Realty Income - Press Release

REALTY INCOME REPORTS RECORD SECOND QUARTER OPERATING RESULTS

ESCONDIDO, CALIFORNIA, July 25, 2002—Realty Income Corporation (Realty Income), The Monthly Dividend Company™, (NYSE: O) today announced operating results for the second quarter and six months ended June 30, 2002.

COMPANY HIGHLIGHTS:
(For the three months ended June 30, 2002)

Revenue increased 17.3% to $33.9 million
Funds from Operations (FFO) increased 26.4% to $23.0 million
FFO per common share increased 7.8% to $0.69
Portfolio occupancy was 98.4%
Same store rents increased 1.5% to $27.32 million
The Company invested $79.0 million in 88 additional properties at a 10.4% lease rate
The common stock monthly dividend amount was increased for the 19th consecutive quarter
The annualized dividend amount was increased to $2.31 per share from $2.295 per share
Realty Income paid its 383rd consecutive monthly dividend through June 2002
The Company will begin to expense stock options in 2002, which is anticipated to have minimal impact on future earnings

Financial Results

Revenue Increases
Realty Income's revenue for the second quarter ended June 30, 2002 increased 17.3% to $33.9 million as compared to $28.9 million for the same quarter ended June 30, 2001.

Revenue for the six months ended June 30, 2002 increased 12.3% to $66.7 million from $59.4 million for the same period in 2001.

Funds from Operations
FFO for the quarter ended June 30, 2002 increased 26.4% to $23.0 million as compared to $18.2 million for the same quarter in 2001. On a diluted per common share basis, FFO increased 7.8% to $0.69 per share compared to $0.64 per share for the same period in 2001.

FFO for the six months ended June 30, 2002 increased 26.8% to $45.4 million as compared to $35.8 million for the same period one year ago. On a diluted per common share basis, FFO increased 5.4% to $1.37 per share from $1.30 per share for the same period in 2001.

FFO is a widely used measure of REIT performance that excludes non-cash charges for the depreciation of real estate and gains on sales of investment properties. FFO is one measure of a company's cash flow and of its ability to pay dividends.

Net Income Available to Common Stockholders
Net income available to common stockholders for the quarter ended June 30, 2002 increased to $16.0 million as compared to $11.0 million for the same period in 2001. On a diluted per common share basis, net income was $0.48 per share as compared to $0.39 per share for the three months ended June 30, 2001.

The calculation to determine net income for a real estate company includes gains and losses from the sale of investment properties. The amount of gains and losses varies from quarter to quarter according to the timing of property sales. This variance can significantly impact net income.

Excluding the gain on sales of investment properties and income from discontinued operations during the second quarter of each year, income from continuing operations available to common stockholders increased by $0.08 to $0.44 per share in 2002 as compared to $0.36 per share for the same quarter in 2001, on a diluted per common share basis.

Net income available to common stockholders for the six months ended June 30, 2002 increased to $31.9 million as compared to $27.1 million for the same period in 2001. On a diluted per common share basis, net income decreased to $0.96 per share as compared to $0.98 per share for the same period one year ago.

Excluding the gain on sales of investment properties and income from discontinued operations during the first six months of each year, income from continuing operations available to common stockholders increased by $0.17 to $0.87 per share in 2002 as compared to $0.70 per share for the same period in 2001, on a diluted per common share basis.

Dividend Information
In June 2002, Realty Income announced the 19th consecutive quarterly increase in the amount of the monthly dividend on its common stock. This marked the 21st increase in the amount of the dividend since 1995. The amount of the monthly dividend was increased to $0.1925 per share from $0.19125 per share. This represents an annualized dividend amount of $2.31 per share. The Company continues its 33-year history of declaring and paying common stock dividends on a monthly basis.

Real Estate Portfolio Update

As of June 30, 2002 Realty Income's portfolio of freestanding, single-tenant retail properties consisted of 1,199 properties located in 48 states, leased to 81 retail chains doing business in 24 retail industries. The properties are leased under long-term, triple-net leases with a weighted average remaining lease term of approximately 10.7 years.

Portfolio Management Activities
The Company's portfolio of retail real estate owned under 15- to 20-year net leases continues to perform well and provide dependable lease revenue supporting the payment of monthly dividends. As of June 30, 2002, Realty Income's portfolio occupancy was 98.4% with only 19 properties available for lease out or 1,199 properties in the portfolio.

Same store rents on 951 properties under lease during the three months ended June 30, 2002 and 2001 increased 1.5% to $27.32 million from $26.91 million in 2001. Same store rents on 951 properties under lease during the six months ended June 30, 2002 and 2001 increased 1.8% to $54.75 million compared to $53.76 million in 2001.

Property Acquisitions
During the second quarter ended June 30, 2002, Realty Income invested $79.0 million in 88 new properties and properties under development with an initial contractual lease yield of 10.4%. The new properties are located in 23 different states and are 100% leased with an initial average lease length of 20 years. They are leased to four different retail chains in the automotive service, convenience store and restaurant industries.

During the six months ended June 30, 2002, the Company invested $86.8 million in 91 new properties and properties under development with an initial contractual lease yield of 10.4%. The new properties are located in 24 different states and are 100% leased with an initial average lease length of 19.9 years. They are leased to seven different retail chains in the automotive service, convenience store, office supply, restaurant and shoe store industries.

Property Dispositions
During the second quarter Realty Income continued to execute its asset disposition program. The objective of the program is to sell assets when the Company believes the reinvestment of the sales proceeds will generate higher returns, enhance the credit quality of the Company's real estate portfolio or increase the average lease length. During the quarter ended June 30, 2002, Realty Income sold 10 properties for $3.8 million and recorded a gain on sales of $1.3 million. The properties consisted of six childcare facilities, three restaurants and one racquetball facility. The proceeds were used to pay down the Company's acquisition credit facility and invest in new properties. Through June 30, 2002, Realty Income sold 16 properties for $7.2 million and recorded a gain on sales of $2.4 million. The properties consisted of seven childcare facilities, eight restaurants and one racquetball facility. In accordance with Generally Accepted Accounting Principles (GAAP), these gains are included in Income from Discontinued Operations on the Consolidated Income Statement.

Other Activities

Issuance of Common Stock
On July 19, 2002, Realty Income issued 1.55 million shares of common stock priced at $33.40 per share. The net offering proceeds of approximately $49 million were used to repay a portion of the amount outstanding on the Company's $200 million unsecured acquisition credit facility, which funded the acquisition of $86.8 million in additional properties during the first half of 2002.

Crest Net Lease
Crest Net Lease Inc., a subsidiary of Realty Income, is focused on acquiring and subsequently marketing net-leased properties for sale. During the second quarter ended June 30, 2002, Crest sold eight properties for $9.0 million and reported a gain on sales of $1.1 million. During the quarter Crest also invested $987,000 in properties under development.

For the six months ended June 30, 2002, Crest sold 11 properties for $11.7 million and reported a gain on sales of $1.5 million. During this same period Crest invested $3.8 million in two new properties and properties under development. As of June 30, 2002, Crest carried an inventory of $15.9 million in properties held for sale.

Management believes that Crest will carry an average inventory of between $20 to $25 million in properties. The subsidiary generates an earnings spread on the difference between the lease payments it receives on the properties held in inventory and the cost of the capital used to acquire the properties. It is management's belief that at this level of inventory these earnings will more than cover the ongoing operating expenses of Crest. The contribution to Realty Income's FFO by Crest depends on the timing and the number of property sales achieved, if any, in a given quarter. During the second quarter and first half of 2002, Crest generated $0.03 and $0.04, respectively, per diluted common share in FFO for Realty Income.

CEO Comments on Mid-Year Operating Results

Commenting on Realty Income's financial results and real estate operations, Tom A. Lewis, Chief Executive Officer, stated, "We are delighted with our operating results for the first half of the year. Our portfolio of 1,199 properties remains extremely healthy with occupancy at 98.4% and a weighted average remaining lease length of 10.7 years. Both revenue and FFO per share were higher as a result of continued increases in our same store rents and acquisitions we made during the second half of 2001. The market for acquisitions, in our freestanding, net-lease retail niche, remains strong as demonstrated by the purchase of just over $86 million in new properties so far this year. By acquiring additional properties and increasing the size of our real estate portfolio, the lease revenue supporting the payment of dividends has continued to increase, allowing us to raise the amount of the dividend for 19 consecutive quarters. So far this year we have increased the dividend two times and have now paid 383 consecutive monthly dividends to our shareholders.

"Dividend safety is also critical to our shareholders. Our commitment to maintaining a conservative balance sheet, stable real estate performance and a high occupancy rate is fundamental to achieving this important shareholder objective. We are pleased with the continued positive performance of our real estate portfolio during challenging economic times, and attribute this to the fact that the majority of our retailers provide goods and services, at low price points, that satisfy basic consumer needs.

"A final area worth noting is the success of our subsidiary, Crest Net Lease. Since Crest was formed just two years ago, it turned profitable within the first six months and has consistently contributed to Realty Income's FFO growth. While Crest's contribution to FFO is difficult to predict on a quarter to quarter basis, we have been very gratified with the success of Crest and are pleased to note that Crest contributed $.04 per share to Realty Income's FFO per share during the first six months of 2002.

"We are fortunate that, as The Monthly Dividend Company™, we have continued to offer a dependable source of monthly income to our shareholders throughout market swings and economic uncertainties. We are also fortunate, in today's reporting environment, to run a straightforward business with fairly simple and easy to understand financial statements. In keeping with Realty Income's transparent reporting practices we will be expensing the fair value of future stock option grants rather than using the typical disclosure in footnotes to the financial statements. We believe this is a fair and forthright way to present the impact of any future option grants and the financial impact of those grants will be obvious to shareholders."

2002 Earnings Commentary

Realty Income's funds from operations tend to be stable and fairly predictable because of the long-term leases that are the primary source of the Company's revenue. There are, however, several factors that can impact changes in FFO per share from levels that have been anticipated by the Company. These factors include, but are not limited to, changes in interest rates, occupancy rates, periodically accessing the capital markets, the level of property acquisitions and dispositions, lease rollovers and the operations of Crest Net Lease.

2002 Estimates
Management estimates that FFO per common share for 2002 will be approximately $2.80 per share, which would equate to an increase of approximately 5.3% over 2001 FFO per share of $2.66.

Management estimates Crest Net Lease, Inc. will generate between $0.06 to $0.08 per share of FFO during 2002. Crest's primary business is the purchase and sale of properties at a profit. These sales may occur at various times during the course of the year, which could cause FFO in certain quarters to increase or decrease from normal levels.

The Company does not intend to provide quarterly estimates of FFO. Absent changes in annual FFO guidance, at the end of each quarter, it may be presumed that the Company's overall estimate for the year has not changed.

Forward-Looking Statements

Statements in this press release, which are not strictly historical, are "forward-looking" statements. Forward-looking statements involve known and unknown risks, which may cause the Company's actual future results to differ materially from expected results. These risks include, among others, general economic conditions, local real estate conditions, the availability of capital to finance planned growth and the profitability of the Company's subsidiary, Crest Net Lease, as described in the Company's filings with the Securities and Exchange Commission. Consequently, such forward-looking statements should be regarded solely as reflections of the Company's current operating plans and estimates. Actual operating results may differ materially from what is expressed or forecast in this press release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date these statements were made.

Realty Income is The Monthly Dividend Company™, a New York Stock Exchange real estate company dedicated to providing shareholders with dependable monthly income. As of June 30, 2002, the Company had paid 383 consecutive monthly dividend payments throughout its 33-year operating history. The monthly income is supported by the cash flows from 1,199 retail properties owned under long-term lease agreements with leading regional and national retail chains. The Company is an active buyer of net-leased retail properties nationwide.

Note to Editors:

Realty Income press releases are available at no charge by calling our toll-free investor hotline number: 888-811-2001, or via the internet at http://www.realtyincome.com/Investing/News.html

CONSOLIDATED STATEMENTS OF INCOME

For three and six months and ended June 30, 2002 and 2001 (dollars in thousands, except per share amounts)
(unaudited)

	Three Months Ended 6/30/02	Three Months Ended 6/30/01	Six Months Ended 6/30/02	Six Months Ended 6/30/01

REVENUE
Rental	$ 32,724	$ 28,552	$ 65,160	$ 57,025
Gain on sales of real estate aquired for resale	1,126	161	1,491	2,089
Interest and other	51	179	83	306

	33,901	28,892	66,734	59,420

EXPENSES
Interest	5,803	6,587	11,408	14,646
Depreciation and amortization	7,421	6,906	14,683	13,865
General and administrative	2,348	1,866	4,737	3,906
Property	622	556	1,243	1,164
Other	598	240	886	1,020
Provision for impairment loss	--	200	--	530

	16,792	16,355	32,957	35,131

Income from continuing operations	17,109	12,537	33,777	24,289
Income from discontinued operations	1,336	775	2,622	1,545
Gain on sales of investment properties	--	164	340	6,115

Net Income	18,445	13,476	36,739	31,949
Preferred stock dividends	(2,428)	(2,428)	(4,856)	(4,856)

Net income available to common stockholders	$ 16,017	$ 11,048	$ 31,883	$ 27,093

Funds from operations (FFO)	$ 22,987	$ 18,214	$ 45,370	$ 35,820
Per share information for common stockholders:
FFO
Basic	$ 0.69	$ 0.64	$ 1.37	$ 1.30
Diluted	0.69	0.64	1.37	1.30
Income from continuing operations
Basic	0.44	0.36	0.87	0.71
Diluted	0.44	0.36	0.87	0.70
Net Income
Basic	0.48	0.39	0.96	0.98
Diluted	0.48	0.39	0.96	0.98
Cash dividends paid	0.574	0.559	1.144	1.114

Segmentation by Category

FUNDS FROM operations
For the three and six months ended June 30, 2002 and 2001
(dollars in thousands, except per share amounts)

Three Months Ended
6/30/02

Three Months Ended
6/30/01

Six
Months Ended
6/30/02

Six
Months Ended
6/30/01

Net income available to
   common stockholders $ 16,017 $ 11,048 $ 31,883 $ 27,093

Depreciation and amortization:

   Continuing operations 7,421 6,906 14,683 13,865

   Discontinued operations 218 252 460 503

Depreciation of furniture,
   fixtures and equipment (34) (28) (67) (56)

Provision for impairment loss:

   Continuing operations -- 200 -- 530

   Discontinued operations 670 -- 830 --

Gain on sales of investment
   properties:

   Continuing operations -- (164) (340) (6,115)

   Discontinued operations (1,305) -- (2,079) --

Funds from operations $ 22,987 $ 18,214 $ 45,370 $ 35,820

Dividends paid to
   common stockholders $ 19,114 $ 15,419 $ 37,934 $ 30,189

FFO in excess of dividends $ 3,873 $ 2,795 $ 7,436 $ 5,631

Basic and diluted
   FFO per common share $ 0.69 $ 0.64 $ 1.37 $ 1.30

Weighted average number of
   common shares used for:

   Basic per share
       computation 33,310,413 28,393,227 33,178,176 27,507,539

   Diluted per share
       computation 33,368,359 28,468,992 33,230,817 27,565,500

FUNDS FROM operations GENERATED BY CREST NET LEASE
For the three and six months ended June 30, 2002 and 2001
(dollars in thousands, except per share amounts)

Gains from the sales of real
   estate acquired for resale $ 1,126 $ 161 $ 1,491 $ 2,089

Rent and other revenue 481 354 956 786

Interest expense (144) (171) (219) (454)

General and administrative exp. (88) (73) (284) (278)

Property expenses -- -- (42) --

Income taxes (474) (127) (638) (784)

Minority interest -- (3) -- (56)

Funds from operations
   contributed by Crest Net $ 901 $ 141 $ 1,264 $ 1,303

Basic and diluted
   FFO per common share $ 0.03 $ 0.01 $ 0.04 $ 0.05

CONSOLIDATED BALANCE SHEETS
As of June 30, 2002 and December 31, 2001
(dollars in thousands, except per share amounts)

2002
2001

ASSETS

Real estate, at cost:

    Land $ 436,907 $ 412,455

    Buildings and improvements 792,244 765,707

1,229,151 1,178,162

    Less accumulated depreciation and
       amortization (233,736) (233,848)

    Net real estate held for investment 995,415 944,314

    Real estate held for sale, net 32,706 23,356

    Net real estate 1,028,121 967,670

Cash and cash equivalents 21,242 2,467

Accounts receivable 3,284 4,857

Goodwill, net 17,206 17,206

Other assets 10,467 11,508

     Total assets $ 1,080,320 $ 1,003,708

LIABILITIES AND STOCKHOLDERS' EQUITY

Distributions payable $    8,296 $    6,238

Accounts payable and accrued expenses 5,578 5,834

Other liabilities 4,118 4,543

Lines of credit payable 155,800 85,300

Notes payable 230,000 230,000

    Total liabilities 403,792 331,915

Stockholders’ equity:
Preferred stock and paid in capital, par
    value $1.00 per share, 20,000,000
    shares authorized, 4,125,700 shares
    issued and outstanding 99,368 99,368

Common stock and paid in capital, par
    value $1.00 per share, 100,000,000
    shares authorized, 33,319,389 and
    32,829,111 shares issued and
    outstanding in 2002 and 2001,
    respectively 806,467 795,505

Distributions in excess of net income (229,307) (223,080)

    Total stockholders’ equity 676,528 671,793

    Total liabilities and stockholders’ equity $ 1,080,320 $ 1,003,708

Industry Diversifcation

The following table sets forth certain information regarding our properties classified according to the business of the respective tenants, expressed as a percentage of our total rental revenue:

Annualized Rent as of June 30, 2002⁽²⁾ Percentage of Rental Revenue⁽¹⁾
For the Years Ended

Industry
Dec 31, 2001

Dec 31, 2000

Dec 31, 1999

Dec 31, 1998

Dec 31, 1997

Dec 31, 1996

Dec 31, 1995

Apparel Stores 2.2% 2.4% 2.4% 3.8% 4.1% 0.7% --% --%

Automotive Parts 7.5 8.3 8.3 8.6 7.8 9.1 10.5 11.4

Automotive Service 8.1 5.7 5.8 6.6 7.5 6.4 4.8 3.7

Book Stores 0.4 0.4 0.5 0.5 0.6 0.5 -- --

Business Services 0.1 0.1 0.1 0.1 * -- -- --

Child Care 20.4 23.9 24.7 25.3 29.2 35.9 42.0 45.6

Consumer Electronics 3.3 4.0 4.9 4.4 5.4 6.5 0.9 --

Convenience Stores 9.6 8.4 8.4 7.2 6.1 5.5 4.6 2.4

Crafts and Novelties 0.4 0.4 0.4 0.4 * -- -- --

Drug Stores 0.2 0.2 0.2 0.2 0.1 -- -- --

Entertainment 1.8 1.8 2.0 1.2 -- -- -- --

General Merchandise 0.5 0.6 0.6 0.6 * -- -- --

Grocery Stores 0.5 0.6 0.6 0.5 * -- -- --

Health and Fitness 3.9 3.6 2.4 0.6 0.1 -- -- --

Home Furnishings 5.5 6.0 5.8 6.5 7.8 5.6 4.4 2.9

Home Improvement 1.1 1.3 2.0 3.6 * -- -- --

Office Supplies 2.0 2.2 2.3 2.6 3.0 1.7 -- --

Pet Supplies and Services 1.7 1.6 1.5 1.1 0.6 0.2 -- --

Private Education 1.2 1.5 1.4 1.2 0.9 -- -- --

Restaurants 13.4 12.2 12.3 13.3 16.2 19.8 24.4 24.7

Shoe Stores 0.9 0.7 0.8 1.1 0.8 0.2 -- --

Sporting Goods 4.0 0.9 -- -- -- -- -- --

Theaters 3.7 4.3 2.7 0.6 -- -- -- --

Video Rental 3.3 3.7 3.9 4.3 3.8 0.6 -- --

Other 4.3 5.2 6.0 5.7 6.0 7.3 8.4 9.3

Totals 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% 100.0%

* Less than 0.1%
(1) The table does not include properties owned by our subsidiary, Crest Net Lease.
(2) Annualized Rent is calculated by multiplying the monthly contractual base rent as of June 30, 2002 for each of the properties by 12, and adding the previous 12 month's historic percentage rent on properties owned at June 30, 2002, which totaled $1.7 million (i.e., percentage rent is calculated as a percentage of the tenants' gross sales above a specified level). For the properties under construction, an estimated contractual base rent is used based upon the estimated total costs of each property.

Segmentation by Category

The following table sets forth certain information regarding properties owned by Realty Income at June 30, 2002, classified according to the retail business types and the level of services they provide (dollars in thousands):

(As of June 30, 2002)

Industry
Number of Properties (1) Annualized
Rent (1)(2) Percentage of Annualized Rent

TENANTS PROVIDING SERVICES

Automotive Service 176 $ 11,533 8.2 %

Child Care 320 28,618 20.4

Entertainment 8 2,564 1.8

Health and Fitness 8 5,455 3.9

Private Education 5 1,738 1.3

Theaters 10 5,209 3.7

Other 8 6,021 4.3

535 61,138 43.6

TENANTS SELLING GOODS AND SERVICES

Automotive Parts (with
installation) 65 6,066 4.3

Business Services 1 124 0.1

Convenience Stores 114 13,545 9.6

Home Improvement 2 187 0.1

Pet Supplies and Services 6 1,561 1.1

Restaurants 223 18,752 13.4

Video Rental 34 4,577 3.3

445 44,812 31.9

TENANTS SELLING GOODS

Apparel Stores 5 3,103 2.2

Automotive Parts 75 4,347 3.1

Book Stores 2 606 0.4

Consumer Electronics 36 4,660 3.3

Crafts and Novelties 2 517 0.4

Drug Stores 1 235 0.2

General Merchandise 11 687 0.5

Grocery Stores 2 726 0.5

Home Furnishings 43 7,737 5.5

Home Improvement 13 1,377 1.0

Office Supplies 9 2,846 2.0

Pet Supplies 4 761 0.5

Shoe Stores 5 1,221 0.9

Sporting Goods 11 5,584 4.0

219 34,407 24.5

Totals 1,199 $ 140,357 100.0 %

(1) The table does not include properties owned by our subsidiary, Crest Net Lease.
(2) Annualized Rent is calculated by multiplying the monthly contractual base rent as of June 30, 2002 for each of the properties by 12, and adding the previous 12 month's historic percentage rent on properties owned at June 30, 2002, which totaled $1.7 million (i.e., percentage rent is calculated as a percentage of the tenants' gross sales above a specified level). For the properties under construction, an estimated contractual base rent is used based upon the estimated total costs of each property.

The following table sets forth certain information regarding the timing of the initial lease term expirations (excluding extension options) on our 1,175 net leased, single-tenant retail properties as of June 30, 2002 (dollars in thousands):

Year
Number of
Leases
Expiring(1) Annualized
Rent(1)(2) Percentage
of Annualized
Rent

2002 71 $ 6,231 4.6 %

2003 79 6,797 5.0

2004 116 10,013 7.4

2005 84 6,619 4.9

2006 75 6,740 5.0

2007 94 6,541 4.9

2008 63 5,673 4.2

2009 28 2,526 1.9

2010 43 3,812 2.8

2011 35 5,312 3.9

2012 50 5,995 4.4

2013 70 12,348 9.2

2014 35 6,287 4.7

2015 35 4,186 3.1

2016 14 1,497 1.1

2017 14 4,691 3.5

2018 16 1,988 1.5

2019 49 8,246 6.1

2020 10 3,664 2.7

2021 96 14,746 10.9

2022 89 8,244 6.1

2023 2 341 0.3

2026 2 372 0.3

2033 2 1,118 0.8

2034 3 879 0.7

Totals 1,175 $134,866 100.0 %

(1) This table does not include five multi-tenant properties and 19 vacant, unleased single-tenant properties owned by the Company and properties owned by our subsidiary, Crest Net Lease. The lease expirations for properties under construction are based on the estimated date of completion of such properties.
(2) Annualized rent is calculated by multiplying the monthly contractual base rent as of June 30, 2002 for each of the properties by 12 and adding the previous 12 month's historic percentage rent on properties owned at June 30, 2002, which totaled $1.7 million (i.e., percentage rent is calculated as a percentage of the tenants' gross sales above a specified level). For the properties under construction, an estimated contractual base rent is used based upon the estimated total costs of each property.

Geographic Diversifcation

(As of June 30, 2002)

State
Number of Properties (1)

Percent Leased

Approximate Leasable Square Feet

Annualized Rent (1)(2)

Percent of Annualized Rent

Alabama 15 93% 142,600 $1,391 1.0%

Alaska 2 100 128,500 1,003 0.7%

Arizona 35 97 248,800 3,947 2.8%

Arkansas 8 100 48,800 916 0.7%

California 61 98 1,024,200 14,496 10.3%

Colorado 44 100 272,400 4,235 3.0%

Connecticut 16 100 245,600 3,705 2.6%

Delaware 1 100 5,400 72 0.1

Florida 92 95 1,163,500 15,223 10.8%

Georgia 67 99 466,800 6,611 4.7%

Idaho 11 100 52,000 770 0.5%

Illinois 41 100 322,200 4,547 3.2%

Indiana 30 97 169,500 2,172 1.5%

Iowa 10 100 67,600 702 0.5%

Kansas 21 100 190,000 2,209 1.6%

Kentucky 13 100 43,600 1,157 0.8%

Louisiana 7 100 47,100 723 0.5%

Maryland 14 100 113,700 2,369 1.7%

Massachusetts 30 100