# MID AMERICA APARTMENT COMMUNITIES INC.

Summary updated: 2026-09-28T12:23:06.361195Z
Canonical: https://finbar.com/research/companies/mid-america-apartment-communities

## Overview

Mid-America Apartment Communities, Inc. (MAA) is a self-administered and self-managed real estate investment trust focused on multifamily housing. It owns, operates, acquires and selectively develops apartment communities, primarily in the Southeast, Southwest and Mid-Atlantic United States. Its principal executive office is in Germantown, Tennessee. [1](https://app.finbar.com/go?id=P20560189)[2](https://app.finbar.com/go?id=P103977471)

At year-end 2025, MAA’s portfolio comprised 302 communities and 103,083 apartment units across 16 states and Washington, D.C. It reported approximately $2.21 billion in annual rental and other property revenue and 2,507 associates. MAA describes its primary business objective as generating sustainable, stable and increasing cash flow to support dividends and distributions throughout the real estate cycle. [3](https://app.finbar.com/go?id=T3117790)[4](https://app.finbar.com/go?id=P70617069)[5](https://app.finbar.com/go?id=T7705295)[6](https://app.finbar.com/go?id=P94379912)[7](https://app.finbar.com/go?id=P52287308)
[1](https://app.finbar.com/go?id=P20560189)[2](https://app.finbar.com/go?id=P103977471)[3](https://app.finbar.com/go?id=T3117790)[3](https://app.finbar.com/go?id=T3117790)[4](https://app.finbar.com/go?id=P70617069)[5](https://app.finbar.com/go?id=T7705295)[6](https://app.finbar.com/go?id=P94379912)[7](https://app.finbar.com/go?id=P52287308)

## Products & services

Mid-America Apartment Communities’ principal product is rental housing in multifamily apartment communities. Residents generally sign leases of about one year or less and pay rent monthly. In 2024, rent accounted for approximately 94% of total revenue; resident utility reimbursements accounted for about 5%, and other property revenue, primarily nonrefundable fees and commissions, accounted for about 1%. [8](https://app.finbar.com/go?id=P75956526)

The company also equips apartments with MAA Smart Homes technology, which includes unit-entry locks, mobile control of lighting and thermostats, and leak monitoring. The technology had been installed in more than 96,000 units as of December 31, 2024. MAA reported that the initiative had added approximately $25 per month to average effective rent per unit since its 2019 launch. [9](https://app.finbar.com/go?id=P118874952)
[8](https://app.finbar.com/go?id=P75956526)[9](https://app.finbar.com/go?id=P118874952)

## Geographic presence

Mid-America Apartment Communities operates primarily in the Southeastern, Southwestern and Mid-Atlantic United States. As of December 31, 2025, its communities, including those in development, spanned 16 states and the District of Columbia. [1](https://app.finbar.com/go?id=P20560189)

Its portfolio is concentrated in several metropolitan areas: Atlanta, Dallas, Austin, Charlotte and Orlando together accounted for approximately 41.2% of completed apartment units at year-end 2025. Approximately 70% of its apartment units were in Florida, Georgia, North Carolina and Texas. [10](https://app.finbar.com/go?id=P67117614)[11](https://app.finbar.com/go?id=P114948518) Its principal executive offices are in Germantown, Tennessee. [2](https://app.finbar.com/go?id=P103977471)
[1](https://app.finbar.com/go?id=P20560189)[10](https://app.finbar.com/go?id=P67117614)[11](https://app.finbar.com/go?id=P114948518)[2](https://app.finbar.com/go?id=P103977471)

## Business segments

Mid-America Apartment Communities reports two business segments: **Same Store** and **Non-Same Store and Other**. Same Store comprises apartment communities owned and stabilized for at least 12 months at the start of the year. Non-Same Store and Other includes recently acquired communities, properties under development or in lease-up, dispositions, certain casualty-affected properties, and other activities. These are operating classifications rather than geographic segments. [12](https://app.finbar.com/go?id=P71279774)

In 2025, Same Store generated approximately **94%** of rental and other property revenues ($2.08 billion), while Non-Same Store and Other generated approximately **6%** ($132 million). Same Store accounted for approximately **95%** of segment net operating income, with Non-Same Store and Other accounting for the remaining **5%**. [13](https://app.finbar.com/go?id=T543341)
[12](https://app.finbar.com/go?id=P71279774)[13](https://app.finbar.com/go?id=T543341)[13](https://app.finbar.com/go?id=T543341)[13](https://app.finbar.com/go?id=T543341)[13](https://app.finbar.com/go?id=T543341)[13](https://app.finbar.com/go?id=T543341)

## Company history

Mid-America Apartment Communities and its operating partnership were formed in Tennessee in 1993. [14](https://app.finbar.com/go?id=P189121206) In October 2013, the company completed a merger with Colonial Properties Trust, acquiring 115 apartment communities with 34,370 units; the transaction nearly doubled its size. [15](https://app.finbar.com/go?id=P190487882) In December 2016, it completed a merger with Post Properties, with Mid-America Apartment Communities continuing as the surviving company. [16](https://app.finbar.com/go?id=P189121208)
[14](https://app.finbar.com/go?id=P189121206)[15](https://app.finbar.com/go?id=P190487882)[16](https://app.finbar.com/go?id=P189121208)

## Sources

1. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P20560189)
2. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P103977471)
3. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T3117790)
4. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P70617069)
5. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T7705295)
6. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P94379912)
7. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P52287308)
8. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P75956526)
9. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2024 Y)](https://app.finbar.com/go?id=P118874952)
10. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P67117614)
11. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P114948518)
12. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P71279774)
13. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T543341)
14. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2016 Y)](https://app.finbar.com/go?id=P189121206)
15. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2015 Y)](https://app.finbar.com/go?id=P190487882)
16. [MID AMERICA APARTMENT COMMUNITIES INC. — Full financial report (2016 Y)](https://app.finbar.com/go?id=P189121208)

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