MAA · 10-Q · 2026Q3 · Full report
Property Operating Expense Trends
MID AMERICA APARTMENT COMMUNITIES INC. · 2026-10-29 · Importance 25 · Surprise 32 · In source text
Total property operating expenses, excluding depreciation and amortization, increased 2.9% to $222.3 million in the third quarter of 2026 and 2.3% to $646.6 million for the first nine months. Same Store expenses rose 2.0% to $203.0 million for the quarter and 1.4% to $592.5 million for the nine months; quarterly increases included utilities of $2.0 million, building repairs and maintenance of $1.4 million, and marketing of $1.0 million. Non-Same Store and Other expenses increased 13.7% to $19.2 million for the quarter and 13.8% to $54.0 million for the nine months, primarily due to completed development units and recently acquired communities.
Key facts
- MAA Same Store property operating expenses were $203.029 million for the three months ended September 30, 2026, up $3.888 million or 2.0% from 2025.
- MAA total property operating expenses were $222.268 million for the three months ended September 30, 2026, up $6.204 million or 2.9% from 2025.
- MAA Same Store property operating expenses were $592.532 million for the nine months ended September 30, 2026, up $7.943 million or 1.4% from 2025.
- MAA total property operating expenses were $646.560 million for the nine months ended September 30, 2026, up $14.489 million or 2.3% from 2025.
- MAA Non-Same Store and Other property operating expenses were $19.239 million for the three months ended September 30, 2026, up $2.316 million or 13.7% from 2025.
- MAA Non-Same Store and Other property operating expenses were $54.028 million for the nine months ended September 30, 2026, up $6.546 million or 13.8% from 2025.
- MAA property management expenses were $58.6 million for the nine months ended September 30, 2026, an increase of $2.3 million from 2025.
- MAA general and administrative expenses were $45.3 million for the nine months ended September 30, 2026, an increase of $4.3 million from 2025.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -1.1% | MAA total property operating expenses were $222.268 million for the three months ended September 30, 2026, up $6.204 million or 2.9% from… |
| operating_income | negative | realized | -0.9% | MAA total property operating expenses were $646.560 million for the nine months ended September 30, 2026, up $14.489 million or 2.3% from… |