EXHIBIT 12.1

Mid-America Apartment Communities, Inc.

Computation of Ratio of Earnings to Fixed Charges

(Dollars in thousands)

	Year ended December 31,
	2017			2016			2015		2014			2013
Earnings
Net income	$	340,536		$	224,402		$	350,745	$	150,946		$	37,692
Equity in (income) loss of unconsolidated entities	(1,370		)	(241		)	2		(6,009		)	(338		)
Income tax expense	2,619			1,699			1,673		2,050			893
Net income before equity in (income) loss of unconsolidated entities and income tax expense	341,785			225,860			352,420		146,987			38,247
Add:
Distribution of income from investments in unconsolidated entities	907			1,999			6		15,964			9,768
Fixed charges, less preferred distribution requirement of consolidated subsidiaries	161,989			132,020			123,999		125,675			81,067
Deduct:
Capitalized interest	7,238			2,073			1,655		1,722			2,089
Total earnings (A)	$	497,443		$	357,806		$	474,770	$	286,904		$	126,993
Fixed charges and preferred dividends
Interest expense	$	154,751		$	129,947		$	122,344	$	123,953		$	78,978
Capitalized interest	7,238			2,073			1,655		1,722			2,089
Total fixed charges (B)	$	161,989		$	132,020		$	123,999	$	125,675		$	81,067
Preferred dividends, including redemption costs	3,688			307			—		—			—
Total fixed charges and preferred dividends (C)	$	165,677		$	132,327		$	123,999	$	125,675		$	81,067
Ratio of Earnings to Fixed Charges (A/B)	3.1 x			2.7 x			3.8 x		2.3 x			1.6 x
Ratio of Earnings to Fixed Charges and Preferred Dividends (A/C)	3.0 x			2.7 x			3.8 x		2.3 x			1.6 x