MAA · 10-Q · 2026Q3 · Full report

Revenue Performance and Mix

MID AMERICA APARTMENT COMMUNITIES INC. · 2026-10-29 · Importance 25 · Surprise 32 · In source text

For the three months ended September 30, 2026, property revenue increased 1.0% to $560.1 million from $554.4 million, while nine-month property revenue rose 0.9% to $1.669 billion from $1.654 billion. Same Store revenue declined 0.4% to $519.1 million for the quarter and 0.3% to $1.553 billion for the nine-month period; quarterly average effective rent per unit fell 0.1% to $1,691 and average physical occupancy decreased to 95.3% from 95.6%. Non-Same Store and Other revenue increased 23.1% to $41.1 million for the quarter and 22.0% to $115.5 million for the nine months, primarily reflecting completed development units and recently acquired communities.

Key facts

• MAA Same Store property revenue was $519.068 million for the three months ended September 30, 2026, down $1.952 million or 0.4% from 2025.
• MAA total property revenue was $560.130 million for the three months ended September 30, 2026, up $5.757 million or 1.0% from 2025.
• MAA Same Store property revenue was $1,553.486 million for the nine months ended September 30, 2026, down $5.400 million or 0.3% from 2025.
• MAA total property revenue was $1,668.982 million for the nine months ended September 30, 2026, up $15.412 million or 0.9% from 2025.
• MAA Non-Same Store and Other property revenue was $115.496 million for the nine months ended September 30, 2026, up $20.812 million or 22.0% from 2025.
• MAA Non-Same Store and Other property revenue was $41.062 million for the three months ended September 30, 2026, up $7.709 million or 23.1% from 2025.
• MAA's revenues increased 1.0% for the three months ended September 30, 2026 compared with the same period in 2025.
• MAA Same Store revenue declined 0.4% in the three months ended September 30, 2026, primarily driven by average physical occupancy and average effective rent per unit.

Impact estimates