Exhibit 99.1

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MAA REPORTS THIRD QUARTER RESULTS

GERMANTOWN, TN, October 27, 2021/PRNewswire/ -- Mid-America Apartment Communities, Inc., or MAA (NYSE: MAA), today announced operating results for the quarter ended September 30, 2021.

A reconciliation of FFO and Core FFO to net income available for MAA common shareholders and an expanded discussion of the components of FFO and Core FFO can be found later in this release. FFO per Share – diluted and Core FFO per Share –diluted include diluted common shares and units.

Eric Bolton, Chairman and Chief Executive Officer, said, “Demand for apartment housing continues to increase across our Sunbelt markets. Strong pricing trends across all our markets were captured in the third quarter and we will carry good momentum into 2022. Our new development pipeline is expanding and leasing performance is ahead of expectations. MAA’s uniquely diversified portfolio of high-quality communities focused on the high growth Sunbelt region, supported by a strong balance sheet, is well-positioned to drive higher value as economic recovery across the Sunbelt region continues.”

Third Quarter 2021 Highlights

Same Store Portfolio Operating Results

To ensure comparable reporting with prior periods, the Same Store Portfolio includes properties that were owned by MAA and stabilized at the beginning of the previous year.

The Same Store Portfolio revenue growth of 6.7% during the third quarter of 2021 was primarily a result of a 6.3% increase in Average Effective Rent per Unit, as compared to the same period in the prior year. Average Physical Occupancy for the Same Store Portfolio was 96.4% for the third quarter of 2021, as compared to 95.5% for the same period in the prior year. Same Store Portfolio lease pricing for

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leases effective during the third quarter of 2021, as compared to the prior lease, increased 20.4% for new leases, increased 10.7% for renewing leases and increased 15.0% for both new and renewing leases on a blended basis. Property operating expenses for the Same Store Portfolio increased 1.5% for the third quarter of 2021 as compared to the same period in the prior year. These changes resulted in a Same Store NOI increase of 10.2% for the third quarter of 2021 as compared to the same period in the prior year.

The Same Store Portfolio revenue growth of 4.3% during the nine months ended September 30, 2021 was primarily a result of a 3.6% increase in Average Effective Rent per Unit, as compared to the same period in the prior year. Average Physical Occupancy for the Same Store Portfolio was 96.2% for the nine months ended September 30, 2021, as compared to 95.5% for the same period in the prior year. Same Store Portfolio lease pricing for leases effective during the nine months ended September 30, 2021, as compared to the prior lease, increased 10.5% for new leases, increased 8.8% for renewing leases and increased 9.7% for both new and renewing leases on a blended basis. Property operating expenses for the Same Store Portfolio increased 4.3% for the nine months ended September 30, 2021 as compared to the same period in the prior year. Growth in insurance expenses and building repairs and maintenance costs contributed to the increase. These changes resulted in a Same Store NOI increase of 4.2% for the nine months ended September 30, 2021 as compared to the same period in the prior year.

A reconciliation of NOI, including Same Store NOI, to net income available for MAA common shareholders, and an expanded discussion of the components of NOI, can be found later in this release.

Acquisition and Disposition Activity

In September 2021, MAA closed on the dispositions of a nine acre land parcel located in the Birmingham, Alabama market and a one acre land parcel located in the Huntsville, Alabama market for combined net proceeds of $0.9 million, resulting in a gain on sale of non-depreciable real estate assets of $0.2 million.

During the third quarter of 2021, MAA entered into contracts to sell two of its Savannah, Georgia multifamily properties and one of its Charlotte, North Carolina multifamily properties and expects to close on the dispositions in the fourth quarter of 2021. These properties are classified within Assets held for sale in the Consolidated Balance Sheet as of September 30, 2021 found later in this release.

Development and Lease-up Activity

As of the end of the third quarter of 2021, MAA had eight development communities under construction. MAA expects to complete construction of three of these development communities in 2021, two in 2022 and three in 2023. Total development costs for the eight communities are projected to be $627.5 million, of which an estimated $243.7 million remained to be funded as of the end of the third quarter of 2021. The expected average stabilized NOI yield on these communities is 6.0%. During the third quarter of 2021, MAA funded $60.2 million of costs for current and future projects, including predevelopment activities related to a land parcel located in the Denver, Colorado market.

As of the end of the third quarter of 2021, MAA had one apartment community, Novel Midtown, located in Phoenix, Arizona, in initial lease-up representing a total of 345 units . Physical occupancy for this lease-up community was 76.8% at the end of the third quarter of 2021.

Property Redevelopment and Repositioning Activity

MAA continued its interior redevelopment program at select apartment communities throughout the portfolio. During the third quarter of 2021, MAA redeveloped the interior of 2,192 units, bringing the total renovated units during the nine months ended September 30, 2021 to 4,992 at an average cost of $5,528 per unit, achieving average rental rate increases of approximately 12% above non-renovated units.

MAA continued its Smart Home technology initiative (mobile control of lights, thermostat and leak monitoring) at select apartment communities. During the third quarter of 2021, 1,361 units were installed, bringing the total units installed during the nine months ended September 30, 2021 to 22,824 at an average cost of $1,400 per unit, and a projected average rental rate increase of approximately $25 per unit upon lease renewal or unit turnover. As of September 30, 2021, MAA had completed installation of the Smart Home technology in 46,774 units across its apartment community portfolio since the initiative began.

During the third quarter of 2021, MAA continued its property repositioning program to upgrade and reposition the amenity and common areas at select apartment communities. The program includes targeted plans to move all units at the properties to higher rents that are expected to deliver yields on cost averaging 8%. Eight properties were selected in 2020 for this program. As of September 30, 2021, work was completed at seven of these properties with redevelopment work at the remaining property expected to be completed by the end of 2021. For the nine months ended September 30, 2021, MAA spent $5.4 million on this program. MAA began construction on similar repositioning projects at eight additional properties during the third quarter of 2021 with work expected to continue in 2022.

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Capital Expenditures

Recurring capital expenditures totaled $26.4 million for the third quarter of 2021, or approximately $0.22 per diluted common share and unit (Share), as compared to $19.7 million, or $0.17 per Share, for the same period in the prior year. These expenditures led to Core Adjusted Funds from Operations (Core AFFO) of $1.56 per Share for the third quarter of 2021, compared to $1.40 per Share for the same period in the prior year.

Redevelopment, revenue enhancing, commercial and other capital expenditures during the third quarter of 2021 were $54.3 million, as compared to $26.9 million for the same period in the prior year. The increase was primarily driven by capital spend totaling $16.0 million related to winter storm Uri, which is expected to be reimbursed through insurance coverage. These expenditures led to Funds Available for Distribution (FAD) of $130.6 million for the third quarter of 2021, compared to $139.2 million for the same period in the prior year.

Recurring capital expenditures totaled $61.8 million for the nine months ended September 30, 2021, or approximately $0.52 per Share, as compared to $59.4 million, or $0.50 per Share, for the same period in the prior year. These expenditures led to Core AFFO of $4.59 per Share for the nine months ended September 30, 2021, compared to $4.28 per Share for the same period in the prior year.

Redevelopment, revenue enhancing, commercial and other capital expenditures during the nine months ended September 30, 2021 were $146.8 million, as compared to $79.5 million for the same period in the prior year. The increase was primarily driven by capital spend totaling $30.2 million related to the investment in the Smart Home technology initiative, as well as capital spend totaling $30.2 million related to winter storm Uri. These expenditures led to FAD of $396.9 million for the nine months ended September 30, 2021, compared to $427.0 million for the same period in the prior year.

A reconciliation of FFO, Core FFO, Core AFFO and FAD to net income available for MAA common shareholders, and an expanded discussion of the components of FFO, Core FFO, Core AFFO and FAD can be found later in this release.

Financing Activities

In July 2021, MAALP retired a $72.8 million tranche of privately placed unsecured senior notes at maturity.

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. 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 September 30, 2021. Subject to certain conditions, MAA generally has the right to elect cash or net share settlement under the forward sale agreements, although MAA expects to settle the forward sale agreements entirely by the full physical delivery of shares of its common stock in exchange for cash proceeds. MAA intends to use any cash proceeds upon settlement of the forward sale agreements to fund MAA’s development and redevelopment activities, among other potential uses.

In August 2021, MAALP publicly issued $300 million of unsecured senior notes due September 2026 with a coupon rate of 1.100% per annum, and at an issue price of 99.553% and $300 million of unsecured senior notes due September 2051 with a coupon rate of 2.875% per annum and at an issue price of 98.588%. Interest is payable semi-annually in arrears on March 15 and September 15 of each year. A portion of the proceeds from the sale of the notes was used to repay other outstanding debt prior to its maturity. As of September 30, 2021, the notes due September 2026 and September 2051 had effective interest rates of 1.191% and 2.946%, respectively.

In September 2021, MAALP retired a $117.0 million tranche of privately placed unsecured senior notes due in November 2022, $125.0 million of publicly issued unsecured senior notes due in December 2022, a $12.3 million tranche of privately placed unsecured senior notes due in July 2023, and a $20.0 million tranche of privately placed unsecured senior notes due in November 2024. MAALP incurred $13.4 million in prepayment penalties and write-offs of unamortized costs relating to the debt prepayments in the third quarter of 2021. The costs are included in Other non-operating (income) expense in the Consolidated Statements of Operations for the three and nine months ended September 30, 2021 found later in this release and have been excluded from Core FFO.

As of September 30, 2021, MAA had $1.0 billion of combined cash and available capacity under MAALP’s unsecured revolving credit facility, net of commercial paper borrowings.

Dividends and distributions paid on shares of common stock and noncontrolling interests during the third quarter of 2021 were $121.5 million, as compared to $118.2 million for the same period in the prior year.

Balance Sheet

As of September 30, 2021:

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111th Consecutive Quarterly Common Dividend Declared

MAA declared its 111th consecutive quarterly common dividend, which will be paid on October 29, 2021 to holders of record on October 15, 2021. The current annual dividend rate is $4.10 per common share.

2021 Earnings and Same Store Portfolio Guidance

MAA is updating and increasing its prior 2021 guidance for Net income per diluted common share, Core FFO per Share and Core AFFO per Share in addition to updating its expectations for growth of Property revenue, Property operating expense and NOI for the Same Store Portfolio.

FFO, Core FFO and Core AFFO are non-GAAP measures. Acquisition and disposition activity materially affects depreciation and capital gains or losses, which combined, generally represent the majority of the difference between Net income available for common shareholders and FFO. As discussed in the definitions of non-GAAP measures found later in this release, MAA’s definition of FFO is in accordance with the National Association of Real Estate Investment Trusts’, or NAREIT’s, definition, and Core FFO represents FFO further adjusted for items that are not considered part of MAA’s core business operations. MAA believes that Core FFO is helpful in understanding operating performance in that Core FFO excludes not only depreciation expense of real estate assets and certain other non-routine items, but it also excludes certain items that by their nature are not comparable over periods and therefore tend to obscure actual operating performance.

MAA expects Core FFO for the fourth quarter of 2021 to be in the range of $1.77 to $1.89 per Share, or $1.83 per Share at the midpoint. MAA does not forecast Net income per diluted share on a quarterly basis as MAA generally cannot predict the timing of forecasted acquisition and disposition activity within a particular quarter (rather than during the course of the full year).

Supplemental Material and Conference Call

Supplemental data to this release can be found on the “For Investors” page of the MAA website at www.maac.com. MAA will host a conference call to further discuss third quarter results on October 28, 2021, at 9:00 AM Central Time. The conference call-in number is 877-830-2598. You may also join the live webcast of the conference call by accessing the “For Investors” page of the MAA website at www.maac.com. MAA’s filings with the Securities and Exchange Commission (SEC) are filed under the registrant names of Mid-America Apartment Communities, Inc. and Mid-America Apartments, L.P.

About MAA

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities in the Southeast, Southwest, and Mid-Atlantic regions of the United States. As of September 30, 2021, MAA had ownership interest in 102,271 apartment units, including communities currently in development, across 16 states and the District of Columbia. For further details, please visit the MAA website at www.maac.com or contact Investor Relations at [email protected], or via mail at MAA, 6815 Poplar Ave., Suite 500, Germantown, TN 38138, Attn: Investor Relations.

Forward-Looking Statements

Sections of this release contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to our expectations for future periods. Forward-looking statements do not discuss historical fact, but instead include statements related to expectations, projections, intentions or other items related to the future. Such forward-looking statements include, without limitation, statements regarding the potential impact of the ongoing COVID-19 pandemic on our business, statements regarding expected operating performance and results, property stabilizations, property acquisition and disposition activity, joint venture activity, development and renovation activity and other capital expenditures, and capital raising and financing activity, as well as lease pricing, revenue and expense growth, occupancy, interest rate and other economic expectations. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “forecasts,” “projects,” “assumes,” “will,” “may,” “could,” “should,” “budget,” “target,” “outlook,” “guidance” and variations of such words and similar expressions are intended to identify such forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, as described below, which may cause our actual results, performance or achievements to be materially different from the results of operations, financial conditions or plans expressed or implied by such forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements contained herein are reasonable, any of

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the assumptions could be inaccurate, and therefore such forward-looking statements included in this release may not prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as a representation by us or any other person that the results or conditions described in such statements or our objectives and plans will be achieved.

The following factors, among others, could cause our actual results, performance or achievements to differ materially from those expressed or implied in the forward-looking statements:

New factors may also emerge from time to time that could have a material adverse effect on our business. Except as required by law, we undertake no obligation to publicly update or revise forward-looking statements contained in this release to reflect events, circumstances or changes in expectations after the date of this release.

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