MAA expects 2026 development pipeline to hold near $800 million

The 2026 unit redevelopment forecast is 6,400-7,400 upgrades, with per-unit cost of $5,500-$6,500 and expected rent lift of 7%-9%.

Mid America Apartment Communities targets an approximately $800 million development pipeline for 2026, with expected stabilized NOI yields of 6%-6.5%.

Lease-ups and active developments totaled 3,508 units at June 30, 2026, with $1.22 billion of cost to date and expected total value creation of $258 million.

Expected total stabilized incremental NOI from active developments and completed developments in initial lease-up is $70 million-$75 million. Expected stabilized annual Core FFO per share contribution is $0.11; 2026 Core FFO dilution is expected at $0.05 from interest costs and concessions.