• Mid-America Apartment Communities average gross margin for 2023 was 61.27%, a 1.64% decline from 2022.
• Mid-America Apartment Communities average gross margin for 2022 was 60.28%, a 2.87% increase from 2021.
• Mid-America Apartment Communities average gross margin for 2021 was 58.6%, a 0.96% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.