Resilient Core FFO Results
Third quarter core FFO results met expectations, demonstrating the resilience of MAA's platform and strategy despite broader economic challenges.
Strong Occupancy and Collections
Occupancy levels have increased 450 basis points over the past 5 quarters, approaching pre-COVID levels, with a current occupancy of 95.6% and strong collections with net delinquency at just 0.3% of billed rents.
Development and Acquisition Success
Recent acquisitions and development projects, such as the Kansas City acquisition and Scottsdale development, are expected to deliver NOI yields of 5.8% to 6.5%.
High Rent-to-Income Ratios
The rent-to-income ratio remains healthy at a low of 20%, supported by high annual wage growth in the region.