MAA · 8-K · 20260804PR332847

Occupancy and Leasing Activity

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-08-04 · Importance 25 · Surprise 32 · In source text

Stabilized occupancy in MAA markets recovered to 95% in June 2026 after remaining below 93% for much of 2024, supported by slowing deliveries and healthy absorption. Same-store blended lease-over-lease pricing improved from negative 0.3% in the first quarter to positive 0.7% in the second quarter, while renewal pricing was 5.2% in the second quarter. Trailing-12-month resident turnover reached a record-low 39.6%, and 98% of expected third-quarter renewals had been accepted at approximately 5% or more through July 2026.

Key facts

• Through July 2026, 98% of 3Q 2026 expected renewals accepted at ~5%+ source
• Renewal rates expected to be maintained at +5% through September source
• Two consecutive quarters (1Q 2026 to 2Q 2026) blended lease-over-lease pricing change improved from -0.3% to 0.7% (1Q 2026 -0.3%; 2Q 2026 0.7%) and average daily physical occupancy 1Q 95.5% to 2Q 95.3% source
• Trailing 12-month turnover at a record low 39.6% as of report source
• Average Physical Occupancy represents the average of the daily physical occupancy for an applicable period. source
• Resident turnover represents resident move outs excluding transfers within the Same Store Portfolio as a percentage of expiring leases on a trailing twelve month basis as of the end of the reported quarter. source

Impact estimates