MAA · 8-K · 20260804PR332847

Supply and Demand Trends

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-08-04 · Importance 17 · Surprise 24

Multifamily starts in MAA markets remained below the long-term average for 13 consecutive quarters, with trailing-twelve-month starts at 1.9% of existing units. New-supply deliveries are expected to decline from approximately 3.0% of inventory, with further reductions anticipated from 2026 through 2028 as the effect of lower starts emerges after a 2–2.5-year lag. MAA markets continued to benefit from in-migration, with at least 11% of move-ins coming from non-MAA states, while residents relocating out of MAA markets represented only 4%–5% of move-outs.

Key facts

• Occupancy for MAA markets recovered back to 95% as of June 2026 (was below 93% for much of 2024) source
• Multifamily starts have stayed below the long-term average for 13 consecutive quarters in MAA markets source
• Median House Price in MAA Markets is $426K as of 6/30/2026 source
• Estimated mortgage payment weekly earnings increase in MAA Markets for 2026: 5.5% (2026 Forecasted Weekly Earnings Increase) source
• Non-Same Store and Other NOI includes storm-related expenses related to severe weather events, including hurricanes and winter storms. source