MAA · 8-K · 20260804PR332847

Capital Expenditure Program

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-08-04 · Importance 68 · Surprise 42 · In source text

MAA expects 2026 unit redevelopment spending of $45 million to $55 million and plans to upgrade 6,400 to 7,400 units at an average per-unit cost of $5,500 to $6,500. The property repositioning program has a 2026 spending range of $16 million to $20 million and six projects are expected to start in the second half of 2026. The ubiquitous Wi-Fi program has a 2026 spending range of $20 million to $24 million and is expected to begin 38 additional installations, while 2026 development funding is guided to $300 million to $400 million.

Key facts

• 2026 FULL YEAR GUIDANCE midpoint: Ubiquitous Wi‑Fi Program expected to start 38 additional new installations in 2026 with $22M midpoint spend (range $20M … $22M … $24M) source
• 2026F Annualized cash return for Unit Redevelopment Program: +20% (2026 YTD annualized cash return 25.6% shown) source
• Unit Redevelopment Program production (units) in 2026F expected 6,400 – 7,400 units source
• Unit Redevelopment Program average per unit cost expected in 2026F: $5,500 – $6,500 source
• 2026 FULL YEAR GUIDANCE midpoint capital spend initiatives: Unit Redevelopment Program $50M (range $45M … $50M … $55M) source
• 2026 FULL YEAR GUIDANCE midpoint capital spend: Property Repositioning Program $18M (range $16M … $18M … $20M) source
• Company generated $1.5M revenue through ongoing wi-fi initiative expansion through 2Q 2026 source
• Core Adjusted Funds from Operations (Core AFFO) is composed of Core FFO less recurring capital expenditures. source

Impact estimates