Mid-America Apartment Communities (MAA) S-3ASR Automatic shelf registration

EXHIBIT 12.1

MID-AMERICA APARTMENT COMMUNITIES, INC.

Statement of Computation of Consolidated Ratio of Earnings to Combined Fixed Charges and Preferred Dividends

(in thousands, except rations)

	Three Months Ended March 31, 2009			Twelve Months Ended December 31,
				2008			2007			2006			2005			2004
Income from continuing operations	$	9,992		$	30,879		$	33,046		$	21,082		$	19,759		$	21,721
Equity in loss of real estate joint ventures		196			882			58			114			(65	)		287
Fixed charges:
Interest expense		14,229			62,010			63,639			62,308			57,318			50,954
Estimate of interest within rental expense		—			—			—			—			—			—
Deferred financing costs		606			2,307			2,407			2,036			2,011			1,753
Interest capitalized		62			826			795			297			—			—
Distributed income of equity investees		44			1			9,855			350			14,903			6,427
		25,129			96,905			109,800			86,187			93,926			81,142
Interest capitalized		(62	)		(826	)		(795	)		(297	)		—			—
Net income attributable to noncontrolling interest in pre-tax income of subsidiaries that have not incurred fixed charges		—			—			—			—			—			—
Earnings	$	25,067		$	96,079		$	109,005		$	85,890		$	93,926		$	81,142
Fixed charges:
Interest expense	$	14,229		$	62,010		$	63,639		$	62,308		$	57,318		$	50,954
Estimate of interest within rental expense		—			—			—			—			—			—
Deferred financing costs		606			2,307			2,407			2,036			2,011			1,753
Interest capitalized		62			826			795			297			—			—
Fixed charges	$	14,897		$	65,143		$	66,841		$	64,641		$	59,329		$	52,707
Ratio of earnings to fixed charges		1.7x			1.5x			1.6x			1.3x			1.6x			1.5x
Fixed charges:
Interest expense	$	14,229		$	62,010		$	63,639		$	62,308		$	57,318		$	50,954
Estimate of interest within rental expense		—			—			—			—			—			—
Deferred financing costs		606			2,307			2,407			2,036			2,011			1,753
Interest capitalized		62			826			795			297			—			—
Preferred stock dividends		3,216			12,865			13,688			13,962			14,329			14,825
Combined fixed charges and preferred stock dividends	$	18,113		$	78,008		$	80,529		$	78,603		$	73,658		$	67,532
Ratio of earnings to combined fixed charges and preferred stock dividends		1.4x			1.2x			1.4x			1.1x			1.3x			1.2x