties, costs, fees or monies of any
kind in any class action, representative action or collective action that any individual might file against Employer for matters arising
prior to the execution of this Agreement. Employee further acknowledges and agrees that his release of claims prevents him from bringing
such an action himself or seeking to represent others in such an action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">6.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Affirmations.</U></B> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee affirms that he has not filed, caused to be filed, and is not presently a party
to any claim, complaint, charge or action against Employer in any forum or form, and he agrees that he will not file or initiate any such
claim, complaint, charge or action, class action, collective action, or representative action, nor shall he be entitled to receive any
monies, including penalties, from any claim, complaint, charge or action filed by another person, except that nothing in this Agreement
shall preclude an individual from collecting a government program bounty to which Employee may be entitled. Employee affirms that he currently
is unaware of any claim, right, demand, debt, action, obligation, liability or cause of action that he may have against Employer that
will not be released by this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee further affirms that Employee
has not been retaliated against for reporting any allegations of wrongdoing by Employer or its officers, including any allegations of
corporate fraud.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Both Parties acknowledge that this
Agreement (including Sections regarding Confidentiality, Non-Disparagement, Release of Claims, Cooperation, and Severability) does
not limit either party&#8217;s right, where applicable, to file a charge or communicate with an Agency (as defined below), to
testify, assist, participate, or respond to an inquiry in connection with an investigative proceeding of an Agency, to report a
possible violation of law or regulation to an Agency, or to testify before a legislative body, judicial proceeding, or Agency
regarding alleged criminal conduct or sexual harassment on the part of Employer, its agents or employees. As used herein, Agency
means any federal state, or local government agency (including but not limited to, the federal Equal Employment Opportunity
Commission (&#8220;<U>EEOC</U>&#8221;), the Securities and Exchange Commission (&#8220;<U>SEC</U>&#8221;), and the National Labor
Relations Board (&#8220;<U>NLRB</U>&#8221;)). To the extent permitted by law, Employee agrees that if such an administrative claim
is made, Employee shall not be entitled to recover any individual monetary relief or other individual remedies, except that nothing
in this Agreement shall preclude an individual from collecting a government program bounty to which Employee may be entitled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 6; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Employee further affirms that he has no known workplace injuries or occupational diseases and has been provided and/or has not
been denied any leave requested under the Family and Medical Leave Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee further affirms that he has
been paid or has received all leave (paid or unpaid), compensation (deferred or otherwise), wages (deferred or otherwise), wage statements,
reimbursements, bonuses, housing allowances, benefits or other monies to which he may be entitled and that no other leave (paid or unpaid),
compensation (deferred or otherwise), vacation pay-outs, bonuses and/or benefits are due to him as of the date of execution of this Agreement,
except as provided in this Agreement. Notwithstanding the foregoing, (i) amounts credited in Employee&#8217;s Non-Qualified Deferred Compensation
Account shall be handled and distributed to Employee in accordance with the previous elections he has made thereunder, (ii) Employee is
entitled to salary and benefits that have accrued, but have not been paid or provided, since the payroll period covered by the most recent
bi-weekly wage statement provided to Employee and (iii) Employee may still have outstanding routine business reimbursable expenses, which
should be submitted to the Company promptly in the ordinary course.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee also affirms that Employee
has not divulged any proprietary or confidential information of Employer and will continue to maintain the confidentiality of such information
consistent with Employer's policies and Employee&#8217;s agreement(s) with Employer and/or common law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the Defend Trade Secrets
Act of 2016, an individual may not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint
or other document that is filed under seal in a lawsuit or other proceeding. Further, an individual who files a lawsuit for retaliation
by an employer for reporting a suspected violation of law may disclose the employer's trade secrets to the attorney and use the trade
secret information in the court proceeding if the individual: (a) files any document containing the trade secret under seal; and (b) does
not disclose the trade secret, except pursuant to court order.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">7.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Non-Disparagement and References</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Subject to Section 7(b) below, Employee agrees not to disparage or denigrate Employer or its directors, officers, or managers orally
or in writing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Notwithstanding the foregoing provisions of Section 7, it shall not be a violation of this Section 7: (i) for any person to make
truthful statements when required by order of a court or other body having jurisdiction, or to a professional advisor who is informed
of this Agreement and agrees to keep such information confidential, (ii) to engage in the activities referenced in Section 6(c) of this
Agreement, or (iii) for Employee to disclose factual information related to any claims of sexual assault, sexual harassment, discrimination
based on sex, or retaliation for filing a claim of sexual harassment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(c)<FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Employee shall instruct all prospective employers to contact Employer&#8217;s third party vendor, The WorkNumber, at 800-367-5690,
and use the company code 11495. The WorkNumber shall only provide Employee&#8217;s title and dates of employment. If Employee wishes to
authorize the third party vendor to also provide salary information, Employee will call the third party vendor and grant permission to
share salary information.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in"></P>

<!-- Field: Page; Sequence: 7; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">8.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Cooperation</U>.</B> Employee agrees to reasonably cooperate fully with counsel for the Employer in any third party litigation
and/or agency proceedings that relate to the time period during which Employee was employed by Employer. Said cooperation includes, but
is not limited to, conferring with counsel for Employer upon reasonable request during the course of any such litigation; being reasonably
available to meet with counsel for Employer to prepare for discovery or trial; testifying truthfully as a witness when reasonably requested
and at reasonable times designated by Employer; meeting with counsel or other designated representatives of Employer at reasonable times
and places; and preparing responses to and cooperating with any Employer processing of governmental audits, inspections, inquiries, proceedings
or investigations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 107.5pt">Employer will try, in good faith, to exercise
its rights under this Section so as not to unreasonably interfere with Employee&#8217;s personal schedule or ability to engage in gainful
employment. In the event other commitments prevent Employee from being available to Employer when requested, Employee may decline a request
for cooperation so long as he promptly provides to Employer reasonable alternative dates when he will be available to provide such cooperation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 107.5pt">Employer agrees to reimburse
Employee for any reasonable out-of-pocket expenses that Employee incurs in connection with such cooperation, subject to reasonable documentation.
Employer shall compensate Employee at an hourly rate based on Employee&#8217;s current base salary as of this date for time that Employee
reasonably spends, after the Consulting Period End Date, complying with his obligations as a litigation consultant under this Section,
except that Employer shall not, under any circumstances, compensate Employee for time spent (i) testifying under oath or (ii) responding
to questions from governmental investigators in a capacity as a fact witness.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">9.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT><B><U>Confidentiality and Return of Property, Except As Required By Law</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Employee agrees not to disclose any information regarding the existence or substance of this Agreement, except to his spouse, tax
advisor, and/or an attorney with whom Employee chooses to consult regarding his consideration of this Agreement. Employee also may disclose
such information pursuant to the order of a court or governmental agency of competent jurisdiction, in connection with a charge or complaint
filed with a governmental agency, while engaging in the activities referenced in Section 6(c) of this Agreement, or for purposes of securing
enforcement of the terms and conditions of this Agreement should that ever be necessary. The obligations in the prior two sentences shall
not apply to the extent that Employer publicly discloses, or publicly files, this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 8; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </FONT>All
information and materials to which Employee has or had access to in connection with his employment by Employer (including, without
limitation, personal information of any Employer resident, or former or prospective resident, any financial information or data, any
intellectual property or business plans, any underwriting guidelines or matrices, or any other information proprietary to Employer),
are collectively referred to in this Agreement as &#8220;<U>Confidential Material</U>.&#8221; &#8220;Confidential Material&#8221;
also specifically includes all such information that Employer may have provided to Employee before the date hereof in connection
with his employment. The term &#8220;Confidential Material&#8221; also shall be deemed to include all notes, transcripts, analyses,
compilations, studies, interpretations or other documents prepared by Employee which contain, reflect or are based upon, in whole or
in part, the information and materials furnished or disclosed by Employer in connection with such employment. The term
 &#8220;Confidential Material&#8221; does not include information which (i) is or becomes generally available to the public through
an authorized disclosure, (ii) was within Employee&#8217;s possession prior to Employer disclosing such information to Employee,
provided that the source of such information is not bound by a confidentiality Agreement with or other contractual, legal or
fiduciary obligation of confidentiality to Employer with respect to such information, (iii) becomes available to Employee, provided
that such source is not bound by a confidentiality agreement with or other contractual, legal, or fiduciary obligation of
confidentiality to Employer with respect to such information and/or (iv) consists of documents that are in Employee&#8217;s
personnel file and/or part of his personnel records to the extent required under Massachusetts law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>Employee agrees that the Confidential Material will be kept confidential by Employee and that Employee will not disclose any of
the Confidential Material in any manner except as otherwise permitted by this Agreement; provided, however, that (i) Employee may make
any disclosure of such information to which Employer gives its written consent, (ii) after written notice to and consultation with Employer,
Employee may make such disclosure to the extent required by law, regulation, or legal process, and (iii) before the Retirement Date as
an executive officer of the Company, and after the Retirement Date in providing the Consulting Services, Employee may reasonably disclose
such information to associates or third parties as is customary for the purposes of furthering company business interests.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(d)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>On or before the Retirement Date, (i) Employee will return to Employer all records, correspondence, notes, financial statements,
computer printouts and other documents and recorded material of every nature (including copies thereof) that may be in Employee&#8217;s
possession or control dealing with Confidential Material, or other work product that is proprietary to Employer, including yield matrices,
templates and model documents (and if after the Retirement Date Employee discovers any such material in his possession he will promptly
return such material), and (ii) Employee will return to Employer all other Employer property. Notwithstanding the foregoing, Employee
may copy and keep his electronic contacts, personal electronic files, and address book. Until the Consulting Period End Date, Employee
may also come into possession of, and use for purposes of fulfilling the Consulting Services, Confidential Information related to the
Consulting Services. Employee also affirms that he is in possession of all of his property that Employee had at Employer&#8217;s premises
and that Employer is not in possession of any of his property.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 9; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Non-Compete
and Non-Solicitation</U></B>. Except with respect to your current and future work with Caritas Communities, Inc. (a non-profit
organization assisting Greater Boston residents in need of affordable housing) and except as provided in the last sentence of this
Section 10 with respect to the one (1) year period following the Consulting Period End Date, Employee agrees that during the
Consulting Period and for the one (1) year period following the Consulting Period End Date, Employee will not, without the prior
written consent of the Company, become associated with, or engage in any &#8220;<U>Restricted Activities</U>&#8221; with respect to,
any &#8220;<U>Competing Enterprise</U>,&#8221; as such terms are hereinafter defined, whether as an officer, employee, principal,
partner, agent, consultant, independent contractor or shareholder. Employee further agrees that during Consulting Period and for the
two (2) year period following the Consulting Period End Date, Employee will not, without the prior written consent of Employer,
solicit or attempt to solicit for employment with or on behalf of any Competing Enterprise, or any other organization or enterprise,
any employee of Employer or any of its affiliates or any person who was formerly employed by Employer or any of its affiliates
within the preceding six months, unless such person&#8217;s employment was terminated by Employer or any of such affiliates. You
acknowledge that you agree to the foregoing restrictions in connection with the cessation of your employment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">&#8220;Competing Enterprise,&#8221;
for purposes of this Agreement, shall mean any person, corporation, partnership, venture or other entity which is engaged in the business
of managing, owning, leasing, or joint-venturing multifamily rental real estate within 30 miles of multifamily rental real estate owned
or under management by the Employer or its affiliates. &#8220;Restricted Activities,&#8221; for purposes of this Agreement, shall mean
full time executive, managerial, directorial, administrative, strategic, business development or supervisory responsibilities and activities
relating to any aspects of multifamily rental real estate ownership, management, multifamily rental real estate franchising, and multifamily
rental real estate joint-venturing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">Notwithstanding the foregoing,
it shall not be a violation of this Agreement, and Employee shall not need the prior written consent of Employer, to engage in Restricted
Activities after the Consulting Period End Date that relate to only one or more multifamily communities that each has less than 100 apartment
homes and that is not owned by an entity that is publicly-traded or affiliated with a publicly-traded entity</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">11.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Post-Retirement
Consulting Services</U>. </B>Following the Retirement Date and your retirement as an officer of Employer, you will provide services (the
 &#8220;<U>Consulting Services</U>&#8221;) to Employer as described in this Section 11 until March 31, 2023 unless your business relationship
with Employer terminated on an earlier date as provided in this Section 11 (March 31, 2023 or such earlier date, the &#8220;<U>Consulting
Period End Date</U>&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">The Consulting Services will
consist of assisting and advising the Company (i) in the establishment of its development, investment and operations franchise in
North Carolina and Florida (collectively, the (the &#8220;<U>East Coast Expansion Regions</U>&#8221;), including consultation on
deal terms and advice and counsel to the Company&#8217;s officers and associates, including, if requested, participation in
discussions with the Company&#8217;s Management Investment Committee and (ii) providing such other advice and counsel to the Company
and its officers and associates as may be reasonably requested of you, including with respect to Company matters in other regions
and matters you were in charge of prior to the Retirement Date. In performing the Consulting Services, you shall take direction and
guidance from Benjamin Schall, President. While providing the Consulting Services you may not represent to any third party that you
have authority to act as an agent of Company or otherwise bind the Company to any agreement. At the conclusion of the Consulting
Services, you will return or destroy, and confirm that you have returned or destroyed, all remaining Confidential Material in your
possession.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in"></P>

<!-- Field: Page; Sequence: 10; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">In providing such services, you
agree, at times reasonably and mutually convenient to you and the Company, to provide up to 20% of your pre-retirement working time on
the Consulting Services. The Company will compensate you for the Consulting Services at the rate of $5,000 per month, payable monthly
in arrears promptly following the end of the month or as otherwise required by law or as mutually agreed, subject to any required withholding
taxes, and continued vesting of your long term equity awards as described in Section 3 above and in the applicable award agreements. The
Consulting Services may be provided remotely but if needed you will be required, at times reasonably practicable for you, to travel to
the Company&#8217;s headquarters in Arlington, VA or to the East Coast Expansion Regions. Upon presentation of written receipts or other
customary documentation, to be sent to Benjamin Schall, you will be reimbursed for your reasonable out-of-pocket expenses in providing
the Consulting Services, including travel, but you shall not be paid for the cost of maintaining a home office or related office equipment
or a mobile or landline or for calls on such lines. The Parties reasonably anticipate that the level of Consulting Services shall be no
greater than 20% of the average level of services that Employee previously provided to the Employer prior to the Retirement Date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">In providing the Consulting Services
you will not need to access Company computer systems or maintain an email address with a Company domain name and you shall use your own
office equipment, tools and personal email address, provided that, during the period of the Consulting Services, (i) to assist you in
providing the Consulting Services, the Company may in its discretion permit you to use a Company-issued computer provided it is returned
at the conclusion of the Consulting Services, (ii) the Company will permit you to use an office or workstation, on an as available and
as needed basis, in the Company&#8217;s Boston, MA offices or such other Company office as you may visit with the approval of Mr. Schall
or the regional head of such office, and (iii) you will be provided with a new email address with a Company domain name, provided your
signature appended to the email indicates your work for the Company as a consultant and not as an executive officer, and your prior email
address will have an automatic outgoing response message with appropriate re-direction of the sender to you or the Company..</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">The Consulting Services shall end
before March 1, 2023 upon the happening of any of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(a) your death or your inability
to perform the Consulting Services due to disability;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(b) at your election given with
ten business day advance written notice to AvalonBay, and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">(c) at AvalonBay&#8217;s
election but only for &#8220;<U>Cause</U>&#8221;, which is defined for purposes of this Section 11 to mean either (i) your repeated
failure to perform the Consulting Services when reasonably requested by AvalonBay to do so, provided you are provided ten days
advance written notice setting forth the details of such failure and an opportunity to cure such failure, or (ii) your willful
misconduct, including fraud or actions that are injurious to the reputation and business of AvalonBay, provided you are provided ten
days advance written notice setting forth the details of such willful misconduct. For a termination for Cause under either clauses
(i) or (ii) of the preceding sentence, before such termination is effective you shall have the opportunity to attend a meeting of
AvalonBay&#8217;s Board of Directors, with your counsel and the Company&#8217;s counsel present, and present an opposition to such
termination.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 11; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">12.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Governing
Law and Interpretation</U></B>. This Agreement shall be governed and conformed in accordance with the laws of Massachusetts, which is
the state in which Employee worked at the time of his last day of employment, without regard to its conflict of laws provision. In the
event the Employee or Employer breaches any provision of this Agreement, Employee and Employer affirm that either may institute an action
to specifically enforce any term or terms of this Agreement. In the event of litigation to enforce this Agreement, the prevailing party
shall be entitled to recover the costs and expenses of such litigation, including but not limited to reasonable attorney&#8217;s fees
and costs and all provable damages. TO THE FULLEST EXTENT PERMITTED BY LAW, EACH PARTY HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY WITH
RESPECT TO ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: 1in">13.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Nonadmission
of Wrongdoing</U></B>. The parties agree that neither this Agreement nor the furnishing of the consideration for this Agreement shall
be deemed or construed at any time for any purpose as an admission by Employer of any liability or unlawful conduct of any kind.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">14.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Amendment</U></B>.
This Agreement may not be modified, altered or changed except upon express written consent of both parties wherein specific reference
is made to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">15.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Counterparts</U></B>.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">16.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Severability</U>. </B>Should any part of this Agreement (excluding the general release language) be found to be illegal or
in conflict with the laws of the state in which Employee worked at the time of his last day of employment without regard to its conflict
of laws provision, or otherwise rendered unenforceable or ineffectual, the remaining parts of this Agreement shall be deemed severable
and shall remain in effect so long as the remaining parts continue to constitute in substance the agreement that the Parties intended
to enter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">17.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Revocation</U></B>. Employee may revoke this Agreement for a period of seven business days following the day he executes
this Agreement. Any revocation within this period must be submitted, in writing, to David Alagno, 4040 Wilson Blvd, Suite 1000, Arlington,
VA 22203 and state, &#8220;I hereby revoke my acceptance of our Agreement and General Release.&#8221; The revocation must be personally
delivered to David Alagno or his designee, or mailed to David Alagno and postmarked within seven business days of execution of this Agreement.
Payment of any consideration due under this Agreement shall not be made until the revocation period has expired.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in"></P>

<!-- Field: Page; Sequence: 12; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">18.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Entire
Agreement</U></B>. This Agreement sets forth the entire agreement between the parties hereto, and fully supersedes any prior
agreements or understandings between the parties, except any prior confidentiality, non-competition and non-solicitation agreements
and except for the terms of equity award agreements. Employee acknowledges that he has not relied on any representations, promises,
or agreements of any kind made to him in connection with his decision to accept this Agreement, except for those set forth in this
Agreement. This Agreement is binding on the Company&#8217;s successors and assigns. If Employee dies before receiving all the
consideration stated herein, the balance will be paid to his estate for distribution by his executor, except that (i) the COBRA
subsidy shall only apply to the extent that COBRA coverage continues to apply under applicable law, (ii) the date of
Employee&#8217;s death will be the Consulting Period End Date and no further compensation in consideration of the Consulting
Services shall be paid, and (iii) Employee&#8217;s equity award agreements (restricted stock, performance awards, employee stock
options) will be administered as provided for therein in the event of death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">19.<FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><B><U>Section
409A</U></B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(a)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or
incurred by Employee during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which
the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect
the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year (except for any lifetime or other
aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or
exchange for another benefit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(b)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner
so that all payments hereunder comply with Section 409A of the Code. Each payment pursuant to this Agreement is intended to constitute
a separate payment for purposes of Treasury Regulation Section 1.409A 2(b)(2). The Parties agree that this Agreement may be amended, as
reasonably requested by either party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and
regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: left; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">(c)<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>The Company makes no representation or warranty and shall have no liability to Employee or any other person if any provisions
of this Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption
from, or the conditions of, such Section.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">&nbsp;</P>

<!-- Field: Page; Sequence: 13; Value: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></P></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 1.5in">&nbsp;<B><BR STYLE="clear: both">
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>EMPLOYEE IS HEREBY ADVISED THAT HE HAS UP TO <I>21
CALENDAR DAYS</I> TO REVIEW THIS AGREEMENT AND TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTION OF THIS AGREEMENT. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in"><B>HAVING ELECTED TO EXECUTE THIS AGREEMENT, TO FULFILL
THE PROMISES AND TO RECEIVE THE SUMS AND BENEFITS IN SECTIONS 2 AND 3(a), (b), (c) and (d) ABOVE, EMPLOYEE FREELY AND KNOWINGLY, AND AFTER
DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE INTENDING TO WAIVE, SETTLE AND RELEASE ALL CLAIMS HE HAS OR MIGHT HAVE
AGAINST EMPLOYER, UNLESS SPECIFICALLY STATED OTHERWISE IN THIS AGREEMENT.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">IN WITNESS WHEREOF, the parties hereto knowingly
and voluntarily executed this Agreement as of the date set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="border-bottom: Black 1pt solid; width: 50%">/s/ William M. McLaughlin</TD>
  <TD STYLE="width: 50%">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">William M. McLaughlin</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date: December 16, 2021</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">AVALONBAY COMMUNITIES, INC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify; width: 3%">By: </TD>
  <TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 47%">/s/ Benjamin W. Schall</TD>
  <TD STYLE="text-align: justify; width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify">&nbsp;</TD>
  <TD STYLE="text-align: justify">Benjamin W. Schall, President</TD>
  <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
  <TD STYLE="text-align: justify">&nbsp;</TD>
  <TD STYLE="text-align: justify">Date: December 16, 2021</TD>
  <TD STYLE="text-align: justify">&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<!-- Field: Page; Sequence: 14; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.SCH
<SEQUENCE>3
<FILENAME>avb-20211216.xsd
<DESCRIPTION>XBRL TAXONOMY EXTENSION SCHEMA
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" ?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.10b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
    <!-- Field: Doc-Info; Name: Misc; Value: +aA5w7xRiXgen8uLa3ZcWa+HqbOdzZR+iYkxtmBzbdnKnyUtOVpT3il31LTG8WEB -->
<schema xmlns="http://www.w3.org/2001/XMLSchema" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldt="http://xbrl.org/2005/xbrldt" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:dei="http://xbrl.sec.gov/dei/2021" xmlns:us-gaap="http://fasb.org/us-gaap/2021-01-31" xmlns:srt="http://fasb.org/srt/2021-01-31" xmlns:srt-types="http://fasb.org/srt-types/2021-01-31" xmlns:avb="http://avalonbay.com/20211216" elementFormDefault="qualified" targetNamespace="http://avalonbay.com/20211216">
    <annotation>
      <appinfo>
	<link:roleType roleURI="http://avalonbay.com/role/Cover" id="Cover">
	  <link:definition>00000001 - Document - Cover</link:definition>
	  <link:usedOn>link:presentationLink</link:usedOn>
	  <link:usedOn>link:calculationLink</link:usedOn>
	  <link:usedOn>link:definitionLink</link:usedOn>
	</link:roleType>
	<link:linkbaseRef xlink:type="simple" xlink:href="avb-20211216_pre.xml" xlink:role="http://www.xbrl.org/2003/role/presentationLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Presentation Links" />
	<link:linkbaseRef xlink:type="simple" xlink:href="avb-20211216_lab.xml" xlink:role="http://www.xbrl.org/2003/role/labelLinkbaseRef" xlink:arcrole="http://www.w3.org/1999/xlink/properties/linkbase" xlink:title="Label Links" />
      </appinfo>
    </annotation>
    <import namespace="http://www.xbrl.org/2003/instance" schemaLocation="http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd" />
    <import namespace="http://www.xbrl.org/2003/linkbase" schemaLocation="http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" />
    <import namespace="http://xbrl.sec.gov/dei/2021" schemaLocation="https://xbrl.sec.gov/dei/2021/dei-2021.xsd" />
    <import namespace="http://fasb.org/us-gaap/2021-01-31" schemaLocation="https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd" />
    <import namespace="http://fasb.org/us-types/2021-01-31" schemaLocation="https://xbrl.fasb.org/us-gaap/2021/elts/us-types-2021-01-31.xsd" />
    <import namespace="http://www.xbrl.org/dtr/type/2020-01-21" schemaLocation="https://www.xbrl.org/dtr/type/2020-01-21/types.xsd" />
    <import namespace="http://xbrl.sec.gov/country/2021" schemaLocation="https://xbrl.sec.gov/country/2021/country-2021.xsd" />
    <import namespace="http://fasb.org/srt/2021-01-31" schemaLocation="https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd" />
    <import namespace="http://fasb.org/srt-types/2021-01-31" schemaLocation="https://xbrl.fasb.org/srt/2021/elts/srt-types-2021-01-31.xsd" />
</schema>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>4
<FILENAME>avb-20211216_lab.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION LABEL LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.10b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedLabel" roleURI="http://www.xbrl.org/2009/role/negatedLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodEndLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodEndLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedPeriodStartLabel" roleURI="http://www.xbrl.org/2009/role/negatedPeriodStartLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTotalLabel" roleURI="http://www.xbrl.org/2009/role/negatedTotalLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedNetLabel" roleURI="http://www.xbrl.org/2009/role/negatedNetLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd#negatedTerseLabel" roleURI="http://www.xbrl.org/2009/role/negatedTerseLabel" />
    <link:roleRef xlink:type="simple" xlink:href="http://www.xbrl.org/lrr/role/net-2009-12-16.xsd#netLabel" roleURI="http://www.xbrl.org/2009/role/netLabel" />
    <link:labelLink xlink:type="extended" xlink:role="http://www.xbrl.org/2003/role/link">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CoverAbstract" xlink:label="dei_CoverAbstract" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CoverAbstract" xlink:to="dei_CoverAbstract_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CoverAbstract_lbl" xml:lang="en-US">Cover [Abstract]</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentType" xlink:label="dei_DocumentType" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AmendmentFlag" xlink:label="dei_AmendmentFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AmendmentDescription" xlink:label="dei_AmendmentDescription" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentRegistrationStatement" xlink:label="dei_DocumentRegistrationStatement" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentRegistrationStatement" xlink:to="dei_DocumentRegistrationStatement_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentRegistrationStatement_lbl" xml:lang="en-US">Document Registration Statement</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentAnnualReport" xlink:label="dei_DocumentAnnualReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAnnualReport" xlink:to="dei_DocumentAnnualReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAnnualReport_lbl" xml:lang="en-US">Document Annual Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentQuarterlyReport" xlink:label="dei_DocumentQuarterlyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentQuarterlyReport" xlink:to="dei_DocumentQuarterlyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentQuarterlyReport_lbl" xml:lang="en-US">Document Quarterly Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentTransitionReport" xlink:label="dei_DocumentTransitionReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentTransitionReport" xlink:to="dei_DocumentTransitionReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentTransitionReport_lbl" xml:lang="en-US">Document Transition Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentShellCompanyReport" xlink:label="dei_DocumentShellCompanyReport" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyReport" xlink:to="dei_DocumentShellCompanyReport_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyReport_lbl" xml:lang="en-US">Document Shell Company Report</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentShellCompanyEventDate" xlink:label="dei_DocumentShellCompanyEventDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentShellCompanyEventDate" xlink:to="dei_DocumentShellCompanyEventDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentShellCompanyEventDate_lbl" xml:lang="en-US">Document Shell Company Event Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentPeriodStartDate" xlink:label="dei_DocumentPeriodStartDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodStartDate" xlink:to="dei_DocumentPeriodStartDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodStartDate_lbl" xml:lang="en-US">Document Period Start Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentPeriodEndDate" xlink:label="dei_DocumentPeriodEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentPeriodEndDate" xlink:to="dei_DocumentPeriodEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentPeriodEndDate_lbl" xml:lang="en-US">Document Period End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="dei_DocumentFiscalPeriodFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalPeriodFocus" xlink:to="dei_DocumentFiscalPeriodFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalPeriodFocus_lbl" xml:lang="en-US">Document Fiscal Period Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentFiscalYearFocus" xlink:label="dei_DocumentFiscalYearFocus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentFiscalYearFocus" xlink:to="dei_DocumentFiscalYearFocus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentFiscalYearFocus_lbl" xml:lang="en-US">Document Fiscal Year Focus</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CurrentFiscalYearEndDate" xlink:label="dei_CurrentFiscalYearEndDate" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CurrentFiscalYearEndDate" xlink:to="dei_CurrentFiscalYearEndDate_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CurrentFiscalYearEndDate_lbl" xml:lang="en-US">Current Fiscal Year End Date</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityFileNumber" xlink:label="dei_EntityFileNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFileNumber" xlink:to="dei_EntityFileNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFileNumber_lbl" xml:lang="en-US">Entity File Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityRegistrantName" xlink:label="dei_EntityRegistrantName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCentralIndexKey" xlink:label="dei_EntityCentralIndexKey" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityPrimarySicNumber" xlink:label="dei_EntityPrimarySicNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPrimarySicNumber" xlink:to="dei_EntityPrimarySicNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPrimarySicNumber_lbl" xml:lang="en-US">Entity Primary SIC Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityTaxIdentificationNumber" xlink:label="dei_EntityTaxIdentificationNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityTaxIdentificationNumber" xlink:to="dei_EntityTaxIdentificationNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityTaxIdentificationNumber_lbl" xml:lang="en-US">Entity Tax Identification Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="dei_EntityIncorporationStateCountryCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressAddressLine1" xlink:label="dei_EntityAddressAddressLine1" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressAddressLine2" xlink:label="dei_EntityAddressAddressLine2" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressAddressLine3" xlink:label="dei_EntityAddressAddressLine3" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine3" xlink:to="dei_EntityAddressAddressLine3_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine3_lbl" xml:lang="en-US">Entity Address, Address Line Three</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressCityOrTown" xlink:label="dei_EntityAddressCityOrTown" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressStateOrProvince" xlink:label="dei_EntityAddressStateOrProvince" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressCountry" xlink:label="dei_EntityAddressCountry" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressPostalZipCode" xlink:label="dei_EntityAddressPostalZipCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CountryRegion" xlink:label="dei_CountryRegion" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CountryRegion" xlink:to="dei_CountryRegion_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CountryRegion_lbl" xml:lang="en-US">Country Region</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CityAreaCode" xlink:label="dei_CityAreaCode" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_LocalPhoneNumber" xlink:label="dei_LocalPhoneNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Extension" xlink:label="dei_Extension" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Extension" xlink:to="dei_Extension_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Extension_lbl" xml:lang="en-US">Extension</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_WrittenCommunications" xlink:label="dei_WrittenCommunications" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_WrittenCommunications" xlink:to="dei_WrittenCommunications_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_WrittenCommunications_lbl" xml:lang="en-US">Written Communications</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SolicitingMaterial" xlink:label="dei_SolicitingMaterial" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SolicitingMaterial" xlink:to="dei_SolicitingMaterial_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SolicitingMaterial_lbl" xml:lang="en-US">Soliciting Material</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_PreCommencementTenderOffer" xlink:label="dei_PreCommencementTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementTenderOffer" xlink:to="dei_PreCommencementTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementTenderOffer_lbl" xml:lang="en-US">Pre-commencement Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="dei_PreCommencementIssuerTenderOffer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_PreCommencementIssuerTenderOffer" xlink:to="dei_PreCommencementIssuerTenderOffer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_PreCommencementIssuerTenderOffer_lbl" xml:lang="en-US">Pre-commencement Issuer Tender Offer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Security12bTitle" xlink:label="dei_Security12bTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12bTitle" xlink:to="dei_Security12bTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12bTitle_lbl" xml:lang="en-US">Title of 12(b) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_NoTradingSymbolFlag" xlink:label="dei_NoTradingSymbolFlag" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_NoTradingSymbolFlag" xlink:to="dei_NoTradingSymbolFlag_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_NoTradingSymbolFlag_lbl" xml:lang="en-US">No Trading Symbol Flag</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_TradingSymbol" xlink:label="dei_TradingSymbol" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_TradingSymbol" xlink:to="dei_TradingSymbol_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_TradingSymbol_lbl" xml:lang="en-US">Trading Symbol</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SecurityExchangeName" xlink:label="dei_SecurityExchangeName" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityExchangeName" xlink:to="dei_SecurityExchangeName_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityExchangeName_lbl" xml:lang="en-US">Security Exchange Name</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Security12gTitle" xlink:label="dei_Security12gTitle" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_Security12gTitle" xlink:to="dei_Security12gTitle_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_Security12gTitle_lbl" xml:lang="en-US">Title of 12(g) Security</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SecurityReportingObligation" xlink:label="dei_SecurityReportingObligation" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_SecurityReportingObligation" xlink:to="dei_SecurityReportingObligation_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_SecurityReportingObligation_lbl" xml:lang="en-US">Security Reporting Obligation</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AnnualInformationForm" xlink:label="dei_AnnualInformationForm" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AnnualInformationForm" xlink:to="dei_AnnualInformationForm_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AnnualInformationForm_lbl" xml:lang="en-US">Annual Information Form</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="dei_AuditedAnnualFinancialStatements" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AuditedAnnualFinancialStatements" xlink:to="dei_AuditedAnnualFinancialStatements_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AuditedAnnualFinancialStatements_lbl" xml:lang="en-US">Audited Annual Financial Statements</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="dei_EntityWellKnownSeasonedIssuer" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityWellKnownSeasonedIssuer" xlink:to="dei_EntityWellKnownSeasonedIssuer_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityWellKnownSeasonedIssuer_lbl" xml:lang="en-US">Entity Well-known Seasoned Issuer</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityVoluntaryFilers" xlink:label="dei_EntityVoluntaryFilers" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityVoluntaryFilers" xlink:to="dei_EntityVoluntaryFilers_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityVoluntaryFilers_lbl" xml:lang="en-US">Entity Voluntary Filers</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCurrentReportingStatus" xlink:label="dei_EntityCurrentReportingStatus" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCurrentReportingStatus" xlink:to="dei_EntityCurrentReportingStatus_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCurrentReportingStatus_lbl" xml:lang="en-US">Entity Current Reporting Status</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityInteractiveDataCurrent" xlink:label="dei_EntityInteractiveDataCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityInteractiveDataCurrent" xlink:to="dei_EntityInteractiveDataCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityInteractiveDataCurrent_lbl" xml:lang="en-US">Entity Interactive Data Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityFilerCategory" xlink:label="dei_EntityFilerCategory" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityFilerCategory" xlink:to="dei_EntityFilerCategory_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityFilerCategory_lbl" xml:lang="en-US">Entity Filer Category</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntitySmallBusiness" xlink:label="dei_EntitySmallBusiness" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntitySmallBusiness" xlink:to="dei_EntitySmallBusiness_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntitySmallBusiness_lbl" xml:lang="en-US">Entity Small Business</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityEmergingGrowthCompany" xlink:label="dei_EntityEmergingGrowthCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityExTransitionPeriod" xlink:label="dei_EntityExTransitionPeriod" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Elected Not To Use the Extended Transition Period</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentAccountingStandard" xlink:label="dei_DocumentAccountingStandard" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentAccountingStandard" xlink:to="dei_DocumentAccountingStandard_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentAccountingStandard_lbl" xml:lang="en-US">Document Accounting Standard</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_OtherReportingStandardItemNumber" xlink:label="dei_OtherReportingStandardItemNumber" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_OtherReportingStandardItemNumber" xlink:to="dei_OtherReportingStandardItemNumber_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_OtherReportingStandardItemNumber_lbl" xml:lang="en-US">Other Reporting Standard Item Number</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityShellCompany" xlink:label="dei_EntityShellCompany" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityShellCompany" xlink:to="dei_EntityShellCompany_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityShellCompany_lbl" xml:lang="en-US">Entity Shell Company</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityPublicFloat" xlink:label="dei_EntityPublicFloat" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityPublicFloat" xlink:to="dei_EntityPublicFloat_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityPublicFloat_lbl" xml:lang="en-US">Entity Public Float</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityBankruptcyProceedingsReportingCurrent" xlink:to="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityBankruptcyProceedingsReportingCurrent_lbl" xml:lang="en-US">Entity Bankruptcy Proceedings, Reporting Current</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="dei_EntityCommonStockSharesOutstanding" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCommonStockSharesOutstanding" xlink:to="dei_EntityCommonStockSharesOutstanding_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCommonStockSharesOutstanding_lbl" xml:lang="en-US">Entity Common Stock, Shares Outstanding</link:label>
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock" />
      <link:labelArc xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentsIncorporatedByReferenceTextBlock" xlink:to="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xlink:type="arc" />
      <link:label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentsIncorporatedByReferenceTextBlock_lbl" xml:lang="en-US">Documents Incorporated by Reference [Text Block]</link:label>
    </link:labelLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.PRE
<SEQUENCE>5
<FILENAME>avb-20211216_pre.xml
<DESCRIPTION>XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII" standalone="no"?>
    <!-- Field: Doc-Info; Name: Generator; Value: GoFiler Complete; Version: 5.10b -->
    <!-- Field: Doc-Info; Name: VendorURI; Value: https://www.novaworks.com -->
    <!-- Field: Doc-Info; Name: Status; Value: 0x00000000 -->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xbrli="http://www.xbrl.org/2003/instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd">
    <link:roleRef roleURI="http://avalonbay.com/role/Cover" xlink:href="avb-20211216.xsd#Cover" xlink:type="simple" />
    <link:presentationLink xlink:type="extended" xlink:role="http://avalonbay.com/role/Cover" xlink:title="00000001 - Document - Cover">
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CoverAbstract" xlink:label="loc_deiCoverAbstract" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentType" xlink:label="loc_deiDocumentType" />
      <link:presentationArc order="0" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentType" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AmendmentFlag" xlink:label="loc_deiAmendmentFlag" />
      <link:presentationArc order="10" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AmendmentDescription" xlink:label="loc_deiAmendmentDescription" />
      <link:presentationArc order="20" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAmendmentDescription" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentRegistrationStatement" xlink:label="loc_deiDocumentRegistrationStatement" />
      <link:presentationArc order="30" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentRegistrationStatement" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentAnnualReport" xlink:label="loc_deiDocumentAnnualReport" />
      <link:presentationArc order="40" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAnnualReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentQuarterlyReport" xlink:label="loc_deiDocumentQuarterlyReport" />
      <link:presentationArc order="50" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentQuarterlyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentTransitionReport" xlink:label="loc_deiDocumentTransitionReport" />
      <link:presentationArc order="60" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentTransitionReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentShellCompanyReport" xlink:label="loc_deiDocumentShellCompanyReport" />
      <link:presentationArc order="70" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyReport" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentShellCompanyEventDate" xlink:label="loc_deiDocumentShellCompanyEventDate" />
      <link:presentationArc order="80" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentShellCompanyEventDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentPeriodStartDate" xlink:label="loc_deiDocumentPeriodStartDate" />
      <link:presentationArc order="90" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodStartDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentPeriodEndDate" xlink:label="loc_deiDocumentPeriodEndDate" />
      <link:presentationArc order="100" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentPeriodEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentFiscalPeriodFocus" xlink:label="loc_deiDocumentFiscalPeriodFocus" />
      <link:presentationArc order="110" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalPeriodFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentFiscalYearFocus" xlink:label="loc_deiDocumentFiscalYearFocus" />
      <link:presentationArc order="120" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentFiscalYearFocus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CurrentFiscalYearEndDate" xlink:label="loc_deiCurrentFiscalYearEndDate" />
      <link:presentationArc order="130" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCurrentFiscalYearEndDate" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityFileNumber" xlink:label="loc_deiEntityFileNumber" />
      <link:presentationArc order="140" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFileNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityRegistrantName" xlink:label="loc_deiEntityRegistrantName" />
      <link:presentationArc order="150" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityRegistrantName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCentralIndexKey" xlink:label="loc_deiEntityCentralIndexKey" />
      <link:presentationArc order="160" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCentralIndexKey" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityPrimarySicNumber" xlink:label="loc_deiEntityPrimarySicNumber" />
      <link:presentationArc order="170" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPrimarySicNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityTaxIdentificationNumber" xlink:label="loc_deiEntityTaxIdentificationNumber" />
      <link:presentationArc order="180" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityTaxIdentificationNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityIncorporationStateCountryCode" xlink:label="loc_deiEntityIncorporationStateCountryCode" />
      <link:presentationArc order="190" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityIncorporationStateCountryCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressAddressLine1" xlink:label="loc_deiEntityAddressAddressLine1" />
      <link:presentationArc order="200" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine1" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressAddressLine2" xlink:label="loc_deiEntityAddressAddressLine2" />
      <link:presentationArc order="210" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine2" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressAddressLine3" xlink:label="loc_deiEntityAddressAddressLine3" />
      <link:presentationArc order="220" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressAddressLine3" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressCityOrTown" xlink:label="loc_deiEntityAddressCityOrTown" />
      <link:presentationArc order="230" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCityOrTown" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressStateOrProvince" xlink:label="loc_deiEntityAddressStateOrProvince" />
      <link:presentationArc order="240" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressStateOrProvince" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressCountry" xlink:label="loc_deiEntityAddressCountry" />
      <link:presentationArc order="250" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressCountry" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityAddressPostalZipCode" xlink:label="loc_deiEntityAddressPostalZipCode" />
      <link:presentationArc order="260" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityAddressPostalZipCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CountryRegion" xlink:label="loc_deiCountryRegion" />
      <link:presentationArc order="270" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCountryRegion" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_CityAreaCode" xlink:label="loc_deiCityAreaCode" />
      <link:presentationArc order="280" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiCityAreaCode" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_LocalPhoneNumber" xlink:label="loc_deiLocalPhoneNumber" />
      <link:presentationArc order="290" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiLocalPhoneNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Extension" xlink:label="loc_deiExtension" />
      <link:presentationArc order="300" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiExtension" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_WrittenCommunications" xlink:label="loc_deiWrittenCommunications" />
      <link:presentationArc order="310" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiWrittenCommunications" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SolicitingMaterial" xlink:label="loc_deiSolicitingMaterial" />
      <link:presentationArc order="320" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSolicitingMaterial" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_PreCommencementTenderOffer" xlink:label="loc_deiPreCommencementTenderOffer" />
      <link:presentationArc order="330" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_PreCommencementIssuerTenderOffer" xlink:label="loc_deiPreCommencementIssuerTenderOffer" />
      <link:presentationArc order="340" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiPreCommencementIssuerTenderOffer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Security12bTitle" xlink:label="loc_deiSecurity12bTitle" />
      <link:presentationArc order="350" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12bTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_NoTradingSymbolFlag" xlink:label="loc_deiNoTradingSymbolFlag" />
      <link:presentationArc order="360" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiNoTradingSymbolFlag" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_TradingSymbol" xlink:label="loc_deiTradingSymbol" />
      <link:presentationArc order="370" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiTradingSymbol" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SecurityExchangeName" xlink:label="loc_deiSecurityExchangeName" />
      <link:presentationArc order="380" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityExchangeName" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_Security12gTitle" xlink:label="loc_deiSecurity12gTitle" />
      <link:presentationArc order="390" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurity12gTitle" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_SecurityReportingObligation" xlink:label="loc_deiSecurityReportingObligation" />
      <link:presentationArc order="400" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiSecurityReportingObligation" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AnnualInformationForm" xlink:label="loc_deiAnnualInformationForm" />
      <link:presentationArc order="410" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAnnualInformationForm" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_AuditedAnnualFinancialStatements" xlink:label="loc_deiAuditedAnnualFinancialStatements" />
      <link:presentationArc order="420" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiAuditedAnnualFinancialStatements" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityWellKnownSeasonedIssuer" xlink:label="loc_deiEntityWellKnownSeasonedIssuer" />
      <link:presentationArc order="430" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityWellKnownSeasonedIssuer" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityVoluntaryFilers" xlink:label="loc_deiEntityVoluntaryFilers" />
      <link:presentationArc order="440" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityVoluntaryFilers" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCurrentReportingStatus" xlink:label="loc_deiEntityCurrentReportingStatus" />
      <link:presentationArc order="450" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCurrentReportingStatus" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityInteractiveDataCurrent" xlink:label="loc_deiEntityInteractiveDataCurrent" />
      <link:presentationArc order="460" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityInteractiveDataCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityFilerCategory" xlink:label="loc_deiEntityFilerCategory" />
      <link:presentationArc order="470" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityFilerCategory" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntitySmallBusiness" xlink:label="loc_deiEntitySmallBusiness" />
      <link:presentationArc order="480" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntitySmallBusiness" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityEmergingGrowthCompany" xlink:label="loc_deiEntityEmergingGrowthCompany" />
      <link:presentationArc order="490" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityEmergingGrowthCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityExTransitionPeriod" xlink:label="loc_deiEntityExTransitionPeriod" />
      <link:presentationArc order="500" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityExTransitionPeriod" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentAccountingStandard" xlink:label="loc_deiDocumentAccountingStandard" />
      <link:presentationArc order="510" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentAccountingStandard" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_OtherReportingStandardItemNumber" xlink:label="loc_deiOtherReportingStandardItemNumber" />
      <link:presentationArc order="520" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiOtherReportingStandardItemNumber" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityShellCompany" xlink:label="loc_deiEntityShellCompany" />
      <link:presentationArc order="530" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityShellCompany" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityPublicFloat" xlink:label="loc_deiEntityPublicFloat" />
      <link:presentationArc order="540" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityPublicFloat" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityBankruptcyProceedingsReportingCurrent" xlink:label="loc_deiEntityBankruptcyProceedingsReportingCurrent" />
      <link:presentationArc order="550" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityBankruptcyProceedingsReportingCurrent" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_EntityCommonStockSharesOutstanding" xlink:label="loc_deiEntityCommonStockSharesOutstanding" />
      <link:presentationArc order="560" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiEntityCommonStockSharesOutstanding" xlink:type="arc" />
      <link:loc xlink:type="locator" xlink:href="https://xbrl.sec.gov/dei/2021/dei-2021.xsd#dei_DocumentsIncorporatedByReferenceTextBlock" xlink:label="loc_deiDocumentsIncorporatedByReferenceTextBlock" />
      <link:presentationArc order="570" xlink:arcrole="http://www.xbrl.org/2003/arcrole/parent-child" xlink:from="loc_deiCoverAbstract" xlink:to="loc_deiDocumentsIncorporatedByReferenceTextBlock" xlink:type="arc" />
    </link:presentationLink>
</link:linkbase>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>6
<FILENAME>tm2135400d1_8k_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2021"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xlink="http://www.w3.org/1999/xlink">
    <link:schemaRef xlink:href="avb-20211216.xsd" xlink:type="simple"/>
    <context id="From2021-12-16to2021-12-16">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0000915912</identifier>
        </entity>
        <period>
            <startDate>2021-12-16</startDate>
            <endDate>2021-12-16</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="Shares">
        <measure>shares</measure>
    </unit>
    <unit id="USDPShares">
        <divide>
            <unitNumerator>
                <measure>iso4217:USD</measure>
            </unitNumerator>
            <unitDenominator>
                <measure>shares</measure>
            </unitDenominator>
        </divide>
    </unit>
    <dei:EntityCentralIndexKey contextRef="From2021-12-16to2021-12-16">0000915912</dei:EntityCentralIndexKey>
    <dei:AmendmentFlag contextRef="From2021-12-16to2021-12-16">false</dei:AmendmentFlag>
    <dei:DocumentType contextRef="From2021-12-16to2021-12-16">8-K</dei:DocumentType>
    <dei:DocumentPeriodEndDate contextRef="From2021-12-16to2021-12-16">2021-12-16</dei:DocumentPeriodEndDate>
    <dei:EntityRegistrantName contextRef="From2021-12-16to2021-12-16">AVALONBAY COMMUNITIES, INC.</dei:EntityRegistrantName>
    <dei:EntityFileNumber contextRef="From2021-12-16to2021-12-16">1-12672</dei:EntityFileNumber>
    <dei:EntityIncorporationStateCountryCode contextRef="From2021-12-16to2021-12-16">MD</dei:EntityIncorporationStateCountryCode>
    <dei:EntityTaxIdentificationNumber contextRef="From2021-12-16to2021-12-16">77-0404318</dei:EntityTaxIdentificationNumber>
    <dei:EntityAddressAddressLine1 contextRef="From2021-12-16to2021-12-16">4040 Wilson Blvd. Suite 1000</dei:EntityAddressAddressLine1>
    <dei:EntityAddressCityOrTown contextRef="From2021-12-16to2021-12-16">Arlington</dei:EntityAddressCityOrTown>
    <dei:EntityAddressStateOrProvince contextRef="From2021-12-16to2021-12-16">VA</dei:EntityAddressStateOrProvince>
    <dei:EntityAddressPostalZipCode contextRef="From2021-12-16to2021-12-16">22203</dei:EntityAddressPostalZipCode>
    <dei:CityAreaCode contextRef="From2021-12-16to2021-12-16">703</dei:CityAreaCode>
    <dei:LocalPhoneNumber contextRef="From2021-12-16to2021-12-16">329-6300</dei:LocalPhoneNumber>
    <dei:WrittenCommunications contextRef="From2021-12-16to2021-12-16">false</dei:WrittenCommunications>
    <dei:SolicitingMaterial contextRef="From2021-12-16to2021-12-16">false</dei:SolicitingMaterial>
    <dei:PreCommencementTenderOffer contextRef="From2021-12-16to2021-12-16">false</dei:PreCommencementTenderOffer>
    <dei:PreCommencementIssuerTenderOffer contextRef="From2021-12-16to2021-12-16">false</dei:PreCommencementIssuerTenderOffer>
    <dei:Security12bTitle contextRef="From2021-12-16to2021-12-16">Common Stock, par value $0.01 per share</dei:Security12bTitle>
    <dei:TradingSymbol contextRef="From2021-12-16to2021-12-16">AVB</dei:TradingSymbol>
    <dei:SecurityExchangeName contextRef="From2021-12-16to2021-12-16">NYSE</dei:SecurityExchangeName>
    <dei:EntityEmergingGrowthCompany contextRef="From2021-12-16to2021-12-16">false</dei:EntityEmergingGrowthCompany>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>7
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.21.2</span><table class="report" border="0" cellspacing="2" id="idm139841339029032">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Cover<br></strong></div></th>
<th class="th"><div>Dec. 16, 2021</div></th>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CoverAbstract', window );"><strong>Cover [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">8-K<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentPeriodEndDate', window );">Document Period End Date</a></td>
<td class="text">Dec. 16,  2021<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityFileNumber', window );">Entity File Number</a></td>
<td class="text">1-12672<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">AVALONBAY COMMUNITIES, INC.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0000915912<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityTaxIdentificationNumber', window );">Entity Tax Identification Number</a></td>
<td class="text">77-0404318<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">MD<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">4040 Wilson Blvd. Suite 1000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Arlington<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">VA<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">22203<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">703<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">329-6300<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_WrittenCommunications', window );">Written Communications</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SolicitingMaterial', window );">Soliciting Material</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementTenderOffer', window );">Pre-commencement Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_PreCommencementIssuerTenderOffer', window );">Pre-commencement Issuer Tender Offer</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_Security12bTitle', window );">Title of 12(b) Security</a></td>
<td class="text">Common Stock, par value $0.01 per share<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_TradingSymbol', window );">Trading Symbol</a></td>
<td class="text">AVB<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_SecurityExchangeName', window );">Security Exchange Name</a></td>
<td class="text">NYSE<span></span>
</td>
</tr>
<tr class="re">
<td class="pl " style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">false<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CoverAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Cover page.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CoverAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentPeriodEndDate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentPeriodEndDate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:dateItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityFileNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityFileNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:fileNumberItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityTaxIdentificationNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Regulation 12B<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityTaxIdentificationNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:employerIdItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementIssuerTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 13e<br> -Subsection 4c<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementIssuerTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_PreCommencementTenderOffer">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 14d<br> -Subsection 2b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_PreCommencementTenderOffer</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_Security12bTitle">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Title of a 12(b) registered security.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_Security12bTitle</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SecurityExchangeName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the Exchange on which a security is registered.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection d1-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SecurityExchangeName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarExchangeCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_SolicitingMaterial">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Section 14a<br> -Number 240<br> -Subsection 12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_SolicitingMaterial</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_TradingSymbol">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Trading symbol of an instrument as listed on an exchange.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_TradingSymbol</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:tradingSymbolItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_WrittenCommunications">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 425<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_WrittenCommunications</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EXCEL
<SEQUENCE>8
<FILENAME>Financial_Report.xlsx
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 Financial_Report.xlsx
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M<6A4"H[<8R6,<6*T_C6"R0_L?@!02P,$%     @ BH604ZK$(A8S 0  (@(
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M%S?W1:[-XPFNWPQP>'3^ 5!+ P04    " "*A9!399!YDAD!  #/ P  $P
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MKP   &1O8U!R;W!S+V-O<F4N>&UL4$L! A0#%     @ BH604YE<G",0!@
MG"<  !,              ( !S $  'AL+W1H96UE+W1H96UE,2YX;6Q02P$"
M% ,4    " "*A9!3HE6-FS@$   [$   &               @($-"   >&PO
M=V]R:W-H965T<R]S:&5E=#$N>&UL4$L! A0#%     @ BH604Y^@&_"Q @
MX@P   T              ( !>PP  'AL+W-T>6QE<RYX;6Q02P$"% ,4
M" "*A9!3EXJ[',     3 @  "P              @ %7#P  7W)E;',O+G)E
M;'-02P$"% ,4    " "*A9!3JL0B%C,!   B @  #P              @ %
M$   >&PO=V]R:V)O;VLN>&UL4$L! A0#%     @ BH604R0>FZ*M    ^ $
M !H              ( !H!$  'AL+U]R96QS+W=O<FMB;V]K+GAM;"YR96QS
M4$L! A0#%     @ BH604V60>9(9 0  SP,  !,              ( !A1(
J %M#;VYT96YT7U1Y<&5S72YX;6Q02P4&      D "0 ^ @  SQ,

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
..report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

..report table.authRefData a {
	display: block;
	font-weight: bold;
}

..report table.authRefData p {
	margin-top: 0px;
}

..report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

..report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

..report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

..report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
..pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
..report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

..report hr {
	border: 1px solid #acf;
}

/* Top labels */
..report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

..report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

..report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

..report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

..report td.pl div.a {
	width: 200px;
}

..report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
..report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
..report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
..report .re, .report .reu {
	background-color: #def;
}

..report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
..report .ro, .report .rou {
	background-color: white;
}

..report .rou td {
	border-bottom: 1px solid black;
}

..report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
..report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
..report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

..report .nump {
	padding-left: 2em;
}

..report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
..report .text {
	text-align: left;
	white-space: normal;
}

..report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

..report .text .more {
	display: none;
}

..report .text .note {
	font-style: italic;
	font-weight: bold;
}

..report .text .small {
	width: 10em;
}

..report sup {
	font-style: italic;
}

..report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.21.2</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>1</ContextCount>
  <ElementCount>96</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>0</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>3</UnitCount>
  <MyReports>
    <Report instance="tm2135400d1_8k.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>00000001 - Document - Cover</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://avalonbay.com/role/Cover</Role>
      <ShortName>Cover</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="8-K" original="tm2135400d1_8k.htm">tm2135400d1_8k.htm</File>
    <File>avb-20211216.xsd</File>
    <File>avb-20211216_lab.xml</File>
    <File>avb-20211216_pre.xml</File>
    <File>tm2135400d1_ex1-1.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy>http://xbrl.sec.gov/dei/2021</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>true</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>13
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "instance": {
  "tm2135400d1_8k.htm": {
   "axisCustom": 0,
   "axisStandard": 0,
   "contextCount": 1,
   "dts": {
    "inline": {
     "local": [
      "tm2135400d1_8k.htm"
     ]
    },
    "labelLink": {
     "local": [
      "avb-20211216_lab.xml"
     ]
    },
    "presentationLink": {
     "local": [
      "avb-20211216_pre.xml"
     ]
    },
    "schema": {
     "local": [
      "avb-20211216.xsd"
     ],
     "remote": [
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "https://xbrl.sec.gov/dei/2021/dei-2021.xsd",
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd",
      "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd",
      "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd",
      "https://xbrl.fasb.org/us-gaap/2021/elts/us-gaap-2021-01-31.xsd",
      "https://www.xbrl.org/2020/extensible-enumerations-2.0.xsd",
      "http://www.xbrl.org/2006/ref-2006-02-27.xsd",
      "https://xbrl.fasb.org/us-gaap/2021/elts/us-types-2021-01-31.xsd",
      "https://xbrl.fasb.org/srt/2021/elts/srt-types-2021-01-31.xsd",
      "https://xbrl.fasb.org/srt/2021/elts/srt-2021-01-31.xsd",
      "https://xbrl.sec.gov/country/2021/country-2021.xsd",
      "https://xbrl.fasb.org/srt/2021/elts/srt-roles-2021-01-31.xsd",
      "https://xbrl.fasb.org/us-gaap/2021/elts/us-roles-2021-01-31.xsd"
     ]
    }
   },
   "elementCount": 59,
   "entityCount": 1,
   "hidden": {
    "http://xbrl.sec.gov/dei/2021": 2,
    "total": 2
   },
   "keyCustom": 0,
   "keyStandard": 96,
   "memberCustom": 0,
   "memberStandard": 0,
   "nsprefix": "avb",
   "nsuri": "http://avalonbay.com/20211216",
   "report": {
    "R1": {
     "firstAnchor": {
      "ancestors": [
       "span",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm2135400d1_8k.htm",
      "contextRef": "From2021-12-16to2021-12-16",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     },
     "groupType": "document",
     "isDefault": "true",
     "longName": "00000001 - Document - Cover",
     "role": "http://avalonbay.com/role/Cover",
     "shortName": "Cover",
     "subGroupType": "",
     "uniqueAnchor": {
      "ancestors": [
       "span",
       "p",
       "body",
       "html"
      ],
      "baseRef": "tm2135400d1_8k.htm",
      "contextRef": "From2021-12-16to2021-12-16",
      "decimals": null,
      "first": true,
      "lang": "en-US",
      "name": "dei:DocumentType",
      "reportCount": 1,
      "unique": true,
      "unitRef": null,
      "xsiNil": "false"
     }
    }
   },
   "segmentCount": 0,
   "tag": {
    "dei_AmendmentDescription": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Description of changes contained within amended document.",
        "label": "Amendment Description"
       }
      }
     },
     "localname": "AmendmentDescription",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "stringItemType"
    },
    "dei_AmendmentFlag": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.",
        "label": "Amendment Flag"
       }
      }
     },
     "localname": "AmendmentFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AnnualInformationForm": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing an annual information form.",
        "label": "Annual Information Form"
       }
      }
     },
     "localname": "AnnualInformationForm",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_AuditedAnnualFinancialStatements": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag with value true on a form if it is an annual report containing audited financial statements.",
        "label": "Audited Annual Financial Statements"
       }
      }
     },
     "localname": "AuditedAnnualFinancialStatements",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_CityAreaCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Area code of city",
        "label": "City Area Code"
       }
      }
     },
     "localname": "CityAreaCode",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CountryRegion": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Region code of country",
        "label": "Country Region"
       }
      }
     },
     "localname": "CountryRegion",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_CoverAbstract": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Cover page.",
        "label": "Cover [Abstract]"
       }
      }
     },
     "localname": "CoverAbstract",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "xbrltype": "stringItemType"
    },
    "dei_CurrentFiscalYearEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "End date of current fiscal year in the format --MM-DD.",
        "label": "Current Fiscal Year End Date"
       }
      }
     },
     "localname": "CurrentFiscalYearEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "gMonthDayItemType"
    },
    "dei_DocumentAccountingStandard": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The basis of accounting the registrant has used to prepare the financial statements included in this filing This can either be 'U.S. GAAP', 'International Financial Reporting Standards', or 'Other'.",
        "label": "Document Accounting Standard"
       }
      }
     },
     "localname": "DocumentAccountingStandard",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "accountingStandardItemType"
    },
    "dei_DocumentAnnualReport": {
     "auth_ref": [
      "r9",
      "r11",
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an annual report.",
        "label": "Document Annual Report"
       }
      }
     },
     "localname": "DocumentAnnualReport",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentFiscalPeriodFocus": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Fiscal period values are FY, Q1, Q2, and Q3.  1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.",
        "label": "Document Fiscal Period Focus"
       }
      }
     },
     "localname": "DocumentFiscalPeriodFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "fiscalPeriodItemType"
    },
    "dei_DocumentFiscalYearFocus": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "This is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.",
        "label": "Document Fiscal Year Focus"
       }
      }
     },
     "localname": "DocumentFiscalYearFocus",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "gYearItemType"
    },
    "dei_DocumentPeriodEndDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period.  The format of the date is YYYY-MM-DD.",
        "label": "Document Period End Date"
       }
      }
     },
     "localname": "DocumentPeriodEndDate",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentPeriodStartDate": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The start date of the period covered in the document, in YYYY-MM-DD format.",
        "label": "Document Period Start Date"
       }
      }
     },
     "localname": "DocumentPeriodStartDate",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentQuarterlyReport": {
     "auth_ref": [
      "r10"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as an quarterly report.",
        "label": "Document Quarterly Report"
       }
      }
     },
     "localname": "DocumentQuarterlyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentRegistrationStatement": {
     "auth_ref": [
      "r18"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a registration statement.",
        "label": "Document Registration Statement"
       }
      }
     },
     "localname": "DocumentRegistrationStatement",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentShellCompanyEventDate": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Date of event requiring a shell company report.",
        "label": "Document Shell Company Event Date"
       }
      }
     },
     "localname": "DocumentShellCompanyEventDate",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "dateItemType"
    },
    "dei_DocumentShellCompanyReport": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true for a Shell Company Report pursuant to section 13 or 15(d) of the Exchange Act.",
        "label": "Document Shell Company Report"
       }
      }
     },
     "localname": "DocumentShellCompanyReport",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentTransitionReport": {
     "auth_ref": [
      "r13"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a form used as a transition report.",
        "label": "Document Transition Report"
       }
      }
     },
     "localname": "DocumentTransitionReport",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_DocumentType": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.",
        "label": "Document Type"
       }
      }
     },
     "localname": "DocumentType",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "submissionTypeItemType"
    },
    "dei_DocumentsIncorporatedByReferenceTextBlock": {
     "auth_ref": [
      "r1"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Documents incorporated by reference.",
        "label": "Documents Incorporated by Reference [Text Block]"
       }
      }
     },
     "localname": "DocumentsIncorporatedByReferenceTextBlock",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "textBlockItemType"
    },
    "dei_EntityAddressAddressLine1": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 1 such as Attn, Building Name, Street Name",
        "label": "Entity Address, Address Line One"
       }
      }
     },
     "localname": "EntityAddressAddressLine1",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine2": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 2 such as Street or Suite number",
        "label": "Entity Address, Address Line Two"
       }
      }
     },
     "localname": "EntityAddressAddressLine2",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressAddressLine3": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Address Line 3 such as an Office Park",
        "label": "Entity Address, Address Line Three"
       }
      }
     },
     "localname": "EntityAddressAddressLine3",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCityOrTown": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the City or Town",
        "label": "Entity Address, City or Town"
       }
      }
     },
     "localname": "EntityAddressCityOrTown",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressCountry": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "ISO 3166-1 alpha-2 country code.",
        "label": "Entity Address, Country"
       }
      }
     },
     "localname": "EntityAddressCountry",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "countryCodeItemType"
    },
    "dei_EntityAddressPostalZipCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Code for the postal or zip code",
        "label": "Entity Address, Postal Zip Code"
       }
      }
     },
     "localname": "EntityAddressPostalZipCode",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityAddressStateOrProvince": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the state or province.",
        "label": "Entity Address, State or Province"
       }
      }
     },
     "localname": "EntityAddressStateOrProvince",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "stateOrProvinceItemType"
    },
    "dei_EntityBankruptcyProceedingsReportingCurrent": {
     "auth_ref": [
      "r4"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "For registrants involved in bankruptcy proceedings during the preceding five years, the value Yes indicates that the registrant has filed all documents and reports required to be filed by Section 12, 13 or 15(d) of the Securities Exchange Act of 1934 subsequent to the distribution of securities under a plan confirmed by a court; the value No indicates the registrant has not.  Registrants not involved in bankruptcy proceedings during the preceding five years should not report this element.",
        "label": "Entity Bankruptcy Proceedings, Reporting Current"
       }
      }
     },
     "localname": "EntityBankruptcyProceedingsReportingCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityCentralIndexKey": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.",
        "label": "Entity Central Index Key"
       }
      }
     },
     "localname": "EntityCentralIndexKey",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "centralIndexKeyItemType"
    },
    "dei_EntityCommonStockSharesOutstanding": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.",
        "label": "Entity Common Stock, Shares Outstanding"
       }
      }
     },
     "localname": "EntityCommonStockSharesOutstanding",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "sharesItemType"
    },
    "dei_EntityCurrentReportingStatus": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Current Reporting Status"
       }
      }
     },
     "localname": "EntityCurrentReportingStatus",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityEmergingGrowthCompany": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate if registrant meets the emerging growth company criteria.",
        "label": "Entity Emerging Growth Company"
       }
      }
     },
     "localname": "EntityEmergingGrowthCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityExTransitionPeriod": {
     "auth_ref": [
      "r17"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.",
        "label": "Elected Not To Use the Extended Transition Period"
       }
      }
     },
     "localname": "EntityExTransitionPeriod",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityFileNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.",
        "label": "Entity File Number"
       }
      }
     },
     "localname": "EntityFileNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "fileNumberItemType"
    },
    "dei_EntityFilerCategory": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.",
        "label": "Entity Filer Category"
       }
      }
     },
     "localname": "EntityFilerCategory",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "filerCategoryItemType"
    },
    "dei_EntityIncorporationStateCountryCode": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Two-character EDGAR code representing the state or country of incorporation.",
        "label": "Entity Incorporation, State or Country Code"
       }
      }
     },
     "localname": "EntityIncorporationStateCountryCode",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "edgarStateCountryItemType"
    },
    "dei_EntityInteractiveDataCurrent": {
     "auth_ref": [
      "r15"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).",
        "label": "Entity Interactive Data Current"
       }
      }
     },
     "localname": "EntityInteractiveDataCurrent",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityPrimarySicNumber": {
     "auth_ref": [
      "r12"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Primary Standard Industrial Classification (SIC) Number for the Entity.",
        "label": "Entity Primary SIC Number"
       }
      }
     },
     "localname": "EntityPrimarySicNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "sicNumberItemType"
    },
    "dei_EntityPublicFloat": {
     "auth_ref": [],
     "crdr": "credit",
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The aggregate market value of the voting and non-voting common equity held by non-affiliates computed by reference to the price at which the common equity was last sold, or the average bid and asked price of such common equity, as of the last business day of the registrant's most recently completed second fiscal quarter.",
        "label": "Entity Public Float"
       }
      }
     },
     "localname": "EntityPublicFloat",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "monetaryItemType"
    },
    "dei_EntityRegistrantName": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.",
        "label": "Entity Registrant Name"
       }
      }
     },
     "localname": "EntityRegistrantName",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_EntityShellCompany": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.",
        "label": "Entity Shell Company"
       }
      }
     },
     "localname": "EntityShellCompany",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntitySmallBusiness": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicates that the company is a Smaller Reporting Company (SRC).",
        "label": "Entity Small Business"
       }
      }
     },
     "localname": "EntitySmallBusiness",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_EntityTaxIdentificationNumber": {
     "auth_ref": [
      "r14"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.",
        "label": "Entity Tax Identification Number"
       }
      }
     },
     "localname": "EntityTaxIdentificationNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "employerIdItemType"
    },
    "dei_EntityVoluntaryFilers": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.",
        "label": "Entity Voluntary Filers"
       }
      }
     },
     "localname": "EntityVoluntaryFilers",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_EntityWellKnownSeasonedIssuer": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Indicate 'Yes' or 'No' if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A.",
        "label": "Entity Well-known Seasoned Issuer"
       }
      }
     },
     "localname": "EntityWellKnownSeasonedIssuer",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "yesNoItemType"
    },
    "dei_Extension": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Extension number for local phone number.",
        "label": "Extension"
       }
      }
     },
     "localname": "Extension",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_LocalPhoneNumber": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Local phone number for entity.",
        "label": "Local Phone Number"
       }
      }
     },
     "localname": "LocalPhoneNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "normalizedStringItemType"
    },
    "dei_NoTradingSymbolFlag": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true only for a security having no trading symbol.",
        "label": "No Trading Symbol Flag"
       }
      }
     },
     "localname": "NoTradingSymbolFlag",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_OtherReportingStandardItemNumber": {
     "auth_ref": [
      "r11"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "\"Item 17\" or \"Item 18\" specified when the basis of accounting is neither US GAAP nor IFRS.",
        "label": "Other Reporting Standard Item Number"
       }
      }
     },
     "localname": "OtherReportingStandardItemNumber",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "otherReportingStandardItemNumberItemType"
    },
    "dei_PreCommencementIssuerTenderOffer": {
     "auth_ref": [
      "r5"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.",
        "label": "Pre-commencement Issuer Tender Offer"
       }
      }
     },
     "localname": "PreCommencementIssuerTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_PreCommencementTenderOffer": {
     "auth_ref": [
      "r6"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.",
        "label": "Pre-commencement Tender Offer"
       }
      }
     },
     "localname": "PreCommencementTenderOffer",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_Security12bTitle": {
     "auth_ref": [
      "r0"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Title of a 12(b) registered security.",
        "label": "Title of 12(b) Security"
       }
      }
     },
     "localname": "Security12bTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_Security12gTitle": {
     "auth_ref": [
      "r3"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Title of a 12(g) registered security.",
        "label": "Title of 12(g) Security"
       }
      }
     },
     "localname": "Security12gTitle",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "securityTitleItemType"
    },
    "dei_SecurityExchangeName": {
     "auth_ref": [
      "r2"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Name of the Exchange on which a security is registered.",
        "label": "Security Exchange Name"
       }
      }
     },
     "localname": "SecurityExchangeName",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "edgarExchangeCodeItemType"
    },
    "dei_SecurityReportingObligation": {
     "auth_ref": [
      "r7"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "15(d), indicating whether the security has a reporting obligation under that section of the Exchange Act.",
        "label": "Security Reporting Obligation"
       }
      }
     },
     "localname": "SecurityReportingObligation",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "securityReportingObligationItemType"
    },
    "dei_SolicitingMaterial": {
     "auth_ref": [
      "r8"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.",
        "label": "Soliciting Material"
       }
      }
     },
     "localname": "SolicitingMaterial",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    },
    "dei_TradingSymbol": {
     "auth_ref": [],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Trading symbol of an instrument as listed on an exchange.",
        "label": "Trading Symbol"
       }
      }
     },
     "localname": "TradingSymbol",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "tradingSymbolItemType"
    },
    "dei_WrittenCommunications": {
     "auth_ref": [
      "r16"
     ],
     "lang": {
      "en-us": {
       "role": {
        "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.",
        "label": "Written Communications"
       }
      }
     },
     "localname": "WrittenCommunications",
     "nsuri": "http://xbrl.sec.gov/dei/2021",
     "presentation": [
      "http://avalonbay.com/role/Cover"
     ],
     "xbrltype": "booleanItemType"
    }
   },
   "unitCount": 3
  }
 },
 "std_ref": {
  "r0": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b"
  },
  "r1": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-23"
  },
  "r10": {
   "Name": "Form 10-Q",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "308",
   "Subsection": "a"
  },
  "r11": {
   "Name": "Form 20-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "220",
   "Subsection": "f"
  },
  "r12": {
   "Name": "Form 40-F",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "240",
   "Subsection": "f"
  },
  "r13": {
   "Name": "Forms 10-K, 10-Q, 20-F",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13",
   "Subsection": "a-1"
  },
  "r14": {
   "Name": "Regulation 12B",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r15": {
   "Name": "Regulation S-T",
   "Number": "232",
   "Publisher": "SEC",
   "Section": "405"
  },
  "r16": {
   "Name": "Securities Act",
   "Number": "230",
   "Publisher": "SEC",
   "Section": "425"
  },
  "r17": {
   "Name": "Securities Act",
   "Number": "7A",
   "Publisher": "SEC",
   "Section": "B",
   "Subsection": "2"
  },
  "r18": {
   "Name": "Securities Act",
   "Number": "Section",
   "Publisher": "SEC",
   "Section": "12"
  },
  "r2": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "d1-1"
  },
  "r3": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12",
   "Subsection": "g"
  },
  "r4": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "12, 13, 15d"
  },
  "r5": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "13e",
   "Subsection": "4c"
  },
  "r6": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14d",
   "Subsection": "2b"
  },
  "r7": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "15",
   "Subsection": "d"
  },
  "r8": {
   "Name": "Exchange Act",
   "Number": "240",
   "Publisher": "SEC",
   "Section": "14a",
   "Subsection": "12"
  },
  "r9": {
   "Name": "Form 10-K",
   "Number": "249",
   "Publisher": "SEC",
   "Section": "310"
  }
 },
 "version": "2.1"
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>14
<FILENAME>0001104659-21-150559-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001104659-21-150559-xbrl.zip
M4$L#!!0    ( (J%D%-H+5J;,P,  .T+   0    879B+3(P,C$Q,C$V+GAS
M9+56VW+:,!!];F?Z#ZI?,_(%)FE"()E<FI0I:3J06_O2D6U!-)$E1Y*YY.LK
M^08!0X"T/$F[YYS=E79EFL?CB((A%I)PUK(\V[4 9@$/"1NTK-L>/.F=M=L6
M.#[Z]!'H7_,SA.""8!HVP#D/8)OU^2'X@2+< )>888$4%X?@#M'$6/@%H5B
M,Q[%%"NL'5FD!MBU/=<'$*ZA>X=9R,5MMUWJ/BH5RX;CC$8CF_$A&G'Q).V
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MG>JEJ%X!6JEGQ,HJT.^J$I378OO]\OJF:_E);M:;Y%\KG!*YY;]02P,$%
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M(X(R'E(=R14MSV=E=<MSG=FL==(42)=V7(;K:[&2C(IIX$A+%V ^@,(  +]
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M7!2M>?F:N&DQDLPTM75G=J%-K-OA/,%,"@&^LX:9R/B:E&L9&$4,PBN"UBG
ML',"GP<I@ZT^<)X"ZB1-#6Y%)MRBXAE>@7JURG^MDFCUBKPN]/W2@_V<7RIB
M'0PCTTJ4:&]182.M !5#U-PB!Q-6(QHMHA)IB"-IPE3_L+4W4(_)*E'+-(W,
ME\S S-?HJ+"H @O6(R'TR$4\E'81W)V,T=Z*ENG4^.,09.<XSV S-X(LR?+7
M"!E81H_>"0P18@M9V$^9YI779?$F,&29O@J<5A'G(77GF6NH*V&<OP/=1]=
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MN]"I:W:3#8B814[=S=(1=ID$!IP0W.MAEF[LQ05V6QF+8;( &^W!:]R-@(&
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M%SE>\+ +VCGF,*/Z;OJQWK*E?>OF/1,&7(&;:05][<=W6@W_ I:"%T>G&;[
MVT=!AT7_+%Y'>#341\V]]E)JB1$M!,5,2T.WSR$EK*3P+C8,SU'0Z>Y\%^BN
M!A9Z3VCDATM3;IM&+K4QV<PI=)34$!&&5NIN>;]9->&DMKYX37K'2%)-.9&
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M'K-+C>/.TS7S9/CKNGKZH0Z1BO$\3.8=QX%G'6%A=!XEV4QW#"JJ&9IO148
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M1K +'6 5$?8N<GY?G"X <X/9&87:R\ZN?*[PHB((U!1KK1=LEC@#XA%>2DF
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M? +V]%1MTY^>K/GKG@*5#/X3,";^6KBN^CM'7P:>,J3P'B9P\">]\7\/C_Z
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M8BTR,#(Q,3(Q-BYX<V102P$"% ,4    " "*A9!3V<>GZOT*  " A@  %
M            @ %A P  879B+3(P,C$Q,C$V7VQA8BYX;6Q02P$"% ,4
M" "*A9!37X%^H58'  #65P  %               @ &0#@  879B+3(P,C$Q
M,C$V7W!R92YX;6Q02P$"% ,4    " "*A9!3J.].@I08  #7<@  $@
M        @ $8%@  =&TR,3,U-# P9#%?.&LN:'1M4$L! A0#%     @ BH60
M4VJ.@2L11   CVX! !4              ( !W"X  '1M,C$S-30P,&0Q7V5X
=,2TQ+FAT;5!+!08     !0 % $4!   @<P     !

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
