Unassociated Document

MAA	November 4, 2010	Supplemental Data S-1

COMMUNITY STATISTICS Dollars in thousands except Average Effective Rent

											Average Effective
	As of September 30, 2010										Rent for the
					Percent to						Three Months
			Gross		Total of			Physical			Ended
	Units		Real Assets		Gross Assets			Occupancy			Sep 30, 2010

Dallas, TX		4,443	$	281,972		9.3	%		96.0	%	$	645.86
Houston, TX		3,503	$	252,429		8.3	%		95.7	%	$	779.67
Jacksonville, FL		3,471	$	205,525		6.8	%		97.1	%	$	743.04
Atlanta, GA		3,253	$	255,041		8.4	%		96.7	%	$	749.55
Austin, TX		2,255	$	161,996		5.3	%		97.7	%	$	776.02
Nashville, TN		2,191	$	163,342		5.4	%		96.2	%	$	702.41
Tampa, FL		1,782	$	125,609		4.2	%		96.5	%	$	855.60
Raleigh/Durham, NC		1,341	$	124,017		4.1	%		96.9	%	$	770.66
Phoenix, AZ		1,024	$	116,649		3.9	%		94.2	%	$	722.27
South Florida		480	$	54,254		1.8	%		96.3	%	$	1,259.86
Orlando, FL		288	$	15,109		0.5	%		96.9	%	$	726.33
Large Markets		24,031	$	1,755,943		58.0	%		96.4	%	$	749.81

Memphis, TN		3,581	$	194,376		6.4	%		96.5	%	$	686.43
Columbus, GA		1,509	$	80,002		2.6	%		97.9	%	$	689.34
Greenville, SC		1,396	$	72,425		2.4	%		95.5	%	$	594.63
Jackson, MS		1,241	$	61,999		2.0	%		95.2	%	$	713.13
Lexington, KY		924	$	61,738		2.0	%		97.3	%	$	702.26
Little Rock, AR		808	$	44,578		1.5	%		96.9	%	$	679.28
Savannah, GA		526	$	44,881		1.5	%		97.0	%	$	807.70
San Antonio, TX		400	$	30,069		1.0	%		96.8	%	$	859.06
All Other Secondary		10,616	$	593,415		19.6	%		96.3	%	$	691.36
Secondary Markets		21,001	$	1,183,483		39.0	%		96.4	%	$	691.36

Subtotal		45,032	$	2,939,426		97.0	%		96.4	%	$	722.55

Development and Lease-up Properties		809	$	89,713		3.0	%		59.2	%	$	998.02

Total Portfolio		45,841	$	3,029,139		100.0	%		95.8	%	$	727.41

NUMBER OF APARTMENT UNITS

	2010							2009
	Sept 30		Jun 30		Mar 31			Dec 31			Sept 30

100% Owned Properties		44,130		43,063		42,206			42,684			41,767
Properties in Joint Ventures		1,711		1,399		1,399			920			920
Total Portfolio		45,841		44,462		43,605			43,604			42,687

MAA	November 4, 2010	Supplemental Data S-2

SAME STORE WITH BULK CABLE NETTED IN REVENUES

Dollars in thousands	Three Months Ended September 30,									Nine Months Ended September 30,
							Percent								Percent
	2010			2009			Change			2010			2009		Change
Revenues
Operating	$	86,789		$	87,280			-0.6	%	$	259,851		$	262,421		-1.0	%
Straight-line adjustment (1)		(455	)		(14	)					(1,318	)		99
Total Same Store	$	86,334		$	87,266			-1.1	%	$	258,533		$	262,520		-1.5	%

Expense	$	37,206		$	38,156			-2.5	%	$	109,304		$	109,844		-0.5	%

NOI
Operating	$	49,583		$	49,124			0.9	%	$	150,547		$	152,577		-1.3	%
Straight-line adjustment (1)		(455	)		(14	)					(1,318	)		99
Total Same Store	$	49,128		$	49,110			0.0	%	$	149,229		$	152,676		-2.3	%

	Percent Change from Prior Year												Percent Change from Prior Quarter
	1Q10			2Q10			3Q10			YTD			1Q10			2Q10			3Q10
Revenues
Operating		-1.6	%		-0.8	%		-0.6	%		-1.0	%		0.9	%		1.6	%		-0.5	%
Total Same Store		-1.8	%		-1.7	%		-1.1	%		-1.5	%		0.4	%		0.5	%		0.0	%
Expense		0.6	%		0.5	%		-2.5	%		-0.5	%		0.8	%		1.0	%		2.7	%
NOI
Operating		-3.1	%		-1.8	%		0.9	%		-1.3	%		0.9	%		1.9	%		-2.7	%
Total Same Store		-3.5	%		-3.2	%		0.0	%		-2.3	%		0.2	%		0.1	%		-1.9	%

(1) Represents the aggregate adjustment necessary to record cash concessions and certain fee revenues on a straight-line basis.

SAME STORE

Dollars in thousands	Three Months Ended September 30,									Nine Months Ended September 30,
							Percent								Percent
	2010			2009			Change			2010			2009		Change
Revenues
Operating	$	89,067		$	87,698			1.6	%	$	265,547		$	263,004		1.0	%
Straight-line adjustment (2)		(455	)		(14	)					(1,318	)		99
Total Same Store	$	88,612		$	87,684			1.1	%	$	264,229		$	263,103		0.4	%

Expense	$	39,484		$	38,574			2.4	%	$	115,000		$	110,427		4.1	%

NOI
Operating	$	49,583		$	49,124			0.9	%	$	150,547		$	152,577		-1.3	%
Straight-line adjustment (2)		(455	)		(14	)					(1,318	)		99
Total Same Store	$	49,128		$	49,110			0.0	%	$	149,229		$	152,676		-2.3	%

	Percent Change from Prior Year												Percent Change from Prior Quarter
	1Q10			2Q10			3Q10			YTD			1Q10			2Q10			3Q10
Revenues
Operating		0.1	%		1.3	%		1.6	%		1.0	%		1.4	%		2.0	%		-0.1	%
Total Same Store		-0.2	%		0.4	%		1.1	%		0.4	%		1.0	%		1.0	%		0.4	%
Expense		4.6	%		5.6	%		2.4	%		4.1	%		2.1	%		2.2	%		3.5	%
NOI
Operating		-3.1	%		-1.8	%		0.9	%		-1.3	%		0.9	%		1.9	%		-2.7	%
Total Same Store		-3.5	%		-3.2	%		0.0	%		-2.3	%		0.2	%		0.1	%		-1.9	%

(2) Represents the aggregate adjustment necessary to record cash concessions and certain fee revenues on a straight-line basis.

MAA	November 4, 2010	Supplemental Data S-3

SAME STORE WITH BULK CABLE NETTED IN REVENUES Dollars in thousands except Effective Rent

Revenues by market are presented before the impact of straight-line adjustments. A reconciliation to total revenue is provided below.

CURRENT PERIOD ACTUALS As of September 30, 2010 unless otherwise noted

			Three Months Ended September 30, 2010
											Average					Quarterly			Twelve
											Effective		Physical			Economic			Month
	Units		Revenue			Expense		NOI			Rent		Occupancy			Occupancy (1)			Turn Rate
Large Markets
Dallas, TX		3,184	$	6,846		$	3,189	$	3,657		$	663.10		96.3	%		94.0	%		51.3	%
Jacksonville, FL		2,947	$	6,955		$	2,805	$	4,150		$	749.04		96.9	%		94.2	%		52.7	%
Atlanta, GA		2,943	$	6,910		$	3,044	$	3,866		$	739.99		97.0	%		93.3	%		55.4	%
Houston, TX		2,646	$	6,290		$	2,869	$	3,421		$	762.06		95.5	%		92.0	%		63.8	%
Nashville, TN		1,855	$	4,506		$	1,801	$	2,705		$	747.60		96.7	%		95.3	%		52.7	%
Austin, TX		1,776	$	4,214		$	1,949	$	2,265		$	722.24		98.0	%		96.0	%		57.3	%
Tampa, FL		1,120	$	2,946		$	1,221	$	1,725		$	817.22		96.5	%		94.2	%		43.9	%
Raleigh/Durham, NC		834	$	2,002		$	690	$	1,312		$	777.76		97.0	%		92.6	%		46.6	%
South Florida		480	$	1,885		$	663	$	1,222		$	1,259.86		96.3	%		92.8	%		46.3	%
Phoenix, AZ		480	$	961		$	615	$	346		$	679.16		91.7	%		82.6	%		59.4	%
Orlando, FL		288	$	624		$	266	$	358		$	726.33		96.9	%		87.7	%		46.5	%
Subtotal		18,553	$	44,139		$	19,112	$	25,027		$	748.46		96.5	%		93.5	%		54.0	%

Secondary Markets
Memphis, TN		3,210	$	6,776		$	3,101	$	3,675		$	687.05		96.6	%		94.2	%		52.6	%
Columbus, GA		1,509	$	3,279		$	1,271	$	2,008		$	689.34		97.9	%		93.0	%		72.1	%
Jackson, MS		1,241	$	2,741		$	1,080	$	1,661		$	713.13		95.2	%		94.1	%		60.2	%
Greenville, SC		1,140	$	2,036		$	889	$	1,147		$	561.78		96.2	%		92.0	%		56.7	%
Lexington, KY		924	$	2,082		$	855	$	1,227		$	702.26		97.3	%		96.2	%		56.1	%
Little Rock, AR		808	$	1,738		$	703	$	1,035		$	679.28		96.9	%		95.8	%		48.3	%
Savannah, GA		526	$	1,388		$	513	$	875		$	807.70		97.0	%		95.8	%		60.1	%
All Other Secondary		10,322	$	22,610		$	9,682	$	12,928		$	690.12		96.2	%		93.7	%		59.2	%
Subtotal		19,680	$	42,650		$	18,094	$	24,556		$	686.84		96.4	%		93.9	%		58.5	%
Operating Same Store		38,233	$	86,789		$	37,206	$	49,583		$	716.75		96.5	%		93.7	%		56.3	%

Revenue Straight-line Adjustment (2)			$	(455	)			$	(455	)
Total Same Store			$	86,334				$	49,128

(1) Economic Occupancy represents Net Potential Rent less Delinquencies, Vacancies and Cash Concessions divided by Net Potential Rent.

(2) Represents the aggregate adjustment necessary to record cash concessions and certain fee revenues on a straight-line basis.

PERCENT CHANGE FROM THREE MONTHS ENDED JUNE 30, 2010 (PRIOR QUARTER) AND THREE MONTHS ENDED SEPTEMBER 30, 2009 (PRIOR YEAR)

	Revenue						Expense						NOI						Physical Occupancy						Average Effective Rent
	Prior			Prior			Prior			Prior			Prior			Prior			Prior			Prior			Prior			Prior
	Quarter			Year			Quarter			Year			Quarter			Year			Quarter			Year			Quarter			Year
Large Markets
Dallas, TX		-1.5	%		-2.1	%		4.8	%		-3.0	%		-6.3	%		-1.3	%		0.8	%		0.3	%		-0.2	%		-2.9	%
Jacksonville, FL		0.3	%		-1.1	%		-0.2	%		-3.5	%		0.6	%		0.6	%		0.4	%		0.2	%		0.4	%		-3.3	%
Atlanta, GA		-0.4	%		0.8	%		2.5	%		-3.1	%		-2.6	%		4.1	%		1.1	%		0.5	%		-0.3	%		-3.2	%
Houston, TX		-0.7	%		-2.0	%		5.9	%		-4.4	%		-5.7	%		0.1	%		-0.1	%		1.1	%		-0.1	%		-4.2	%
Nashville, TN		1.0	%		-0.4	%		0.6	%		-2.2	%		1.3	%		0.9	%		-0.4	%		1.7	%		0.6	%		-2.6	%
Austin, TX		0.0	%		0.1	%		3.1	%		-3.0	%		-2.5	%		3.0	%		2.2	%		2.3	%		0.1	%		-2.8	%
Tampa, FL		-2.2	%		-1.1	%		2.2	%		-2.1	%		-5.1	%		-0.5	%		-1.3	%		-0.5	%		0.8	%		-1.8	%
Raleigh/Durham, NC		-0.4	%		-3.1	%		-1.6	%		-4.2	%		0.2	%		-2.5	%		0.8	%		2.2	%		0.2	%		-2.3	%
South Florida		-1.8	%		0.9	%		-0.2	%		-9.4	%		-2.7	%		7.5	%		-1.6	%		-0.2	%		1.0	%		0.6	%
Phoenix, AZ		-0.3	%		-1.8	%		13.5	%		11.4	%		-17.8	%		-19.0	%		1.1	%		-2.3	%		-0.1	%		-2.8	%
Orlando, FL		0.5	%		-2.2	%		6.8	%		-4.7	%		-3.8	%		-0.3	%		-0.7	%		-0.7	%		4.0	%		-1.1	%
Subtotal		-0.5	%		-1.0	%		3.0	%		-3.1	%		-3.0	%		0.7	%		0.4	%		0.7	%		0.2	%		-2.9	%

Secondary Markets
Memphis, TN		0.1	%		0.8	%		-0.7	%		-2.5	%		0.8	%		3.7	%		-0.1	%		-0.1	%		1.0	%		0.2	%
Columbus, GA		-1.3	%		-3.0	%		-3.3	%		-9.4	%		0.0	%		1.5	%		0.7	%		2.3	%		-0.1	%		-2.7	%
Jackson, MS		1.9	%		1.0	%		4.4	%		8.5	%		0.2	%		-3.4	%		0.2	%		-2.6	%		1.0	%		0.9	%
Greenville, SC		-1.0	%		-0.2	%		3.0	%		-4.4	%		-3.8	%		3.4	%		1.1	%		1.8	%		-0.1	%		-1.5	%
Lexington, KY		-0.2	%		2.1	%		5.6	%		-0.2	%		-3.9	%		3.6	%		1.1	%		1.7	%		0.3	%		-0.6	%
Little Rock, AR		1.7	%		1.2	%		4.0	%		2.8	%		0.2	%		0.1	%		1.5	%		-0.7	%		1.9	%		1.5	%
Savannah, GA		-1.6	%		-3.1	%		-2.7	%		-5.7	%		-1.2	%		-1.6	%		-0.7	%		-2.6	%		-0.2	%		-3.8	%
All Other Secondary		-0.8	%		-0.2	%		3.9	%		-1.6	%		-4.0	%		0.8	%		-0.5	%		0.2	%		0.7	%		-1.0	%
Subtotal		-0.4	%		-0.2	%		2.4	%		-1.9	%		-2.4	%		1.1	%		-0.1	%		0.2	%		0.6	%		-0.8	%
Operating Same Store		-0.5	%		-0.6	%		2.7	%		-2.5	%		-2.7	%		0.9	%		0.2	%		0.5	%		0.4	%		-1.9	%

Including revenue straight-line adjustment:
Total Same Store		0.0	%		-1.1	%								-1.9	%		0.0	%

MAA	November 4, 2010	Supplemental Data S-4

SAME STORE Dollars in thousands except Effective Rent

Revenues by market are presented before the impact of straight-line adjustments. A reconciliation to total revenue is provided below.

CURRENT PERIOD ACTUALS As of September 30, 2010 unless otherwise noted

			Three Months Ended September 30, 2010
											Average					Quarterly			Twelve
											Effective		Physical			Economic			Month
	Units		Revenue			Expense		NOI			Rent		Occupancy			Occupancy (1)			Turn Rate
Large Markets
Dallas, TX		3,184	$	7,020		$	3,363	$	3,657		$	663.10		96.3	%		94.0	%		51.3	%
Jacksonville, FL		2,947	$	6,955		$	2,805	$	4,150		$	749.04		96.9	%		94.2	%		52.7	%
Atlanta, GA		2,943	$	7,128		$	3,262	$	3,866		$	739.99		97.0	%		93.3	%		55.4	%
Houston, TX		2,646	$	6,499		$	3,078	$	3,421		$	762.06		95.5	%		92.0	%		63.8	%
Nashville, TN		1,855	$	4,647		$	1,942	$	2,705		$	747.60		96.7	%		95.3	%		52.7	%
Austin, TX		1,776	$	4,330		$	2,065	$	2,265		$	722.24		98.0	%		96.0	%		57.3	%
Tampa, FL		1,120	$	3,023		$	1,298	$	1,725		$	817.22		96.5	%		94.2	%		43.9	%
Raleigh/Durham, NC		834	$	2,081		$	769	$	1,312		$	777.76		97.0	%		92.6	%		46.6	%
South Florida		480	$	1,885		$	663	$	1,222		$	1,259.86		96.3	%		92.8	%		46.3	%
Phoenix, AZ		480	$	986		$	640	$	346		$	679.16		91.7	%		82.6	%		59.4	%
Orlando, FL		288	$	624		$	266	$	358		$	726.33		96.9	%		87.7	%		46.5	%
Subtotal		18,553	$	45,178		$	20,151	$	25,027		$	748.46		96.5	%		93.5	%		54.0	%

Secondary Markets
Memphis, TN		3,210	$	7,050		$	3,375	$	3,675		$	687.05		96.6	%		94.2	%		52.6	%
Columbus, GA		1,509	$	3,384		$	1,376	$	2,008		$	689.34		97.9	%		93.0	%		72.1	%
Jackson, MS		1,241	$	2,863		$	1,202	$	1,661		$	713.13		95.2	%		94.1	%		60.2	%
Greenville, SC		1,140	$	2,128		$	981	$	1,147		$	561.78		96.2	%		92.0	%		56.7	%
Lexington, KY		924	$	2,082		$	855	$	1,227		$	702.26		97.3	%		96.2	%		56.1	%
Little Rock, AR		808	$	1,739		$	704	$	1,035		$	679.28		96.9	%		95.8	%		48.3	%
Savannah, GA		526	$	1,408		$	533	$	875		$	807.70		97.0	%		95.8	%		60.1	%
All Other Secondary		10,322	$	23,235		$	10,307	$	12,928		$	690.12		96.2	%		93.7	%		59.2	%
Subtotal		19,680	$	43,889		$	19,333	$	24,556		$	686.84		96.4	%		93.9	%		58.5	%
Operating Same Store		38,233	$	89,067		$	39,484	$	49,583		$	716.75		96.5	%		93.7	%		56.3	%

Revenue Straight-line Adjustment (2)			$	(455	)			$	(455	)
Total Same Store			$	88,612				$	49,128

(1) Economic Occupancy represents Net Potential Rent less Delinquencies, Vacancies and Cash Concessions divided by Net Potential Rent.

(2) Represents the aggregate adjustment necessary to record cash concessions and certain fee revenues on a straight-line basis.

PERCENT CHANGE FROM THREE MONTHS ENDED JUNE 30, 2010 (PRIOR QUARTER) AND THREE MONTHS ENDED SEPTEMBER 30, 2009 (PRIOR YEAR)

	Revenue						Expense						NOI						Physical Occupancy						Average Effective Rent
	Prior			Prior			Prior			Prior			Prior			Prior			Prior			Prior			Prior			Prior
	Quarter			Year			Quarter			Year			Quarter			Year			Quarter			Year			Quarter			Year
Large Markets
Dallas, TX		-1.3	%		-1.0	%		4.9	%		-0.6	%		-6.3	%		-1.3	%		0.8	%		0.3	%		-0.2	%		-2.9	%
Jacksonville, FL		0.3	%		-1.1	%		-0.2	%		-3.5	%		0.6	%		0.6	%		0.4	%		0.2	%		0.4	%		-3.3	%
Atlanta, GA		-0.2	%		3.1	%		2.9	%		2.0	%		-2.6	%		4.1	%		1.1	%		0.5	%		-0.3	%		-3.2	%
Houston, TX		0.0	%		0.8	%		7.1	%		1.6	%		-5.7	%		0.1	%		-0.1	%		1.1	%		-0.1	%		-4.2	%
Nashville, TN		1.1	%		2.7	%		0.8	%		5.5	%		1.3	%		0.9	%		-0.4	%		1.7	%		0.6	%		-2.6	%
Austin, TX		0.0	%		1.6	%		2.9	%		0.2	%		-2.5	%		3.0	%		2.2	%		2.3	%		0.1	%		-2.8	%
Tampa, FL		-0.9	%		1.4	%		5.3	%		4.1	%		-5.1	%		-0.5	%		-1.3	%		-0.5	%		0.8	%		-1.8	%
Raleigh/Durham, NC		0.9	%		-0.3	%		2.3	%		3.5	%		0.2	%		-2.5	%		0.8	%		2.2	%		0.2	%		-2.3	%
South Florida		-1.8	%		0.9	%		-0.2	%		-9.3	%		-2.7	%		7.5	%		-1.6	%		-0.2	%		1.0	%		0.6	%
Phoenix, AZ		0.2	%		0.7	%		13.7	%		15.9	%		-17.8	%		-19.0	%		1.1	%		-2.3	%		-0.1	%		-2.8	%
Orlando, FL		0.5	%		-2.2	%		6.8	%		-4.7	%		-3.8	%		-0.3	%		-0.7	%		-0.7	%		4.0	%		-1.1	%
Subtotal		-0.2	%		0.8	%		3.6	%		0.9	%		-3.0	%		0.7	%		0.4	%		0.7	%		0.2	%		-2.9	%

Secondary Markets
Memphis, TN		1.3	%		4.8	%		1.8	%		6.1	%		0.8	%		3.7	%		-0.1	%		-0.1	%		1.0	%		0.2	%
Columbus, GA		-1.5	%		0.1	%		-3.6	%		-1.9	%		0.0	%		1.5	%		0.7	%		2.3	%		-0.1	%		-2.7	%
Jackson, MS		1.7	%		4.8	%		3.8	%		18.5	%		0.2	%		-3.4	%		0.2	%		-2.6	%		1.0	%		0.9	%
Greenville, SC		-0.9	%		2.0	%		2.6	%		0.3	%		-3.8	%		3.4	%		1.1	%		1.8	%		-0.1	%		-1.5	%
Lexington, KY		-0.2	%		2.0	%		5.6	%		-0.2	%		-3.9	%		3.6	%		1.1	%		1.7	%		0.3	%		-0.6	%
Little Rock, AR		1.8	%		1.2	%		4.1	%		2.9	%		0.2	%		0.1	%		1.5	%		-0.7	%		1.9	%		1.5	%
Savannah, GA		-1.7	%		-1.7	%		-2.6	%		-2.0	%		-1.2	%		-1.6	%		-0.7	%		-2.6	%		-0.2	%		-3.8	%
All Other Secondary		-0.2	%		2.1	%		5.0	%		3.7	%		-4.0	%		0.8	%		-0.5	%		0.2	%		0.7	%		-1.0	%
Subtotal		0.0	%		2.4	%		3.3	%		3.9	%		-2.4	%		1.1	%		-0.1	%		0.2	%		0.6	%		-0.8	%
Operating Same Store		-0.1	%		1.6	%		3.5	%		2.4	%		-2.7	%		0.9	%		0.2	%		0.5	%		0.4	%		-1.9	%

Including revenue straight-line adjustment:
Total Same Store		0.4	%		1.1	%								-1.9	%		0.0	%

MAA	November 4, 2010	Supplemental Data S-5

NOI BRIDGE (Dollars in thousands)

	Three Months Ended									Nine Months Ended
	Sep 30, 2010			Jun 30, 2010			Sep 30, 2009			Sep 30, 2010			Sep 30, 2009
NOI
Large market same store	$	24,791		$	25,301		$	24,938		$	75,069		$	78,212
Secondary market same store		24,337			24,783			24,172			74,160			74,464
Total same store		49,128			50,084			49,110			149,229			152,676
Non-same store		6,930			6,010			4,001			18,700			12,106
Total NOI		56,058			56,094			53,111			167,929			164,782
Held for sale NOI included above		-			-			(327	)		-			(1,116	)
Management fee income		186			155			78			477			205
Depreciation		(26,466	)		(24,943	)		(23,913	)		(76,489	)		(71,316	)
Acquisition expense		(989	)		(486	)		(30	)		(1,451	)		(139	)
Property management expense		(4,547	)		(4,479	)		(4,007	)		(13,303	)		(12,751	)
General and administrative expense		(2,957	)		(3,110	)		(3,163	)		(8,878	)		(8,306	)
Interest and other non-property income		217			86			161			618			309
Interest expense		(13,598	)		(13,993	)		(14,371	)		(41,482	)		(43,072	)
Gain (loss) on debt extinguishment		-			-			(2	)		-			(140	)
Amortization of deferred financing costs		(675	)		(648	)		(587	)		(1,918	)		(1,781	)
Asset impairment		(324	)		(1,590	)		-			(1,914	)		-
Net casualty gains (loss) and other settlement proceeds		350			102			(109	)		979			(253	)
Gains on sale of non-depreciable assets		-			-			1			-			1
Loss from real estate joint ventures		(282	)		(298	)		(288	)		(856	)		(640	)
Discontinued operations		-			(2	)		324			(2	)		3,658
Net income attributable to noncontrolling interests		(224	)		(228	)		(260	)		(889	)		(1,536	)
Net income attributable to
Mid-America Apartment Communities, Inc.	$	6,749		$	6,660		$	6,618		$	22,821		$	27,905

Net Operating Income (NOI)

Net operating income represents total property revenues less total property operating expenses, excluding depreciation, for all properties held during the period, regardless of their status as held for sale. We believe NOI by market is a helpful tool in evaluating the operating performance within our markets because it measures the core operations of property performance by excluding corporate level expenses and other items not related to property operating performance.

OPERATING RESULTS (Dollars and shares in thousands except per share data)

	Three Months
	Ended
	September 30,			Trailing
	2010			4 Quarters
Net income attributable to Mid-America Apartment Communities, Inc.	$	6,749		$	32,127
Depreciation		26,466			101,192
Interest expense		13,598			55,504
Amortization of deferred financing costs		675			2,511
Net casualty gain and other settlement proceeds		(350	)		(1,264	)
Gain on sale of non-depreciable assets		-			(14	)
Gain on sale of discontinued operations		-			(2,047	)
EBITDA	$	47,138		$	188,009

	Three Months Ended
	September 30,
	2010			2009
EBITDA/Debt Service		3.40	x		3.11	x
Fixed Charge Coverage (1)		3.31	x		2.59	x
Total Debt as % of Total Gross Assets		51	%		49	%

(1) Fixed charge coverage represents EBITDA divided by interest expense and preferred dividends.

MAA	November 4, 2010	Supplemental Data S-6

DEBT AS OF SEPTEMBER 30, 2010

Dollars in thousands

DEBT OUTSTANDING SUMMARIES

			Average
			Years to
	Principal		Contract		Effective
	Balance		Maturity		Rate
Conventional - Fixed Rate or Swapped	$	1,023,853		3.9		5.2	%
Tax-free - Fixed Rate or Swapped		28,870		8.2		4.7	%
Conventional - Variable Rate (1)		227,829		3.9		1.0	%
Conventional - Variable Rate - Capped (2)		197,936		5.5		0.8	%
Tax-free - Variable Rate - Capped (2)		72,715		1.7		1.1	%
Total Debt Outstanding	$	1,551,203		4.0		3.8	%

(1) Includes a $15 million mortgage with an imbedded cap at a 7% rate. (2) When capped rates are not reached, the average rate represents the rate on the underlying variable debt.

	Line		Amount		Amount
	Limit		Collateralized		Borrowed
Fannie Mae Credit Facilities	$	1,044,429	$	1,044,429	$	1,019,833
Freddie Mac Credit Facilities		300,000		298,247		298,247
Regions Credit Facility		50,000		41,867		-
Other Borrowings		233,123		233,123		233,123
Total Debt	$	1,627,552	$	1,617,666	$	1,551,203

CONTRACT MATURITIES

	Line Limit
	Credit Facilities
	Fannie Mae		Freddie Mac		Regions		Other		Total
2010	$	-	$	-	$	-	$	-	$	-
2011		80,000		100,000		-		-		180,000
2012		80,000		-		50,000		-		130,000
2013		203,193		-		-		-		203,193
2014		321,236		200,000		-		17,878		539,114
2015		120,000		-		-		52,396		172,396
Thereafter		240,000		-		-		162,849		402,849
Total	$	1,044,429	$	300,000	$	50,000	$	233,123	$	1,627,552

SWAPS AND FIXED RATE MATURITIES

	Swap Balances								Total
			SIFMA		Fannie Mae		Fixed Rate				Contract
	LIBOR		(formerly BMA)		Facility		Balances		Balance		Rate
2010	$	50,000	$	-	$	-	$	-	$	50,000		6.2	%
2011		158,000		-		-		-		158,000		5.2	%
2012		150,000		17,800		-		-		167,800		5.1	%
2013		190,000		-		-		-		190,000		5.2	%
2014		144,000		-		-		17,878		161,878		5.7	%
2015		75,000		-		-		37,196		112,196		5.6	%
Thereafter		-		-		50,000		162,849		212,849		4.7	%
Total	$	767,000	$	17,800	$	50,000	$	217,923	$	1,052,723		5.2	%