Mid-America Apartments 10-Q 28 Jul 22 2022 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2022	Jul. 25, 2022
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2
Entity Registrant Name	MID-AMERICA APARTMENT COMMUNITIES, INC.
Entity Central Index Key	0000912595
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		115,438,832
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity File Number	001-12762
Entity Incorporation, State or Country Code	TN
Entity Tax Identification Number	62-1543819
Entity Address, Address Line One	6815 Poplar Ave
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Germantown
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38138
City Area Code	901
Local Phone Number	682-6600
Document Quarterly Report	true
Document Transition Report	false
Common Stock [Member]
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	MAA
Title of 12(b) Security	Common Stock
Cumulative Preferred Stock [Member]
Document Information [Line Items]
Security Exchange Name	NYSE
Trading Symbol	MAA*I
Title of 12(b) Security	8.50% Series I Cumulative Redeemable Preferred Stock
Limited Partner [Member]
Document Information [Line Items]
Entity Registrant Name	MID-AMERICA APARTMENTS, L.P.
Entity Central Index Key	0001581776
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Emerging Growth Company	false
Entity Small Business	false
Entity File Number	333-190028-01
Entity Tax Identification Number	62-1543816
Entity Address, Address Line One	6815 Poplar Ave
Entity Address, Address Line Two	Suite 500
Entity Address, City or Town	Germantown
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38138
City Area Code	901
Local Phone Number	682-6600

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands		Jun. 30, 2022	Dec. 31, 2021
Assets
Land		$ 1,971,660	$ 1,977,813
Buildings and improvements and other		12,613,378	12,454,439
Development and capital improvements in progress		267,691	247,970
Real Estate Investment Property, at Cost		14,852,729	14,680,222
Less: Accumulated depreciation		(4,089,694)	(3,848,161)
Real Estate Investment Property, Net		10,763,035	10,832,061
Undeveloped land		41,298	24,015
Investment in real estate joint venture		42,476	42,827
Real estate assets, net		10,846,809	10,898,903
Cash and cash equivalents		60,568	54,302
Restricted cash		161,134	76,296
Other assets		211,890	255,681
Total assets		11,280,401	11,285,182
Liabilities:
Unsecured notes payable		4,153,650	4,151,375
Secured notes payable		364,664	365,315
Accrued expenses and other liabilities		571,568	584,400
Total liabilities		5,089,882	5,101,090
Redeemable common stock		22,403	30,185
Shareholders' equity:
Preferred Stock, Value, Outstanding		9	9
Common Stock, Value, Outstanding	[1]	1,152	1,151
Additional Paid in Capital		7,191,920	7,230,956
Accumulated distributions in excess of net income		(1,199,216)	(1,255,807)
Accumulated other comprehensive loss		(10,591)	(11,132)
Total MAA shareholders' equity		5,983,274	5,965,177
Noncontrolling interests - Operating Partnership units		165,062	165,116
Total Company’s shareholders’ equity		6,148,336	6,130,293
Noncontrolling interests - consolidated real estate entities		19,780	23,614
Operating Partnership capital:
Accumulated other comprehensive loss		(10,591)	(11,132)
Noncontrolling interests - consolidated real estate entities		19,780	23,614
Total equity		6,168,116	6,153,907
Total liabilities and equity		11,280,401	11,285,182
Limited Partnership [Member]
Assets
Land		1,971,660	1,977,813
Buildings and improvements and other		12,613,378	12,454,439
Development and capital improvements in progress		267,691	247,970
Real Estate Investment Property, at Cost		14,852,729	14,680,222
Less: Accumulated depreciation		(4,089,694)	(3,848,161)
Real Estate Investment Property, Net		10,763,035	10,832,061
Undeveloped land		41,298	24,015
Investment in real estate joint venture		42,476	42,827
Real estate assets, net		10,846,809	10,898,903
Cash and cash equivalents		60,568	54,302
Restricted cash		161,134	76,296
Other assets		211,890	255,681
Total assets		11,280,401	11,285,182
Liabilities:
Unsecured notes payable		4,153,650	4,151,375
Secured notes payable		364,664	365,315
Accrued expenses and other liabilities		571,568	584,400
Due to general partner		19	19
Total liabilities		5,089,901	5,101,109
Redeemable common stock		22,403	30,185
Shareholders' equity:
Accumulated other comprehensive loss		(10,826)	(11,382)
Total Company’s shareholders’ equity		6,148,317	6,130,274
Noncontrolling interests - consolidated real estate entities		19,780	23,614
Operating Partnership capital:
Preferred Units, Preferred Partners' Capital Accounts		66,840	66,840
General Partners' Capital Account	[2]	5,927,241	5,909,700
Limited Partners' Capital Account	[2]	165,062	165,116
Accumulated other comprehensive loss		(10,826)	(11,382)
Noncontrolling interests - consolidated real estate entities		19,780	23,614
Total equity		6,168,097	6,153,888
Total liabilities and equity		$ 11,280,401	$ 11,285,182
[1] Number of shares issued and outstanding represents total shares of common stock regardless of classification on the Condensed Consolidated Balance Sheets. The number of shares classified as redeemable common stock on the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 are 132,944 and 131,559 , respectively. Number of units outstanding represents total OP Units regardless of classification on the Condensed Consolidated Balance Sheets. The number of units classified as redeemable common units on the Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021 are 132,944 and 131,559 , respectively.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	6 Months Ended		12 Months Ended
	Jun. 30, 2022		Dec. 31, 2021
Common stock, par value per share	$ 0.01		$ 0.01
Common stock, shares authorized	145,000,000		145,000,000
Common stock, shares issued	115,438,832		115,336,876
Common stock, shares outstanding	115,438,832		115,336,876
Preferred Stock, Par or Stated Value Per Share	$ 0.01		$ 0.01
Preferred Stock, Shares Authorized	20,000,000		20,000,000
Preferred Stock, Dividend Rate, Percentage	8.50%		8.50%
Preferred Stock, Shares Issued	867,846		867,846
Preferred Stock, Shares Outstanding	867,846		867,846
Preferred Stock, Liquidation Preference Per Share	$ 50	[1]	$ 50
Redeemable stock, shares issued and outstanding	132,944		131,559
General Partners' Capital Account, Units Outstanding	115,438,832
Limited Partners' Capital Account, Units Outstanding	3,202,377
Limited Partnership [Member]
Redeemable stock, shares issued and outstanding	132,944		131,559
General Partners' Capital Account, Units Outstanding	115,438,832		115,336,876
Limited Partners' Capital Account, Units Outstanding	3,202,377		3,206,118
Preferred Units, Outstanding	867,846		867,846
[1] The total liquidation preference for the outstanding preferred stock is $ 43.4 million .

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Revenues:
Rental and other property revenues	$ 495,040	$ 436,927	$ 971,118	$ 861,932
Expenses:
Operating expenses, excluding real estate taxes and insurance	110,007	101,751	211,124	197,712
Real estate taxes and insurance	71,670	67,010	139,973	133,517
Depreciation and amortization	134,144	131,824	267,882	263,327
Total property operating expenses	315,821	300,585	618,979	594,556
Property management expenses	15,630	13,752	32,167	26,691
General and administrative expenses	15,580	13,114	31,903	26,093
Interest expense	38,905	38,867	78,026	78,539
Gain on sale of depreciable real estate assets	(131,965)	(134,828)	(131,964)	(134,828)
Gain on sale of non-depreciable real estate assets	(355)	(32)	(378)	(32)
Other non-operating expense (income)	28,325	(20,126)	17,530	(4,213)
Income before income tax benefit (expense)	213,099	225,595	324,855	275,126
Income tax benefit (expense)	3,052	(2,045)	4,494	(3,044)
Income from continuing operations before real estate joint venture activity	216,151	223,550	329,349	272,082
Income from real estate joint venture	409	325	788	657
Net income	216,560	223,875	330,137	272,739
Net income attributable to noncontrolling interests	5,858	7,397	8,633	9,068
Net income available for shareholders	210,702	216,478	321,504	263,671
Dividends to MAA Series I preferred shareholders	922	922	1,844	1,844
Net income available for MAA common shareholders	$ 209,780	$ 215,556	$ 319,660	$ 261,827
Earnings per common share - basic:
Net income available for MAALP common unitholders	$ 1.82	$ 1.88	$ 2.77	$ 2.29
Earnings per common share - diluted:
Net income available for MAALP common unitholders	$ 1.82	$ 1.88	$ 2.76	$ 2.28
Limited Partnership [Member]
Revenues:
Rental and other property revenues	$ 495,040	$ 436,927	$ 971,118	$ 861,932
Expenses:
Operating expenses, excluding real estate taxes and insurance	110,007	101,751	211,124	197,712
Real estate taxes and insurance	71,670	67,010	139,973	133,517
Depreciation and amortization	134,144	131,824	267,882	263,327
Total property operating expenses	315,821	300,585	618,979	594,556
Property management expenses	15,630	13,752	32,167	26,691
General and administrative expenses	15,580	13,114	31,903	26,093
Interest expense	38,905	38,867	78,026	78,539
Gain on sale of depreciable real estate assets	(131,965)	(134,828)	(131,964)	(134,828)
Gain on sale of non-depreciable real estate assets	(355)	(32)	(378)	(32)
Other non-operating expense (income)	28,325	(20,126)	17,530	(4,213)
Income before income tax benefit (expense)	213,099	225,595	324,855	275,126
Income tax benefit (expense)	3,052	(2,045)	4,494	(3,044)
Income from continuing operations before real estate joint venture activity	216,151	223,550	329,349	272,082
Income from real estate joint venture	409	325	788	657
Net income	216,560	223,875	330,137	272,739
Net income attributable to noncontrolling interests	0	0	(293)	0
Net income available for shareholders	216,560	223,875	330,430	272,739
Dividends to MAA Series I preferred shareholders	922	922	1,844	1,844
Net income available for MAA common shareholders	$ 215,638	$ 222,953	$ 328,586	$ 270,895
Earnings per common share - basic:
Net income available for MAALP common unitholders	$ 1.82	$ 1.88	$ 2.77	$ 2.29
Earnings per common share - diluted:
Net income available for MAALP common unitholders	$ 1.82	$ 1.88	$ 2.76	$ 2.28

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Net income	$ 216,560	$ 223,875	$ 330,137	$ 272,739
Other comprehensive income:
Adjustment for net losses reclassified to net income from derivative instruments	277	278	556	557
Total comprehensive income	216,837	224,153	330,693	273,296
Less: Comprehensive (income) loss attributable to noncontrolling interests	(5,866)	(7,448)	(8,648)	(9,129)
Comprehensive income attributable to MAA	210,971	216,705	322,045	264,167
Limited Partnership [Member]
Net income	216,560	223,875	330,137	272,739
Other comprehensive income:
Adjustment for net losses reclassified to net income from derivative instruments	277	278	556	557
Total comprehensive income	216,837	224,153	330,693	273,296
Less: Comprehensive (income) loss attributable to noncontrolling interests	0	0	293	0
Comprehensive income attributable to MAA	$ 216,837	$ 224,153	$ 330,986	$ 273,296

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Cash flows from operating activities:
Net income	$ 330,137	$ 272,739
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	268,389	263,912
Gain on sale of depreciable real estate assets	(131,964)	(134,828)
Gain on sale of non-depreciable real estate assets	(378)	(32)
Loss on embedded derivative in preferred shares	9,939	1,940
Stock compensation expense	10,740	9,212
Amortization of debt issuance costs, discounts and premiums	3,018	2,674
Loss on investments	31,093	7,901
Net change in operating accounts and other operating activities	(57,067)	(10,398)
Net cash provided by operating activities	463,907	397,318
Cash flows from investing activities:
Purchases of real estate and other assets	(17,238)	(46,028)
Capital improvements and other	(132,849)	(127,932)
Development costs	(84,636)	(119,612)
Distributions from real estate joint venture	352	392
Contributions to affiliates	(9,300)	(1,114)
Proceeds from real estate asset dispositions	165,201	158,136
Proceeds from insurance recoveries	20,675	3,620
Net cash used in investing activities	(57,795)	(132,538)
Cash flows from financing activities:
Net proceeds from commercial paper	0	108,000
Principal payments on notes payable	(691)	(119,481)
Distributions to noncontrolling interests	(6,965)	(8,302)
Dividends paid on common shares	(250,960)	(234,591)
Dividends paid on preferred shares	(1,844)	(1,844)
Acquisition of noncontrolling interests	(43,070)	0
Net change in other financing activities	(11,478)	(1,173)
Net cash used in financing activities	(315,008)	(257,391)
Net increase in cash, cash equivalents and restricted cash	91,104	7,389
Cash, cash equivalents and restricted cash, beginning of period	130,598	35,615
Cash, cash equivalents and restricted cash, end of period	221,702	43,004
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	60,568	31,881
Restricted cash	161,134	11,123
Total cash, cash equivalents and restricted cash	221,702	43,004
Supplemental disclosure of cash flow information:
Interest paid	79,201	81,122
Income taxes paid	2,635	2,474
Supplemental disclosure of noncash investing and financing activities:
Conversion of OP Units to shares of common stock	193	22,164
Accrued construction in progress	31,803	30,771
Interest capitalized	3,893	5,333
Limited Partnership [Member]
Cash flows from operating activities:
Net income	330,137	272,739
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	268,389	263,912
Gain on sale of depreciable real estate assets	(131,964)	(134,828)
Gain on sale of non-depreciable real estate assets	(378)	(32)
Loss on embedded derivative in preferred shares	9,939	1,940
Stock compensation expense	10,740	9,212
Amortization of debt issuance costs, discounts and premiums	3,018	2,674
Loss on investments	31,093	7,901
Net change in operating accounts and other operating activities	(57,067)	(10,398)
Net cash provided by operating activities	463,907	397,318
Cash flows from investing activities:
Purchases of real estate and other assets	(17,238)	(46,028)
Capital improvements and other	(132,849)	(127,932)
Development costs	(84,636)	(119,612)
Distributions from real estate joint venture	352	392
Contributions to affiliates	(9,300)	(1,114)
Proceeds from real estate asset dispositions	165,201	158,136
Proceeds from insurance recoveries	20,675	3,620
Net cash used in investing activities	(57,795)	(132,538)
Cash flows from financing activities:
Net proceeds from commercial paper	0	108,000
Principal payments on notes payable	(691)	(119,481)
Dividends paid on common shares	(257,925)	(242,893)
Dividends paid on preferred shares	(1,844)	(1,844)
Acquisition of noncontrolling interests	(43,070)	0
Net change in other financing activities	(11,478)	(1,173)
Net cash used in financing activities	(315,008)	(257,391)
Net increase in cash, cash equivalents and restricted cash	91,104	7,389
Cash, cash equivalents and restricted cash, beginning of period	130,598	35,615
Cash, cash equivalents and restricted cash, end of period	221,702	43,004
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	60,568	31,881
Restricted cash	161,134	11,123
Total cash, cash equivalents and restricted cash	221,702	43,004
Supplemental disclosure of cash flow information:
Interest paid	79,201	81,122
Income taxes paid	2,635	2,474
Supplemental disclosure of noncash investing and financing activities:
Accrued construction in progress	31,803	30,771
Interest capitalized	$ 3,893	$ 5,333

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2022
Consolidation And Basis Of Presentation And Significant Accounting Policies [Abstract]
Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Unless the context otherwise requires, all references to the “Company” refer collectively to Mid-America Apartment Communities, Inc., together with its consolidated subsidiaries, including Mid-America Apartments, L.P. Unless the context otherwise requires, all references to “MAA” refer only to Mid-America Apartment Communities, Inc., and not any of its consolidated subsidiaries. Unless the context otherwise requires, the references to the “Operating Partnership” or “MAALP” refer to Mid-America Apartments, L.P., together with its consolidated subsidiaries. “Common stock” refers to the common stock of MAA, “preferred stock” refers to the preferred stock of MAA, and “shareholders” refers to the holders of shares of MAA’s common stock or preferred stock, as applicable. The common units of limited partnership interests in the Operating Partnership are referred to as “OP Units,” and the holders of the OP Units are referred to as “common unitholders”. As of June 30, 2022, MAA owned 115,438,832 OP Units (or 97.3 % of the total number of OP Units). MAA conducts substantially all of its business and holds substantially all of its assets, directly or indirectly, through the Operating Partnership, and by virtue of its ownership of the OP Units and being the Operating Partnership’s sole general partner, MAA has the ability to control all of the day-to-day operations of the Operating Partnership. Management believes combining the notes to the condensed consolidated financial statements of MAA and the Operating Partnership results in the following benefits: • enhances a readers’ understanding of MAA and the Operating Partnership by enabling the reader to view the business as a whole in the same manner that management views and operates the business; • eliminates duplicative disclosure and provides a more streamlined and readable presentation since a substantial portion of the disclosure applies to both MAA and the Operating Partnership; and • creates time and cost efficiencies through the preparation of one combined set of notes instead of two separate sets. MAA, an S&P 500 company, is a multifamily-focused, self-administered and self-managed real estate investment trust, or REIT. Management operates MAA and the Operating Partnership as one business. The management of the Company is comprised of individuals who are officers of MAA and employees of the Operating Partnership. Management believes it is important to understand the few differences between MAA and the Operating Partnership in the context of how MAA and the Operating Partnership operate as a consolidated company. MAA and the Operating Partnership are structured as an umbrella partnership REIT, or UPREIT. MAA’s interest in the Operating Partnership entitles MAA to share in cash distributions from, and in the profits and losses of, the Operating Partnership in proportion to MAA’s percentage interest therein and entitles MAA to vote on substantially all matters requiring a vote of the partners. MAA’s only material asset is its ownership of limited partnership interests in the Operating Partnership (other than cash held by MAA from time to time); therefore, MAA’s primary function is acting as the sole general partner of the Operating Partnership, issuing public equity from time to time and guaranteeing certain debt of the Operating Partnership from time to time. The Operating Partnership holds, directly or indirectly, all of the Company’s real estate assets. Except for net proceeds from public equity issuances by MAA, which are contributed to the Operating Partnership in exchange for limited partnership interests, the Operating Partnership generates the capital required by the business through the Operating Partnership’s operations, direct or indirect incurrence of indebtedness and issuance of OP Units. The presentations of MAA’s shareholders’ equity and the Operating Partnership’s capital are the principal areas of difference between the condensed consolidated financial statements of MAA and those of the Operating Partnership. MAA’s shareholders’ equity may include shares of preferred stock, shares of common stock, additional paid-in capital, cumulative earnings, cumulative distributions, noncontrolling interests, treasury shares, accumulated other comprehensive income or loss and redeemable common stock. The Operating Partnership’s capital may include common capital and preferred capital of the general partner (MAA), limited partners’ common capital and preferred capital, noncontrolling interests, accumulated other comprehensive income or loss and redeemable common units. Holders of OP Units (other than MAA) may require the Operating Partnership to redeem their OP Units from time to time, in which case the Operating Partnership may, at its option, pay the redemption price either in cash (in an amount per OP Unit equal, in general, to the average closing price of MAA’s common stock on the New York Stock Exchange, or NYSE, over a specified period prior to the redemption date) or by delivering one share of MAA’s common stock (subject to adjustment under specified circumstances) for each OP Unit so redeemed. Organization of Mid-America Apartment Communities, Inc. The Company owns, operates, acquires and selectively develops apartment communities primarily located in the Southeast, Southwest and Mid-Atlantic regions of the United States. As of June 30, 2022, the Company owned and operated 290 apartment communities (which does not include development communities under construction) through the Operating Partnership and its subsidiaries and had an ownership interest in one apartment community through an unconsolidated real estate joint venture. As of June 30, 2022, the Company also had five development communities under construction totaling 1,759 apartment units once complete. Total expected costs for the five development projects are $ 444.0 million , of which $ 230.4 million had been incurred through June 30, 2022. The Company expects to complete one of these developments in 2022, three developments in 2023, and one development in 2024. As of June 30, 2022, 33 of the Company’s apartment communities included retail components. The Company’s apartment communities, including development communities under construction, were located across 16 states and the District of Columbia as of June 30, 2022. Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared by the Company’s management in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or the SEC. The condensed consolidated financial statements of MAA presented herein include the accounts of MAA, the Operating Partnership and all other subsidiaries in which MAA has a controlling financial interest. MAA owns, directly or indirectly, approximately 80 % to 100 % of all consolidated subsidiaries, including the Operating Partnership. In management’s opinion, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included, and all such adjustments were of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company invests in entities that may qualify as variable interest entities, or VIEs, and MAALP is considered a VIE. A VIE is a legal entity in which the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the holders of the equity investment at risk lack the power to direct the activities of a legal entity as well as the obligation to absorb its expected losses or the right to receive its expected residual returns. MAALP is classified as a VIE because the limited partners lack substantive kick-out rights and substantive participating rights. The Company consolidates all VIEs for which it is the primary beneficiary and uses the equity method to account for investments that qualify as VIEs but for which it is not the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, management considers both qualitative and quantitative factors, including, but not limited to, those activities that most significantly impact the VIE’s economic performance and which party controls such activities. The Company uses the equity method of accounting for its investments in entities for which the Company exercises significant influence, but does not have the ability to exercise control. The factors considered in determining whether the Company has the ability to exercise control include ownership of voting interests and participatory rights of investors (see “Investments in Unconsolidated Affiliates” below). Noncontrolling Interests As of June 30, 2022, the Company had two types of noncontrolling interests with respect to its consolidated subsidiaries: (1) noncontrolling interests related to the common unitholders of its Operating Partnership; and (2) noncontrolling interests related to its consolidated real estate entities. The noncontrolling interests relating to the limited partnership interests in the Operating Partnership are owned by the holders of the Class A OP Units. MAA is the sole general partner of the Operating Partnership and holds all of the outstanding Class B OP Units. Net income (after allocations to preferred ownership interests) is allocated to MAA and the noncontrolling interests based on their respective ownership percentages of the Operating Partnership. Issuance of additional Class A OP Units or Class B OP Units changes the ownership percentage of both the noncontrolling interests and MAA. The issuance of Class B OP Units generally occurs when MAA issues common stock and the issuance proceeds are contributed to the Operating Partnership in exchange for Class B OP Units equal to the number of shares of MAA’s common stock issued. At each reporting period, the allocation between total MAA shareholders’ equity and noncontrolling interests is adjusted to account for the change in the respective percentage ownership of the underlying equity of the Operating Partnership. MAA’s Board of Directors established economic rights in respect to each Class A OP Unit that were equivalent to the economic rights in respect to each share of MAA common stock. See Note 9 for additional details. The noncontrolling interests relating to the Company’s four consolidated real estate entities are owned by private real estate companies that are generally responsible for the development, construction and lease-up of the apartment communities that are owned through the consolidated real estate entities with a noncontrolling interest. The entities were determined to be VIE’s with the Company designated as the primary beneficiary. As a result, the accounts of the entities are consolidated by the Company. As of June 30, 2022, the consolidated assets of the Company’s consolidated real estate entities with a noncontrolling interest were $ 218.5 million , and consolidated liabilities were $ 14.7 million . As of December 31, 2021, the consolidated assets of the Company’s consolidated real estate entities with a noncontrolling interest were $ 252.8 million , and consolidated liabilities were $ 15.9 million . During the six months ended June 30, 2022 , the Company paid $ 43.1 million to acquire the noncontrolling interest of one consolidated real estate entity. Investments in Unconsolidated Affiliates The Company uses the equity method to account for its investments in a real estate joint venture and three technology-focused limited partnerships that each qualify as a VIE. Management determined the Company is not the primary beneficiary in any of these investments but does have the ability to exert significant influence over the operations and financial policies of the real estate joint venture and considers its investments in the limited partnerships to be more than minor. The Company’s investment in the real estate joint venture was $ 42.5 million and $ 42.8 million as of June 30, 2022 and December 31, 2021, respectively. The Company accounts for its investments in the technology-focused limited partnerships on a three month lag due to the timing the limited partnerships’ financial information is made available to the Company. As of June 30, 2022 and December 31, 2021, the Company’s investments in the limited partnerships were $ 44.6 million and $ 79.4 million , respectively, and are included in “Other assets” in the accompanying Condensed Consolidated Balance Sheets. The decrease in the Company’s investment in the limited partnerships was driven by the recognition of unrealized losses, which were primarily a result of a decrease in the valuation of an underlying investment that recently became publicly traded. As of June 30, 2022, the Company was committed to make additional capital contributions totaling $ 31.7 million if and when called by the general partners of the limited partnerships. Marketable Equity Securities During the six months ended June 30, 2022, two of the technology-focused limited partnerships that are accounted for as unconsolidated affiliates distributed publicly traded marketable equity securities to the Company and the other limited partners. The Company’s investment in marketable equity securities is measured at fair value based on the quoted share price of the securities, with any related gains and losses, including unrealized gains and losses, recognized in “Other non-operating expense (income)” in the accompanying Condensed Consolidated Statements of Operations. As of June 30, 2022, the Company’s investment in the marketable equity securities was $ 9.8 million. Revenue Recognition The Company primarily leases multifamily residential apartments to residents under operating leases generally due on a monthly basis with terms of approximately one year or less. Rental revenues are recognized in accordance with ASC Topic 842, Leases , using a method that represents a straight-line basis over the term of the lease. In addition, in circumstances where a lease incentive is provided to residents, the incentive is recognized as a reduction of rental revenues on a straight-line basis over the reasonably assured lease term. Rental revenues represent approximately 94 % of the Company’s total revenues and include gross rents charged less adjustments for concessions and bad debt. Approximately 5 % of the Company’s total revenues represent non-lease reimbursable property revenues from its residents for utility reimbursements, which are generally recognized and due on a monthly basis as residents obtain control of the service over the term of the lease. The remaining 1 % of the Company’s total revenues represents other non-lease property revenues primarily driven by nonrefundable fees and commissions which are recognized when earned. In accordance with ASC Topic 842, rental revenues and non-lease reimbursable property revenues meet the criteria to be aggregated into a single lease component and are reported on a combined basis in the line item “Rental revenues,” as presented in the disaggregation of the Company’s revenues in Note 11. Other non-lease property revenues are accounted for in accordance with ASC Topic 606, Revenue from Contracts with Customers , which requires revenue recognized outside of the scope of ASC Topic 842 to be recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. Other non-lease property revenues are reported in the line item “Other property revenues”, as presented in the disaggregation of the Company’s revenues in Note 11. Leases The Company is the lessee under certain ground, office, equipment and other operational leases, all of which are accounted for as operating leases in accordance with ASC Topic 842. The Company recognizes a right-of-use asset for the right to use the underlying asset for all leases where the Company is the lessee with terms of more than twelve months, and a related lease liability for the obligation to make lease payments. Expenses related to leases determined to be operating leases are recognized on a straight-line basis. As of June 30, 2022 and December 31, 2021, right-of-use assets recorded within “Other assets” totaled $ 45.9 million and $ 47.0 million , respectively, and related lease liabilities recorded within “Accrued expenses and other liabilities” totaled $ 29.5 million and $ 30.3 million , respectively, in the Condensed Consolidated Balance Sheets. Lease expense recognized for the three and six months ended June 30, 2022 and 2021 was immaterial to the Company. Cash paid for amounts included in the measurement of operating lease liabilities during the six months ended June 30, 2022 and 2021 was also immaterial. See Note 10 for additional disclosures regarding leases. Fair Value Measurements The Company applies the guidance in Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures , to the valuation of real estate assets recorded at fair value, to its impairment valuation analysis of real estate assets and to its valuation and disclosure of the fair value of financial instruments, which primarily consists of marketable equity securities, indebtedness and derivative instruments. Fair value disclosures required under ASC Topic 820 as well as the Company’s derivative accounting policies are summarized in Note 7 utilizing the following hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. Level 2 - Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 3 - Unobservable inputs for the assets or liability.

Earnings Per Common Share of MA

Earnings Per Common Share of MAA	6 Months Ended
	Jun. 30, 2022
Earnings Per Common Share Of M A A [Abstract]
Earnings per Common Share of MAA	2. Earnings per Common Share of MAA Basic earnings per share is computed using the two-class method by dividing net income available to MAA common shareholders by the weighted average number of common shares outstanding during the period. All outstanding unvested restricted share awards contain rights to non-forfeitable dividends and participate in undistributed earnings with common shareholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per share. Both the unvested restricted shares and other potentially dilutive common shares, and the related impact to earnings, are considered when calculating earnings per share on a diluted basis with diluted earnings per share being the more dilutive of the treasury stock or two-class methods. OP Units are included in dilutive earnings per share calculations when the units are dilutive to earnings per share. For the three and six months ended June 30, 2022 and 2021, MAA’s diluted earnings per share was computed using the treasury stock method as presented below (dollars and shares in thousands, except per share amounts): Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Calculation of Earnings per common share - basic Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net income attributable to noncontrolling interests ( 5,858 ) ( 7,397 ) ( 8,633 ) ( 9,068 ) Unvested restricted shares (allocation of earnings) ( 149 ) ( 234 ) ( 228 ) ( 294 ) Preferred dividends ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAA common shareholders, adjusted $ 209,631 $ 215,322 $ 319,432 $ 261,533 Weighted average common shares - basic 115,353 114,494 115,306 114,379 Earnings per common share - basic $ 1.82 $ 1.88 $ 2.77 $ 2.29 Calculation of Earnings per common share - diluted Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net income attributable to noncontrolling interests (1) ( 5,858 ) ( 7,397 ) ( 8,633 ) ( 9,068 ) Preferred dividends ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAA common shareholders, adjusted $ 209,780 $ 215,556 $ 319,660 $ 261,827 Weighted average common shares - basic 115,353 114,494 115,306 114,379 Effect of dilutive securities 203 318 336 311 Weighted average common shares - diluted 115,556 114,812 115,642 114,690 Earnings per common share - diluted $ 1.82 $ 1.88 $ 2.76 $ 2.28 (1) For the three and six months ended June 30, 2022, 3.2 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. For the three and six months ended June 30, 2021, 3.9 million OP Units and 4.0 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.

Earnings Per OP Unit of MAALP

Earnings Per OP Unit of MAALP	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per OP Unit of MAALP	3. Earnings per OP Unit of MAALP Basic earnings per common unit is computed by dividing net income available for common unitholders by the weighted average number of OP Units outstanding during the period. All outstanding unvested restricted unit awards contain rights to non-forfeitable distributions and participate in undistributed earnings with common unitholders and, accordingly, are considered participating securities that are included in the two-class method of computing basic earnings per common unit. Diluted earnings per common unit reflects the potential dilution that could occur if securities or other contracts to issue OP Units were exercised or converted into OP Units. Both the unvested restricted unit awards and other potentially dilutive common units, and the related impact to earnings, are considered when calculating earnings per common unit on a diluted basis with diluted earnings per common unit being the more dilutive of the treasury stock or two-class methods. For the three and six months ended June 30, 2022 and 2021, MAALP’s diluted earnings per common unit was computed using the treasury stock method as presented below (dollars and units in thousands, except per unit amounts): Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Calculation of Earnings per common unit - basic Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net loss attributable to noncontrolling interests — — 293 — Unvested restricted units (allocation of earnings) ( 149 ) ( 234 ) ( 228 ) ( 294 ) Preferred unit distributions ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAALP common unitholders, adjusted $ 215,489 $ 222,719 $ 328,358 $ 270,601 Weighted average common units - basic 118,555 118,411 118,509 118,365 Earnings per common unit - basic $ 1.82 $ 1.88 $ 2.77 $ 2.29 Calculation of Earnings per common unit - diluted Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net loss attributable to noncontrolling interests — — 293 — Preferred unit distributions ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAALP common unitholders, adjusted $ 215,638 $ 222,953 $ 328,586 $ 270,895 Weighted average common units - basic 118,555 118,411 118,509 118,365 Effect of dilutive securities 203 318 336 311 Weighted average common units - diluted 118,758 118,729 118,845 118,676 Earnings per common unit - diluted $ 1.82 $ 1.88 $ 2.76 $ 2.28

MAA Equity

MAA Equity	6 Months Ended
	Jun. 30, 2022
M A A Equity [Abstract]
MAA Equity	4. MAA Equity Changes in MAA’s total equity and its components for the three months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE MARCH 31, 2022 $ 9 $ 1,151 $ 7,198,474 $ ( 1,268,827 ) $ ( 10,860 ) $ 163,566 $ 19,849 $ 6,103,362 Net income — — — 210,702 — 5,858 — 216,560 Other comprehensive income - derivative — — — — 269 8 — 277 Issuance and registration of common shares — 1 ( 454 ) — — — — ( 453 ) Shares repurchased and retired — — ( 10,869 ) — — — — ( 10,869 ) Redeemable stock fair market value adjustment — — — 4,227 — — — 4,227 Adjustment for noncontrolling interests in — — 368 — — ( 368 ) — — Amortization of unearned compensation — — 4,401 — — — — 4,401 Dividends on preferred stock — — — ( 922 ) — — — ( 922 ) Dividends on common stock ($ 1.2500 per — — — ( 144,396 ) — — — ( 144,396 ) Dividends on noncontrolling interests units 1.2500 per share) — — — — — ( 4,002 ) — ( 4,002 ) Distribution to noncontrolling interest — — — — — — ( 69 ) ( 69 ) EQUITY BALANCE JUNE 30, 2022 $ 9 $ 1,152 $ 7,191,920 $ ( 1,199,216 ) $ ( 10,591 ) $ 165,062 $ 19,780 $ 6,168,116 Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE MARCH 31, 2021 $ 9 $ 1,142 $ 7,182,771 $ ( 1,367,347 ) $ ( 11,859 ) $ 204,336 $ 10,481 $ 6,019,533 Net income — — — 216,478 — 7,397 — 223,875 Other comprehensive income - derivative — — — — 227 51 — 278 Issuance and registration of common shares — 1 ( 468 ) — — — — ( 467 ) Shares repurchased and retired — — ( 7,313 ) — — — — ( 7,313 ) Shares issued in exchange for common units — 4 21,928 — — ( 21,932 ) — — Redeemable stock fair market value adjustment — — — ( 3,031 ) — — — ( 3,031 ) Adjustment for noncontrolling interests in — — 816 — — ( 816 ) — — Amortization of unearned compensation — — 4,151 — — — — 4,151 Dividends on preferred stock — — — ( 922 ) — — — ( 922 ) Dividends on common stock ($ 1.0250 per — — — ( 117,872 ) — — — ( 117,872 ) Dividends on noncontrolling interests units 1.0250 per share) — — — — — ( 3,696 ) — ( 3,696 ) Contribution from noncontrolling interest — — — — — — 6,131 6,131 EQUITY BALANCE JUNE 30, 2021 $ 9 $ 1,147 $ 7,201,885 $ ( 1,272,694 ) $ ( 11,632 ) $ 185,340 $ 16,612 $ 6,120,667 Changes in MAA’s total equity and its components for the six months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE DECEMBER 31, 2021 $ 9 $ 1,151 $ 7,230,956 $ ( 1,255,807 ) $ ( 11,132 ) $ 165,116 $ 23,614 $ 6,153,907 Net income (loss) — — — 321,504 — 8,926 ( 293 ) 330,137 Other comprehensive income - derivative — — — — 541 15 — 556 Issuance and registration of common shares — 1 ( 433 ) — — — — ( 432 ) Shares repurchased and retired — — ( 14,031 ) — — — — ( 14,031 ) Exercise of stock options — — 28 — — — — 28 Shares issued in exchange for common units — — 193 — — ( 193 ) — — Redeemable stock fair market value adjustment — — — 6,760 — — — 6,760 Adjustment for noncontrolling interests in — — 1,321 — — ( 1,321 ) — — Amortization of unearned compensation — — 11,329 — — — — 11,329 Dividends on preferred stock — — ( 1,844 ) — — — ( 1,844 ) Dividends on common stock ($ 2.3375 per — — — ( 269,829 ) — — — ( 269,829 ) Dividends on noncontrolling interests units 2.3375 per share) — — — — — ( 7,481 ) — ( 7,481 ) Acquisition of noncontrolling interest — — ( 37,443 ) — — — ( 5,627 ) ( 43,070 ) Contribution from noncontrolling interest — — — — — — 2,086 2,086 EQUITY BALANCE JUNE 30, 2022 $ 9 $ 1,152 $ 7,191,920 $ ( 1,199,216 ) $ ( 10,591 ) $ 165,062 $ 19,780 $ 6,168,116 Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE DECEMBER 31, 2020 $ 9 $ 1,141 $ 7,176,793 $ ( 1,294,182 ) $ ( 12,128 ) $ 206,927 $ 9,848 $ 6,088,408 Net income — — — 263,671 — 9,068 — 272,739 Other comprehensive income - derivative — — — — 496 61 — 557 Issuance and registration of common shares — 2 ( 335 ) — — — — ( 333 ) Shares repurchased and retired — — ( 9,043 ) — — — — ( 9,043 ) Exercise of stock options — — 1,466 — — — — 1,466 Shares issued in exchange for common units — 4 22,160 — — ( 22,164 ) — — Redeemable stock fair market value adjustment — — — ( 5,189 ) — — — ( 5,189 ) Adjustment for noncontrolling interests in — — 700 — — ( 700 ) — — Amortization of unearned compensation — — 10,144 — — — — 10,144 Dividends on preferred stock — — — ( 1,844 ) — — — ( 1,844 ) Dividends on common stock ($ 2.0500 per — — — ( 235,150 ) — — — ( 235,150 ) Dividends on noncontrolling interests units 2.0500 per share) — — — — — ( 7,852 ) — ( 7,852 ) Contribution from noncontrolling interest — — — — — — 6,764 6,764 EQUITY BALANCE JUNE 30, 2021 $ 9 $ 1,147 $ 7,201,885 $ ( 1,272,694 ) $ ( 11,632 ) $ 185,340 $ 16,612 $ 6,120,667

MAALP Capital

MAALP Capital	6 Months Ended
	Jun. 30, 2022
M A A L P Capital [Abstract]
MAALP Capital	5. MAALP Capital Changes in MAALP’s total capital and its components for the three months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE MARCH 31, 2022 $ 66,840 $ 5,864,191 $ 163,566 $ ( 11,103 ) $ 19,849 $ 6,103,343 Net income 922 209,780 5,858 — — 216,560 Other comprehensive income - derivative instruments — — — 277 — 277 Issuance of units — ( 453 ) — — — ( 453 ) Units repurchased and retired — ( 10,869 ) — — — ( 10,869 ) Redeemable units fair market value adjustment — 4,227 — — — 4,227 Adjustment for limited partners’ capital at redemption value — 360 ( 360 ) — — — Amortization of unearned compensation — 4,401 — — — 4,401 Distributions to preferred unitholders ( 922 ) — — — — ( 922 ) Distributions to common unitholders ($ 1.2500 per unit) — ( 144,396 ) ( 4,002 ) — — ( 148,398 ) Distribution to noncontrolling interest — — — — ( 69 ) ( 69 ) CAPITAL BALANCE JUNE 30, 2022 $ 66,840 $ 5,927,241 $ 165,062 $ ( 10,826 ) $ 19,780 $ 6,168,097 Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE MARCH 31, 2021 $ 66,840 $ 5,750,074 $ 204,336 $ ( 12,217 ) $ 10,481 $ 6,019,514 Net income 922 215,556 7,397 — — 223,875 Other comprehensive income - derivative instruments — — — 278 — 278 Issuance of units — ( 467 ) — — — ( 467 ) Units repurchased and retired — ( 7,313 ) — — — ( 7,313 ) General partnership units issued in exchange for limited — 21,932 ( 21,932 ) — — — Redeemable units fair market value adjustment — ( 3,031 ) — — — ( 3,031 ) Adjustment for limited partners’ capital at redemption value — 765 ( 765 ) — — — Amortization of unearned compensation — 4,151 — — — 4,151 Distributions to preferred unitholders ( 922 ) — — — — ( 922 ) Distributions to common unitholders ($ 1.0250 per unit) — ( 117,872 ) ( 3,696 ) — — ( 121,568 ) Contribution from noncontrolling interest — — — — 6,131 6,131 CAPITAL BALANCE JUNE 30, 2021 $ 66,840 $ 5,863,795 $ 185,340 $ ( 11,939 ) $ 16,612 $ 6,120,648 Changes in MAALP’s total capital and its components for the six months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE DECEMBER 31, 2021 $ 66,840 $ 5,909,700 $ 165,116 $ ( 11,382 ) $ 23,614 $ 6,153,888 Net income (loss) 1,844 319,660 8,926 — ( 293 ) 330,137 Other comprehensive income - derivative instruments — — — 556 — 556 Issuance of units — ( 432 ) — — — ( 432 ) Units repurchased and retired — ( 14,031 ) — — — ( 14,031 ) Exercise of unit options — 28 — — — 28 General partnership units issued in exchange for limited — 193 ( 193 ) — — — Redeemable units fair market value adjustment — 6,760 — — — 6,760 Adjustment for limited partners’ capital at redemption value — 1,306 ( 1,306 ) — — — Amortization of unearned compensation — 11,329 — — — 11,329 Distributions to preferred unitholders ( 1,844 ) — — — — ( 1,844 ) Distributions to common unitholders ($ 2.3375 per unit) — ( 269,829 ) ( 7,481 ) — — ( 277,310 ) Acquisition of noncontrolling interest — ( 37,443 ) — — ( 5,627 ) ( 43,070 ) Contribution from noncontrolling interest — — — — 2,086 2,086 CAPITAL BALANCE JUNE 30, 2022 $ 66,840 $ 5,927,241 $ 165,062 $ ( 10,826 ) $ 19,780 $ 6,168,097 Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE DECEMBER 31, 2020 $ 66,840 $ 5,817,270 $ 206,927 $ ( 12,496 ) $ 9,848 $ 6,088,389 Net income 1,844 261,827 9,068 — — 272,739 Other comprehensive income - derivative instruments — — — 557 — 557 Issuance of units — ( 333 ) — — — ( 333 ) Units repurchased and retired — ( 9,043 ) — — — ( 9,043 ) Exercise of unit options — 1,466 — — — 1,466 General partnership units issued in exchange for limited — 22,164 ( 22,164 ) — — — Redeemable units fair market value adjustment — ( 5,189 ) — — — ( 5,189 ) Adjustment for limited partners’ capital at redemption value — 639 ( 639 ) — — — Amortization of unearned compensation — 10,144 — — — 10,144 Distributions to preferred unitholders ( 1,844 ) — — — — ( 1,844 ) Distributions to common unitholders ($ 2.0500 per unit) — ( 235,150 ) ( 7,852 ) — — ( 243,002 ) Contribution from noncontrolling interest — — — — 6,764 6,764 CAPITAL BALANCE JUNE 30, 2021 $ 66,840 $ 5,863,795 $ 185,340 $ ( 11,939 ) $ 16,612 $ 6,120,648

Borrowings

Borrowings	6 Months Ended
	Jun. 30, 2022
Notes To Financial Statements [Abstract]
Borrowings	6. Borrowings The following table summarizes the Company’s outstanding debt as of June 30, 2022 (dollars in thousands): Balance Weighted Average Effective Rate Weighted Average Contract Maturity Unsecured debt Fixed rate senior notes $ 4,175,000 3.3 % 3/4/2029 Debt issuance costs, discounts, premiums and fair market value adjustments ( 21,350 ) Total unsecured debt $ 4,153,650 3.3 % Secured debt Fixed rate property mortgages $ 367,864 4.4 % 10/10/2048 Debt issuance costs ( 3,200 ) Total secured debt $ 364,664 4.4 % Total outstanding debt $ 4,518,314 3.4 % Unsecured Revolving Credit Facility As of June 30, 2022, MAALP had a $ 1.0 billion unsecured revolving credit facility with an option to expand to $ 1.5 billion . The revolving credit facility bore an interest rate of the London Interbank Offered Rate plus a spread of 0.75 % to 1.45 % based on an investment grade pricing grid. The revolving credit facility was scheduled to mature in May 2023 with an option to extend for two additional six-month periods. As of June 30, 2022 , there was no outstanding balance under the revolving credit facility, while $ 4.0 million of capacity was used to support outstanding letters of credit. In July 2022, MAALP amended its unsecured revolving credit facility, increasing borrowing capacity to $ 1.25 billion with an option to expand to $ 2.0 billion. The amended revolving credit facility has a maturity date of October 2026 with two six-month extension options and bears interest at an adjusted Secured Overnight Financing Rate plus a spread of 0.70 % to 1.40 % based on an investment grade pricing grid. Unsecured Commercial Paper MAALP has established an unsecured commercial paper program whereby MAALP may issue unsecured commercial paper notes with varying maturities not to exceed 397 days up to a maximum aggregate principal amount outstanding of $ 500.0 million . As of June 30, 2022, there was no outstanding balance under the commercial paper program. For the three months ended June 30, 2022 , the average daily borrowings outstanding under the commercial paper program were $ 16.3 million. Unsecured Senior Notes As of June 30, 2022, MAALP had $ 4.2 billion of publicly issued unsecured senior notes outstanding. The unsecured senior notes had maturities at issuance ranging from 5 to 30 years, with a weighted average maturity in 2029. Secured Property Mortgages As of June 30, 2022, MAALP had $ 367.9 million of fixed rate conventional property mortgages with a weighted average maturity in 2048 .

Financial Instruments and Deriv

Financial Instruments and Derivatives	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Financial Instruments and Derivatives	7. Financial Instruments and Derivatives Financial Instruments Not Carried at Fair Value Cash and cash equivalents, restricted cash and accrued expenses and other liabilities are carried at amounts that reasonably approximate their fair value due to their short term nature. Fixed rate notes payable as of June 30, 2022 and December 31, 2021 totaled $ 4.5 billion and $ 4.5 billion , respectively, and had estimated fair values of $ 4.2 billion and $ 4.8 billion (excluding prepayment penalties) as of June 30, 2022 and December 31, 2021, respectively. The fair values of fixed rate debt are determined by using the present value of future cash outflows discounted with the applicable current market rate plus a credit spread. As of June 30, 2022 and December 31, 2021 , the Company had no variable rate debt outstanding. Financial Instruments Measured at Fair Value on a Recurring Basis As of June 30, 2022 , the Company had one outstanding series of cumulative redeemable preferred stock, which is referred to as the MAA Series I preferred stock (see Note 8). The Company has recognized a derivative asset related to the redemption feature embedded in the MAA Series I preferred stock. The derivative asset is valued using widely accepted valuation techniques, including a discounted cash flow analysis in which the perpetual value of the preferred shares is compared to the value of the preferred shares assuming the call option is exercised, with the value of the bifurcated call option as the difference between the two values. The analysis reflects the contractual terms of the redeemable preferred shares, which are redeemable at the Company’s option beginning on October 1, 2026 at the redemption price of $ 50.00 per share. The Company uses various inputs in the analysis, including trading data available on the preferred shares, coupon yields on preferred stock issuances from REITs with similar credit ratings as MAA and treasury rates to determine the fair value of the bifurcated call option. The redemption feature embedded in the MAA Series I preferred stock is reported as a derivative asset in “Other assets” in the accompanying Condensed Consolidated Balance Sheets and is adjusted to its fair value at each reporting date, with a corresponding non-cash adjustment to “Other non-operating expense (income)” in the accompanying Condensed Consolidated Statements of Operations. As of June 30, 2022 and December 31, 2021, the fair value of the embedded derivative was $ 24.5 million and $ 34.5 million , respectively. The Company has determined the majority of the inputs used to value its outstanding debt and its embedded derivative fall within Level 2 of the fair value hierarchy, and as a result, the fair value valuations of its debt and embedded derivative held as of June 30, 2022 and December 31, 2021 were classified as Level 2 in the fair value hierarchy. The fair value of the Company’s marketable equity securities discussed in Note 1 is based on quoted market prices and the fair value valuation of the marketable equity securities held as of June 30, 2022 was classified as Level 1 in the fair value hierarchy. Terminated Cash Flow Hedges of Interest As of June 30, 2022, the Company had $ 10.8 million recorded in “Accumulated other comprehensive loss”, or AOCL, related to realized losses associated with terminated interest rate swaps that were designated as cash flow hedging instruments prior to their termination. The realized losses associated with the terminated interest rate swaps are reclassified to interest expense as interest payments are made on the Company’s debt and will continue to be reclassified to interest expense until the debt’s maturity. During the next twelve months, the Company estimates an additional $ 1.1 million will be reclassified to earnings as an increase to “Interest expense.” Tabular Disclosure of the Effect of Derivative Instruments on the Condensed Consolidated Statements of Operations The tables below present the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2022 and 2021 (dollars in thousands): Net Loss Reclassified from AOCL into Interest Expense Location of Loss Reclassified Three months ended June 30, Derivatives in Cash Flow Hedging Relationships from AOCL into Income 2022 2021 Terminated interest rate swaps Interest expense $ ( 277 ) $ ( 278 ) Six months ended June 30, 2022 2021 Terminated interest rate swaps Interest expense $ ( 556 ) $ ( 557 ) (Loss) Gain Recognized in Earnings on Derivative Location of (Loss) Gain Recognized Three months ended June 30, Derivative Not Designated as Hedging Instrument in Earnings on Derivative 2022 2021 Preferred stock embedded derivative Other non-operating expense (income) $ ( 21,835 ) $ 13,168 Six months ended June 30, 2022 2021 Preferred stock embedded derivative Other non-operating expense (income) $ ( 9,939 ) $ ( 1,940 )

Shareholders' Equity of MAA

Shareholders' Equity of MAA	6 Months Ended
	Jun. 30, 2022
Shareholders Equity Of M A A [Abstract]
Shareholders' Equity of MAA	8. Shareholders’ Equity of MAA As of June 30, 2022, 115,438,832 shares of common stock of MAA and 3,202,377 OP Units (excluding the OP Units held by MAA) were issued and outstanding, representing a total of 118,641,209 common shares and units. As of June 30, 2021, 114,919,922 shares of common stock of MAA and 3,618,955 OP Units (excluding the OP Units held by MAA) were issued and outstanding, representing a total of 118,538,877 common shares and units. Options to purchase 463 shares of MAA’s common stock were outstanding as of June 30, 2022, compared to 963 outstanding options as of June 30, 2021. During the six months ended June 30, 2022 and 2021, MAA issued 350 common shares and 18,882 common shares, respectively, related to the exercise of stock options. These exercises resulted in net proceeds that were negligible during the six months ended June 30, 2022 and $ 1.5 million during the six months ended June 30, 2021. Preferred Stock As of June 30, 2022, MAA had one outstanding series of cumulative redeemable preferred stock, which has the following characteristics: Description Outstanding Shares Liquidation Preference (1) Optional Redemption Date Redemption Price (2) Stated Dividend Yield Approximate Dividend Rate MAA Series I 867,846 $ 50.00 10/1/2026 $ 50.00 8.50 % $ 4.25 (1) The total liquidation preference for the outstanding preferred stock is $ 43.4 million . (2) The redemption price is the price at which the preferred stock is redeemable, at MAA’s option, for cash. See Note 7 for details of the valuation of the derivative asset related to the redemption feature embedded in the MAA Series I preferred stock. Equity Forward Sale Agreements In August 2021, MAA entered into two 18-month forward sale agreements with respect to a total of 1.1 million shares of its common stock at an initial forward sale price of $ 190.56 per share, which price is net of issuance costs. Under the forward sale agreements, the forward sale price is subject to adjustment on a daily basis based on a floating interest rate factor equal to a specified daily rate less a spread and will be decreased based on amounts related to dividends on MAA’s common stock during the term of the forward sale agreements. No shares had been settled under the forward sale agreements as of June 30, 2022. MAA generally has the ability to determine the dates and method of settlement (i.e., gross physical settlement, net share settlement or cash settlement), subject to certain conditions and the right of the counterparty to accelerate settlement under certain circumstances, provided that settlement under each forward sale agreement must occur by February 2, 2023. MAA currently expects to fully physically settle each forward sale agreement with the relevant forward purchaser on one or more dates specified by MAA on or prior to the maturity date of the particular forward sale agreement, in which case MAA expects to receive aggregate net cash proceeds at settlement equal to the number of shares underlying the particular forward sale agreement multiplied by the relevant forward sale price. For the three months ended June 30, 2022, the impact of the forward sale agreements was not dilutive to the Company’s diluted earnings per share. For the six months ended June 30, 2022 , approximately 62 thousand shares from the equity forward sale agreements were dilutive to the Company’s diluted earnings per share. At-the-Market Share Offering Program In November 2021, the Company entered into an equity distribution agreement to establish a new at-the-market, or ATM, share offering program, replacing MAA’s previous ATM program and allowing MAA to sell shares of its common stock from time to time to or through its sales agents into the existing market at current market prices, and to enter into separate forward sales agreements to or through its forward purchasers. Under its current ATM program, MAA has the authority to issue up to an aggregate of 4.0 million shares of its common stock, at such times to be determined by MAA. MAA has no obligation to issue shares through the ATM program. During the three and six months ended June 30, 2022 and 2021 , MAA did no t sell any shares of common stock under its ATM program. As of June 30, 2022 , 4.0 million shares remained issuable under the ATM program.

Partners' Capital of MAALP

Partners' Capital of MAALP	6 Months Ended
	Jun. 30, 2022
Partners' Capital Notes [Abstract]
Partners' Capital of MAALP	9. Partners’ Capital of MAALP Common units of limited partnership interests in MAALP are represented by OP Units. As of June 30, 2022, there were 118,641,209 OP Units outstanding, 115,438,832 , or 97.3 % , of which represent Class B OP Units (common units issued to or held by MAALP’s general partner or any of its subsidiaries), which were owned by MAA, MAALP’s general partner. The remaining 3,202,377 OP Units were Class A OP Units owned by Class A limited partners. As of June 30, 2021, there were 118,538,877 OP Units outstanding, 114,919,922 , or 96.9 % , of which were owned by MAA and 3,618,955 of which were owned by the Class A limited partners. MAA, as the sole general partner of MAALP, has full, complete and exclusive discretion to manage and control the business of MAALP subject to the restrictions specifically contained within MAALP’s agreement of limited partnership, or the Partnership Agreement. Unless otherwise stated in the Partnership Agreement, this power includes, but is not limited to, acquiring, leasing or disposing of any real property; constructing buildings and making other improvements to properties owned; borrowing money, modifying or extinguishing current borrowings, issuing evidence of indebtedness and securing such indebtedness by mortgage, deed of trust, pledge or other lien on MAALP’s assets; and distribution of MAALP’s cash or other assets in accordance with the Partnership Agreement. MAA can generally, at its sole discretion, issue and redeem OP Units and determine the consideration to be received or the redemption price to be paid, as applicable. The general partner may delegate these and other powers granted to it if the general partner remains in supervision of the designee. Under the Partnership Agreement, MAALP may issue Class A OP Units and Class B OP Units. Class A OP Units are any OP Units other than Class B OP Units, while Class B OP Units are those issued to or held by MAALP’s general partner or any of its subsidiaries. In general, the limited partners do not have the power to participate in the management or control of MAALP’s business except in limited circumstances, including changes in the general partner and protective rights if the general partner acts outside of the provisions provided in the Partnership Agreement. The transferability of Class A OP Units is also limited by the Partnership Agreement. Net income of MAALP (after allocations to preferred ownership interests) is allocated to the general partner and limited partners based on their respective ownership percentages of MAALP. Issuance or redemption of additional Class A OP Units or Class B OP Units changes the relative ownership percentage of the partners. The issuance of Class B OP Units generally occurs when MAA issues common stock and the proceeds from that issuance are contributed to MAALP in exchange for the issuance to MAA of a number of OP Units equal to the number of shares of common stock issued. Likewise, if MAA repurchases or redeems outstanding shares of common stock, MAALP generally redeems an equal number of Class B OP Units with similar terms held by MAA for a redemption price equal to the purchase price of those shares of common stock. At each reporting period, the allocation between general partner capital and limited partner capital is adjusted to account for the change in the respective percentage ownership of the underlying capital of MAALP. Holders of the Class A OP Units may require MAA to redeem their Class A OP Units, in which case MAA may, at its option, pay the redemption price either in cash (in an amount per Class A OP Unit equal, in general, to the average closing price of MAA’s common stock on the NYSE over a specified period prior to the redemption date) or by delivering one share of MAA common stock (subject to adjustment under specified circumstances) for each Class A OP Unit so redeemed. As of June 30, 2022, a total of 3,202,377 Class A OP Units were outstanding and redeemable for 3,202,377 shares of MAA common stock, with an approximate value of $ 559.4 million , based on the closing price of MAA’s common stock on June 30, 2022 of $ 174.67 per share. As of June 30, 2021, a total of 3,618,955 Class A OP Units were outstanding and redeemable for 3,618,955 shares of MAA common stock, with an approximate value of $ 609.5 million , based on the closing price of MAA’s common stock on June 30, 2021 of $ 168.42 per share. MAALP pays the same per unit distributions in respect to the OP Units as the per share dividends MAA pays in respect to its common stock. As of June 30, 2022, MAALP had one outstanding series of cumulative redeemable preferred units, or the MAALP Series I preferred units. The MAALP Series I preferred units have the same characteristics as the MAA Series I preferred stock described in Note 8. As of June 30, 2022, 867,846 units of the MAALP Series I preferred units were outstanding. See Note 7 for details of the valuation of the derivative asset related to the redemption feature embedded in the MAALP Series I preferred units.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2022
Loss Contingency [Abstract]
Commitments and Contingencies	10. Commitments and Contingencies Leases The Company’s operating leases include a ground lease expiring in 2074 related to one of its apartment communities and an office lease expiring in 2028 related to its corporate headquarters. Both leases contain stated rent increases that are generally intended to compensate for the impact of inflation. The Company also has other commitments related to immaterial office and equipment operating leases. As of June 30, 2022, the Company’s operating leases had a weighted average remaining lease term of approximately 32 years and a weighted average discount rate of approximately 4.4 % . The table below reconciles undiscounted cash flows for each of the first five years and total of the remaining years to the right-of-use lease liabilities recorded on the Condensed Consolidated Balance Sheets as of June 30, 2022 (in thousands): Operating Leases 2022 $ 1,459 2023 2,885 2024 2,862 2025 2,872 2026 2,920 Thereafter 59,993 Total minimum lease payments 72,991 Net present value adjustments ( 43,463 ) Right-of-use lease liabilities $ 29,528 Legal Proceedings The Company is subject to various legal proceedings and claims that arise in the ordinary course of its business operations. While the resolution of these matters cannot be predicted with certainty, management does not currently believe that these matters, either individually or in the aggregate, will have a material adverse effect on the Company’s financial condition, results of operations or cash flows in the event of a negative outcome. Matters that arise out of allegations of bodily injury, property damage and employment practices are generally covered by insurance. As of June 30, 2022 and December 31, 2021, the Company’s accrual for loss contingencies relating to unresolved legal matters was $ 2.0 million and $ 5.2 million in the aggregate, respectively. The loss contingencies are presented in “Accrued expenses and other liabilities” in the accompanying Condensed Consolidated Balance Sheets.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2022
Notes To Financial Statements [Abstract]
Segment Information	11. Segment Information As of June 30, 2022, the Company owned and operated 290 multifamily apartment communities (which does not include development communities under construction) in 15 different states from which it derived all significant sources of earnings and operating cash flows. The Company views each consolidated apartment community as an operating segment. The Company’s chief operating decision maker, which is the Company’s Chief Executive Officer, evaluates performance and determines resource allocations of each of the apartment communities on a Same Store and Non-Same Store and Other basis, as well as an individual apartment community basis. The Company has aggregated its operating segments into two reportable segments as management believes the apartment communities in each reportable segment generally have similar economic characteristics, facilities, services and residents. The following reflects the two reportable segments for the Company: • Same Store includes communities that the Company has owned and have been stabilized for at least a full 12 months as of the first day of the calendar year. • Non-Same Store and Other includes recently acquired communities, communities being developed or in lease-up, communities that have been disposed of or identified for disposition, communities that have experienced a significant casualty loss and stabilized communities that do not meet the requirements to be Same Store communities. Also included in Non-Same Store and Other are non-multifamily activities. On the first day of each calendar year, the Company determines the composition of its Same Store and Non-Same Store and Other reportable segments for that year as well as adjusts the previous year, which allows the Company to evaluate full period-over-period operating comparisons. Communities previously in development or lease-up are added to the Same Store segment on the first day of the calendar year after the community has been owned and stabilized for at least a full 12 month s. Communities are considered stabilized when achieving 90 % average physical occupancy for 90 days . The chief operating decision maker utilizes net operating income, or NOI, in evaluating the performance of its operating segments. Total NOI represents total property revenues less total property operating expenses, excluding depreciation and amortization, for all properties held during the period regardless of their status as held for sale. Management believes that NOI is a helpful tool in evaluating the operating performance of the segments because it measures the core operations of property performance by excluding corporate level expenses and other items not directly related to property operating performance. Revenues and NOI for each reportable segment for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Revenues: Same Store Rental revenues $ 468,427 $ 412,079 $ 920,143 $ 814,273 Other property revenues 3,733 3,324 6,494 6,276 Total Same Store revenues 472,160 415,403 926,637 820,549 Non-Same Store and Other Rental revenues 22,705 21,088 44,104 40,675 Other property revenues 175 436 377 708 Total Non-Same Store and Other revenues 22,880 21,524 44,481 41,383 Total rental and other property revenues $ 495,040 $ 436,927 $ 971,118 $ 861,932 Net Operating Income: Same Store NOI $ 300,238 $ 256,325 $ 594,880 $ 508,265 Non-Same Store and Other NOI 13,125 11,841 25,141 22,438 Total NOI 313,363 268,166 620,021 530,703 Depreciation and amortization ( 134,144 ) ( 131,824 ) ( 267,882 ) ( 263,327 ) Property management expenses ( 15,630 ) ( 13,752 ) ( 32,167 ) ( 26,691 ) General and administrative expenses ( 15,580 ) ( 13,114 ) ( 31,903 ) ( 26,093 ) Interest expense ( 38,905 ) ( 38,867 ) ( 78,026 ) ( 78,539 ) Gain on sale of depreciable real estate assets 131,965 134,828 131,964 134,828 Gain on sale of non-depreciable real estate assets 355 32 378 32 Other non-operating (expense) income ( 28,325 ) 20,126 ( 17,530 ) 4,213 Income tax benefit (expense) 3,052 ( 2,045 ) 4,494 ( 3,044 ) Income from real estate joint venture 409 325 788 657 Net income attributable to noncontrolling interests ( 5,858 ) ( 7,397 ) ( 8,633 ) ( 9,068 ) Dividends to MAA Series I preferred shareholders ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAA common shareholders $ 209,780 $ 215,556 $ 319,660 $ 261,827 Assets for each reportable segment as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 Assets: Same Store $ 9,798,283 $ 9,907,740 Non-Same Store and Other 1,125,506 1,106,039 Corporate assets 356,612 271,403 Total assets $ 11,280,401 $ 11,285,182

Real Estate Acquisition and Dis

Real Estate Acquisition and Disposition	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Real Estate Acquisitions and Dispositions	12. Real Estate Acquisitions and Dispositions The following table reflects the Company ’s acquisition activity for the six months ended June 30, 2022: Land Acquisitions Market Acres Date Acquired MAA Florida Street Station Denver, CO 4 March 2022 MAA Packing District Orlando, FL 4 May 2022 The following table reflects the Company’s disposition activity for the six months ended June 30, 2022: Multifamily Dispositions Market Units Date Sold MAA Deer Run Fort Worth, TX 304 June 2022 MAA Oakbend Fort Worth, TX 426 June 2022 Land Disposition Market Acres Date Sold Colonial Promenade Huntsville, AL 2 April 2022

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
Subsequent Events	13. Subsequent Events In July 2022, MAA acquired a 196-unit multifamily apartment community located in the Tampa, Florida market and a 6 acre land parcel located in the Denver, Colorado market.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation The accompanying condensed consolidated financial statements have been prepared by the Company’s management in accordance with United States generally accepted accounting principles, or GAAP, and applicable rules and regulations of the Securities and Exchange Commission, or the SEC. The condensed consolidated financial statements of MAA presented herein include the accounts of MAA, the Operating Partnership and all other subsidiaries in which MAA has a controlling financial interest. MAA owns, directly or indirectly, approximately 80 % to 100 % of all consolidated subsidiaries, including the Operating Partnership. In management’s opinion, all adjustments necessary for a fair presentation of the condensed consolidated financial statements have been included, and all such adjustments were of a normal recurring nature. All significant intercompany accounts and transactions have been eliminated in consolidation. The Company invests in entities that may qualify as variable interest entities, or VIEs, and MAALP is considered a VIE. A VIE is a legal entity in which the equity investors lack sufficient equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the holders of the equity investment at risk lack the power to direct the activities of a legal entity as well as the obligation to absorb its expected losses or the right to receive its expected residual returns. MAALP is classified as a VIE because the limited partners lack substantive kick-out rights and substantive participating rights. The Company consolidates all VIEs for which it is the primary beneficiary and uses the equity method to account for investments that qualify as VIEs but for which it is not the primary beneficiary. In determining whether the Company is the primary beneficiary of a VIE, management considers both qualitative and quantitative factors, including, but not limited to, those activities that most significantly impact the VIE’s economic performance and which party controls such activities. The Company uses the equity method of accounting for its investments in entities for which the Company exercises significant influence, but does not have the ability to exercise control. The factors considered in determining whether the Company has the ability to exercise control include ownership of voting interests and participatory rights of investors (see “Investments in Unconsolidated Affiliates” below).
Noncontrolling Interests	Noncontrolling Interests As of June 30, 2022, the Company had two types of noncontrolling interests with respect to its consolidated subsidiaries: (1) noncontrolling interests related to the common unitholders of its Operating Partnership; and (2) noncontrolling interests related to its consolidated real estate entities. The noncontrolling interests relating to the limited partnership interests in the Operating Partnership are owned by the holders of the Class A OP Units. MAA is the sole general partner of the Operating Partnership and holds all of the outstanding Class B OP Units. Net income (after allocations to preferred ownership interests) is allocated to MAA and the noncontrolling interests based on their respective ownership percentages of the Operating Partnership. Issuance of additional Class A OP Units or Class B OP Units changes the ownership percentage of both the noncontrolling interests and MAA. The issuance of Class B OP Units generally occurs when MAA issues common stock and the issuance proceeds are contributed to the Operating Partnership in exchange for Class B OP Units equal to the number of shares of MAA’s common stock issued. At each reporting period, the allocation between total MAA shareholders’ equity and noncontrolling interests is adjusted to account for the change in the respective percentage ownership of the underlying equity of the Operating Partnership. MAA’s Board of Directors established economic rights in respect to each Class A OP Unit that were equivalent to the economic rights in respect to each share of MAA common stock. See Note 9 for additional details. The noncontrolling interests relating to the Company’s four consolidated real estate entities are owned by private real estate companies that are generally responsible for the development, construction and lease-up of the apartment communities that are owned through the consolidated real estate entities with a noncontrolling interest. The entities were determined to be VIE’s with the Company designated as the primary beneficiary. As a result, the accounts of the entities are consolidated by the Company. As of June 30, 2022, the consolidated assets of the Company’s consolidated real estate entities with a noncontrolling interest were $ 218.5 million , and consolidated liabilities were $ 14.7 million . As of December 31, 2021, the consolidated assets of the Company’s consolidated real estate entities with a noncontrolling interest were $ 252.8 million , and consolidated liabilities were $ 15.9 million . During the six months ended June 30, 2022 , the Company paid $ 43.1 million to acquire the noncontrolling interest of one consolidated real estate entity.
Investments in Unconsolidated Affiliates	Investments in Unconsolidated Affiliates The Company uses the equity method to account for its investments in a real estate joint venture and three technology-focused limited partnerships that each qualify as a VIE. Management determined the Company is not the primary beneficiary in any of these investments but does have the ability to exert significant influence over the operations and financial policies of the real estate joint venture and considers its investments in the limited partnerships to be more than minor. The Company’s investment in the real estate joint venture was $ 42.5 million and $ 42.8 million as of June 30, 2022 and December 31, 2021, respectively. The Company accounts for its investments in the technology-focused limited partnerships on a three month lag due to the timing the limited partnerships’ financial information is made available to the Company. As of June 30, 2022 and December 31, 2021, the Company’s investments in the limited partnerships were $ 44.6 million and $ 79.4 million , respectively, and are included in “Other assets” in the accompanying Condensed Consolidated Balance Sheets. The decrease in the Company’s investment in the limited partnerships was driven by the recognition of unrealized losses, which were primarily a result of a decrease in the valuation of an underlying investment that recently became publicly traded. As of June 30, 2022, the Company was committed to make additional capital contributions totaling $ 31.7 million if and when called by the general partners of the limited partnerships.
Marketable Equity Securities	Marketable Equity Securities During the six months ended June 30, 2022, two of the technology-focused limited partnerships that are accounted for as unconsolidated affiliates distributed publicly traded marketable equity securities to the Company and the other limited partners. The Company’s investment in marketable equity securities is measured at fair value based on the quoted share price of the securities, with any related gains and losses, including unrealized gains and losses, recognized in “Other non-operating expense (income)” in the accompanying Condensed Consolidated Statements of Operations. As of June 30, 2022, the Company’s investment in the marketable equity securities was $ 9.8 million.
Revenue Recognition	Revenue Recognition The Company primarily leases multifamily residential apartments to residents under operating leases generally due on a monthly basis with terms of approximately one year or less. Rental revenues are recognized in accordance with ASC Topic 842, Leases , using a method that represents a straight-line basis over the term of the lease. In addition, in circumstances where a lease incentive is provided to residents, the incentive is recognized as a reduction of rental revenues on a straight-line basis over the reasonably assured lease term. Rental revenues represent approximately 94 % of the Company’s total revenues and include gross rents charged less adjustments for concessions and bad debt. Approximately 5 % of the Company’s total revenues represent non-lease reimbursable property revenues from its residents for utility reimbursements, which are generally recognized and due on a monthly basis as residents obtain control of the service over the term of the lease. The remaining 1 % of the Company’s total revenues represents other non-lease property revenues primarily driven by nonrefundable fees and commissions which are recognized when earned. In accordance with ASC Topic 842, rental revenues and non-lease reimbursable property revenues meet the criteria to be aggregated into a single lease component and are reported on a combined basis in the line item “Rental revenues,” as presented in the disaggregation of the Company’s revenues in Note 11. Other non-lease property revenues are accounted for in accordance with ASC Topic 606, Revenue from Contracts with Customers , which requires revenue recognized outside of the scope of ASC Topic 842 to be recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration the entity expects to receive in exchange for those goods or services. Other non-lease property revenues are reported in the line item “Other property revenues”, as presented in the disaggregation of the Company’s revenues in Note 11.
Leases	Leases The Company is the lessee under certain ground, office, equipment and other operational leases, all of which are accounted for as operating leases in accordance with ASC Topic 842. The Company recognizes a right-of-use asset for the right to use the underlying asset for all leases where the Company is the lessee with terms of more than twelve months, and a related lease liability for the obligation to make lease payments. Expenses related to leases determined to be operating leases are recognized on a straight-line basis. As of June 30, 2022 and December 31, 2021, right-of-use assets recorded within “Other assets” totaled $ 45.9 million and $ 47.0 million , respectively, and related lease liabilities recorded within “Accrued expenses and other liabilities” totaled $ 29.5 million and $ 30.3 million , respectively, in the Condensed Consolidated Balance Sheets. Lease expense recognized for the three and six months ended June 30, 2022 and 2021 was immaterial to the Company. Cash paid for amounts included in the measurement of operating lease liabilities during the six months ended June 30, 2022 and 2021 was also immaterial. See Note 10 for additional disclosures regarding leases.
Fair value Measurements	Fair Value Measurements The Company applies the guidance in Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures , to the valuation of real estate assets recorded at fair value, to its impairment valuation analysis of real estate assets and to its valuation and disclosure of the fair value of financial instruments, which primarily consists of marketable equity securities, indebtedness and derivative instruments. Fair value disclosures required under ASC Topic 820 as well as the Company’s derivative accounting policies are summarized in Note 7 utilizing the following hierarchy: Level 1 - Quoted prices in active markets for identical assets or liabilities that are accessible at the measurement date. Level 2 - Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. Level 3 - Unobservable inputs for the assets or liability.

Earnings Per Common Share of _2

Earnings Per Common Share of MAA (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Common Share Of M A A [Abstract]
Schedule of Computation of Earnings Per Share	For the three and six months ended June 30, 2022 and 2021, MAA’s diluted earnings per share was computed using the treasury stock method as presented below (dollars and shares in thousands, except per share amounts): Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Calculation of Earnings per common share - basic Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net income attributable to noncontrolling interests ( 5,858 ) ( 7,397 ) ( 8,633 ) ( 9,068 ) Unvested restricted shares (allocation of earnings) ( 149 ) ( 234 ) ( 228 ) ( 294 ) Preferred dividends ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAA common shareholders, adjusted $ 209,631 $ 215,322 $ 319,432 $ 261,533 Weighted average common shares - basic 115,353 114,494 115,306 114,379 Earnings per common share - basic $ 1.82 $ 1.88 $ 2.77 $ 2.29 Calculation of Earnings per common share - diluted Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net income attributable to noncontrolling interests (1) ( 5,858 ) ( 7,397 ) ( 8,633 ) ( 9,068 ) Preferred dividends ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAA common shareholders, adjusted $ 209,780 $ 215,556 $ 319,660 $ 261,827 Weighted average common shares - basic 115,353 114,494 115,306 114,379 Effect of dilutive securities 203 318 336 311 Weighted average common shares - diluted 115,556 114,812 115,642 114,690 Earnings per common share - diluted $ 1.82 $ 1.88 $ 2.76 $ 2.28 (1) For the three and six months ended June 30, 2022, 3.2 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. For the three and six months ended June 30, 2021, 3.9 million OP Units and 4.0 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.

Earnings Per OP Unit of MAALP (

Earnings Per OP Unit of MAALP (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Common Unit	For the three and six months ended June 30, 2022 and 2021, MAALP’s diluted earnings per common unit was computed using the treasury stock method as presented below (dollars and units in thousands, except per unit amounts): Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Calculation of Earnings per common unit - basic Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net loss attributable to noncontrolling interests — — 293 — Unvested restricted units (allocation of earnings) ( 149 ) ( 234 ) ( 228 ) ( 294 ) Preferred unit distributions ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAALP common unitholders, adjusted $ 215,489 $ 222,719 $ 328,358 $ 270,601 Weighted average common units - basic 118,555 118,411 118,509 118,365 Earnings per common unit - basic $ 1.82 $ 1.88 $ 2.77 $ 2.29 Calculation of Earnings per common unit - diluted Net income $ 216,560 $ 223,875 $ 330,137 $ 272,739 Net loss attributable to noncontrolling interests — — 293 — Preferred unit distributions ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAALP common unitholders, adjusted $ 215,638 $ 222,953 $ 328,586 $ 270,895 Weighted average common units - basic 118,555 118,411 118,509 118,365 Effect of dilutive securities 203 318 336 311 Weighted average common units - diluted 118,758 118,729 118,845 118,676 Earnings per common unit - diluted $ 1.82 $ 1.88 $ 2.76 $ 2.28

MAA Equity (Tables)

MAA Equity (Tables)	6 Months Ended
	Jun. 30, 2022
M A A Equity [Abstract]
Summary of Changes in Total Equity and its Components	Changes in MAA’s total equity and its components for the three months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE MARCH 31, 2022 $ 9 $ 1,151 $ 7,198,474 $ ( 1,268,827 ) $ ( 10,860 ) $ 163,566 $ 19,849 $ 6,103,362 Net income — — — 210,702 — 5,858 — 216,560 Other comprehensive income - derivative — — — — 269 8 — 277 Issuance and registration of common shares — 1 ( 454 ) — — — — ( 453 ) Shares repurchased and retired — — ( 10,869 ) — — — — ( 10,869 ) Redeemable stock fair market value adjustment — — — 4,227 — — — 4,227 Adjustment for noncontrolling interests in — — 368 — — ( 368 ) — — Amortization of unearned compensation — — 4,401 — — — — 4,401 Dividends on preferred stock — — — ( 922 ) — — — ( 922 ) Dividends on common stock ($ 1.2500 per — — — ( 144,396 ) — — — ( 144,396 ) Dividends on noncontrolling interests units 1.2500 per share) — — — — — ( 4,002 ) — ( 4,002 ) Distribution to noncontrolling interest — — — — — — ( 69 ) ( 69 ) EQUITY BALANCE JUNE 30, 2022 $ 9 $ 1,152 $ 7,191,920 $ ( 1,199,216 ) $ ( 10,591 ) $ 165,062 $ 19,780 $ 6,168,116 Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE MARCH 31, 2021 $ 9 $ 1,142 $ 7,182,771 $ ( 1,367,347 ) $ ( 11,859 ) $ 204,336 $ 10,481 $ 6,019,533 Net income — — — 216,478 — 7,397 — 223,875 Other comprehensive income - derivative — — — — 227 51 — 278 Issuance and registration of common shares — 1 ( 468 ) — — — — ( 467 ) Shares repurchased and retired — — ( 7,313 ) — — — — ( 7,313 ) Shares issued in exchange for common units — 4 21,928 — — ( 21,932 ) — — Redeemable stock fair market value adjustment — — — ( 3,031 ) — — — ( 3,031 ) Adjustment for noncontrolling interests in — — 816 — — ( 816 ) — — Amortization of unearned compensation — — 4,151 — — — — 4,151 Dividends on preferred stock — — — ( 922 ) — — — ( 922 ) Dividends on common stock ($ 1.0250 per — — — ( 117,872 ) — — — ( 117,872 ) Dividends on noncontrolling interests units 1.0250 per share) — — — — — ( 3,696 ) — ( 3,696 ) Contribution from noncontrolling interest — — — — — — 6,131 6,131 EQUITY BALANCE JUNE 30, 2021 $ 9 $ 1,147 $ 7,201,885 $ ( 1,272,694 ) $ ( 11,632 ) $ 185,340 $ 16,612 $ 6,120,667 Changes in MAA’s total equity and its components for the six months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE DECEMBER 31, 2021 $ 9 $ 1,151 $ 7,230,956 $ ( 1,255,807 ) $ ( 11,132 ) $ 165,116 $ 23,614 $ 6,153,907 Net income (loss) — — — 321,504 — 8,926 ( 293 ) 330,137 Other comprehensive income - derivative — — — — 541 15 — 556 Issuance and registration of common shares — 1 ( 433 ) — — — — ( 432 ) Shares repurchased and retired — — ( 14,031 ) — — — — ( 14,031 ) Exercise of stock options — — 28 — — — — 28 Shares issued in exchange for common units — — 193 — — ( 193 ) — — Redeemable stock fair market value adjustment — — — 6,760 — — — 6,760 Adjustment for noncontrolling interests in — — 1,321 — — ( 1,321 ) — — Amortization of unearned compensation — — 11,329 — — — — 11,329 Dividends on preferred stock — — ( 1,844 ) — — — ( 1,844 ) Dividends on common stock ($ 2.3375 per — — — ( 269,829 ) — — — ( 269,829 ) Dividends on noncontrolling interests units 2.3375 per share) — — — — — ( 7,481 ) — ( 7,481 ) Acquisition of noncontrolling interest — — ( 37,443 ) — — — ( 5,627 ) ( 43,070 ) Contribution from noncontrolling interest — — — — — — 2,086 2,086 EQUITY BALANCE JUNE 30, 2022 $ 9 $ 1,152 $ 7,191,920 $ ( 1,199,216 ) $ ( 10,591 ) $ 165,062 $ 19,780 $ 6,168,116 Mid-America Apartment Communities, Inc. Shareholders’ Equity Preferred Common Additional Accumulated Accumulated Noncontrolling Noncontrolling Total EQUITY BALANCE DECEMBER 31, 2020 $ 9 $ 1,141 $ 7,176,793 $ ( 1,294,182 ) $ ( 12,128 ) $ 206,927 $ 9,848 $ 6,088,408 Net income — — — 263,671 — 9,068 — 272,739 Other comprehensive income - derivative — — — — 496 61 — 557 Issuance and registration of common shares — 2 ( 335 ) — — — — ( 333 ) Shares repurchased and retired — — ( 9,043 ) — — — — ( 9,043 ) Exercise of stock options — — 1,466 — — — — 1,466 Shares issued in exchange for common units — 4 22,160 — — ( 22,164 ) — — Redeemable stock fair market value adjustment — — — ( 5,189 ) — — — ( 5,189 ) Adjustment for noncontrolling interests in — — 700 — — ( 700 ) — — Amortization of unearned compensation — — 10,144 — — — — 10,144 Dividends on preferred stock — — — ( 1,844 ) — — — ( 1,844 ) Dividends on common stock ($ 2.0500 per — — — ( 235,150 ) — — — ( 235,150 ) Dividends on noncontrolling interests units 2.0500 per share) — — — — — ( 7,852 ) — ( 7,852 ) Contribution from noncontrolling interest — — — — — — 6,764 6,764 EQUITY BALANCE JUNE 30, 2021 $ 9 $ 1,147 $ 7,201,885 $ ( 1,272,694 ) $ ( 11,632 ) $ 185,340 $ 16,612 $ 6,120,667

MAALP Capital (Tables)

MAALP Capital (Tables)	6 Months Ended
	Jun. 30, 2022
M A A L P Capital [Abstract]
Summary of Changes in Total Capital and its Components	Changes in MAALP’s total capital and its components for the three months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE MARCH 31, 2022 $ 66,840 $ 5,864,191 $ 163,566 $ ( 11,103 ) $ 19,849 $ 6,103,343 Net income 922 209,780 5,858 — — 216,560 Other comprehensive income - derivative instruments — — — 277 — 277 Issuance of units — ( 453 ) — — — ( 453 ) Units repurchased and retired — ( 10,869 ) — — — ( 10,869 ) Redeemable units fair market value adjustment — 4,227 — — — 4,227 Adjustment for limited partners’ capital at redemption value — 360 ( 360 ) — — — Amortization of unearned compensation — 4,401 — — — 4,401 Distributions to preferred unitholders ( 922 ) — — — — ( 922 ) Distributions to common unitholders ($ 1.2500 per unit) — ( 144,396 ) ( 4,002 ) — — ( 148,398 ) Distribution to noncontrolling interest — — — — ( 69 ) ( 69 ) CAPITAL BALANCE JUNE 30, 2022 $ 66,840 $ 5,927,241 $ 165,062 $ ( 10,826 ) $ 19,780 $ 6,168,097 Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE MARCH 31, 2021 $ 66,840 $ 5,750,074 $ 204,336 $ ( 12,217 ) $ 10,481 $ 6,019,514 Net income 922 215,556 7,397 — — 223,875 Other comprehensive income - derivative instruments — — — 278 — 278 Issuance of units — ( 467 ) — — — ( 467 ) Units repurchased and retired — ( 7,313 ) — — — ( 7,313 ) General partnership units issued in exchange for limited — 21,932 ( 21,932 ) — — — Redeemable units fair market value adjustment — ( 3,031 ) — — — ( 3,031 ) Adjustment for limited partners’ capital at redemption value — 765 ( 765 ) — — — Amortization of unearned compensation — 4,151 — — — 4,151 Distributions to preferred unitholders ( 922 ) — — — — ( 922 ) Distributions to common unitholders ($ 1.0250 per unit) — ( 117,872 ) ( 3,696 ) — — ( 121,568 ) Contribution from noncontrolling interest — — — — 6,131 6,131 CAPITAL BALANCE JUNE 30, 2021 $ 66,840 $ 5,863,795 $ 185,340 $ ( 11,939 ) $ 16,612 $ 6,120,648 Changes in MAALP’s total capital and its components for the six months ended June 30, 2022 and 2021 were as follows (dollars in thousands): Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE DECEMBER 31, 2021 $ 66,840 $ 5,909,700 $ 165,116 $ ( 11,382 ) $ 23,614 $ 6,153,888 Net income (loss) 1,844 319,660 8,926 — ( 293 ) 330,137 Other comprehensive income - derivative instruments — — — 556 — 556 Issuance of units — ( 432 ) — — — ( 432 ) Units repurchased and retired — ( 14,031 ) — — — ( 14,031 ) Exercise of unit options — 28 — — — 28 General partnership units issued in exchange for limited — 193 ( 193 ) — — — Redeemable units fair market value adjustment — 6,760 — — — 6,760 Adjustment for limited partners’ capital at redemption value — 1,306 ( 1,306 ) — — — Amortization of unearned compensation — 11,329 — — — 11,329 Distributions to preferred unitholders ( 1,844 ) — — — — ( 1,844 ) Distributions to common unitholders ($ 2.3375 per unit) — ( 269,829 ) ( 7,481 ) — — ( 277,310 ) Acquisition of noncontrolling interest — ( 37,443 ) — — ( 5,627 ) ( 43,070 ) Contribution from noncontrolling interest — — — — 2,086 2,086 CAPITAL BALANCE JUNE 30, 2022 $ 66,840 $ 5,927,241 $ 165,062 $ ( 10,826 ) $ 19,780 $ 6,168,097 Mid-America Apartments, L.P. Unitholders’ Capital Preferred General Limited Accumulated Noncontrolling Total CAPITAL BALANCE DECEMBER 31, 2020 $ 66,840 $ 5,817,270 $ 206,927 $ ( 12,496 ) $ 9,848 $ 6,088,389 Net income 1,844 261,827 9,068 — — 272,739 Other comprehensive income - derivative instruments — — — 557 — 557 Issuance of units — ( 333 ) — — — ( 333 ) Units repurchased and retired — ( 9,043 ) — — — ( 9,043 ) Exercise of unit options — 1,466 — — — 1,466 General partnership units issued in exchange for limited — 22,164 ( 22,164 ) — — — Redeemable units fair market value adjustment — ( 5,189 ) — — — ( 5,189 ) Adjustment for limited partners’ capital at redemption value — 639 ( 639 ) — — — Amortization of unearned compensation — 10,144 — — — 10,144 Distributions to preferred unitholders ( 1,844 ) — — — — ( 1,844 ) Distributions to common unitholders ($ 2.0500 per unit) — ( 235,150 ) ( 7,852 ) — — ( 243,002 ) Contribution from noncontrolling interest — — — — 6,764 6,764 CAPITAL BALANCE JUNE 30, 2021 $ 66,840 $ 5,863,795 $ 185,340 $ ( 11,939 ) $ 16,612 $ 6,120,648

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended
	Jun. 30, 2022
Debt Disclosure [Abstract]
Summary of Outstanding Debt	The following table summarizes the Company’s outstanding debt as of June 30, 2022 (dollars in thousands): Balance Weighted Average Effective Rate Weighted Average Contract Maturity Unsecured debt Fixed rate senior notes $ 4,175,000 3.3 % 3/4/2029 Debt issuance costs, discounts, premiums and fair market value adjustments ( 21,350 ) Total unsecured debt $ 4,153,650 3.3 % Secured debt Fixed rate property mortgages $ 367,864 4.4 % 10/10/2048 Debt issuance costs ( 3,200 ) Total secured debt $ 364,664 4.4 % Total outstanding debt $ 4,518,314 3.4 %

Financial Instruments and Der_2

Financial Instruments and Derivatives (Tables)	6 Months Ended
	Jun. 30, 2022
Fair Value Disclosures [Abstract]
Effect of Derivative Instruments on Consolidated Statement of Operations	The tables below present the effect of the Company’s derivative financial instruments on the Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2022 and 2021 (dollars in thousands): Net Loss Reclassified from AOCL into Interest Expense Location of Loss Reclassified Three months ended June 30, Derivatives in Cash Flow Hedging Relationships from AOCL into Income 2022 2021 Terminated interest rate swaps Interest expense $ ( 277 ) $ ( 278 ) Six months ended June 30, 2022 2021 Terminated interest rate swaps Interest expense $ ( 556 ) $ ( 557 ) (Loss) Gain Recognized in Earnings on Derivative Location of (Loss) Gain Recognized Three months ended June 30, Derivative Not Designated as Hedging Instrument in Earnings on Derivative 2022 2021 Preferred stock embedded derivative Other non-operating expense (income) $ ( 21,835 ) $ 13,168 Six months ended June 30, 2022 2021 Preferred stock embedded derivative Other non-operating expense (income) $ ( 9,939 ) $ ( 1,940 )

Shareholders' Equity of MAA (Ta

Shareholders' Equity of MAA (Tables)	6 Months Ended
	Jun. 30, 2022
Shareholders Equity Of M A A [Abstract]
Schedule of Cumulative Redeemable Preferred Stock	As of June 30, 2022, MAA had one outstanding series of cumulative redeemable preferred stock, which has the following characteristics: Description Outstanding Shares Liquidation Preference (1) Optional Redemption Date Redemption Price (2) Stated Dividend Yield Approximate Dividend Rate MAA Series I 867,846 $ 50.00 10/1/2026 $ 50.00 8.50 % $ 4.25 (1) The total liquidation preference for the outstanding preferred stock is $ 43.4 million . (2) The redemption price is the price at which the preferred stock is redeemable, at MAA’s option, for cash.

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2022
Loss Contingency [Abstract]
Schedule of Right of Use Lease Obligations	The table below reconciles undiscounted cash flows for each of the first five years and total of the remaining years to the right-of-use lease liabilities recorded on the Condensed Consolidated Balance Sheets as of June 30, 2022 (in thousands): Operating Leases 2022 $ 1,459 2023 2,885 2024 2,862 2025 2,872 2026 2,920 Thereafter 59,993 Total minimum lease payments 72,991 Net present value adjustments ( 43,463 ) Right-of-use lease liabilities $ 29,528

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2022
Notes To Financial Statements [Abstract]
Revenues and NOI for Reportable Segment	Revenues and NOI for each reportable segment for the three and six months ended June 30, 2022 and 2021 were as follows (in thousands): Three months ended June 30, Six months ended June 30, 2022 2021 2022 2021 Revenues: Same Store Rental revenues $ 468,427 $ 412,079 $ 920,143 $ 814,273 Other property revenues 3,733 3,324 6,494 6,276 Total Same Store revenues 472,160 415,403 926,637 820,549 Non-Same Store and Other Rental revenues 22,705 21,088 44,104 40,675 Other property revenues 175 436 377 708 Total Non-Same Store and Other revenues 22,880 21,524 44,481 41,383 Total rental and other property revenues $ 495,040 $ 436,927 $ 971,118 $ 861,932 Net Operating Income: Same Store NOI $ 300,238 $ 256,325 $ 594,880 $ 508,265 Non-Same Store and Other NOI 13,125 11,841 25,141 22,438 Total NOI 313,363 268,166 620,021 530,703 Depreciation and amortization ( 134,144 ) ( 131,824 ) ( 267,882 ) ( 263,327 ) Property management expenses ( 15,630 ) ( 13,752 ) ( 32,167 ) ( 26,691 ) General and administrative expenses ( 15,580 ) ( 13,114 ) ( 31,903 ) ( 26,093 ) Interest expense ( 38,905 ) ( 38,867 ) ( 78,026 ) ( 78,539 ) Gain on sale of depreciable real estate assets 131,965 134,828 131,964 134,828 Gain on sale of non-depreciable real estate assets 355 32 378 32 Other non-operating (expense) income ( 28,325 ) 20,126 ( 17,530 ) 4,213 Income tax benefit (expense) 3,052 ( 2,045 ) 4,494 ( 3,044 ) Income from real estate joint venture 409 325 788 657 Net income attributable to noncontrolling interests ( 5,858 ) ( 7,397 ) ( 8,633 ) ( 9,068 ) Dividends to MAA Series I preferred shareholders ( 922 ) ( 922 ) ( 1,844 ) ( 1,844 ) Net income available for MAA common shareholders $ 209,780 $ 215,556 $ 319,660 $ 261,827
Assets for Reportable Segment	Assets for each reportable segment as of June 30, 2022 and December 31, 2021 were as follows (in thousands): June 30, 2022 December 31, 2021 Assets: Same Store $ 9,798,283 $ 9,907,740 Non-Same Store and Other 1,125,506 1,106,039 Corporate assets 356,612 271,403 Total assets $ 11,280,401 $ 11,285,182

Real Estate Acquisitions and Di

Real Estate Acquisitions and Dispositions (Tables)	6 Months Ended
	Jun. 30, 2022
Real Estate [Abstract]
Schedule of Real Estate Asset Acquisitions and Dispositions	The following table reflects the Company ’s acquisition activity for the six months ended June 30, 2022: Land Acquisitions Market Acres Date Acquired MAA Florida Street Station Denver, CO 4 March 2022 MAA Packing District Orlando, FL 4 May 2022 The following table reflects the Company’s disposition activity for the six months ended June 30, 2022: Multifamily Dispositions Market Units Date Sold MAA Deer Run Fort Worth, TX 304 June 2022 MAA Oakbend Fort Worth, TX 426 June 2022 Land Disposition Market Acres Date Sold Colonial Promenade Huntsville, AL 2 April 2022

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($) Properties Property State Community shares	Jun. 30, 2021 shares	Dec. 31, 2024 Property	Dec. 31, 2023 Property	Dec. 31, 2022 Property	Dec. 31, 2021 USD ($) shares
Real Estate Properties [Line Items]
General Partners' Capital Account, Units Outstanding | shares	115,438,832	114,919,922
Number of Real Estate Properties | Community	290
Development and capital improvements in progress	$ 267,691					$ 247,970
Number of States in which Entity Operates | State	16
Consolidated assets	$ 11,280,401					11,285,182
Consolidated liabilities	5,089,882					5,101,090
Real Estate Investments, Joint Ventures	$ 31,700
Percentage Of Rental Revenue From Leasing Of Apartment Homes	94%
Percentage Of Reimbursable Revenue From Leasing Of Apartment Homes	5%
Percentage of Rental Revenue and Other Income From Non-leasing Activities	1%
Operating Lease, Right-of-Use Asset	$ 45,900					47,000
Right-of-use Lease, Liability	29,528					30,300
Marketable equity securities	$ 9,800
Operating lease weighted average remaining lease term	32 years
Operating lease weighted average discount rate	4.40%
Other Assets [Member]
Real Estate Properties [Line Items]
Real Estate Investments, Joint Ventures	$ 44,600					79,400
Real Estate [Member]
Real Estate Properties [Line Items]
Cash proceeds	43,100
Real Estate [Member] | Post Massachusetts Avenue [Member]
Real Estate Properties [Line Items]
Real Estate Investments, Joint Ventures	$ 42,500					$ 42,800
Maximum [Member] | Accounting Standards Update 2016-02 [Member]
Real Estate Properties [Line Items]
Operating lease, term of contract	1 year
Development Properties [Member]
Real Estate Properties [Line Items]
Number of Real Estate Properties | Community	5
Number of units under development community | Properties	1,759
Development Properties [Member] | Expected Costs
Real Estate Properties [Line Items]
Development and capital improvements in progress	$ 444,000
Development Properties [Member] | Scenario Forecast [Member]
Real Estate Properties [Line Items]
Number of Real Estate Properties | Property			1	3	1
Retail
Real Estate Properties [Line Items]
Number of Real Estate Properties | Property	33
M A A L P
Real Estate Properties [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	97.30%	96.90%
Limited Partnership [Member]
Real Estate Properties [Line Items]
General Partners' Capital Account, Units Outstanding | shares	115,438,832					115,336,876
Number of Real Estate Properties | Property	1
Development and capital improvements in progress	$ 267,691					$ 247,970
Consolidated assets	11,280,401					11,285,182
Consolidated liabilities	5,089,901					5,101,109
Limited Partnership [Member] | Real Estate [Member] | Variable Interest Entity Primary Beneficiary [Member]
Real Estate Properties [Line Items]
Consolidated assets	218,500					252,800
Consolidated liabilities	$ 14,700					$ 15,900
Limited Partnership [Member] | Minimum [Member]
Real Estate Properties [Line Items]
Percentage of ownership interests of all consolidated subsidiaries (percent)	80%
Limited Partnership [Member] | Maximum [Member]
Real Estate Properties [Line Items]
Percentage of ownership interests of all consolidated subsidiaries (percent)	100%
Limited Partnership [Member] | Development Properties [Member] | Costs Incurred To Date
Real Estate Properties [Line Items]
Development and capital improvements in progress	$ 230,400

Earnings Per Common Share of _3

Earnings Per Common Share of MAA - Schedule of Computation of Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share Disclosure [Line Items]
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest		$ 216,560	$ 223,875	$ 330,137	$ 272,739
Income from continuing operations attributable to noncontrolling interests		(5,858)	(7,397)	(8,633)	(9,068)
Income from continuing operations allocated to unvested restricted shares		(149)	(234)	(228)	(294)
Dividends, Preferred Stock, Cash		(922)	(922)	(1,844)	(1,844)
Income from continuing operations available for common shareholders, adjusted		$ 209,631	$ 215,322	$ 319,432	$ 261,533
Weighted average common shares - basic		115,353	114,494	115,306	114,379
Earnings per share - basic		$ 1.82	$ 1.88	$ 2.77	$ 2.29
Income from Continuing Operations, Including Portion Attributable to Noncontrolling Interest		$ 216,560	$ 223,875	$ 330,137	$ 272,739
Income from continuing operations attributable to noncontrolling interests	[1]	(5,858)	(7,397)	(8,633)	(9,068)
Net income available for MAA common shareholders, adjusted		$ 209,780	$ 215,556	$ 319,660	$ 261,827
Effect of dilutive securities		203	318	336	311
Weighted average common shares - diluted		115,556	114,812	115,642	114,690
Earnings per common share - diluted		$ 1.82	$ 1.88	$ 2.76	$ 2.28
Limited Partnership Units [Member]
Earnings Per Share Disclosure [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		3,200	3,900	3,200	4,000
[1] For the three and six months ended June 30, 2022, 3.2 million OP Units and their related income are not included in the diluted earnings per share calculations as they are not dilutive. For the three and six months ended June 30, 2021, 3.9 million OP Units and 4.0 million OP Units, respectively, and their related income are not included in the diluted earnings per share calculations as they are not dilutive.

Earnings Per OP Unit of MAALP -

Earnings Per OP Unit of MAALP - Schedule of Diluted Earnings per Common Unit (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Earnings Per Share Disclosure [Line Items]
Net income	$ 216,560	$ 223,875	$ 330,137	$ 272,739
Net loss attributable to noncontrolling interests	5,858	7,397	8,633	9,068
Dividends, Preferred Stock, Cash	(922)	(922)	(1,844)	(1,844)
Income from continuing operations available for common shareholders, adjusted	$ 209,631	$ 215,322	$ 319,432	$ 261,533
Earnings per share - basic	$ 1.82	$ 1.88	$ 2.77	$ 2.29
Net income available for MAA common shareholders, adjusted	$ 209,780	$ 215,556	$ 319,660	$ 261,827
Effect of dilutive securities	203	318	336	311
Weighted average common shares - diluted	115,556	114,812	115,642	114,690
Earnings per common share - diluted	$ 1.82	$ 1.88	$ 2.76	$ 2.28
Limited Partnership [Member]
Earnings Per Share Disclosure [Line Items]
Net income	$ 216,560	$ 223,875	$ 330,137	$ 272,739
Net loss attributable to noncontrolling interests	0	0	(293)	0
Income from continuing operations allocated to unvested restricted shares	(149)	(234)	(228)	(294)
Dividends, Preferred Stock, Cash	(922)	(922)	(1,844)	(1,844)
Income from continuing operations available for common shareholders, adjusted	$ 215,489	$ 222,719	$ 328,358	$ 270,601
Weighted average common units - basic	118,555	118,411	118,509	118,365
Earnings per share - basic	$ 1.82	$ 1.88	$ 2.77	$ 2.29
Net income available for MAA common shareholders, adjusted	$ 215,638	$ 222,953	$ 328,586	$ 270,895
Effect of dilutive securities	203	318	336	311
Weighted average common shares - diluted	118,758	118,729	118,845	118,676
Earnings per common share - diluted	$ 1.82	$ 1.88	$ 2.76	$ 2.28

MAA Equity - Summary of Changes

MAA Equity - Summary of Changes in Total Equity and its Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Preferred Stock, Cash	$ (922)	$ (922)	$ (1,844)	$ (1,844)
Mid America Apartment Communities Inc. Shareholders Equity [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	6,103,362	6,019,533	6,153,907	6,088,408
Net Income Including Portion Attributable to Noncontrolling Interest	216,560	223,875	330,137	272,739
Other comprehensive income - derivative instruments	277	278	556	557
Issuance and registration of common shares	453	(467)	432	(333)
Shares repurchased and retired	(10,869)	(7,313)	(14,031)	(9,043)
Exercise of stock options			28	1,466
Redeemable stock fair market value adjustment	(4,227)	(3,031)	6,760	(5,189)
Amortization of unearned compensation	4,401	4,151	11,329	10,144
Dividends, Preferred Stock, Cash	(922)	(922)	(1,844)	(1,844)
Dividends on common stock	(144,396)	(117,872)	(269,829)	(235,150)
Dividends on noncontrolling interest units	(4,002)	(3,696)	(7,481)	(7,852)
Acquisition of noncontrolling interest			(43,070)
Distribution to noncontrolling interest	(69)
Contribution from noncontrolling interest		6,131	2,086	6,764
Ending Balance	6,168,116	6,120,667	6,168,116	6,120,667
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Preferred Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	9	9	9	9
Ending Balance	9	9	9	9
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	1,151	1,142	1,151	1,141
Issuance and registration of common shares	1	1	1	2
Shares issued in exchange for common units		4		4
Ending Balance	1,152	1,147	1,152	1,147
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Additional Paid-in Capital [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	7,198,474	7,182,771	7,230,956	7,176,793
Issuance and registration of common shares	454	(468)	433	(335)
Shares repurchased and retired	(10,869)	(7,313)	(14,031)	(9,043)
Exercise of stock options			28	1,466
Shares issued in exchange for common units		21,928	193	22,160
Adjustment for noncontrolling interests in Operating Partnership	368	816	1,321	700
Amortization of unearned compensation	4,401	4,151	11,329	10,144
Acquisition of noncontrolling interest			(37,443)
Ending Balance	7,191,920	7,201,885	7,191,920	7,201,885
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Accumulated Distributions in Excess of Net Income [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(1,268,827)	(1,367,347)	(1,255,807)	(1,294,182)
Net income attributable to MAA	210,702	216,478	321,504	263,671
Redeemable stock fair market value adjustment	(4,227)	(3,031)	6,760	(5,189)
Dividends, Preferred Stock, Cash	(922)	(922)	(1,844)	(1,844)
Dividends on common stock	144,396	117,872	(269,829)	(235,150)
Ending Balance	(1,199,216)	(1,272,694)	(1,199,216)	(1,272,694)
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Accumulated Other Comprehensive Income (Loss) [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	(10,860)	(11,859)	(11,132)	(12,128)
Other comprehensive income - derivative instruments	269	227	541	496
Ending Balance	(10,591)	(11,632)	(10,591)	(11,632)
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Noncontrolling Interests - Operating Partnership [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	163,566	204,336	165,116	206,927
Net Income Attributable to Noncontrolling Interest	5,858	7,397	8,926	9,068
Other comprehensive income - derivative instruments	8	51	15	61
Shares issued in exchange for common units		(21,932)	(193)	(22,164)
Adjustment for noncontrolling interests in Operating Partnership	(368)	(816)	(1,321)	(700)
Dividends on noncontrolling interest units	4,002	3,696	(7,481)	(7,852)
Ending Balance	165,062	185,340	165,062	185,340
Mid America Apartment Communities Inc. Shareholders Equity [Member] | Noncontrolling Interests - Consolidated Real Estate Entities [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning Balance	19,849	10,481	23,614	9,848
Net Income Attributable to Noncontrolling Interest			(293)
Acquisition of noncontrolling interest			(5,627)
Distribution to noncontrolling interest	(69)
Contribution from noncontrolling interest		6,131	2,086	6,764
Ending Balance	$ 19,780	$ 16,612	$ 19,780	$ 16,612

MAA Equity - Summary of Chang_2

MAA Equity - Summary of Changes in Total Equity and its Components (Parenthetical) (Details) - Mid America Apartment Communities Inc. Shareholders Equity [Member] - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Equity [Line Items]
Dividends on common stock, per share	$ 1.2500	$ 1.0250	$ 2.3375	$ 2.0500
Dividends on noncontrolling interests, per unit	$ 1.2500	$ 1.0250	$ 2.3375	$ 2.0500

MAALP Capital - Summary of Chan

MAALP Capital - Summary of Changes in Total Capital and its Components (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Increase (Decrease) in Partners' Capital [Roll Forward]
Dividends, Preferred Stock, Cash	$ (922)	$ (922)	$ (1,844)	$ (1,844)
M A A L P
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning Balance	6,103,343	6,019,514	6,153,888	6,088,389
Net Income Available for Common Unitholders	216,560	223,875	330,137	272,739
Other comprehensive income - derivative instruments	277	278	556	557
Issuance of units	453	(467)	432	(333)
Units repurchased and retired	(10,869)	(7,313)	(14,031)	(9,043)
Exercise of unit options			28	1,466
Redeemable stock fair market value adjustment	(4,227)	(3,031)	6,760	(5,189)
Amortization of unearned compensation	4,401	4,151	11,329	10,144
Dividends, Preferred Stock, Cash	(922)	(922)	(1,844)	(1,844)
Distributions	(148,398)	(121,568)	(277,310)	(243,002)
Acquisition of noncontrolling interest			(43,070)
Contribution from noncontrolling interest		6,131	2,086	6,764
Distribution to noncontrolling interest	(69)
Ending Balance	6,168,097	6,120,648	6,168,097	6,120,648
M A A L P | Limited Partner [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning Balance	163,566	204,336	165,116	206,927
Net income (loss)	5,858	7,397	8,926	9,068
General partnership units issued in exchange for limited partnership units		(21,932)	(193)	(22,164)
Adjustment for limited partners’ capital at redemption value	(360)	(765)	(1,306)	(639)
Distributions	(4,002)	(3,696)	(7,481)	(7,852)
Ending Balance	165,062	185,340	165,062	185,340
M A A L P | General Partners' Capital Account [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning Balance	5,864,191	5,750,074	5,909,700	5,817,270
Net Income Allocated to General Partners	209,780	215,556	319,660	261,827
Issuance of units	453	(467)	432	(333)
Units repurchased and retired	(10,869)	(7,313)	(14,031)	(9,043)
Exercise of unit options			28	1,466
General partnership units issued in exchange for limited partnership units		21,932	193	22,164
Redeemable stock fair market value adjustment	(4,227)	(3,031)	6,760	(5,189)
Adjustment for limited partners’ capital at redemption value	360	765	1,306	639
Amortization of unearned compensation	4,401	4,151	11,329	10,144
Distributions	(144,396)	(117,872)	(269,829)	(235,150)
Acquisition of noncontrolling interest			(37,443)
Ending Balance	5,927,241	5,863,795	5,927,241	5,863,795
M A A L P | Accumulated Distributions in Excess of Net Income [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning Balance	66,840	66,840	66,840	66,840
Net income (loss)	922	922	1,844	1,844
Dividends, Preferred Stock, Cash	(922)	(922)	(1,844)	(1,844)
Ending Balance	66,840	66,840	66,840	66,840
M A A L P | AOCI Attributable to Noncontrolling Interest [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning Balance	(11,103)	(12,217)	(11,382)	(12,496)
Other comprehensive income - derivative instruments	277	278	556	557
Ending Balance	(10,826)	(11,939)	(10,826)	(11,939)
M A A L P | Noncontrolling Interests-Consolidated Real Estate Entities [Member]
Increase (Decrease) in Partners' Capital [Roll Forward]
Beginning Balance	19,849	10,481	23,614	9,848
Net income (loss)			(293)
Acquisition of noncontrolling interest			(5,627)
Contribution from noncontrolling interest		6,131	2,086	6,764
Distribution to noncontrolling interest	(69)
Ending Balance	$ 19,780	$ 16,612	$ 19,780	$ 16,612

MAALP Capital - Summary of Ch_2

MAALP Capital - Summary of Changes in Total Capital and its Components (Parenthetical) (Details) - $ / shares	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
M A A L P | Limited Partner [Member]
Capital Disclosure [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 1.2500	$ 1.0250	$ 2.3375	$ 2.0500

Borrowings - Summary of Outstan

Borrowings - Summary of Outstanding Debt (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2022 USD ($)
Debt Instrument [Line Items]
Total Outstanding Debt	$ 4,518,314
Debt Instrument, Interest Rate, Effective Percentage	3.40%
Fixed Rate Property Mortgages [Member]
Debt Instrument [Line Items]
Contract Maturity	Oct. 10, 2048
Unsecured Debt [Member]
Debt Instrument [Line Items]
Total Outstanding Debt	$ 4,153,650
Debt Instrument, Interest Rate, Effective Percentage	3.30%
Unsecured Debt [Member] | Commercial Paper Notes [Member] | Fixed Rate Debt Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured Debt	$ 4,175,000
Debt Instrument, Interest Rate, Effective Percentage	3.30%
Contract Maturity	Mar. 04, 2029
Unsecured Debt [Member] | $1 billion unsecured revolving credit facility [Member] | Fair Market Value Adjustment and Debt Issuance Cost [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ (21,350)
Secured Debt [Member]
Debt Instrument [Line Items]
Total Outstanding Debt	364,664
Debt issuance costs	$ (3,200)
Debt Instrument, Interest Rate, Effective Percentage	4.40%
Secured Debt [Member] | Fixed Rate Property Mortgages [Member]
Debt Instrument [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate	$ 367,864
Secured Debt [Member] | Fixed Rate Debt Senior Notes [Member]
Debt Instrument [Line Items]
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate	$ 367,900
Debt Instrument, Interest Rate, Effective Percentage	4.40%
Contract Maturity	Dec. 31, 2048

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended
	Jul. 31, 2022	Jun. 30, 2022
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		3.40%
Commercial Paper Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Payment Terms		397
Debt Instrument, Unused Borrowing Capacity, Amount		$ 16,300
Maximum [Member] | Commercial Paper Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 500,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		3.30%
Unsecured Debt [Member] | Minimum [Member] | Fixed Rate Debt Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Term		5 years
Unsecured Debt [Member] | Maximum [Member] | Fixed Rate Debt Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Term		30 years
Unsecured Debt [Member] | $1 Billion Unsecured Revolving Credit Faciltiy [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity		$ 1,000,000
Line of credit facility, maximum borrowing capacity		$ 1,500,000
Debt instrument, maturity date		May 31, 2023
Line of Credit Facility, Amount Outstanding		$ 0
Letters of Credit Outstanding, Amount		$ 4,000
Unsecured Debt [Member] | $1 Billion Unsecured Revolving Credit Faciltiy [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Unsecured Debt [Member] | $1 Billion Unsecured Revolving Credit Faciltiy [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.45%
Unsecured Debt [Member] | Public Income Notes [Member] | Fixed Rate Debt Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 4,200,000
Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Effective Percentage		4.40%
Secured Debt [Member] | Fixed Rate Debt Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		Dec. 31, 2048
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate		$ 367,900
Debt Instrument, Interest Rate, Effective Percentage		4.40%
Subsequent Event [Member] | Unsecured Debt [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, current borrowing capacity	$ 1,250,000
Line of credit facility, maximum borrowing capacity	$ 2,000,000
Debt instrument, maturity date	Oct. 31, 2026
SOFR [Member] | Unsecured Debt [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.70%
SOFR [Member] | Unsecured Debt [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.40%

Financial Instruments and Der_3

Financial Instruments and Derivatives - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
		Jun. 30, 2022	Dec. 31, 2021
Derivative [Line Items]
Preferred Stock, Redemption Price Per Share	[1]	$ 50
Preferred Stock, Redemption Date		Oct. 01, 2026
Designated as Hedging Instrument | Interest Expense
Derivative [Line Items]
Realized losses associated with terminated interest rate swaps that were designated as cash flow hedging instruments		$ 10,800
Change in fair value of interest rate derivatives included in AOCI and expected to be reclassified in the next 12 months		1,100
Fair Value, Measurements, Recurring [Member]
Derivative [Line Items]
Embedded Derivative, Fair Value of Embedded Derivative Asset		24,500	$ 34,500
Fixed Rate Debt [Member]
Derivative [Line Items]
Notes Payable Excluding Interest Rate Swaps and Cap Agreements		4,500,000	4,500,000
Notes Payable, Fair Value Disclosure		$ 4,200,000	4,800,000
Floating Rate Debt [Member]
Derivative [Line Items]
Notes Payable Excluding Interest Rate Swaps and Cap Agreements			$ 0
[1] The redemption price is the price at which the preferred stock is redeemable, at MAA’s option, for cash.

Financial Instruments and Der_4

Financial Instruments and Derivatives - Effect of Derivative Instruments on Consolidated Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net			$ (9,939)	$ (1,940)
Designated as Hedging Instrument | Interest Expense
Derivative [Line Items]
Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	$ (277)	$ (278)	(556)	(557)
Not Designated as Hedging Instrument | Interest Expense
Derivative [Line Items]
Derivative Instruments, Gain (Loss) Recognized in Income, Net	$ (21,835)	$ 13,168	$ (9,939)	$ (1,940)

Shareholders' Equity of MAA - A

Shareholders' Equity of MAA - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Aug. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Equity [Line Items]
Common stock, shares outstanding		115,438,832	114,919,922	115,438,832	114,919,922	115,336,876
Total common shares and operating partnership units outstanding		118,641,209	118,538,877	118,641,209	118,538,877
Proceeds from Stock Options Exercised, Net					$ 1.5
Equity Forward Sale Agreements [Member]
Equity [Line Items]
Stock Issued During Period, Shares, New Issues	1,100,000
Common stock, price per share	$ 190.56
Common stock settlement under agreement	0
Common shares attributable to dilutive effect of equity forward agreements				62,000
At The Market Offering [Member]
Equity [Line Items]
Common stock shares sold		0	0	0	0
Remaining common stock to be issued				4,000,000
Maximum [Member] | At The Market Offering [Member]
Equity [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		4,000,000		4,000,000
Equity Option [Member]
Equity [Line Items]
Stock Issued During Period, Shares, New Issues				350	18,882
Noncontrolling Interest [Member]
Equity [Line Items]
Common Shares Issuable Upon Conversion Of Convertible Stock		3,202,377	3,618,955	3,202,377	3,618,955
Employee Stock Option [Member]
Equity [Line Items]
Common stock shares, outstanding option		463	963	463	963

Shareholders' Equity of MAA - S

Shareholders' Equity of MAA - Schedule of Cumulative Redeemable Preferred Stock (Details) - $ / shares		6 Months Ended		12 Months Ended
		Jun. 30, 2022		Dec. 31, 2021
Equity [Line Items]
Preferred Stock, Shares Outstanding		867,846		867,846
Preferred Stock, Liquidation Preference Per Share		$ 50	[1]	$ 50
Preferred Stock, Redemption Date		Oct. 01, 2026
Preferred Stock, Redemption Price Per Share	[2]	$ 50
Preferred Stock, Dividend Rate, Percentage		8.50%		8.50%
Preferred Stock, Dividend Rate, Per-Dollar-Amount		$ 4.25
Redeemable Preferred Stock [Member]
Equity [Line Items]
Preferred Stock, Shares Outstanding		867,846
[1] The total liquidation preference for the outstanding preferred stock is $ 43.4 million . The redemption price is the price at which the preferred stock is redeemable, at MAA’s option, for cash.

Shareholders' Equity of MAA -_2

Shareholders' Equity of MAA - Schedule of Cumulative Redeemable Preferred Stock (Parenthetical) (Details) $ in Millions	Jun. 30, 2022 USD ($)
M A A Equity [Abstract]
Preferred Stock, Liquidation Preference, Value	$ 43.4

Partners' Capital of MAALP - Ad

Partners' Capital of MAALP - Additional Information (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Schedule Of Capital Structure [Line Items]
Operating partnership units outstanding	118,641,209	118,538,877
General Partners' Capital Account, Units Outstanding	115,438,832	114,919,922
Limited Partners' Capital Account, Units Outstanding	3,202,377	3,618,955
Preferred Stock, Shares Outstanding	867,846		867,846
Redeemable Preferred Stock [Member]
Schedule Of Capital Structure [Line Items]
Preferred Stock, Shares Outstanding	867,846
Noncontrolling Interest [Member]
Schedule Of Capital Structure [Line Items]
Common Shares Issuable Upon Conversion Of Convertible Stock	3,202,377	3,618,955
Limited Partners' Capital Account	$ 559.4	$ 609.5
Redeemable Capital Shares Par Or Stated Value Per Share	$ 174.67	$ 168.42
M A A L P
Schedule Of Capital Structure [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	97.30%	96.90%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Operating lease weighted average remaining lease term	32 years
Operating lease weighted average discount rate	4.40%
Loss contingency accrual	$ 2	$ 5.2
Apartment Communities [Member]
Loss Contingencies [Line Items]
Lease expiration year	2074
Office Lease [Member]
Loss Contingencies [Line Items]
Lease expiration year	2028

Commitments and Contingencies_2

Commitments and Contingencies - Schedule of Right of Use Lease Obligations (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Loss Contingency [Abstract]
Right-of-use Leases, Future Minimum Payments Due, Next Twelve Months	$ 1,459
Right-of-use Leases, Future Minimum Payments, Due in Two Years	2,885
Right-of-use Leases, Future Minimum Payments, Due in Three Years	2,862
Right-of-use Leases, Future Minimum Payments, Due in Four Years	2,872
Right-of-use Leases, Future Minimum Payments, Due in Five Years	2,920
Right-of-use Leases, Future Minimum Payments, Due Thereafter	59,993
Right-of-use Leases, Future Minimum Payments Due	72,991
Net present value adjustments	(43,463)
Right-of-use Lease, Liability	$ 29,528	$ 30,300
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Accrued Liabilities

Segment Information - Additiona

Segment Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2022 Segment Community State
Segment Reporting Information [Line Items]
Number of owned or owned interests of apartment communities | Community	290
Number of States in which Entity Operates	16
Number of reportable segments | Segment	2
Period properties owned and stabilized	12 months
Occupancy Level For Stabilized Communities	90%
Period Properties Stabilized	90 days
Excluding Construction in Progress [Member]
Segment Reporting Information [Line Items]
Number of States in which Entity Operates	15
Same Store [Member]
Segment Reporting Information [Line Items]
Period properties owned and stabilized	12 months

Segment Information - Revenues

Segment Information - Revenues and NOI for Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Segment Information
Total operating revenues	$ 495,040	$ 436,927	$ 971,118	$ 861,932
Net Operating Income	313,363	268,166	620,021	530,703
Depreciation and amortization	(134,144)	(131,824)	(267,882)	(263,327)
Other Cost and Expense, Operating	(15,630)	(13,752)	(32,167)	(26,691)
General and administrative expenses	(15,580)	(13,114)	(31,903)	(26,093)
Interest expense	(38,905)	(38,867)	(78,026)	(78,539)
Gain on sale of depreciable real estate assets	(131,965)	(134,828)	(131,964)	(134,828)
Gain on sale of non-depreciable real estate assets	355	32	378	32
Other non-operating income (expense)	(28,325)	20,126	(17,530)	4,213
Income tax benefit (expense)	3,052	(2,045)	4,494	(3,044)
Gain (loss) from real estate joint ventures	409	325	788	657
Net income attributable to noncontrolling interests	(5,858)	(7,397)	(8,633)	(9,068)
Preferred Stock Dividends, Income Statement Impact	(922)	(922)	(1,844)	(1,844)
Net income available for MAA common shareholders	209,780	215,556	319,660	261,827
Same Store [Member]
Segment Information
Revenue from Contract with Customer, Including Assessed Tax	468,427	412,079	920,143	814,273
Other operating income expense net	3,733	3,324	6,494	6,276
Total operating revenues	472,160	415,403	926,637	820,549
Net Operating Income	300,238	256,325	594,880	508,265
Non-Same Store and Other [Member]
Segment Information
Revenue from Contract with Customer, Including Assessed Tax	22,705	21,088	44,104	40,675
Other operating income expense net	175	436	377	708
Total operating revenues	22,880	21,524	44,481	41,383
Net Operating Income	$ 13,125	$ 11,841	$ 25,141	$ 22,438

Segment Information - Assets fo

Segment Information - Assets for Reportable Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2022	Dec. 31, 2021
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 11,280,401	$ 11,285,182
Same Store [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	9,798,283	9,907,740
Non-Same Store and Other [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	1,125,506	1,106,039
Corporate Assets [Member]
Segment Reporting Asset Reconciling Item [Line Items]
Total assets	$ 356,612	$ 271,403

Real Estate Acquisitions and _2

Real Estate Acquisitions and Dispositions - Schedule of Real Estate Asset Acquisitions and Dispositions (Details)	6 Months Ended
	Jun. 30, 2022 a ApartmentUnit
MAA Florida Street Station [Member] | Denver CO [Member] | Land
Acquisitionsand Disposals [Line Items]
Area of land	4
Land acquisition date	2022-03
MAA Packing District [Member] | Orlando F L [Member] | Land
Acquisitionsand Disposals [Line Items]
Area of land	4
Land acquisition date	2022-05
MAA Deer Run [Member] | Fort Worth, TX [Member] | Multifamily [Member]
Acquisitionsand Disposals [Line Items]
Disposal Date	2022-06
Number of Units in Real Estate Property | ApartmentUnit	304
MAA Oakbend [Member] | Fort Worth, TX [Member] | Multifamily [Member]
Acquisitionsand Disposals [Line Items]
Disposal Date	2022-06
Number of Units in Real Estate Property | ApartmentUnit	426
Colonial Promenade [Member] | Huntsville AL [Member] | Land
Acquisitionsand Disposals [Line Items]
Area of land	2
Disposal Date	2022-04

Subsequent Events - Additional

Subsequent Events - Additional Information (Details)	Jul. 31, 2022 a
Subsequent Event [Member] | Denver [Member]
Subsequent Event [Line Items]
Area of land	6