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  "documentTitle": "Mid-America Apartment Communities | Investor Conference Presentation Deck | 36 slides",
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  "presentationDate": "2023-06-01 00:00:00",
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      "text": "In-Migration Trends % Total MAA Move-ins from Non-MAA States Trailing 12 Months. 3/31/2021: 11%. 3/31/2022: 15%. 3/31/2023: 14%.",
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      "text": "2023 Forecasted Demand Drivers Population Growth, Household Formation, Job Growth. MAA Markets: 1.3%, 1.8%, 1.3%. Non-MAA Markets: 0.4%, 0.7%, 0.9%.",
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      "text": "CA | NY | IL | NJ | MA | WA",
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      "text": "Total Move-ins from Non-MAA States Trailing 12 Months at 3/31/2023: Nashville | Tampa | Charleston 17%, Phoenix 20%.",
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      "text": "Of Move-ins from Non-MAA States Came from Peer Coastal/Gateway States",
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      "text": "MAA markets continue to capture positive in-migration trends that continue to run higher than pre-pandemic levels; migration outside our markets remains steady at 4%-5% of our move-outs.",
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      "text": "Demand fundamentals expected to remain strong in 2023 for MAA Markets relative to Non-MAA Markets.",
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      "text": "In-Migration Trailing 12 Months at 3/31/2023 From Coastal/Gateway State to Top MAA Markets (defined as >3% 1Q 2023 SS NOI)",
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      "text": "Trend lines reflect top three MAA markets capturing migration from each of the following states: CA, NY, IL, NJ, MA and WA. Source: Moody's Economy.com, Company",
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      "text": "Strong Demand Drivers for MAA Markets",
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