ALEXANDRIA, Va.----AvalonBay Communities, Inc. reported today that Net Income Available to Common Stockholders for the quarter ended September 30, 2008 was $231,406,000. This resulted in Earnings per Share - diluted of $2.98 for the quarter ended September 30, 2008, compared to $1.58 for the comparable period of 2007, a per share increase of 88.6%.