American Homes 4 Rent (AMH) 10-K 24 Feb 23 2022 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2022	Feb. 22, 2023	Jun. 30, 2022
Document Information
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36013
Entity Registrant Name	AMERICAN HOMES 4 RENT
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-1229660
Entity Address, Address Line One	280 Pilot Road
Entity Address, City or Town	Las Vegas
Entity Address, State or Province	NV
Entity Address, Postal Zip Code	89119
City Area Code	702
Local Phone Number	847-7800
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 10.7
Documents Incorporated by Reference	DOCUMENTS INCORPORATED BY REFERENCE Portions of the Definitive Proxy Statement for our 2023 Annual Meeting of Shareholders are incorporated by reference into Part III of this report. We expect to file our proxy statement within 120 days after December 31, 2022.
Entity Central Index Key	0001562401
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false
Class A Common Shares
Document Information
Title of 12(b) Security	Class A common shares of beneficial interest, $.01 par value
Trading Symbol	AMH
Security Exchange Name	NYSE
Entity Common Stock, Shares Outstanding		361,138,050
Class B common shares
Document Information
Entity Common Stock, Shares Outstanding		635,075
Series G perpetual preferred shares
Document Information
Title of 12(b) Security	Series G perpetual preferred shares of beneficial interest, $.01 par value
Trading Symbol	AMH-G
Security Exchange Name	NYSE
Series H perpetual preferred shares
Document Information
Title of 12(b) Security	Series H perpetual preferred shares of beneficial interest, $.01 par value
Trading Symbol	AMH-H
Security Exchange Name	NYSE
American Homes 4 Rent, L.P.
Document Information
Document Period End Date	Dec. 31, 2022
Current Fiscal Year End Date	--12-31
Entity File Number	333-221878-02
Entity Registrant Name	AMERICAN HOMES 4 RENT, L.P.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	80-0860173
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Central Index Key	0001716558
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2022
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles, California
American Homes 4 Rent, L.P.
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles, California

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Single-family properties:
Land	$ 2,197,233	$ 2,062,039
Buildings and improvements	10,127,891	9,258,387
Single-family properties in operation	12,325,124	11,320,426
Less: accumulated depreciation	(2,386,452)	(2,072,933)
Single-family properties in operation, net	9,938,672	9,247,493
Single-family properties under development and development land	1,187,221	882,159
Single-family properties held for sale, net	198,716	114,907
Total real estate assets, net	11,324,609	10,244,559
Cash and cash equivalents	69,155	48,198
Restricted cash	148,805	143,569
Rent and other receivables	47,752	41,587
Escrow deposits, prepaid expenses and other assets	331,446	216,625
Investments in unconsolidated joint ventures	107,347	121,950
Asset-backed securitization certificates	25,666	25,666
Goodwill	120,279	120,279
Total assets	12,175,059	10,962,433
Liabilities
Revolving credit facility	130,000	350,000
Asset-backed securitizations, net	1,890,842	1,908,346
Unsecured senior notes, net	2,495,156	1,622,132
Accounts payable and accrued expenses	484,403	343,526
Total liabilities	5,000,401	4,224,004
Commitments and contingencies (see Note 14)
Shareholders' equity:
Preferred shares ($0.01 par value per share, 100,000,000 shares authorized, 9,200,000 and 15,400,000 shares issued and outstanding at December 31, 2022 and 2021, respectively)	92	154
Additional paid-in capital	6,931,819	6,492,933
Accumulated deficit	(440,791)	(438,710)
Accumulated other comprehensive income	1,332	1,814
Total shareholders' equity	6,495,987	6,059,571
Noncontrolling interest	678,671	678,858
Total equity	7,174,658	6,738,429
Total liabilities and equity/capital	12,175,059	10,962,433
Class A Common Shares
Shareholders' equity:
Common stock, value, issued	3,529	3,374
Class B common shares
Shareholders' equity:
Common stock, value, issued	$ 6	$ 6

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2022	Dec. 31, 2021
Preferred shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred shares, shares authorized (in shares)	100,000,000	100,000,000
Preferred shares, shares issued (in shares)	9,200,000	15,400,000
Preferred shares, shares outstanding (in shares)	9,200,000	15,400,000
Class A Common Shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	450,000,000	450,000,000
Common stock, shares issued (in shares)	352,881,826	337,362,716
Common stock, shares outstanding (in shares)	352,881,826	337,362,716
Class B common shares
Common shares, par value (in dollars per share)	$ 0.01	$ 0.01
Common shares, shares authorized (in shares)	50,000,000	50,000,000
Common stock, shares issued (in shares)	635,075	635,075
Common stock, shares outstanding (in shares)	635,075	635,075

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Rents and other single-family property revenues	$ 1,490,534	$ 1,303,882	$ 1,172,514
Expenses:
General and administrative expense	68,057	56,444	48,517
Interest expense	134,871	114,893	117,038
Acquisition and other transaction costs	23,452	15,749	9,298
Depreciation and amortization	426,531	372,848	343,153
Hurricane-related charges, net	6,133	0	0
Total expenses	1,323,833	1,147,004	1,058,165
Gain on sale and impairment of single-family properties and other, net	136,459	49,696	38,773
Other income and expense, net	6,865	3,985	1,707
Net income	310,025	210,559	154,829
Noncontrolling interest	36,887	21,467	14,455
Dividends on preferred shares	17,081	37,923	55,128
Redemption of perpetual preferred shares	5,276	15,879	0
Net income attributable to common shareholders / unitholders	$ 250,781	$ 135,290	$ 85,246
Weighted-average common shares outstanding:
Basic (in shares)	349,290,848	324,245,168	306,613,197
Diluted (in shares)	349,787,092	325,518,291	307,074,747
Net income attributable to common shareholders per share:
Basic (in dollars per share)	$ 0.72	$ 0.42	$ 0.28
Diluted (in dollars per share)	$ 0.71	$ 0.41	$ 0.28
Property operating expenses
Expenses:
Property operating and management expenses	$ 552,091	$ 490,205	$ 450,267
Property management expenses
Expenses:
Property operating and management expenses	$ 112,698	$ 96,865	$ 89,892

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 310,025	$ 210,559	$ 154,829
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	0	(3,999)	0
Reclassification adjustment for amortization of interest expense included in net income	(564)	(771)	(963)
Other comprehensive loss	(564)	(4,770)	(963)
Comprehensive income	309,461	205,789	153,866
Comprehensive income attributable to noncontrolling interests	36,805	20,730	14,315
Dividends on preferred shares	17,081	37,923	55,128
Redemption of perpetual preferred shares	5,276	15,879	0
Comprehensive income attributable to common shareholders / unitholders	$ 250,299	$ 131,257	$ 84,423

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Class A common shares	Series D Preferred Stock	Series E Preferred Stock	Series F perpetual preferred shares	Shareholders’ equity	Shareholders’ equity Cumulative Effect, Period of Adoption, Adjustment	Shareholders’ equity Class A common shares	Shareholders’ equity Series D Preferred Stock	Shareholders’ equity Series E Preferred Stock	Shareholders’ equity Series F perpetual preferred shares	Common Stock Class A common shares	Common Stock Class B common shares	Preferred shares	Preferred shares Series D Preferred Stock	Preferred shares Series E Preferred Stock	Preferred shares Series F perpetual preferred shares	Additional paid-in capital	Additional paid-in capital Class A common shares	Additional paid-in capital Series D Preferred Stock	Additional paid-in capital Series E Preferred Stock	Additional paid-in capital Series F perpetual preferred shares	Accumulated deficit	Accumulated deficit Cumulative Effect, Period of Adoption, Adjustment	Accumulated deficit Series D Preferred Stock	Accumulated deficit Series E Preferred Stock	Accumulated deficit Series F perpetual preferred shares	Accumulated other comprehensive income	Accumulated other comprehensive income Class A common shares	Noncontrolling interest	Noncontrolling interest Class A common shares
Beginning balances (in shares) at Dec. 31, 2019													300,107,599	635,075	35,350,000
Beginning balances at Dec. 31, 2019	$ 6,018,790	$ (1,494)					$ 5,335,426	$ (1,494)					$ 3,001	$ 6	$ 354				$ 5,790,775					$ (465,368)	$ (1,494)				$ 6,658		$ 683,364
Increase (Decrease) in Stockholders' Equity
Share-based compensation	9,834						9,834												9,834
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)													577,656
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	5,360						5,360						$ 6						5,354
Issuance of Class A common shares, net of offering costs (in shares)													15,036,130
Issuance of Class A common shares, net of offering costs			$ 413,500						$ 413,500				$ 150							$ 413,350
Redemptions of shares (in shares)													300,000
Redemptions of shares			0						3,951				$ 3							3,943										$ 5		$ (3,951)
Distributions to equity holders:
Preferred shares (Note 9)	(55,128)						(55,128)																	(55,128)
Noncontrolling interests	(10,392)																														(10,392)
Common shares	(61,906)						(61,906)																	(61,906)
Net income	154,829						140,374																	140,374							14,455
Total other comprehensive loss	(963)						(823)																						(823)		(140)
Ending balances (in shares) at Dec. 31, 2020													316,021,385	635,075	35,350,000
Ending balances at Dec. 31, 2020	6,472,430						5,789,094						$ 3,160	$ 6	$ 354				6,223,256					(443,522)					5,840		683,336
Increase (Decrease) in Stockholders' Equity
Share-based compensation	17,792						17,792												17,792
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)													497,045
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	1,543						1,543						$ 5						1,538
Issuance of Class A common shares, net of offering costs (in shares)													20,494,286
Issuance of Class A common shares, net of offering costs			728,610						728,610				$ 205							728,405
Redemptions of shares (in shares)													350,000			10,750,000	9,200,000
Redemptions of shares			0	$ (268,750)	$ (230,000)				4,624	$ (268,750)	$ (230,000)		$ 4			$ (108)	$ (92)			4,613	$ (260,133)	$ (222,538)				$ (8,509)	$ (7,370)			$ 7		$ (4,624)
Distributions to equity holders:
Preferred shares (Note 9)	(37,923)						(37,923)																	(37,923)
Noncontrolling interests	(20,584)																														(20,584)
Common shares	(130,478)						(130,478)																	(130,478)
Net income	210,559						189,092																	189,092							21,467
Total other comprehensive loss	(4,770)						(4,033)																						(4,033)		(737)
Ending balances (in shares) at Dec. 31, 2021													337,362,716	635,075	15,400,000
Ending balances at Dec. 31, 2021	6,738,429						6,059,571						$ 3,374	$ 6	$ 154				6,492,933					(438,710)					1,814		678,858
Increase (Decrease) in Stockholders' Equity
Share-based compensation	27,308						27,308												27,308
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes (in shares)													519,110
Common stock issued under share-based compensation plans, net of shares withheld for employee taxes	123						123						$ 5						118
Issuance of Class A common shares, net of offering costs (in shares)													15,000,000
Issuance of Class A common shares, net of offering costs			$ 561,272						$ 561,272				$ 150							$ 561,122
Redemptions of shares (in shares)																		6,200,000
Redemptions of shares						$ (155,000)						$ (155,000)						$ (62)					$ (149,662)					$ (5,276)
Distributions to equity holders:
Preferred shares (Note 9)	(17,081)						(17,081)																	(17,081)
Noncontrolling interests	(36,992)																														(36,992)
Common shares	(252,862)						(252,862)																	(252,862)
Net income	310,025						273,138																	273,138							36,887
Total other comprehensive loss	(564)						(482)																						(482)		(82)
Ending balances (in shares) at Dec. 31, 2022													352,881,826	635,075	9,200,000
Ending balances at Dec. 31, 2022	$ 7,174,658						$ 6,495,987						$ 3,529	$ 6	$ 92				$ 6,931,819					$ (440,791)					$ 1,332		$ 678,671

Consolidated Statement of Equit

Consolidated Statement of Equity (Parenthetical) - Common Stock - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Dividends declared on common shares (in dollars per unit)	$ 0.72	$ 0.40	$ 0.20
Class A Common Shares
Stock offering costs	$ 200	$ 200	$ 600

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 310,025	$ 210,559	$ 154,829
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	426,531	372,848	343,153
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	11,673	8,790	7,431
Noncash share-based compensation	27,308	17,792	9,834
Equity in net (income) losses of unconsolidated joint ventures	(3,066)	(1,610)	774
Return on investment from unconsolidated joint ventures	5,711	0	0
Gain on sale and impairment of single-family properties and other, net	(136,459)	(49,696)	(38,773)
Other changes in operating assets and liabilities:
Rent and other receivables	(8,146)	(4,885)	(15,633)
Prepaid expenses and other assets	(7,144)	465	2,652
Deferred leasing costs	(2,586)	(3,422)	(4,070)
Accounts payable and accrued expenses	43,615	44,512	14,193
Amounts due from related parties	(1,944)	(153)	(290)
Net cash provided by operating activities	665,518	595,200	474,100
Investing activities
Cash paid for single-family properties	(595,171)	(850,071)	(269,273)
Change in escrow deposits for purchase of single-family properties	20,431	(33,005)	(374)
Net proceeds received from sales of single-family properties and other	292,509	132,072	228,566
Proceeds received from storm-related insurance claims	1,981	4,842	3,705
Proceeds from notes receivable related to the sale of properties	34,090	1,253	0
Investment in unconsolidated joint ventures	(25,313)	(29,260)	(29,834)
Distributions from joint ventures	68,310	57,550	129,007
Renovations to single-family properties	(98,019)	(47,681)	(16,968)
Recurring and other capital expenditures for single-family properties	(138,779)	(122,551)	(104,819)
Cash paid for development activity	(921,423)	(824,247)	(564,241)
Cash paid for deposits on land option contracts	(14,548)	0	0
Other investing activities	(49,570)	(22,367)	(18,694)
Net cash used for investing activities	(1,425,502)	(1,733,465)	(642,925)
Financing activities
Redemption of perpetual preferred shares	(155,000)	(498,750)	0
Proceeds from issuances under share-based compensation plans	4,935	4,225	7,011
Payments related to tax withholding for share-based compensation	(4,812)	(2,682)	(1,651)
Payments on asset-backed securitizations	(22,583)	(24,311)	(22,501)
Proceeds from unsecured senior notes, net of discount	876,813	737,195	0
Settlement of cash flow hedging instrument	0	(3,999)	0
Proceeds from liabilities related to consolidated land not owned	60,217	0	0
Distributions to noncontrolling interests	(36,853)	(23,170)	(10,381)
Distributions to common shareholders	(252,506)	(146,243)	(61,067)
Distributions to preferred shareholders	(17,081)	(37,923)	(55,128)
Deferred financing costs paid	(8,225)	(17,997)	0
Net cash provided by financing activities	786,177	1,064,955	269,783
Net increase (decrease) in cash, cash equivalents and restricted cash	26,193	(73,310)	100,958
Cash, cash equivalents and restricted cash, beginning of period (see Note 2)	191,767	265,077	164,119
Cash, cash equivalents and restricted cash, end of period (see Note 2)	217,960	191,767	265,077
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(116,404)	(95,790)	(109,679)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	71,069	45,392	36,544
Transfers of completed homebuilding deliveries to properties	502,207	395,937	322,024
Property and land contributions to unconsolidated joint ventures	(35,843)	(57,203)	(132,439)
Property and land distributions from unconsolidated joint ventures	8,397	0	0
Noncash right-of-use assets obtained in exchange for operating lease liabilities	5,059	1,346	17,105
Accrued distributions to affiliates	404	0	4,834
Accrued distributions to non-affiliates	106	0	13,612
Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	620,000	1,410,000	130,000
Payments on revolving credit facility	(840,000)	(1,060,000)	(130,000)
Class A Common Shares
Financing activities
Proceeds from issuance of Class A common shares	561,472	728,810	414,100
Payments of Class A common share issuance costs	$ (200)	$ (200)	$ (600)

Consolidated Balance Sheets (L.

Consolidated Balance Sheets (L.P.) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Single-family properties:
Land	$ 2,197,233	$ 2,062,039
Buildings and improvements	10,127,891	9,258,387
Single-family properties in operation	12,325,124	11,320,426
Less: accumulated depreciation	(2,386,452)	(2,072,933)
Single-family properties in operation, net	9,938,672	9,247,493
Single-family properties under development and development land	1,187,221	882,159
Single-family properties held for sale, net	198,716	114,907
Total real estate assets, net	11,324,609	10,244,559
Cash and cash equivalents	69,155	48,198
Restricted cash	148,805	143,569
Rent and other receivables	47,752	41,587
Escrow deposits, prepaid expenses and other assets	331,446	216,625
Investments in unconsolidated joint ventures	107,347	121,950
Goodwill	120,279	120,279
Total assets	12,175,059	10,962,433
Liabilities
Revolving credit facility	130,000	350,000
Asset-backed securitizations, net	1,890,842	1,908,346
Unsecured senior notes, net	2,495,156	1,622,132
Accounts payable and accrued expenses	484,403	343,526
Total liabilities	5,000,401	4,224,004
Commitments and contingencies (see Note 14)
Limited partner:
Accumulated other comprehensive income	1,332	1,814
Total liabilities and equity/capital	12,175,059	10,962,433
American Homes 4 Rent, L.P.
Single-family properties:
Land	2,197,233	2,062,039
Buildings and improvements	10,127,891	9,258,387
Single-family properties in operation	12,325,124	11,320,426
Less: accumulated depreciation	(2,386,452)	(2,072,933)
Single-family properties in operation, net	9,938,672	9,247,493
Single-family properties under development and development land	1,187,221	882,159
Single-family properties held for sale, net	198,716	114,907
Total real estate assets, net	11,324,609	10,244,559
Cash and cash equivalents	69,155	48,198
Restricted cash	148,805	143,569
Rent and other receivables	47,752	41,587
Escrow deposits, prepaid expenses and other assets	331,446	216,625
Investments in unconsolidated joint ventures	107,347	121,950
Amounts due from affiliates	25,666	25,666
Goodwill	120,279	120,279
Total assets	12,175,059	10,962,433
Liabilities
Revolving credit facility	130,000	350,000
Asset-backed securitizations, net	1,890,842	1,908,346
Unsecured senior notes, net	2,495,156	1,622,132
Accounts payable and accrued expenses	484,403	343,526
Total liabilities	5,000,401	4,224,004
Commitments and contingencies (see Note 14)
Limited partner:
Accumulated other comprehensive income	1,526	2,090
Total capital	7,174,658	6,738,429
Total liabilities and equity/capital	12,175,059	10,962,433
American Homes 4 Rent, L.P. | Common Units
General partner:
General partner, capital account	6,272,815	5,686,193
Limited partner:
Limited partners, capital account	678,477	678,582
American Homes 4 Rent, L.P. | Preferred Shares/Units
General partner:
General partner, capital account	$ 221,840	$ 371,564

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (L.P.) (Parenthetical) - American Homes 4 Rent, L.P. - shares	Dec. 31, 2022	Dec. 31, 2021
General Partner
Common units, shares/units issued (in shares)	353,516,901	337,997,791
Common units, shares/units outstanding (in shares)	353,516,901	337,997,791
Preferred units, shares/units issued (in shares)	9,200,000	15,400,000
Preferred units, shares/units outstanding (in shares)	9,200,000	15,400,000
Limited Partners
Common units, shares/units issued (in shares)	51,376,980	51,376,980
Common units, shares/units outstanding (in shares)	51,376,980	51,376,980

Consolidated Statements of Op_2

Consolidated Statements of Operations (L.P.) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Rents and other single-family property revenues	$ 1,490,534	$ 1,303,882	$ 1,172,514
Expenses:
General and administrative expense	68,057	56,444	48,517
Interest expense	134,871	114,893	117,038
Acquisition and other transaction costs	23,452	15,749	9,298
Depreciation and amortization	426,531	372,848	343,153
Hurricane-related charges, net	6,133	0	0
Total expenses	1,323,833	1,147,004	1,058,165
Gain on sale and impairment of single-family properties and other, net	136,459	49,696	38,773
Other income and expense, net	6,865	3,985	1,707
Net income	310,025	210,559	154,829
Preferred distributions	17,081	37,923	55,128
Redemption of perpetual preferred units	5,276	15,879	0
Net income attributable to common shareholders / unitholders	250,781	135,290	85,246
Property operating expenses
Expenses:
Property operating and management expenses	552,091	490,205	450,267
Property management expenses
Expenses:
Property operating and management expenses	112,698	96,865	89,892
American Homes 4 Rent, L.P.
Rents and other single-family property revenues	1,490,534	1,303,882	1,172,514
Expenses:
General and administrative expense	68,057	56,444	48,517
Interest expense	134,871	114,893	117,038
Acquisition and other transaction costs	23,452	15,749	9,298
Depreciation and amortization	426,531	372,848	343,153
Hurricane-related charges, net	6,133	0	0
Total expenses	1,323,833	1,147,004	1,058,165
Gain on sale and impairment of single-family properties and other, net	136,459	49,696	38,773
Other income and expense, net	6,865	3,985	1,707
Net income	310,025	210,559	154,829
Preferred distributions	17,081	37,923	55,128
Redemption of perpetual preferred units	5,276	15,879	0
Net income attributable to common shareholders / unitholders	$ 287,668	$ 156,757	$ 99,701
Weighted-average common shares outstanding:
Basic (in shares)	400,667,828	375,693,107	358,603,291
Diluted (in shares)	401,164,072	376,966,230	359,064,841
Net income attributable to common shareholders per share:
Basic (in dollars per share)	$ 0.72	$ 0.42	$ 0.28
Diluted (in dollars per share)	$ 0.71	$ 0.41	$ 0.28
American Homes 4 Rent, L.P. | Property operating expenses
Expenses:
Property operating and management expenses	$ 552,091	$ 490,205	$ 450,267
American Homes 4 Rent, L.P. | Property management expenses
Expenses:
Property operating and management expenses	$ 112,698	$ 96,865	$ 89,892

Consolidated Statements of Co_2

Consolidated Statements of Comprehensive Income (L.P.) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Net income	$ 310,025	$ 210,559	$ 154,829
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	0	(3,999)	0
Reclassification adjustment for amortization of interest expense included in net income	(564)	(771)	(963)
Other comprehensive loss	(564)	(4,770)	(963)
Comprehensive income	309,461	205,789	153,866
Preferred distributions	17,081	37,923	55,128
Redemption of perpetual preferred units	5,276	15,879	0
Comprehensive income attributable to common shareholders / unitholders	250,299	131,257	84,423
American Homes 4 Rent, L.P.
Net income	310,025	210,559	154,829
Cash flow hedging instruments:
Loss on settlement of cash flow hedging instrument	0	(3,999)	0
Reclassification adjustment for amortization of interest expense included in net income	(564)	(771)	(963)
Other comprehensive loss	(564)	(4,770)	(963)
Comprehensive income	309,461	205,789	153,866
Preferred distributions	17,081	37,923	55,128
Redemption of perpetual preferred units	5,276	15,879	0
Comprehensive income attributable to common shareholders / unitholders	$ 287,104	$ 151,987	$ 98,738

Consolidated Statements of Capi

Consolidated Statements of Capital - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Increase (Decrease) in Capital
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 123	$ 1,543	$ 5,360
Distributions to capital holders:
Net income	310,025	210,559	154,829
Total other comprehensive loss	(564)	(4,770)	(963)
Accounting Standards Update [Extensible Enumeration]				Accounting Standards Update 2016-13 [Member]
American Homes 4 Rent, L.P.
Increase (Decrease) in Capital
Beginning balance, total capital	6,738,429	6,472,430	6,018,790
Share-based compensation	27,308	17,792	9,834
Common units issued under share-based compensation plans, net of units withheld for employee taxes	123	1,543	5,360
Distributions to capital holders:
Preferred units (Note 9)	(17,081)	(37,923)	(55,128)
Common units	(289,854)	(151,062)	(72,298)
Net income	310,025	210,559	154,829
Total other comprehensive loss	(564)	(4,770)	(963)
Ending balance, total capital	7,174,658	6,738,429	6,472,430	$ 6,018,790
Accounting Standards Update [Extensible Enumeration]				Accounting Standards Update 2016-13 [Member]
American Homes 4 Rent, L.P. | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Capital
Beginning balance, total capital			(1,494)
Distributions to capital holders:
Ending balance, total capital				$ (1,494)
American Homes 4 Rent, L.P. | Class A Common Units
Increase (Decrease) in Capital
Issuance of Class A common units, net of offering costs	561,272	728,610	413,500
Redemptions of units		0	$ 0
American Homes 4 Rent, L.P. | Series D Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units		(268,750)
American Homes 4 Rent, L.P. | Series E Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units		$ (230,000)
American Homes 4 Rent, L.P. | Series F Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units	$ (155,000)
American Homes 4 Rent, L.P. | Common Units
Distributions to capital holders:
Dividends declared on common shares (in dollars per unit)	$ 0.72	$ 0.40	$ 0.20
American Homes 4 Rent, L.P. | Common Units | Class A Common Units
Distributions to capital holders:
Stock offering costs	$ 200	$ 200	$ 600
American Homes 4 Rent, L.P. | Accumulated other comprehensive income (loss)
Increase (Decrease) in Capital
Beginning balance, total capital	2,090	6,860	7,823
Distributions to capital holders:
Total other comprehensive loss	(564)	(4,770)	(963)
Ending balance, total capital	$ 1,526	$ 2,090	$ 6,860	$ 7,823
American Homes 4 Rent, L.P. | General Partner | Common Units
Increase (Decrease) in Capital
Beginning balance (in shares)	337,997,791	316,656,460	300,742,674
Beginning balance, total capital	$ 5,686,193	$ 4,928,819	$ 4,474,333
Share-based compensation	$ 27,308	$ 17,792	$ 9,834
Common stock issued under share-based compensation plans, net of units withheld for employee taxes (in shares)	519,110	497,045	577,656
Common units issued under share-based compensation plans, net of units withheld for employee taxes	$ 123	$ 1,543	$ 5,360
Distributions to capital holders:
Common units	(252,862)	(130,478)	(61,906)
Net income	$ 256,057	$ 151,169	$ 85,246
Ending balance (in shares)	353,516,901	337,997,791	316,656,460	300,742,674
Ending balance, total capital	$ 6,272,815	$ 5,686,193	$ 4,928,819	$ 4,474,333
American Homes 4 Rent, L.P. | General Partner | Common Units | Cumulative Effect, Period of Adoption, Adjustment
Increase (Decrease) in Capital
Beginning balance, total capital			$ (1,494)
Distributions to capital holders:
Ending balance, total capital				(1,494)
American Homes 4 Rent, L.P. | General Partner | Common Units | Class A Common Units
Increase (Decrease) in Capital
Issuance of Class A common units, net of offering costs (in shares)	15,000,000	20,494,286	15,036,130
Issuance of Class A common units, net of offering costs	$ 561,272	$ 728,610	$ 413,500
Redemptions of units (in shares)		(350,000)	(300,000)
Redemptions of units		$ 4,617	$ 3,946
American Homes 4 Rent, L.P. | General Partner | Common Units | Series D Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units		(8,509)
American Homes 4 Rent, L.P. | General Partner | Common Units | Series E Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units		(7,370)
American Homes 4 Rent, L.P. | General Partner | Common Units | Series F Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units	(5,276)
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units
Increase (Decrease) in Capital
Beginning balance, total capital	371,564	854,435	854,435
Distributions to capital holders:
Preferred units (Note 9)	(17,081)	(37,923)	(55,128)
Net income	17,081	37,923	55,128
Ending balance, total capital	221,840	371,564	$ 854,435	$ 854,435
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series D Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units		(260,241)
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series E Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units		$ (222,630)
American Homes 4 Rent, L.P. | General Partner | Preferred Shares/Units | Series F Perpetual Preferred Units
Increase (Decrease) in Capital
Redemptions of units	$ (149,724)
American Homes 4 Rent, L.P. | Limited Partners | Common Units
Increase (Decrease) in Capital
Beginning balance (in shares)	51,376,980	51,726,980	52,026,980
Beginning balance, total capital	$ 678,582	$ 682,316	$ 682,199
Distributions to capital holders:
Common units	(36,992)	(20,584)	(10,392)
Net income	$ 36,887	$ 21,467	$ 14,455
Ending balance (in shares)	51,376,980	51,376,980	51,726,980	52,026,980
Ending balance, total capital	$ 678,477	$ 678,582	$ 682,316	$ 682,199
American Homes 4 Rent, L.P. | Limited Partners | Common Units | Class A Common Units
Increase (Decrease) in Capital
Redemptions of units (in shares)		(350,000)	(300,000)
Redemptions of units		$ (4,617)	$ (3,946)

Consolidated Statements of Ca_2

Consolidated Statements of Capital (Parenthetical) - American Homes 4 Rent, L.P. - Common Units - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Dividends declared on common shares (in dollars per unit)	$ 0.72	$ 0.40	$ 0.20
Class A Common Units
Stock offering costs	$ 200	$ 200	$ 600

Consolidated Statements of Ca_3

Consolidated Statements of Cash Flows (L.P.) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 310,025	$ 210,559	$ 154,829
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	426,531	372,848	343,153
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	11,673	8,790	7,431
Noncash share-based compensation	27,308	17,792	9,834
Equity in net (income) losses of unconsolidated joint ventures	(3,066)	(1,610)	774
Return on investment from unconsolidated joint ventures	5,711	0	0
Gain on sale and impairment of single-family properties and other, net	(136,459)	(49,696)	(38,773)
Other changes in operating assets and liabilities:
Rent and other receivables	(8,146)	(4,885)	(15,633)
Prepaid expenses and other assets	(7,144)	465	2,652
Deferred leasing costs	(2,586)	(3,422)	(4,070)
Accounts payable and accrued expenses	43,615	44,512	14,193
Amounts due from related parties	(1,944)	(153)	(290)
Net cash provided by operating activities	665,518	595,200	474,100
Investing activities
Cash paid for single-family properties	(595,171)	(850,071)	(269,273)
Change in escrow deposits for purchase of single-family properties	20,431	(33,005)	(374)
Net proceeds received from sales of single-family properties and other	292,509	132,072	228,566
Proceeds received from storm-related insurance claims	1,981	4,842	3,705
Proceeds from notes receivable related to the sale of properties	34,090	1,253	0
Investment in unconsolidated joint ventures	(25,313)	(29,260)	(29,834)
Distributions from joint ventures	68,310	57,550	129,007
Renovations to single-family properties	(98,019)	(47,681)	(16,968)
Recurring and other capital expenditures for single-family properties	(138,779)	(122,551)	(104,819)
Cash paid for development activity	(921,423)	(824,247)	(564,241)
Cash paid for deposits on land option contracts	(14,548)	0	0
Other investing activities	(49,570)	(22,367)	(18,694)
Net cash used for investing activities	(1,425,502)	(1,733,465)	(642,925)
Financing activities
Redemption of perpetual preferred shares	(155,000)	(498,750)	0
Proceeds from issuances under share-based compensation plans	4,935	4,225	7,011
Payments related to tax withholding for share-based compensation	(4,812)	(2,682)	(1,651)
Payments on asset-backed securitizations	(22,583)	(24,311)	(22,501)
Proceeds from unsecured senior notes, net of discount	876,813	737,195	0
Settlement of cash flow hedging instrument	0	(3,999)	0
Proceeds from liabilities related to consolidated land not owned	60,217	0	0
Distributions to common unitholders	(252,506)	(146,243)	(61,067)
Distributions to preferred unitholders	(17,081)	(37,923)	(55,128)
Deferred financing costs paid	(8,225)	(17,997)	0
Net cash provided by financing activities	786,177	1,064,955	269,783
Net increase (decrease) in cash, cash equivalents and restricted cash	26,193	(73,310)	100,958
Cash, cash equivalents and restricted cash, beginning of period (see Note 2)	191,767	265,077	164,119
Cash, cash equivalents and restricted cash, end of period (see Note 2)	217,960	191,767	265,077
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(116,404)	(95,790)	(109,679)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	71,069	45,392	36,544
Transfers of completed homebuilding deliveries to properties	502,207	395,937	322,024
Property and land contributions to unconsolidated joint ventures	(35,843)	(57,203)	(132,439)
Property and land distributions from unconsolidated joint ventures	8,397	0	0
Noncash right-of-use assets obtained in exchange for operating lease liabilities	5,059	1,346	17,105
Accrued distributions to affiliates	404	0	4,834
Accrued distributions to non-affiliates	106	0	13,612
American Homes 4 Rent, L.P.
Operating activities
Net income	310,025	210,559	154,829
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	426,531	372,848	343,153
Noncash amortization of deferred financing costs, debt discounts and cash flow hedging instruments	11,673	8,790	7,431
Noncash share-based compensation	27,308	17,792	9,834
Equity in net (income) losses of unconsolidated joint ventures	(3,066)	(1,610)	774
Return on investment from unconsolidated joint ventures	5,711	0	0
Gain on sale and impairment of single-family properties and other, net	(136,459)	(49,696)	(38,773)
Other changes in operating assets and liabilities:
Rent and other receivables	(8,146)	(4,885)	(15,633)
Prepaid expenses and other assets	(7,144)	465	2,652
Deferred leasing costs	(2,586)	(3,422)	(4,070)
Accounts payable and accrued expenses	43,615	44,512	14,193
Amounts due from related parties	(1,944)	(153)	(290)
Net cash provided by operating activities	665,518	595,200	474,100
Investing activities
Cash paid for single-family properties	(595,171)	(850,071)	(269,273)
Change in escrow deposits for purchase of single-family properties	20,431	(33,005)	(374)
Net proceeds received from sales of single-family properties and other	292,509	132,072	228,566
Proceeds received from storm-related insurance claims	1,981	4,842	3,705
Proceeds from notes receivable related to the sale of properties	34,090	1,253	0
Investment in unconsolidated joint ventures	(25,313)	(29,260)	(29,834)
Distributions from joint ventures	68,310	57,550	129,007
Renovations to single-family properties	(98,019)	(47,681)	(16,968)
Recurring and other capital expenditures for single-family properties	(138,779)	(122,551)	(104,819)
Cash paid for development activity	(921,423)	(824,247)	(564,241)
Cash paid for deposits on land option contracts	(14,548)	0	0
Other investing activities	(49,570)	(22,367)	(18,694)
Net cash used for investing activities	(1,425,502)	(1,733,465)	(642,925)
Financing activities
Redemption of perpetual preferred shares	(155,000)	(498,750)	0
Proceeds from issuances under share-based compensation plans	4,935	4,225	7,011
Payments related to tax withholding for share-based compensation	(4,812)	(2,682)	(1,651)
Payments on asset-backed securitizations	(22,583)	(24,311)	(22,501)
Proceeds from unsecured senior notes, net of discount	876,813	737,195	0
Settlement of cash flow hedging instrument	0	(3,999)	0
Proceeds from liabilities related to consolidated land not owned	60,217	0	0
Distributions to common unitholders	(289,359)	(169,413)	(71,448)
Distributions to preferred unitholders	(17,081)	(37,923)	(55,128)
Deferred financing costs paid	(8,225)	(17,997)	0
Net cash provided by financing activities	786,177	1,064,955	269,783
Net increase (decrease) in cash, cash equivalents and restricted cash	26,193	(73,310)	100,958
Cash, cash equivalents and restricted cash, beginning of period (see Note 2)	191,767	265,077	164,119
Cash, cash equivalents and restricted cash, end of period (see Note 2)	217,960	191,767	265,077
Supplemental cash flow information
Cash payments for interest, net of amounts capitalized	(116,404)	(95,790)	(109,679)
Supplemental schedule of noncash investing and financing activities
Accrued property renovations and development expenditures	71,069	45,392	36,544
Transfers of completed homebuilding deliveries to properties	502,207	395,937	322,024
Property and land contributions to unconsolidated joint ventures	(35,843)	(57,203)	(132,439)
Property and land distributions from unconsolidated joint ventures	8,397	0	0
Noncash right-of-use assets obtained in exchange for operating lease liabilities	5,059	1,346	17,105
Accrued distributions to affiliates	404	0	4,834
Accrued distributions to non-affiliates	106	0	13,612
Revolving Credit Facility
Financing activities
Proceeds from revolving credit facility	620,000	1,410,000	130,000
Payments on credit facility	(840,000)	(1,060,000)	(130,000)
Revolving Credit Facility | American Homes 4 Rent, L.P.
Financing activities
Proceeds from revolving credit facility	620,000	1,410,000	130,000
Payments on credit facility	(840,000)	(1,060,000)	(130,000)
Class A Common Units | American Homes 4 Rent, L.P.
Financing activities
Proceeds from issuance of Class A common units	561,472	728,810	414,100
Payments of Class A common unit issuance costs	$ (200)	$ (200)	$ (600)

Organization and Operations

Organization and Operations	12 Months Ended
	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Operations	Organization and Operations American Homes 4 Rent (“AMH” or the “General Partner”) is a Maryland real estate investment trust (“REIT”) formed on October 19, 2012 for the purpose of acquiring, developing, renovating, leasing and managing single-family homes as rental properties. American Homes 4 Rent, L.P., a Delaware limited partnership formed on October 22, 2012, and its consolidated subsidiaries (collectively, the “Operating Partnership” or the “OP”) is the entity through which the Company conducts substantially all of its business and owns, directly or through subsidiaries, substantially all of its assets. References to the “Company,” “we,” “our” and “us” mean collectively AMH, the Operating Partnership and those entities/subsidiaries owned or controlled by AMH and/or the Operating Partnership. As of December 31, 2022, the Company held 58,993 single-family properties in 21 states, including 1,115 properties classified as held for sale.AMH is the general partner of, and as of December 31, 2022 owned approximately 87.3% of the common partnership interest in, the Operating Partnership. The remaining 12.7% of the common partnership interest was owned by limited partners. As the sole general partner of the Operating Partnership, AMH has exclusive control of the Operating Partnership’s day-to-day management. The Company’s management operates AMH and the Operating Partnership as one business, and the management of AMH consists of the same members as the management of the Operating Partnership. AMH’s primary function is acting as the general partner of the Operating Partnership. The only material asset of AMH is its partnership interest in the Operating Partnership. As a result, AMH generally does not conduct business itself, other than acting as the sole general partner of the Operating Partnership, issuing equity from time to time and guaranteeing certain debt of the Operating Partnership. AMH itself is not directly obligated under any indebtedness, but guarantees some of the debt of the Operating Partnership. The Operating Partnership owns substantially all of the assets of the Company, including the Company’s ownership interests in its joint ventures, either directly or through its subsidiaries, conducts the operations of the Company’s business and is structured as a limited partnership with no publicly traded equity. One difference between the Company and the Operating Partnership is $25.7 million of asset-backed securitization certificates issued by the Operating Partnership and purchased by AMH. The asset-backed securitization certificates are recorded as an asset-backed securitization certificates receivable by the Company and as an amount due from affiliates by the Operating Partnership. AMH contributes all net proceeds from its various equity offerings to the Operating Partnership. In return for those contributions, AMH receives Operating Partnership units (“OP units”) equal to the number of shares it has issued in the equity offering. Based on the terms of the Agreement of Limited Partnership of the Operating Partnership, as amended, OP units can be exchanged for shares on a one-for-one basis. Except for net proceeds from equity issuances by AMH, the Operating Partnership generates the capital required by the Company’s business through the Operating Partnership’s operations, by the Operating Partnership’s incurrence of indebtedness or through the issuance of OP units.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s audit of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made. Principles of Consolidation The consolidated financial statements present the accounts of both (i) the Company, which include AMH, the Operating Partnership and their consolidated subsidiaries, and (ii) the Operating Partnership, which include the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities (“VIEs”) in accordance with Accounting Standards Codification (“ASC”) 810, Consolidation (“ASC 810”), when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. Entities that are not VIEs and for which the Company owns an interest but does not consolidate are accounted for under the equity method of accounting as an investment in an unconsolidated entity and are included in investments in unconsolidated joint ventures within the consolidated balance sheets. See Investments in Unconsolidated Joint Ventures below for a further discussion of the investments in unconsolidated joint ventures. The Company consolidates VIEs in accordance with ASC 810 if it is the primary beneficiary of the VIE as determined by its power to direct the VIE’s activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. The Company holds investments in venture capital funds and deposits with land banking entities, which were determined to be VIEs. As the Company does not control the activities that most significantly impact the economic performance of these entities, the Company was deemed not to be the primary beneficiary and therefore did not consolidate the entities. The investments in the unconsolidated venture capital funds are accounted for under the equity method of accounting and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. As of December 31, 2022, the carrying value of the investments in these venture capital funds was $12.0 million and the Company’s maximum exposure to loss was $16.1 million, which includes all future capital funding requirements. See Land Option Contracts below for a further discussion of the deposits with land banking entities. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Income Taxes AMH has elected to be taxed as a REIT for U.S. federal income tax purposes under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains), we generally will not be subject to U.S. federal income tax. Qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute to our shareholders. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we would be subject to U.S. federal income tax and state income tax on our taxable income at regular corporate tax rates, and we would likely be precluded from qualifying for treatment as a REIT until the fifth calendar year following the year in which we fail to qualify. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed REIT taxable income, if any. Certain of our subsidiaries are subject to taxation by U.S. federal, state and local authorities for the periods presented. We made joint elections to treat certain subsidiaries as taxable REIT subsidiaries which are subject to U.S. federal, state and local taxes on their income at regular corporate rates. The tax years from 2017 to present generally remain open to examination by the taxing jurisdictions to which the Company is subject. We believe that our Operating Partnership is properly treated as a partnership for U.S. federal income tax purposes. As a partnership, the Operating Partnership is not subject to U.S. federal income tax on our income. Instead, each of the Operating Partnership’s partners, including AMH, is allocated, and may be required to pay tax with respect to, its share of the Operating Partnership’s income. As such, no provision for U.S. federal income taxes has been included for the Operating Partnership. ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the more likely than not threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2022, there were no deferred tax assets and liabilities or unrecognized tax benefits recorded by the Company. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months. As a REIT, we generally are required to distribute annually to our shareholders at least 90% of our REIT taxable income (determined without regard to the deduction for dividends paid and any net capital gains) and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains). The Operating Partnership funds the payment of distributions. AMH had a net operating loss (“NOL”) for U.S. federal income tax purposes of an estimated $11.8 million as of December 31, 2022 and $25.4 million as of December 31, 2021. We intend to use our NOL (to the extent available) to reduce our REIT taxable income to the extent that REIT taxable income is not reduced by our deduction for dividends paid. Investments in Real Estate Purchases of single-family properties are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures , and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge obtained from historical transactions, its internal construction program (the “AMH Development Program”) and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. Typically, we allocate between 10% to 30% of the purchase price of properties to land. For the year ended December 31, 2022, the Company purchased 1,605 single-family properties treated as asset acquisitions for accounting purposes for a total purchase price of $571.8 million, net of holding costs, which was included in cash paid for single-family properties within the consolidated statement of cash flows. The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property. We incur costs to prepare properties acquired through our traditional acquisition channels for rental. These costs, along with related holding costs, are capitalized to the cost of the property during the period the property is undergoing activities to prepare it for its intended use. We capitalize interest costs as a cost of the property only during the period for which activities necessary to prepare an asset for its intended use are ongoing, provided that expenditures for the asset have been made and interest costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred. Single-Family Properties Under Development and Development Land Land and construction in progress for our AMH Development Program are presented separately in single-family properties under development and development land within the consolidated balance sheets. Our capitalization policy on development properties follows the guidance in ASC 835-20, Capitalization of Interest , and ASC 970, Real Estate-General . Costs directly related to the development of properties are capitalized and the costs of land and buildings under development include specifically identifiable costs. We also capitalize interest, real estate taxes, insurance, utilities, and payroll costs for land and construction in progress under active development once the applicable GAAP criteria have been met. Single-family Properties Held for Sale and Discontinued Operations Single-family properties and land lots are classified as held for sale when they meet the applicable GAAP criteria in accordance with ASC 360-10, Property, Plant, and Equipment—Overall , including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties and land lots are classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale, net within the consolidated balance sheets. As of December 31, 2022 and 2021, the Company had 1,115 and 659 single-family properties, respectively, classified as held for sale, and recorded $2.5 million, $0.2 million and $2.0 million of impairment on single-family properties held for sale for the years ended December 31, 2022, 2021 and 2020, respectively, which is included in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations. The results of operations of properties that have either been sold or classified as held for sale, if due to a strategic shift that has (or will have) a major effect on our operations or financial results, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations . During the years ended December 31, 2022, 2021 and 2020, none of the properties classified as held for sale met the criteria to be reported as a discontinued operation. Impairment of Long-lived Assets We evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date. No significant impairments on operating properties were recorded during the years ended December 31, 2022, 2021 and 2020. Land Option Contracts We enter into land option contracts to acquire the right to purchase land for our AMH Development Program. Under these contracts, we typically make a specified option payment or deposit in consideration for the right to purchase land in the future, usually at a predetermined price. We analyze these land option contracts under the variable interest model to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although the Company does not have legal title to the underlying land, we may be required to consolidate the related VIE if we are deemed to be the primary beneficiary. Deposits with land banking entities determined to be VIEs but not consolidated because we are not the primary beneficiary are at held at cost and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. As of December 31, 2022 and 2021, the carrying value of these deposits and the Company’s maximum exposure to loss was $14.5 million and zero, respectively. We also consider whether the land option contracts should be accounted for as financing arrangements when the land banking entity is not consolidated under the variable interest model, as may be required if the land banking entity or other third-party acquires specific land parcels directly from us, on our behalf or at our direction or where we make improvements to the underlying land during the option period. During the year ended December 31, 2022, the Company entered into land option agreements whereby it sold land to a third party with an option to repurchase finished lots on a predetermined schedule. Because of our options to repurchase the finished lots, in accordance with ASC 606-10-55-70, we accounted for these transactions as financing arrangements rather than a sale. Consolidated land not owned is included in escrow deposits, prepaid expenses and other assets and the liability for consolidated land not owned, which represents proceeds received from the third party net of our deposits on the optioned land, is included in accounts payable and accrued expenses in the consolidated balance sheets (see Note 5. Escrow Deposits, Prepaid Expenses and Other Assets and Note 8. Accounts Payable and Accrued Expenses). Commercial Office Leases We lease commercial office space from third parties for use in our corporate and property management operations. Commercial office leases are accounted for as operating leases in accordance with ASC 842, Leases , which requires us to recognize right-of-use assets and lease liabilities within the consolidated balance sheets for the rights and obligations created from these leases. Operating lease right-of-use assets and lease liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is generally not determinable, the right-of-use assets and lease liabilities are measured using our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Lease expense for operating leases is recognized on a straight-line basis over the expected lease term in general and administrative expense within the consolidated statements of operations. We elected the short-term lease measurement and recognition exemption and do not establish right-of-use assets or lease liabilities for operating leases with terms of twelve months or less. We also elected the practical expedient allowing us to avoid separating non-lease components from the associated lease component for our commercial office leases. The right-of-use assets and lease liabilities are presented in escrow deposits, prepaid expenses and other assets and accounts payable and accrued expenses, respectively, within the consolidated balance sheets. Depreciation and Amortization Depreciation is computed on a straight-line basis over the estimated useful lives of buildings, improvements and other assets. Buildings are depreciated over 30 years and improvements and other assets are depreciated over their estimated economic useful lives, generally three Intangible Assets Finite-lived intangible assets are amortized on a straight-line basis over their estimated economic lives. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset. No impairment was recorded during the years ended December 31, 2022, 2021 and 2020. Goodwill Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired in connection with the internalization of the Company’s management function in June 2013, including all administrative, financial, property management, marketing and leasing personnel, including executive management. Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other , which permits us to assess qualitative factors to determine whether it is more likely than not that the fair value of the reporting unit is less than the carrying amount as a basis to determine whether an impairment test is necessary. This qualitative assessment requires judgment to be applied in evaluating the effects of multiple factors, including macroeconomic conditions, industry and market conditions, cost factors, overall financial performance, other relevant entity-specific events, events affecting the reporting unit, and whether or not there has been a sustained decrease in the Company’s stock price. We also have the option to bypass the qualitative assessment for any reporting unit in any period and proceed directly to performing the goodwill impairment test. The impairment test compares the fair value of the reporting unit with its carrying amount. If the carrying amount exceeds the fair value, the impairment loss is determined as the excess of the carrying amount of the goodwill reporting unit over the fair value of that goodwill, not to exceed the carrying amount. Impairment charges, if any, are recognized in operating results. Based on our assessment of qualitative factors on December 31, 2022, we concluded it was more likely than not that the Company’s recorded goodwill balance of $120.3 million was not impaired and did not perform the quantitative test. No goodwill impairment was recorded during the years ended December 31, 2022, 2021 and 2020. Deferred Financing Costs Financing costs related to the origination of the Company’s debt instruments are deferred and amortized as interest expense under the effective interest method over the contractual term of the applicable financing. Financing costs related to the origination of the Company’s revolving credit facility are presented net of accumulated amortization and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Financing costs related to the origination of the Company’s unsecured senior notes and asset-backed securitizations are presented net of accumulated amortization and are netted against the related debt instrument under liabilities within the consolidated balance sheets. Cash, Cash Equivalents and Restricted Cash We consider all demand deposits, cashier’s checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant. Restricted cash primarily consists of funds held related to resident security deposits, cash reserves in accordance with certain loan agreements and funds held in the custody of our transfer agent for the payment of distributions. Funds held related to resident security deposits are restricted during the term of the related lease agreement, which is generally one year. Cash reserved in connection with lender requirements is restricted during the term of the related debt instrument. The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company’s and the Operating Partnership’s consolidated statements of cash flows to the corresponding financial statement line items in the consolidated balance sheets (amounts in thousands): December 31, 2022 2021 2020 Cash and cash equivalents $ 69,155 $ 48,198 $ 137,060 Restricted cash 148,805 143,569 128,017 Total cash, cash equivalents and restricted cash $ 217,960 $ 191,767 $ 265,077 Escrow Deposits Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties and deposits related to land option contracts (see Land Option Contracts above). In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risks and rewards of ownership of the property are transferred and the purchase is finalized. Investments in Unconsolidated Joint Ventures Investments in unconsolidated joint ventures are recorded initially at cost, and subsequently adjusted for equity in earnings and cash contributions and distributions. Under the equity method of accounting, our net equity investment is included in investments in unconsolidated joint ventures within the consolidated balance sheets, and our share of net income or loss from the joint ventures is included within other income and expense, net in the consolidated statements of operations. Our recognition of joint venture income or loss is generally based on ownership percentages, which may change upon the achievement of certain investment return thresholds. The ultimate realization of the investment in unconsolidated joint ventures is dependent on a number of factors, including the performance of each investment and market conditions. We classify distributions received from our unconsolidated joint ventures using the “cumulative earnings” approach, under which distributions up to the amount of cumulative equity in earnings recognized will be classified as cash inflows from operating activities, and those in excess of that amount will be classified as cash inflows from investing activities in our consolidated statements of cash flows. Our investments in unconsolidated joint ventures are reviewed for impairment periodically and we will record an impairment charge when events or circumstances change indicating that a decline in the fair values below the carrying values has occurred and such decline is other-than-temporary. During the year ended December 31, 2020, the Company recognized a $4.9 million impairment charge, of which $3.5 million was recognized in gain on sale and impairment of single-family properties and other, net and $1.4 million was recognized in other income and expense, net within the consolidated statements of operations, associated with the liquidation of legacy joint ventures, which were acquired as part of the American Residential Properties, Inc. (“ARPI”) merger in February 2016. Notes Receivable, Net The Company obtained promissory notes in connection with two bulk dispositions of our single-family properties. The promissory note obtained during the second quarter of 2019 was paid in full during the year ended December 31, 2022 and the promissory note obtained during the first quarter of 2017 matured in the first quarter of 2022 and is still being actively collected. The promissory notes are secured by first priority mortgages on the disposed homes, contain certain covenants and require monthly or quarterly interest payments with the full principal due at maturity. Notes receivable are presented net of discounts in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Interest income from the notes, including amortization of discounts, is presented in other income and expense, net within the consolidated statements of operations. Upon adoption of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , on January 1, 2020, we are required to estimate and recognize lifetime expected losses, rather than incurred losses, on these notes receivable, which results in the earlier recognition of credit losses even if the expected risk of credit loss is remote. Notes receivable are also presented net of the allowance for expected credit losses, which the Company estimates on a quarterly basis based on (i) credit quality indicators such as the borrower’s historical performance, including the borrower’s financial results and satisfaction of scheduled payments, (ii) current conditions, including macroeconomic conditions and other conditions affecting the borrower, and (iii) other reasonable and supportable forecasts about the future. As part of the monitoring process, we may meet with a borrower’s management to better understand such borrower’s financial performance and its future plans on an as-needed basis. A note receivable will be categorized as non-performing if a borrower experiences financial difficulty and has failed to make scheduled payments. Changes to the allowance for expected credit losses are recognized in other income and expense, net within the consolidated statements of operations. Revenue and Expense Recognition We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. In accordance with ASC 842, Leases , the Company classifies our single-family property leases as operating leases and elects to not separate the lease component, comprised of rents from single-family properties, from the associated non-lease component, comprised of fees from single-family properties and tenant charge-backs. The combined component is accounted for under ASC 842, while certain tenant charge-backs are accounted for as variable payments under ASC 606, Revenue from Contracts with Customers . Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned. Tenant charge-backs, which are primarily related to cost recoveries on utilities, are recognized as revenue on a gross basis in the period during which the expenses are incurred. We accrue for property taxes and homeowners’ association (“HOA”) assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period. Gains or losses on sales of properties and upon contributions to our unconsolidated joint ventures are recognized pursuant to the provisions included in ASC 610-20, Other Income . Under ASC 610-20, we must first determine whether the transaction is a sale to a customer or non-customer. We typically sell properties on a selective basis and not within the ordinary course of our operating business and therefore expect that our sale transactions will not be contracts with customers. We next determine whether we have a controlling financial interest in the property after the sale, consistent with the consolidation model in ASC 810, Consolidation . If we determine that we do not have a controlling financial interest in the real estate, we evaluate whether a contract exists under ASC 606 and whether the buyer has obtained control of the asset that was sold. We recognize a full gain or loss on sale, which is presented in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations, when the derecognition criteria under ASC 610-20 have been met. Leasing Costs Our leasing costs are accounted for under the provisions of ASC 842, Leases. Direct costs incurred due to the execution of a lease are initially capitalized and then amortized over the term of the lease, which is generally one year. Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consists primarily of trade payables, accrued interest, distribution payables, resident security deposits, prepaid rent, construction and maintenance liabilities, HOA fees, operating lease liabilities and property tax accruals as of the end of the respective period presented. It also consists of liabilities for consolidated land not owned (see Land Option Contracts above) and contingent loss accruals, if any, when such losses are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure. Share-Based Compensation Our 2012 Equity Incentive Plan and 2021 Equity Incentive Plan (collectively, the “Plans”) are accounted for under the provisions of ASC 718, Compensation—Stock Compensation . Noncash share-based compensation costs related to options to purchase our Class A common shares, restricted share units (“RSUs”) and performance-based restricted share units (“PSUs”) issued to members of the Company’s board of trustees and employees is based on the fair value of the options, RSUs and PSUs on the grant date and generally amortized over the service period. At the time of grant, the Company takes into consideration the timing of the equity award and evaluates for conditions that could result in the award to be considered spring-loaded, in which case the fair value would be adjusted. During the years ended December 31, 2022, 2021 and 2020, the Company did not grant equity awards that would be considered spring-loaded. Forfeitures are recognized as they occur. The Plans allow for continued release of awards based on the original vesting schedule, rather than forfeiture, of unvested share-based grants upon terminati

Real Estate Assets, Net

Real Estate Assets, Net	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Real Estate Assets, Net	Real Estate Assets, Net The net book values of real estate assets consisted of the following as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Occupied single-family properties $ 9,419,098 $ 8,522,080 Single-family properties leased, not yet occupied 52,325 77,221 Single-family properties in turnover process 281,356 184,170 Single-family properties recently renovated or developed 182,336 126,379 Single-family properties newly acquired and under renovation 3,557 337,643 Single-family properties in operation, net 9,938,672 9,247,493 Development land 631,539 549,653 Single-family properties under development 555,682 332,506 Single-family properties held for sale, net 198,716 114,907 Total real estate assets, net $ 11,324,609 $ 10,244,559 Depreciation expense related to single-family properties was $410.4 million, $357.8 million and $330.2 million for the years ended December 31, 2022, 2021 and 2020, respectively. Hurricane Ian impacted certain properties primarily located in Florida, South Carolina and North Carolina during the year ended December 31, 2022. The Company’s property and casualty insurance policies provide coverage for wind and flood damage, as well as business interruption costs, during the period of remediation and repairs, subject to deductibles and limits. During the year ended December 31, 2022, the Company recognized $8.9 million in gross charges primarily related to an estimated accrual for minor repair and remediation costs, partially offset by an estimated $2.8 million of related insurance claims that we believe is probable we will recover. The $6.1 million of net charges are included in hurricane-related charges, net within the consolidated statement of operations for year ended December 31, 2022. The following table summarizes the Company’s dispositions of single-family properties and land for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands, except property data): For the Years Ended December 31, 2022 2021 2020 Single-family properties: Properties sold 987 481 1,047 Net proceeds (1) $ 288,030 $ 130,825 $ 228,495 Net gain on sale $ 140,537 $ 50,543 $ 47,187 Land: Net proceeds $ 4,479 $ 1,247 $ 71 Net gain on sale $ 777 $ 136 $ 7 (1) Net proceeds are net of deductions for working capital prorations.

Rent and Other Receivables

Rent and Other Receivables	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Rent and Other Receivables	Rent and Other ReceivablesIncluded in rents and other single-family property revenues are variable lease payments for tenant charge-backs, which primarily relate to cost recoveries on utilities, and variable lease payments for fees from single-family properties. Variable lease payments for tenant charge-backs were $202.6 million, $178.3 million and $160.8 million for the years ended December 31, 2022, 2021 and 2020, respectively. Variable lease payments for fees from single-family properties were $27.0 million, $22.6 million and $16.4 million for the years ended December 31, 2022, 2021 and 2020, respectively. The Company generally rents its single-family properties under non-cancelable lease agreements with a term of one year. The following table summarizes future minimum rental revenues under existing leases on our properties as of December 31, 2022 (amounts in thousands): December 31, 2022 2023 $ 693,989 2024 37,521 2025 32 Total $ 731,542 Rent and other receivables included $5.0 million of insurance claims receivables related to Hurricane Ian and Winter Storm Elliott as of December 31, 2022 and $1.9 million of insurance claims receivables related to Winter Storm Uri as of December 31, 2021. The Company collected $2.0 million and $4.8 million in proceeds from storm-related insurance claims during the years ended December 31, 2022 and 2021, respectively, and collected $4.0 million in proceeds from insurance claims related to legal recoveries and $3.7 million in proceeds from hurricane-related insurance claims during the year ended December 31, 2020.

Escrow Deposits, Prepaid Expens

Escrow Deposits, Prepaid Expenses and Other Assets	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Escrow Deposits, Prepaid Expenses and Other Assets	Escrow Deposits, Prepaid Expenses and Other Assets The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Consolidated land not owned (see Note 2) $ 108,114 $ — Escrow deposits, prepaid expenses and other 105,811 88,414 Commercial real estate, software, vehicles and FF&E, net 85,772 62,462 Operating lease right-of-use assets 19,129 17,269 Deferred costs and other intangibles, net 10,237 13,134 Notes receivable, net 2,383 35,346 Total $ 331,446 $ 216,625 Depreciation expense related to commercial real estate, software, vehicles and furniture, fixtures and equipment (“FF&E”), net was $13.4 million, $11.2 million and $8.9 million for the years ended December 31, 2022, 2021 and 2020, respectively. Deferred Costs and Other Intangibles, Net Deferred costs and other intangibles, net, consisted of the following as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Deferred leasing costs $ 2,375 $ 3,090 Deferred financing costs 22,491 22,491 24,866 25,581 Less: accumulated amortization (14,629) (12,447) Total $ 10,237 $ 13,134 Amortization expense related to deferred leasing costs was $2.7 million, $3.9 million and $4.1 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in depreciation and amortization within the consolidated statements of operations. Amortization of deferred financing costs that relate to our revolving credit facility was $2.7 million, $2.5 million and $2.0 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in gross interest, prior to interest capitalization (see Note 7. Debt). The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2022 for future periods (amounts in thousands): Deferred Leasing Costs Deferred Financing Costs Total 2023 $ 1,279 $ 2,722 $ 4,001 2024 — 2,730 2,730 2025 — 2,722 2,722 2026 — 784 784 Total $ 1,279 $ 8,958 $ 10,237

Investments in Unconsolidated J

Investments in Unconsolidated Joint Ventures	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures As of December 31, 2022, the Company held 20% ownership interests in three unconsolidated joint ventures. In evaluating the Company’s 20% ownership interests in these joint ventures, we concluded that the joint ventures are not VIEs after applying the variable interest model and, therefore, we account for our interests in the joint ventures as investments in unconsolidated subsidiaries after applying the voting interest model using the equity method of accounting. Equity in net income (losses) of unconsolidated joint ventures is included in other income and expense, net within the consolidated statements of operations. During the second quarter of 2014, the Company entered into a joint venture with the Alaska Permanent Fund Corporation (the “Alaska JV”) to invest in homes acquired through traditional acquisition channels. During the third quarter of 2018, the Company entered into a joint venture with another leading institutional investor (the “Institutional Investor JV”) to invest in newly constructed single-family rental homes, which was subsequently amended and upsized to $312.5 million during the third quarter of 2019. The initial term of the joint venture with Institutional Investor JV is five years from the effective date of the amended agreement, during which neither member may unilaterally market properties for sale. During the first quarter of 2020, the Company entered into a $253.1 million strategic joint venture, which has an evergreen term, with institutional investors advised by J.P. Morgan Asset Management (the “J.P. Morgan JV”) focused on constructing and operating newly built rental homes, which was subsequently upsized to $625.0 million during the second quarter of 2020. Subsequent to December 31, 2022, the parties agreed to reinvest proceeds from debt financing obtained in the first quarter of 2022 (see below) to increase the size of the partnership up to approximately $900.0 million. The changes do not impact the accounting treatment of the joint venture. The following table summarizes our investments in unconsolidated joint ventures (amounts in thousands, except percentages and property data): Joint Venture Description % Ownership at December 31, 2022 Completed Homes at Balances at Balances at Alaska JV 20 % 259 $ 18,890 $ 22,658 Institutional Investor JV 20 % 967 16,567 28,695 J.P. Morgan JV 20 % 1,314 71,890 70,597 2,540 $ 107,347 $ 121,950 The Company provides various services to these joint ventures, which are considered to be related parties, including property management and development services and has opportunities to earn promoted interests. Management fee and development fee income from unconsolidated joint ventures was $13.9 million, $10.3 million and $5.8 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in other income and expense, net within the consolidated statements of operations. As a result of the Company’s management of these joint ventures, certain related party receivables and payables arise in the ordinary course of business and are included in escrow deposits, prepaid expenses and other assets or amounts payable to affiliates in the consolidated balance sheets. During the first quarter of 2022, the Company acquired 200 properties in a bulk transaction from the Institutional Investor JV for total consideration of $74.6 million, of which (i) $66.2 million was paid in cash and included in cash paid for single-family properties in the consolidated statements of cash flows and (ii) $8.4 million was recorded as a noncash distribution resulting in a reduction to our equity method investment. The transaction was accounted for as an asset acquisition and resulted in a gain on sale at the Institutional Investor JV. Recognition of our pro rata portion of the gain on sale has been deferred by reducing the carrying value of the acquired properties in our consolidated balance sheets. During the third quarter of 2020, the Institutional Investor JV entered into a loan agreement to borrow up to a $201.0 million aggregate commitment that bore interest at the London Inter-Bank Offered Rate (“LIBOR”) plus a 3.50% margin. The Institutional Investor JV amended its loan agreement during the third quarter of 2022 to increase its borrowing capacity to $250.0 million. The amended loan bears interest at an adjusted Secured Overnight Financing Rate (“SOFR”) plus a 2.40% margin during the during the initial two-year term and matures on July 1, 2024. The amended loan agreement provides for two one-year extension options that include additional fees and interest. As of December 31, 2022, the Institutional Investor JV’s loan had a $232.7 million outstanding principal balance. During the first quarter of 2022, the J.P. Morgan JV entered into a loan agreement to borrow up to a $375.0 million aggregate commitment. The loan bears interest at an adjusted SOFR plus a 1.50% margin during the initial three-year term and matures on January 28, 2025. The loan agreement provides for one one-year extension option that includes additional fees and interest. As of December 31, 2022, the J.P. Morgan JV’s loan had a $260.3 million outstanding principal balance. The Company has provided customary non-recourse guarantees for the J.P. Morgan JV and Institutional Investor JV loans that may become a liability for us upon a voluntary bankruptcy filing by the joint venture or the occurrence of other actions such as fraud or a material misrepresentation by us or the joint venture. To date, the guarantees have not been invoked, and we believe that the actions that would trigger a guarantee would generally be disadvantageous to the joint ventures and us and therefore are unlikely to occur. However, there can be no assurances that actions that could trigger the guarantee will not occur.

Debt

Debt	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt All of the Company’s indebtedness is debt of the Operating Partnership. AMH is not directly obligated under any indebtedness, but guarantees some of the debt of the Operating Partnership. The following table presents the Company’s debt as of December 31, 2022 and 2021 (amounts in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date December 31, 2022 December 31, 2021 AMH 2014-SFR2 securitization 4.42 % October 9, 2024 $ 468,138 $ 473,594 AMH 2014-SFR3 securitization 4.40 % December 9, 2024 482,964 488,790 AMH 2015-SFR1 securitization (2) 4.14 % April 9, 2045 508,672 514,868 AMH 2015-SFR2 securitization (3) 4.36 % October 9, 2045 441,854 446,929 Total asset-backed securitizations 1,901,628 1,924,181 2028 unsecured senior notes (4) 4.08 % February 15, 2028 500,000 500,000 2029 unsecured senior notes 4.90 % February 15, 2029 400,000 400,000 2031 unsecured senior notes (5) 2.46 % July 15, 2031 450,000 450,000 2032 unsecured senior notes 3.63 % April 15, 2032 600,000 — 2051 unsecured senior notes 3.38 % July 15, 2051 300,000 300,000 2052 unsecured senior notes 4.30 % April 15, 2052 300,000 — Revolving credit facility (6) 5.29 % April 15, 2026 130,000 350,000 Total debt 4,581,628 3,924,181 Unamortized discounts on unsecured senior notes (36,099) (15,561) Deferred financing costs, net (7) (29,531) (28,142) Total debt per balance sheet $ 4,515,998 $ 3,880,478 (1) Interest rates are rounded and as of December 31, 2022. Unless otherwise stated, interest rates are fixed percentages. (2) The AMH 2015-SFR1 securitization has an anticipated repayment date of April 9, 2025. (3) The AMH 2015-SFR2 securitization has an anticipated repayment date of October 9, 2025. (4) The stated interest rate on the 2028 unsecured senior notes is 4.25%, which was hedged to yield an interest rate of 4.08%. (5) The stated interest rate on the 2031 unsecured senior notes is 2.38%, which was hedged to yield an interest rate of 2.46%. (6) The revolving credit facility provides for a borrowing capacity of up to $1.25 billion, and the Company had approximately $4.0 million and $1.6 million committed to outstanding letters of credit that reduced our borrowing capacity as of December 31, 2022 and 2021, respectively. The revolving credit facility bears interest at LIBOR plus 0.90% as of December 31, 2022. (7) Deferred financing costs relate to our asset-backed securitizations and unsecured senior notes. Amortization of deferred financing costs related to our asset-backed securitizations and unsecured senior notes was $6.8 million, $6.1 million and $5.9 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in gross interest, prior to interest capitalization. Debt Maturities The following table summarizes the contractual maturities of the Company’s principal debt balances on a fully extended basis as of December 31, 2022 (amounts in thousands): Debt Maturities 2023 $ 20,714 2024 950,992 2025 10,302 2026 140,302 2027 10,302 Thereafter 3,449,016 Total debt $ 4,581,628 Encumbered Properties The following table displays the number of properties pledged as collateral for the Company’s asset-backed securitization loans and the aggregate net book values as of December 31, 2022 and 2021 (amounts in thousands, except property data): December 31, 2022 December 31, 2021 Number of Properties Net Book Value Number of Properties Net Book Value AMH 2014-SFR2 securitization 4,530 $ 550,581 4,526 $ 559,257 AMH 2014-SFR3 securitization 4,563 598,189 4,570 605,420 AMH 2015-SFR1 securitization 4,691 596,236 4,690 606,385 AMH 2015-SFR2 securitization 4,168 554,608 4,168 562,443 Total encumbered properties 17,952 $ 2,299,614 17,954 $ 2,333,505 Asset-backed Securitizations The Company completed multiple asset-backed securitizations, all of which have certain general characteristics in common. The asset-backed securitization transactions resulted in newly-formed special purpose entities (the “Borrowers”), which entered into loans with third-party lenders. The Borrowers are each wholly owned by respective special purpose entities (the “Equity Owners”), which are wholly owned by the Operating Partnership. The loans were represented by promissory notes that were immediately transferred by the third-party lenders to subsidiaries of the Company and then to Real Estate Mortgage Investment Conduit (“REMIC”) trusts in exchange for single-family rental pass-through certificates representing the beneficial ownership interests in the respective loans and trusts. Upon receipt of the certificates, the subsidiaries sold the certificates to investors. The principal amount of each class of certificates corresponds to the corresponding principal amount of the loan components with an additional class to hold the residual REMIC interest. The loans require monthly payments of interest together with principal payments representing one-twelfth of one percent of the original principal amount of the loans. The loans are secured by first priority mortgages on pools of single-family residential properties transferred to the Borrowers from the Company’s portfolio of properties. The Borrowers’ homes were substantially similar to the other properties owned by the Company and were leased to tenants underwritten on substantially the same basis as the tenants in the Company’s other properties. During the duration of the loans, the Borrowers’ properties may not generally be transferred, sold or otherwise securitized and the Company can substitute properties if a property owned by the Borrowers becomes a disqualified property under the terms of the loan or voluntarily with properties eligible for substitution, in limited circumstances, subject to the terms, conditions and limitations provided in the loan agreements. The loans are also secured by a security interest in all of the Borrowers’ personal property and a pledge of all of the assets of the Equity Owners, including a security interest in their membership interests in the Borrowers. The Company provides a limited guaranty (i) for certain losses arising out of designated acts of intentional misconduct and (ii) for the principal amount of the loans and all other obligations under the loan agreements in the event of insolvency or bankruptcy proceedings. The Company accounted for the transfers of the notes from its subsidiaries to the trusts as sales under ASC 860, Transfers and Servicing , with no resulting gain or loss as the notes were both originated by the third-party lenders and immediately transferred at the same fair market value. The Company also evaluated and did not identify any variable interests in the trusts. Accordingly, the Company consolidates, at historical cost basis, the homes placed as collateral for the notes, and the principal balances outstanding on the notes are included in asset-backed securitizations, net within the consolidated balance sheets. The loan agreements provide that the Borrowers maintain covenants typical for securitization transactions including maintaining certain reserve accounts and a debt service coverage ratio of at least 1.20 to 1.00. The loan agreements define the debt service coverage ratio as of any determination date as a ratio in which the numerator is the net cash flow divided by the aggregate debt service for the 12-month period following the date of determination. AMH 2014-SFR2 Securitization The AMH 2014-SFR2 securitization completed during the third quarter of 2014 is a fixed-rate loan for $513.3 million with a 10-year term maturing on October 9, 2024 and has a duration-adjusted weighted-average interest rate of 4.42%. The loan was originally secured by first priority mortgages on a portfolio of 4,487 single-family residential properties. In addition to the single-family rental pass-through certificates sold to third parties, the Company acquired all of the Class F certificates, which bear no interest, for $25.7 million. The Company evaluated the purchased Class F certificates as a variable interest in the trust and concluded that the Class F certificates will not absorb a majority of the trust’s expected losses or receive a majority of the trust’s expected residual returns. The Company also concluded that the Class F certificates do not provide the Company with an ability to direct activities that could impact the trust’s economic performance. The Company does not consolidate the trust and the $25.7 million of purchased Class F certificates are reflected as asset-backed securitization certificates in the Company’s consolidated balance sheets and as amounts due from affiliates in the Operating Partnership’s consolidated balance sheets. Gross proceeds to the Company from the transaction, after purchase of the Class F certificates, were $487.7 million, before issuance costs of $12.9 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AMH 2014-SFR3 Securitization The AMH 2014-SFR3 securitization completed during the fourth quarter of 2014 is a fixed-rate loan for $528.4 million with a 10-year term maturing on December 9, 2024 and has a duration-adjusted weighted-average interest rate of 4.40%. The loan was originally secured by first priority mortgages on a portfolio of 4,503 single-family residential properties owned by the Borrower. Gross proceeds from the transaction were $528.4 million, before issuance costs of $12.9 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AMH 2015-SFR1 Securitization The AMH 2015-SFR1 securitization completed during the first quarter of 2015 is a fixed-rate loan for $552.8 million with a 30-year term maturing on April 9, 2045 and has a duration-adjusted weighted-average interest rate of 4.14%. The loan was originally secured by first priority mortgages on a pool of 4,661 single-family residential properties owned by the Borrower and has an anticipated repayment date of April 9, 2025. Gross proceeds from the transaction were $552.8 million, before issuance costs of $13.3 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. AMH 2015-SFR2 Securitization The AMH 2015-SFR2 securitization completed during the third quarter of 2015 is a fixed-rate loan for $477.7 million with a 30-year term maturing on October 9, 2045 and has a duration-adjusted weighted-average interest rate of 4.36%. The loan was originally secured by first priority mortgages on a portfolio of 4,125 single-family residential properties owned by the Borrower and has an anticipated repayment date of October 9, 2025. Gross proceeds from the transaction were $477.7 million, before issuance costs of $11.3 million, and were used to pay down the outstanding balance on the credit facility and for general corporate purposes. Unsecured Senior Notes During the second quarter of 2022, the Operating Partnership issued $600.0 million of 3.625% unsecured senior notes with a maturity date of April 15, 2032 (the “2032 Notes”) and $300.0 million of 4.300% unsecured senior notes with a maturity date of April 15, 2052 (the “2052 Notes” and, together with the 2032 Notes, the “2032 and 2052 Notes”). Interest on the 2032 and 2052 Notes is payable semi-annually in arrears on April 15 and October 15 of each year, which commenced on October 15, 2022. The Operating Partnership received aggregate net proceeds of $870.3 million from these issuances, after underwriting fees of approximately $6.5 million and a $23.2 million discount, and before offering costs of approximately $1.7 million. The Operating Partnership used net proceeds from this offering to repay amounts outstanding on its revolving credit facility, for the redemption of its Series F perpetual preferred shares and for general corporate purposes. The Operating Partnership may redeem the 2032 and 2052 Notes in whole at any time or in part from time to time at the applicable redemption price specified in the indentures with respect to the 2032 and 2052 Notes. If the 2032 Notes are redeemed on or after January 15, 2032 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. If the 2052 Notes are redeemed on or after October 15, 2051 (six months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. During the third quarter of 2021, the Operating Partnership issued $450.0 million of 2.375% unsecured senior notes with a maturity date of July 15, 2031 (the “2031 Notes”) and $300.0 million of 3.375% unsecured senior notes with a maturity date of July 15, 2051 (the “2051 Notes” and, together with the 2031 Notes, the “2031 and 2051 Notes”). Interest on the 2031 and 2051 Notes is payable semi-annually in arrears on January 15 and July 15 of each year, which commenced on January 15, 2022. The Operating Partnership received aggregate net proceeds of $731.6 million from these issuances, after underwriting fees of approximately $5.6 million and a $12.8 million discount, and before offering costs of $1.4 million. The Operating Partnership used the net proceeds from this offering to repay amounts outstanding on its revolving credit facility and for general corporate purposes, including, without limitation, property acquisitions and developments, the expansion, redevelopment and/or improvement of existing properties in the Operating Partnership’s portfolio, other capital expenditures, the redemption of its preferred shares, the repayment of outstanding indebtedness, working capital and other general purposes. The Operating Partnership may redeem the 2031 and 2051 Notes in whole at any time or in part from time to time at the applicable redemption price specified in the indentures with respect to the 2031 and 2051 Notes. If the 2031 Notes are redeemed on or after April 15, 2031 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. If the 2051 Notes are redeemed on or after January 15, 2051 (six months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. Including the effect of a cash flow hedging instrument settled during the second quarter of 2021 (see Note 12. Fair Value), the 2031 Notes yield an effective interest rate of 2.46%. During the first quarter of 2019, the Operating Partnership issued $400.0 million of 4.90% unsecured senior notes with a maturity date of February 15, 2029 (the “2029 Notes”). Interest on the 2029 Notes is payable semi-annually in arrears on February 15 and August 15 of each year, which commenced on August 15, 2019. The Operating Partnership received net proceeds of $395.3 million from this issuance, after underwriting fees of approximately $2.6 million and a $2.1 million discount, and before offering costs of $1.0 million. The Operating Partnership used the net proceeds from this issuance to repay amounts outstanding on our revolving credit facility and for general corporate purposes. The Operating Partnership may redeem the 2029 Notes at any time, in whole or in part, at the applicable redemption price specified in the indenture with respect to the 2029 Notes. If the 2029 Notes are redeemed on or after November 15, 2028 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2029 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. During the first quarter of 2018, the Operating Partnership issued $500.0 million of 4.25% unsecured senior notes with a maturity date of February 15, 2028 (the “2028 Notes”). Interest on the 2028 Notes is payable semi-annually in arrears on February 15 and August 15 of each year, which commenced on August 15, 2018. The Operating Partnership received net proceeds of $494.0 million from this issuance, after underwriting fees of approximately $3.2 million and a $2.8 million discount, and before offering costs of $1.9 million. The net proceeds from this issuance were used for general corporate purposes, including, without limitation, acquisitions of additional properties, the repayment of outstanding indebtedness, capital expenditures, the expansion, redevelopment and/or improvement of our properties, working capital and other general purposes, including repurchases of securities. The Operating Partnership may redeem the 2028 Notes at any time, in whole or in part, at the applicable redemption price specified in the indenture with respect to the 2028 Notes. If the 2028 Notes are redeemed on or after November 15, 2027 (three months prior to the maturity date), the redemption price will be equal to 100% of the principal amount of the 2028 Notes being redeemed plus accrued and unpaid interest thereon to, but not including, the redemption date. Including the effect of a cash flow hedging instrument settled during the first quarter of 2018, the 2028 Notes yield an effective interest rate of 4.08%. The 2028 Notes, 2029 Notes, 2031 Notes, 2032 Notes, 2051 Notes and 2052 Notes are the Operating Partnership’s unsecured and unsubordinated obligations and rank equally in right of payment with all of the Operating Partnership’s existing and future unsecured and unsubordinated indebtedness. The indentures require that we maintain certain financial covenants. Revolving Credit Facility During the second quarter of 2021, the Company closed a $1.25 billion revolving credit facility, amending its existing $800 million revolving credit facility. The amended revolving credit facility provides for expanded borrowing capacity, reflects a more favorable pricing grid based on current market conditions, and includes a sustainability component based upon third-party performance measures through which overall pricing can further improve if the Company meets certain targets. The interest rate on the amended revolving credit facility is at either LIBOR plus a margin ranging from 0.725% to 1.45% or a base rate (determined according to the greater of a prime rate, federal funds rate plus 0.5% or daily LIBOR rate plus 1.0%) plus a margin ranging from 0.00% to 0.45%. In each case the actual margin is determined based on the Company’s credit ratings in effect from time to time. The amended revolving credit facility matures on April 15, 2025, with two six-month extension options at the Company’s election if certain conditions are met. In addition, the Company is required to pay a facility fee of an amount ranging from 0.125% to 0.30% of the aggregate amount of the revolving commitments, which fee is also based on the Company’s credit rating. Interest Expense The following table summarizes our (i) gross interest cost, which includes fees on our credit facilities and amortization of deferred financing costs and the discounts on unsecured senior notes and (ii) capitalized interest for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands): For the Years Ended December 31, 2022 2021 2020 Gross interest cost $ 186,956 $ 148,689 $ 137,034 Capitalized interest (52,085) (33,796) (19,996) Interest expense $ 134,871 $ 114,893 $ 117,038

Accounts Payable and Accrued Ex

Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses The following table summarizes accounts payable and accrued expenses as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Resident security deposits $ 119,386 $ 105,809 Accrued construction and maintenance liabilities 86,775 50,655 Liability for consolidated land not owned (see Note 2) 69,434 — Accrued property taxes 51,586 52,545 Accrued interest 40,126 33,332 Prepaid rent 26,922 31,190 Operating lease liabilities 20,755 18,723 Accounts payable 5,719 1,113 Other accrued liabilities 63,700 50,159 Total $ 484,403 $ 343,526

Shareholders' Equity _ Partners

Shareholders' Equity / Partners' Capital	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Shareholders' Equity / Partners' Capital	Shareholders’ Equity / Partners’ Capital When the Company issues common or preferred shares, the Operating Partnership issues an equivalent number of units of partnership interest of a corresponding class to AMH, with the Operating Partnership receiving the net proceeds from the share issuances. Class A Common Shares / Units Class A units represent voting equity interests in the Operating Partnership. Holders of Class A units in the Operating Partnership have the right to redeem the units for cash or, at the election of the Company, exchange the units for AMH’s Class A common shares on a one-for-one basis. AMH owned 87.3% and 86.8% of the total 404,893,881 and 389,374,771 Class A units outstanding as of December 31, 2022 and 2021, respectively. During the first quarter of 2022, the Company completed an underwritten public offering for 23,000,000 of its Class A common shares of beneficial interest, $0.01 par value per share, of which 10,000,000 shares were issued directly by the Company and 13,000,000 shares were offered on a forward basis at the request of the Company by the forward sellers. In connection with this offering, the Company entered into forward sale agreements with the forward purchasers (the “2022 Forward Sale Agreements”) for these 13,000,000 shares which are accounted for in equity. The Company received net proceeds of $375.8 million from the 10,000,000 Class A common shares issued directly by the Company after deducting underwriting fees and before offering costs of approximately $0.2 million. The Company did not initially receive proceeds from the sale of the Class A common shares offered on a forward basis. During the third quarter of 2022, the Company issued and physically settled 5,000,000 Class A common shares under the 2022 Forward Sale Agreements, receiving net proceeds of $185.6 million. The Company used these net proceeds to repay indebtedness under its revolving credit facility and for general corporate purposes. As of December 31, 2022, 8,000,000 Class A common shares remained available for future settlement under the 2022 Forward Sale Agreements. In January 2023, the Company issued and physically settled the remaining 8,000,000 Class A common shares, receiving net proceeds of $298.4 million. The Company used these net proceeds to repay indebtedness under its revolving credit facility and for general corporate purposes. During the second quarter of 2021, the Company completed an underwritten public offering for 18,745,000 of its Class A common shares of beneficial interest, $0.01 par value per share, of which 5,500,000 shares were issued directly by the Company and 13,245,000 shares were offered on a forward basis at the request of the Company by the forward sellers. In connection with this offering, the Company entered into forward sale agreements with the forward purchasers (the “2021 Forward Sale Agreements”) for these 13,245,000 shares which are accounted for in equity. The Company received net proceeds of $194.0 million from the 5,500,000 Class A common shares issued directly by the Company after deducting underwriting fees and before offering costs of approximately $0.2 million. The Company used the net proceeds to repay indebtedness under its revolving credit facility, to partially fund the redemption of its Series D and Series E perpetual preferred shares discussed below and for general corporate purposes. The Company did not initially receive proceeds from the sale of the Class A common shares offered on a forward basis. During the third and fourth quarters of 2021, the Company issued and physically settled all 13,245,000 Class A common shares under the 2021 Forward Sale Agreements, receiving net proceeds of $463.5 million. The Company used these net proceeds for general corporate purposes including property acquisitions and developments. During the third quarter of 2020, the Company issued 14,950,000 Class A common shares of beneficial interest, $0.01 par value per share, in an underwritten public offering, raising net proceeds of $411.7 million after deducting underwriting fees and before offering costs of approximately $0.2 million. The Company used the net proceeds from this offering (i) to repay indebtedness the Company had incurred under its revolving credit facility (ii) to develop new single-family properties and communities, (iii) to acquire and renovate single-family properties and for related activities in accordance with its business strategy and (iv) for general corporate purposes. At-the-Market Common Share Offering Program During the second quarter of 2020, the Company extended its at-the-market common share offering program under which it can issue Class A common shares from time to time through various sales agents up to an aggregate gross sales offering price of $500.0 million (the “At-the-Market Program”). The At-the-Market Program also provides that we may enter into forward contracts for our Class A common shares with forward sellers and forward purchasers. The Company intends to use any net proceeds from the At-the-Market Program (i) to repay indebtedness the Company has incurred or expects to incur under its revolving credit facility, (ii) to develop new single-family properties and communities, (iii) to acquire and renovate single-family properties and for related activities in accordance with its business strategy and (iv) for working capital and general corporate purposes, including repurchases of the Company’s securities, acquisitions of additional properties, capital expenditures and the expansion, redevelopment and/or improvement of properties in the Company’s portfolio. The At-the-Market Program may be suspended or terminated by the Company at any time. During the year ended December 31, 2022, no shares were issued under the At-the-Market Program. During the year ended December 31, 2021, the Company issued 1,749,286 Class A common shares under the At-the-Market Program, raising $72.3 million in gross proceeds before commissions and other expenses of approximately $1.1 million. During the year ended December 31, 2020, the Company issued 86,130 Class A common shares under the At-the-Market Program, raising $2.4 million in gross proceeds before commissions and other expenses of approximately $0.4 million. As of December 31, 2022, 1,835,416 shares have been issued under the At-the-Market Program and $425.2 million remained available for future share issuances. Share Repurchase Program The Company’s board of trustees authorized the establishment of our share repurchase program for the repurchase of up to $300.0 million of our outstanding Class A common shares and up to $250.0 million of our outstanding preferred shares from time to time in the open market or in privately negotiated transactions. The program does not have an expiration date, but may be suspended or discontinued at any time without notice. All repurchased shares are constructively retired and returned to an authorized and unissued status. The Operating Partnership funds the repurchases and constructively retires an equivalent number of corresponding Class A units. During the years ended December 31, 2022, 2021 and 2020, we did not repurchase and retire any of our Class A common shares or preferred shares. As of December 31, 2022, we had a remaining repurchase authorization of up to $265.1 million of our outstanding Class A common shares and up to $250.0 million of our outstanding preferred shares under the program. Class B Common Shares Former American Homes 4 Rent, LLC (“AH LLC”) members received 635,075 Class B common shares in connection with their contributions of properties and funds to the Company. The Operating Partnership issued an equivalent number of corresponding Class A units to AMH in exchange for the proceeds and properties contributed in the transaction. Each Class B common share generally entitles the holder to 50 votes on all matters that the holders of Class A common shares are entitled to vote. The issuance of Class B common shares to former AH LLC members allows former AH LLC members a voting right associated with their investment in the Company no greater than if they had solely received Class A common shares. Additionally, when the voting interest from Class A common shares and Class B common shares are added together, a shareholder is limited to a 30% total voting interest. Each Class B common share has the same economic interest as a Class A common share. Perpetual Preferred Shares / Units As of December 31, 2022 and 2021, the Company had the following series of perpetual preferred shares outstanding (amounts in thousands, except share data): December 31, 2022 December 31, 2021 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value Outstanding Shares Current Liquidation Value Series F perpetual preferred shares April 24, 2017 April 24, 2022 5.875 % — $ — 6,200,000 $ 155,000 Series G perpetual preferred shares July 17, 2017 July 17, 2022 5.875 % 4,600,000 115,000 4,600,000 115,000 Series H perpetual preferred shares September 19, 2018 September 19, 2023 6.250 % 4,600,000 115,000 4,600,000 115,000 Total preferred shares 9,200,000 $ 230,000 15,400,000 $ 385,000 Perpetual preferred shares represent non-voting preferred equity interests in the Company and entitle holders to a cumulative annual cash dividend, based on the respective dividend rate in the table above, which is applied to the liquidation preference at issuance of $25.00 per share. The Operating Partnership issues an equivalent number of corresponding perpetual preferred units for the given class to AMH in exchange for the net proceeds from the share issuances. The Company may, at its option, redeem the perpetual preferred shares for cash, in whole or in part, from time to time, at any time on or after the earliest redemption date shown in the table above or within 120 days after the occurrence of a change in control at a redemption price equal to the $25.00 per share liquidation preference, plus any accumulated and unpaid dividends. During the second quarter of 2022, the Company redeemed all 6,200,000 shares of the outstanding 5.875% Series F perpetual preferred shares, $0.01 par value per share, for cash at the liquidation preference of $25.00 per share plus any accrued and unpaid dividends in accordance with the terms of such shares. The Operating Partnership also redeemed its corresponding Series F perpetual preferred units. As a result of the redemption, the Company recorded a $5.3 million allocation of income to the Series F perpetual preferred shareholders within the consolidated statements of operations during the year ended December 31, 2022, which represents the initial liquidation value of the Series F perpetual preferred shares in excess of its carrying value as of the redemption date. During the second quarter of 2021, the Company redeemed all 10,750,000 shares of the outstanding 6.500% Series D perpetual preferred shares, $0.01 par value per share, for cash at a liquidation preference of $25.00 per share plus any accrued and unpaid dividends in accordance with the terms of such shares. The Operating Partnership also redeemed its corresponding Series D perpetual preferred units. As a result of the redemption, the Company recorded an $8.5 million allocation of income to the Series D perpetual preferred shareholders within the consolidated statements of operations during the year ended December 31, 2021, which represents the initial liquidation value of the Series D perpetual preferred shares in excess of its carrying value as of the redemption date. During the second quarter of 2021, the Company redeemed all 9,200,000 shares of the outstanding 6.350% Series E perpetual preferred shares, $0.01 par value per share, for cash at a liquidation preference of $25.00 per share plus accrued and unpaid dividends in accordance with the terms of such shares. The Operating Partnership also redeemed its corresponding Series E perpetual preferred units. As a result of the redemption, the Company recorded a $7.4 million allocation of income to the Series E perpetual preferred shareholders within the consolidated statements of operations during the year ended December 31, 2021, which represents the initial liquidation value of the Series E perpetual preferred shares in excess of its carrying value as of the redemption date. Distributions As a REIT, we generally are required to distribute annually to our shareholders at least 90% of our REIT taxable income (determined without regard to the deduction for dividends paid and any net capital gains) and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains). The Operating Partnership funds the payment of distributions. AMH had an NOL for U.S. federal income tax purposes of an estimated $11.8 million as of December 31, 2022 and $25.4 million as of December 31, 2021. We intend to use our NOL (to the extent available) to reduce our REIT taxable income to the extent that REIT taxable income is not reduced by our deduction for dividends paid. No distributions can be paid on our Class A and Class B common shares unless we have first paid all cumulative distributions on our Series G and Series H perpetual preferred shares. The distribution preference of our Series G and Series H perpetual preferred shares could limit our ability to make distributions to the holders of our Class A and Class B common shares. The Company’s board of trustees declared the following distributions during the years ended December 31, 2022, 2021 and 2020. The Operating Partnership funds the payment of distributions, and the board of trustees declared an equivalent amount of distributions on the corresponding OP units. For the Years Ended December 31, 2022 2021 2020 Class A and Class B common shares $ 0.72 $ 0.40 $ 0.20 6.500% Series D perpetual preferred shares (1) — 0.70 1.63 6.350% Series E perpetual preferred shares (2) — 0.79 1.59 5.875% Series F perpetual preferred shares (3) 0.51 1.47 1.47 5.875% Series G perpetual preferred shares 1.47 1.47 1.47 6.250% Series H perpetual preferred shares 1.56 1.56 1.56 (1) The 6.500% Series D perpetual preferred shares were redeemed on June 7, 2021 and the distributions for the year ended December 31, 2021 include the accrued and unpaid dividends paid to shareholders as part of the redemption. (2) The 6.350% Series E perpetual preferred shares were redeemed on June 30, 2021. (3) The 5.875% Series F perpetual preferred shares were redeemed on May 5, 2022 and the distributions for the year ended December 31, 2022 include the accrued and unpaid dividends paid to shareholders as part of the redemption. Noncontrolling Interest Noncontrolling interest as reflected in the Company’s consolidated balance sheets primarily consists of the interests held by former AH LLC members in units in the Operating Partnership. Former AH LLC members owned 50,779,990, or approximately 12.5% and 13.0%, of the total 404,893,881 and 389,374,771 Class A units in the Operating Partnership as of December 31, 2022 and 2021, respectively. Noncontrolling interest also includes interests held by non-affiliates in Class A units in the Operating Partnership. Non-affiliate Class A unitholders owned 596,990, or approximately 0.2% of the total 404,893,881 and 389,374,771 Class A units in the Operating Partnership as of December 31, 2022 and 2021, respectively. The OP units owned by former AH LLC members and non-affiliates are reflected as noncontrolling interest in the Company’s consolidated balance sheets and limited partner capital in the Operating Partnership’s consolidated balance sheets.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation 2021 Equity Incentive Plan During the second quarter of 2021, the Company’s shareholders approved and the Company adopted the 2021 Equity Incentive Plan (the “2021 Plan”). The 2021 Plan replaced the 2012 Equity Incentive Plan (the “2012 Plan”) and provides for the issuance of up to 9,544,095 Class A common shares (including shares that remained available for future awards under the 2012 Plan as of the effective date of the 2021 Plan and shares related to outstanding awards under the 2012 Plan that may become available after expiration, forfeiture or cancellation of such awards). The 2021 Plan provides for the issuance of Class A common shares through the grant of a variety of awards including stock options, stock appreciation rights, RSUs, unrestricted shares, dividend equivalent rights and performance-based awards. The 2021 Plan terminates in May 2031, unless terminated earlier by the Company’s board of trustees. When the Company issues Class A common shares under the 2021 Plan, the Operating Partnership issues an equivalent number of Class A units to AMH. During the years ended December 31, 2022, 2021 and 2020, employees were granted RSUs that vest over a one 10 years from the date of grant. During the years ended December 31, 2022 and 2021, certain senior employees were granted PSUs that cliff vest at the end of a three-year service period. The performance conditions of the PSUs are measured over the three-year performance period January 1, 2022 through December 31, 2024 for PSUs granted during the year ended December 31, 2022 and January 1, 2021 through December 31, 2023 for PSUs granted during the year ended December 31, 2021. A portion of the PSUs are based on (i) the achievement of relative total shareholder return compared to a specified peer group (the “TSR Awards”), and a portion are based on (ii) average annual growth in core funds from operations per share (the “Core FFO Awards”). The number of PSUs that may ultimately vest range from zero to 200% of the number of PSUs granted based on the level of achievement of these performance conditions. For the TSR Awards, grant date fair value was determined using a multifactor Monte Carlo model and the resulting compensation cost is amortized over the service period regardless of whether the performance condition is achieved. For the Core FFO Awards, fair value is based on the market value on the date of grant and compensation cost is recognized based on the probable achievement of the performance condition at each reporting period. The 2012 Plan and 2021 Plan allow for continued release of awards based on the original vesting schedule, rather than forfeiture, of unvested share-based grants upon termination of service for employees who meet certain retirement eligibility criteria, including age and years of service. Retirement eligible employees must also provide a notice of intent to retire at least six months prior to retirement date and the HCC Committee must approve the continued release of awards. The following table summarizes stock option activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2022, 2021 and 2020: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) (amounts in thousands) Options outstanding at December 31, 2019 1,529,800 $ 17.40 5.3 $ 13,479 Granted — — Exercised (426,150) 16.55 4,911 Forfeited (13,350) 21.89 Options outstanding at December 31, 2020 1,090,300 $ 17.68 4.5 $ 13,436 Granted — — Exercised (266,000) 17.01 5,625 Forfeited — — Options outstanding at December 31, 2021 824,300 $ 17.89 3.7 $ 21,200 Granted — — Exercised (93,750) 17.26 1,782 Forfeited — — Options outstanding at December 31, 2022 730,550 $ 17.97 3.0 $ 8,889 Options exercisable at December 31, 2022 725,550 $ 17.96 3.0 $ 8,841 (1) Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the grant price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise. The following table summarizes RSU activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2022, 2021 and 2020: Restricted Share Units Weighted- Average Grant Date Fair Value RSUs outstanding at December 31, 2019 599,109 $ 21.71 Awarded 470,147 27.38 Vested (316,186) 23.61 Forfeited (101,533) 23.93 RSUs outstanding at December 31, 2020 651,537 $ 24.53 Awarded 651,898 32.69 Vested (209,824) 23.15 Forfeited (43,012) 28.41 RSUs outstanding at December 31, 2021 1,050,599 $ 29.71 Awarded 466,802 39.52 Vested (439,643) 29.41 Forfeited (53,036) 35.85 RSUs outstanding at December 31, 2022 1,024,722 $ 33.99 The following table summarizes PSU activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2022 and 2021: Performance-Based Restricted Share Units Weighted-Average Grant Date Fair Value PSUs outstanding at December 31, 2020 — $ — Awarded 92,319 34.83 Vested — — Forfeited — — PSUs outstanding at December 31, 2021 92,319 $ 34.83 Awarded 202,104 43.91 Vested — — Forfeited — — PSUs outstanding at December 31, 2022 294,423 $ 41.07 For the TSR Awards, the following assumptions were used in the calculation of fair value using the Monte Carlo simulation model: 2022 2021 Expected term (years) 3.0 3.0 Dividend yield 1.03% 0.67% Estimated volatility (1) 27.62% 28.48% Risk-free interest rate 1.39% 0.2% (1) Estimated volatility for the performance period is based on 50% historical volatility and 50% implied volatility. 2021 Employee Stock Purchase Plan During the second quarter of 2021, the Company’s shareholders approved and the Company adopted the 2021 Employee Stock Purchase Plan (the “2021 ESPP”), which provides for the issuance of 3,000,000 Class A common shares. The 2021 ESPP terminates in June 2031 or the date on which there are no longer any Class A common shares available for issuance. The 2021 ESPP allows employees to acquire the Company’s Class A common shares through payroll deductions, subject to maximum purchase limitations, during six-month purchase periods. The purchase price for Class A common shares may be set at a maximum discount equal to 85% of the lower of the closing price of the Company’s Class A common shares on the first day or the last day of the applicable purchase period. When the Company issues Class A common shares under the 2021 ESPP, the Operating Partnership issues an equivalent number of Class A units to AMH. Share-Based Compensation Expense The Company’s noncash share-based compensation expense relating to corporate administrative employees is included in general and administrative expense and the noncash share-based compensation expense relating to centralized and field property management employees is included in property management expenses. Noncash share-based compensation expense relating to employees involved in the purchases of single-family properties, including newly constructed properties from third-party builders, the development of single-family properties, or the disposal of certain properties or portfolios of properties is included in acquisition and other transaction costs. The following table summarizes the activity related to the Company’s noncash share-based compensation expense for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands): For the Years Ended December 31, 2022 2021 2020 General and administrative expense $ 15,318 $ 9,361 $ 6,573 Property management expenses 3,861 3,004 1,745 Acquisition and other transaction costs 8,129 5,427 1,516 Total noncash share-based compensation expense $ 27,308 $ 17,792 $ 9,834 As of December 31, 2022, the unrecognized compensation expense for unvested RSUs and PSUs was $14.9 million and $5.0 million, respectively. The unrecognized compensation expense for unvested RSUs and PSUs is expected to be recognized over a weighted-average period of 1.4 years and 1.8 years, respectively.

Earnings per Share _ Unit

Earnings per Share / Unit	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Earnings per Share / Unit	Earnings per Share / Unit American Homes 4 Rent The following table reflects the Company’s computation of net income per common share on a basic and diluted basis for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands, except share and per share data): For the Years Ended December 31, 2022 2021 2020 Numerator: Net income $ 310,025 $ 210,559 $ 154,829 Less: Noncontrolling interest 36,887 21,467 14,455 Dividends on preferred shares 17,081 37,923 55,128 Redemption of perpetual preferred shares 5,276 15,879 — Allocation to participating securities (1) 767 418 217 Numerator for income per common share–basic and diluted $ 250,014 $ 134,872 $ 85,029 Denominator: Weighted-average common shares outstanding–basic 349,290,848 324,245,168 306,613,197 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 496,244 1,273,123 461,550 Weighted-average common shares outstanding–diluted (3) 349,787,092 325,518,291 307,074,747 Net income per common share: Basic $ 0.72 $ 0.42 $ 0.28 Diluted $ 0.71 $ 0.41 $ 0.28 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 9. Shareholders’ Equity / Partners’ Capital). (3) The effect of the potential conversion of OP units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share. American Homes 4 Rent, L.P. The following table reflects the Operating Partnership’s computation of net income per common unit on a basic and diluted basis for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands, except unit and per unit data): For the Years Ended December 31, 2022 2021 2020 Numerator: Net income $ 310,025 $ 210,559 $ 154,829 Less: Preferred distributions 17,081 37,923 55,128 Redemption of perpetual preferred units 5,276 15,879 — Allocation to participating securities (1) 767 418 217 Numerator for income per common unit–basic and diluted $ 286,901 $ 156,339 $ 99,484 Denominator: Weighted-average common units outstanding–basic 400,667,828 375,693,107 358,603,291 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 496,244 1,273,123 461,550 Weighted-average common units outstanding–diluted 401,164,072 376,966,230 359,064,841 Net income per common unit: Basic $ 0.72 $ 0.42 $ 0.28 Diluted $ 0.71 $ 0.41 $ 0.28 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per unit using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 9. Shareholders’ Equity / Partners’ Capital).

Fair Value

Fair Value	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value	Fair Value The carrying amount of rents and other receivables, restricted cash, escrow deposits, prepaid expenses and other assets, and accounts payable and accrued expenses generally approximate fair value because of the short maturity of these amounts. Our notes receivable are financial instruments classified as Level 3 in the fair value hierarchy as their fair values were estimated using unobservable inputs. We estimated the fair values of the notes receivable by modeling the expected contractual cash flows required under the instruments and discounting them back to their present values using estimates of current market rates. As the estimated current market rates were not substantially different from the discount rates originally applied, the carrying amount of notes receivable, net approximates fair value. Our asset-backed securitizations and revolving credit facility are financial instruments classified as Level 3 in the fair value hierarchy as their fair values were estimated using unobservable inputs. We estimated the fair values of the asset-backed securitizations by modeling the contractual cash flows required under the instruments and discounting them back to their present values using estimates of current market rates. As our revolving credit facility bears interest at a floating rate based on an index plus a spread (see Note 7. Debt), management believes that the carrying value (excluding deferred financing costs) of the revolving credit facility reasonably approximates fair value. Our unsecured senior notes are financial instruments classified as Level 2 in the fair value hierarchy as their fair values were estimated using observable inputs based on the market value of the last trade at the end of the period. The following table displays the carrying values and fair values of our debt instruments as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value AMH 2014-SFR2 securitization $ 465,864 $ 469,192 $ 470,039 $ 479,464 AMH 2014-SFR3 securitization 480,467 484,350 485,005 495,659 AMH 2015-SFR1 securitization 505,738 509,714 510,585 521,639 AMH 2015-SFR2 securitization 438,773 442,286 442,717 455,264 Total asset-backed securitizations 1,890,842 1,905,542 1,908,346 1,952,026 2028 unsecured senior notes, net 495,956 463,920 495,166 554,895 2029 unsecured senior notes, net 396,543 377,680 395,990 463,840 2031 unsecured senior notes, net 441,133 347,243 440,095 442,953 2032 unsecured senior notes, net 581,533 504,294 — — 2051 unsecured senior notes, net 291,189 189,750 290,881 304,461 2052 unsecured senior notes, net 288,802 221,922 — — Total unsecured senior notes, net 2,495,156 2,104,809 1,622,132 1,766,149 Revolving credit facility 130,000 130,000 350,000 350,000 Total debt $ 4,515,998 $ 4,140,351 $ 3,880,478 $ 4,068,175 During the first quarter of 2021, in anticipation of a debt issuance and in order to hedge interest rate risk, the Company entered into a treasury lock agreement with a notional amount of $400.0 million based on the 10-year treasury note rate at the time. The treasury lock was designated as a cash flow hedging instrument. The Company settled the treasury lock during the second quarter of 2021 in connection with the pricing of the 2031 Notes (see Note 7. Debt), which resulted in a $4.0 million loss recorded in other comprehensive loss at the time that will be reclassified into earnings as an increase to interest expense over the 10-year term of the 2031 Notes. The treasury lock was the only financial instrument recorded at fair value on a recurring basis in the consolidated financial statements and was classified as Level 2 within the fair value hierarchy as its fair value was estimated using observable inputs based on the 10-year treasury note rate.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2022
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions As of December 31, 2022 and 2021, affiliates owned approximately 12.9% and 13.5%, respectively, of the Company’s outstanding Class A common shares. On a fully-diluted basis, affiliates held (including consideration of 635,075 Class B common shares and 50,622,165 Class A units as of December 31, 2022 and 2021) an approximate 23.9% and 24.8% interest as of December 31, 2022 and 2021, respectively. During the fourth quarter of 2020, we entered into a settlement and release agreement with a former employee, pursuant to which the parties agreed to settle any and all claims arising out of the employee’s relationship with the company. We paid $2.9 million, net of insurance proceeds, related to this matter, which is included in other income and expense, net within the consolidated statements of operations. As of December 31, 2022 and 2021, the Operating Partnership had a receivable from affiliates of $25.7 million related to the asset-backed securitization certificates held by AMH, which is included in amounts due from affiliates on the Operating Partnership’s consolidated balance sheets. See Note 6. Investments in Unconsolidated Joint Ventures for a description of related party transactions between the Company and its unconsolidated joint ventures.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Leases The Company leases office space from third parties for our corporate and property management operations under non-cancelable operating lease agreements. Our operating leases have remaining lease terms of one For the Years Ended December 31, 2022 2021 2020 Lease costs $ 3,897 $ 3,957 $ 3,447 Other information related to our operating lease terms and discount rates were as follows: December 31, 2022 December 31, 2021 Weighted-average remaining lease term 6.6 years 7.9 years Weighted-average discount rate 2.6 % 2.8 % Future lease obligations for our operating leases as of December 31, 2022 were as follows (amounts in thousands): Operating Lease Obligations 2023 $ 3,917 2024 3,889 2025 3,526 2026 2,703 2027 2,276 Thereafter 6,453 Total lease payments 22,764 Less: imputed interest (2,009) Operating lease liabilities $ 20,755 Other Commitments As of December 31, 2022, the Company had commitments to acquire 52 single-family properties for an aggregate purchase price of $12.3 million, as well as $228.9 million in purchase commitments for land relating to our AMH Development Program, which includes certain land deals expected to close beyond twelve months when development is ready to commence. Purchase commitments exclude option contracts where we have acquired the right to purchase land for our AMH Development Program or single-family properties because the contracts do not contain provisions requiring our specific performance. As of December 31, 2022, the Company had sales in escrow for approximately 237 of our single-family properties and 50 of our land lots for an aggregate selling price of $73.8 million. As of December 31, 2022, the Company, as a condition for entering into some of its development contracts, had outstanding surety bonds of approximately $185.3 million. 401(k) Retirement Savings Plan We have a retirement savings plan pursuant to Section 401(k) of the Code whereby our employees may contribute a portion of their compensation to their respective retirement accounts in an amount not to exceed the maximum allowed under the Code. In addition to employee contributions, we have elected to provide company contributions (subject to statutory limitations), which amounted to approximately $3.1 million, $2.5 million and $2.0 million for the years ended December 31, 2022, 2021 and 2020, respectively. Captive Insurance Company During the first quarter of 2021, the Company formed a wholly owned captive insurance company, American Dream Insurance, LLC, which provides general liability insurance coverage for losses below the deductible under the Company’s third-party liability insurance policy. The Company created American Dream Insurance, LLC as part of its overall risk management program and to stabilize its insurance costs, manage exposure and recoup expenses through the functions of the captive program. The captive insurance company’s impact on the Company’s consolidated financial statements is immaterial. Legal Matters During the third quarter of 2020, we received a notice from the Georgia Attorney General’s Office (the “Georgia AG”) seeking certain information relevant to an investigation they are conducting about our customary landlord-tenant matters. We have been cooperating with the Georgia AG and have been discussing a possible negotiated resolution with the Georgia AG. We are involved in various other legal and administrative proceedings that are incidental to our business. We believe these matters will not have a materially adverse effect on our financial position or results of operations upon resolution.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent Acquisitions From January 1, 2023 through February 17, 2023, the Company added 127 properties to its portfolio for a total cost of approximately $42.6 million, which included 123 newly constructed properties delivered through our AMH Development Program and four newly constructed homes acquired from third-party developers through our National Builder Program. Subsequent Dispositions From January 1, 2023 through February 17, 2023, the Company disposed of 319 properties for aggregate net proceeds of approximately $87.4 million. Revolving Credit Facility From January 1, 2023 through February 17, 2023, the Company paid down $130.0 million under its revolving credit facility, resulting in zero outstanding borrowings under its revolving credit facility as of February 17, 2023. Distributions On February 10, 2023, the Company’s board of trustees approved an increase in quarterly dividends to $0.22 per Class A and Class B common share for the first quarter of 2023. The quarterly dividends are payable on March 31, 2023 to shareholders of record on March 15, 2023. 2022 Forward Sale Agreements Settlement In January 2023, the Company issued and physically settled the remaining 8,000,000 Class A common shares under the January 2022 Forward Sale Agreements, receiving net proceeds of $298.4 million. See Note 9. Shareholders’ Equity / Partners’ Capital.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2022
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2022 (Amounts in thousands, except number of single-family homes) Initial Cost to Company Cost Capitalized Subsequent to Acquisition Total Cost as of December 31, 2022 (1) Market Number of Single-Family Homes Gross Book Value of Encumbered Assets Land Buildings and Improvements Land Buildings and Improvements Land Buildings and Improvements Total Accumulated Depreciation Net Cost Basis Date of Acquisition Single-family properties in operation Albuquerque, NM 271 $ — $ 9,987 $ 39,974 $ — $ 6,122 $ 9,987 $ 46,096 $ 56,083 $ (10,334) $ 45,749 2013-2022 Atlanta, GA 5,805 204,285 209,358 869,248 — 177,486 209,358 1,046,734 1,256,092 (213,205) 1,042,887 2012-2022 Austin, TX 772 36,223 29,383 112,485 — 18,446 29,383 130,931 160,314 (33,120) 127,194 2012-2022 Boise, ID 806 8,013 34,217 155,630 — 31,339 34,217 186,969 221,186 (21,929) 199,257 2013-2022 Charleston, SC 1,524 84,115 67,492 237,371 — 40,793 67,492 278,164 345,656 (53,403) 292,253 2012-2022 Charlotte, NC 3,962 316,302 153,613 586,546 — 97,054 153,613 683,600 837,213 (162,498) 674,715 2012-2022 Cincinnati, OH 2,131 240,076 70,684 284,433 — 59,015 70,684 343,448 414,132 (99,134) 314,998 2012-2022 Colorado Springs, CO 106 — 7,895 33,259 — 3,807 7,895 37,066 44,961 (2,208) 42,753 2013-2022 Columbus, OH 2,110 145,698 65,116 272,162 — 60,014 65,116 332,176 397,292 (88,075) 309,217 2012-2022 Dallas-Fort Worth, TX 4,224 287,739 111,823 511,853 — 111,999 111,823 623,852 735,675 (190,222) 545,453 2012-2022 Denver, CO 842 — 47,993 187,797 — 26,766 47,993 214,563 262,556 (56,756) 205,800 2012-2022 Greater Chicago area, IL and IN 1,611 167,260 50,926 199,847 — 53,479 50,926 253,326 304,252 (89,845) 214,407 2012-2015 Greensboro, NC 731 54,095 22,075 99,702 — 15,854 22,075 115,556 137,631 (31,789) 105,842 2013-2022 Greenville, SC 774 74,461 22,371 115,222 — 18,782 22,371 134,004 156,375 (32,982) 123,393 2013-2022 Houston, TX 2,642 151,691 58,566 336,662 — 69,825 58,566 406,487 465,053 (119,288) 345,765 2012-2022 Indianapolis, IN 2,910 303,038 83,631 334,909 — 80,853 83,631 415,762 499,393 (127,579) 371,814 2012-2022 Inland Empire, CA 44 — 4,938 5,719 — 1,096 4,938 6,815 11,753 (1,914) 9,839 2014-2016 Jacksonville, FL 2,891 62,509 99,360 421,766 — 81,727 99,360 503,493 602,853 (103,991) 498,862 2012-2022 Knoxville, TN 449 17,855 16,286 81,245 — 10,323 16,286 91,568 107,854 (21,506) 86,348 2013-2022 Las Vegas, NV 1,854 22,437 95,701 317,284 — 80,210 95,701 397,494 493,195 (62,376) 430,819 2011-2022 Memphis, TN 688 17,374 24,166 89,211 — 17,767 24,166 106,978 131,144 (27,110) 104,034 2013-2022 Miami, FL 179 3,485 2,129 20,817 — 5,303 2,129 26,120 28,249 (9,168) 19,081 2013-2015 Milwaukee, WI 94 — 5,776 16,604 — 2,342 5,776 18,946 24,722 (6,673) 18,049 2013 Nashville, TN 3,238 235,777 140,135 542,035 — 93,629 140,135 635,664 775,799 (142,443) 633,356 2012-2022 Orlando, FL 1,867 47,245 70,966 255,720 — 52,376 70,966 308,096 379,062 (74,936) 304,126 2011-2022 Phoenix, AZ 3,405 57,352 160,653 469,853 — 81,428 160,653 551,281 711,934 (123,539) 588,395 2011-2022 Portland, OR 184 24,227 13,285 23,880 — 3,434 13,285 27,314 40,599 (7,281) 33,318 2013-2022 Raleigh, NC 2,177 227,066 78,226 304,670 — 46,270 78,226 350,940 429,166 (94,873) 334,293 2012-2022 Salt Lake City, UT 1,908 162,302 120,585 379,814 — 75,505 120,585 455,319 575,904 (86,876) 489,028 2012-2022 San Antonio, TX 1,325 61,205 40,081 178,430 — 39,546 40,081 217,976 258,057 (46,527) 211,530 2012-2022 Savannah/Hilton Head, SC 1,042 42,614 38,603 155,239 — 22,718 38,603 177,957 216,560 (35,227) 181,333 2013-2022 Seattle, WA 1,141 28,558 91,501 251,741 — 26,701 91,501 278,442 369,943 (44,313) 325,630 2012-2022 Tampa, FL 2,729 46,790 108,203 422,563 — 71,887 108,203 494,450 602,653 (112,530) 490,123 2012-2022 Tucson, AZ 598 12,408 20,207 91,191 — 17,560 20,207 108,751 128,958 (20,340) 108,618 2011-2022 Winston Salem, NC 844 44,262 21,302 104,549 — 17,004 21,302 121,553 142,855 (32,462) 110,393 2013-2022 Total Single-family properties in operation 57,878 3,186,462 2,197,233 8,509,431 — 1,618,460 2,197,233 10,127,891 12,325,124 (2,386,452) 9,938,672 2011-2022 Properties under development & development land — — 541,031 — 538,901 107,289 1,079,932 107,289 1,187,221 — 1,187,221 Total Single-family properties held for sale 1,115 — 51,402 148,681 3,168 38,156 54,570 186,837 241,407 (42,691) 198,716 2011-2021 Total real estate assets 58,993 $ 3,186,462 $ 2,789,666 $ 8,658,112 $ 542,069 $ 1,763,905 $ 3,331,735 $ 10,422,017 $ 13,753,752 $ (2,429,143) $ 11,324,609 2011-2022 (1) The unaudited aggregate cost of consolidated real estate in the table above for federal income tax purposes was $13.9 billion as of December 31, 2022. American Homes 4 Rent American Homes 4 Rent, L.P. Schedule III—Real Estate and Accumulated Depreciation as of December 31, 2022 (continued) Change in Total Real Estate Assets for Single-Family Properties in Operation For the Years Ended December 31, (Amounts in thousands) 2022 2021 2020 Balance, beginning of period $ 11,320,426 $ 9,999,821 $ 9,448,381 Acquisitions and building improvements 1,325,231 1,426,921 689,566 Dispositions (186,498) (95,997) (208,540) Write-offs (36,614) (23,916) (20,843) Impairment (2,499) (131) (1,957) Reclassifications to single-family properties held for sale, net of dispositions (94,922) 13,728 93,214 Balance, end of period $ 12,325,124 $ 11,320,426 $ 9,999,821 Change in Accumulated Depreciation for Single-Family Properties in Operation For the Years Ended December 31, (Amounts in thousands) 2022 2021 2020 Balance, beginning of period $ (2,072,933) $ (1,754,433) $ (1,462,105) Depreciation (1) (410,413) (357,797) (330,192) Dispositions 37,453 14,990 29,433 Write-offs 36,614 23,916 20,843 Reclassifications to single-family properties held for sale, net of dispositions 22,827 391 (12,412) Balance, end of period $ (2,386,452) $ (2,072,933) $ (1,754,433) (1) Depreciation of buildings and improvements is computed on a straight-line basis over estimated useful lives ranging from three

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and in conjunction with the rules and regulations of the Securities and Exchange Commission (“SEC”). Any references in this report to the number of properties is outside the scope of our independent registered public accounting firm’s audit of our financial statements, in accordance with the standards of the Public Company Accounting Oversight Board. In the opinion of management, all adjustments of a normal and recurring nature necessary for a fair presentation of the consolidated financial statements have been made.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements present the accounts of both (i) the Company, which include AMH, the Operating Partnership and their consolidated subsidiaries, and (ii) the Operating Partnership, which include the Operating Partnership and its consolidated subsidiaries. Intercompany accounts and transactions have been eliminated. The Company consolidates real estate partnerships and other entities that are not variable interest entities (“VIEs”) in accordance with Accounting Standards Codification (“ASC”) 810, Consolidation (“ASC 810”), when it owns, directly or indirectly, a majority interest in the entity or is otherwise able to control the entity. Entities that are not VIEs and for which the Company owns an interest but does not consolidate are accounted for under the equity method of accounting as an investment in an unconsolidated entity and are included in investments in unconsolidated joint ventures within the consolidated balance sheets. See Investments in Unconsolidated Joint Ventures below for a further discussion of the investments in unconsolidated joint ventures. The Company consolidates VIEs in accordance with ASC 810 if it is the primary beneficiary of the VIE as determined by its power to direct the VIE’s activities and the obligation to absorb its losses or the right to receive its benefits, which are potentially significant to the VIE. The Company holds investments in venture capital funds and deposits with land banking entities, which were determined to be VIEs. As the Company does not control the activities that most significantly impact the economic performance of these entities, the Company was deemed not to be the primary beneficiary and therefore did not consolidate the entities. The investments in the unconsolidated venture capital funds are accounted for under the equity method of accounting and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. As of December 31, 2022, the carrying value of the investments in these venture capital funds was $12.0 million and the Company’s maximum exposure to loss was $16.1 million, which includes all future capital funding requirements. See Land Option Contracts below for a further discussion of the deposits with land banking entities.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Income Taxes	Income Taxes AMH has elected to be taxed as a REIT for U.S. federal income tax purposes under Sections 856 to 860 of the Internal Revenue Code of 1986, as amended (the “Code”), commencing with our taxable year ended December 31, 2012. We believe that we have operated, and continue to operate, in such a manner as to satisfy the requirements for qualification as a REIT. Provided that we qualify as a REIT and our distributions to our shareholders equal or exceed our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains), we generally will not be subject to U.S. federal income tax. Qualification and taxation as a REIT depend upon our ability to meet the various qualification tests imposed under the Code, including tests related to the percentage of income that we earn from specified sources and the percentage of our earnings that we distribute to our shareholders. Accordingly, no assurance can be given that we will continue to be organized or be able to operate in a manner so as to remain qualified as a REIT. If we fail to qualify as a REIT in any taxable year and do not qualify for certain statutory relief provisions, we would be subject to U.S. federal income tax and state income tax on our taxable income at regular corporate tax rates, and we would likely be precluded from qualifying for treatment as a REIT until the fifth calendar year following the year in which we fail to qualify. Even if we qualify as a REIT, we may be subject to certain state or local income and capital taxes and U.S. federal income and excise taxes on our undistributed REIT taxable income, if any. Certain of our subsidiaries are subject to taxation by U.S. federal, state and local authorities for the periods presented. We made joint elections to treat certain subsidiaries as taxable REIT subsidiaries which are subject to U.S. federal, state and local taxes on their income at regular corporate rates. The tax years from 2017 to present generally remain open to examination by the taxing jurisdictions to which the Company is subject. We believe that our Operating Partnership is properly treated as a partnership for U.S. federal income tax purposes. As a partnership, the Operating Partnership is not subject to U.S. federal income tax on our income. Instead, each of the Operating Partnership’s partners, including AMH, is allocated, and may be required to pay tax with respect to, its share of the Operating Partnership’s income. As such, no provision for U.S. federal income taxes has been included for the Operating Partnership. ASC 740-10, Income Taxes, requires recognition of deferred tax assets for the expected future tax consequences of events that have been included in the financial statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We recognize tax benefits of uncertain tax positions only if it is more likely than not that the tax position will be sustained, based solely on its technical merits, with the taxing authority having full knowledge of all relevant information. The measurement of a tax benefit for an uncertain tax position that meets the more likely than not threshold is based on a cumulative probability model under which the largest amount of tax benefit recognized is the amount with a greater than 50% likelihood of being realized upon ultimate settlement with the taxing authority having full knowledge of all the relevant information. As of December 31, 2022, there were no deferred tax assets and liabilities or unrecognized tax benefits recorded by the Company. We do not anticipate a significant change in unrecognized tax benefits within the next 12 months. As a REIT, we generally are required to distribute annually to our shareholders at least 90% of our REIT taxable income (determined without regard to the deduction for dividends paid and any net capital gains) and to pay tax at regular corporate rates to the extent that we annually distribute less than 100% of our REIT taxable income (determined without regard to the deduction for dividends paid and including any net capital gains). The Operating Partnership funds the payment of distributions. AMH had a net operating loss (“NOL”) for U.S. federal income tax purposes of an estimated $11.8 million as of December 31, 2022 and $25.4 million as of December 31, 2021. We intend to use our NOL (to the extent available) to reduce our REIT taxable income to the extent that REIT taxable income is not reduced by our deduction for dividends paid.
Investments in Real Estate	Investments in Real Estate Purchases of single-family properties are treated as asset acquisitions and, as such, are recorded at their purchase price, including acquisition costs, which is allocated to land and building based upon their relative fair values at the date of acquisition. Fair value is determined in accordance with ASC 820, Fair Value Measurements and Disclosures , and is primarily based on unobservable data inputs. In making estimates of fair values for purposes of allocating the purchase price of individually acquired properties subject to an existing lease, the Company utilizes its own market knowledge obtained from historical transactions, its internal construction program (the “AMH Development Program”) and published market data. In this regard, the Company also utilizes information obtained from county tax assessment records to assist in the determination of the fair value of the land and building. Typically, we allocate between 10% to 30% of the purchase price of properties to land. For the year ended December 31, 2022, the Company purchased 1,605 single-family properties treated as asset acquisitions for accounting purposes for a total purchase price of $571.8 million, net of holding costs, which was included in cash paid for single-family properties within the consolidated statement of cash flows. The nature of our business requires that in certain circumstances we acquire single-family properties subject to existing liens. Liens that we expect to be extinguished in cash are estimated and accrued for on the date of acquisition and recorded as a cost of the property.
Single Family Properties Under Development and Development Land	Single-Family Properties Under Development and Development Land Land and construction in progress for our AMH Development Program are presented separately in single-family properties under development and development land within the consolidated balance sheets. Our capitalization policy on development properties follows the guidance in ASC 835-20, Capitalization of Interest , and ASC 970, Real Estate-General . Costs directly related to the development of properties are capitalized and the costs of land and buildings under development include specifically identifiable costs. We also capitalize interest, real estate taxes, insurance, utilities, and payroll costs for land and construction in progress under active development once the applicable GAAP criteria have been met.
Single-family Properties Held for Sale and Discontinued Operations	Single-family Properties Held for Sale and Discontinued Operations Single-family properties and land lots are classified as held for sale when they meet the applicable GAAP criteria in accordance with ASC 360-10, Property, Plant, and Equipment—Overall , including, but not limited to, the availability of the home for immediate sale in its present condition, the existence of an active program to locate a buyer and the probable sale of the home within one year. Single-family properties and land lots are classified as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell, and are presented separately in single-family properties held for sale, net within the consolidated balance sheets. As of December 31, 2022 and 2021, the Company had 1,115 and 659 single-family properties, respectively, classified as held for sale, and recorded $2.5 million, $0.2 million and $2.0 million of impairment on single-family properties held for sale for the years ended December 31, 2022, 2021 and 2020, respectively, which is included in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations. The results of operations of properties that have either been sold or classified as held for sale, if due to a strategic shift that has (or will have) a major effect on our operations or financial results, are reported in the consolidated statements of operations as discontinued operations for both current and prior periods presented through the date of the applicable disposition in accordance with ASC 205-20, Presentation of Financial Statements—Discontinued Operations
Impairment of Long-lived Assets	Impairment of Long-lived AssetsWe evaluate our long-lived assets for impairment periodically or whenever events or circumstances indicate that their carrying amount may not be recoverable. Significant indicators of impairment may include, but are not limited to, declines in home values, rental rates and occupancy percentages, as well as significant changes in the economy. If an impairment indicator exists, we compare the expected future undiscounted cash flows against the net carrying amount. If the sum of the estimated undiscounted cash flows is less than the net carrying amount, we record an impairment loss for the difference between the estimated fair value of the individual property and the carrying amount of the property at that date.
Land Option Contracts	Land Option Contracts We enter into land option contracts to acquire the right to purchase land for our AMH Development Program. Under these contracts, we typically make a specified option payment or deposit in consideration for the right to purchase land in the future, usually at a predetermined price. We analyze these land option contracts under the variable interest model to determine whether the land seller is a VIE and, if so, whether we are the primary beneficiary. Although the Company does not have legal title to the underlying land, we may be required to consolidate the related VIE if we are deemed to be the primary beneficiary. Deposits with land banking entities determined to be VIEs but not consolidated because we are not the primary beneficiary are at held at cost and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. As of December 31, 2022 and 2021, the carrying value of these deposits and the Company’s maximum exposure to loss was $14.5 million and zero, respectively. We also consider whether the land option contracts should be accounted for as financing arrangements when the land banking entity is not consolidated under the variable interest model, as may be required if the land banking entity or other third-party acquires specific land parcels directly from us, on our behalf or at our direction or where we make improvements to the underlying land during the option period. During the year ended December 31, 2022, the Company entered into land option agreements whereby it sold land to a third party with an option to repurchase finished lots on a predetermined schedule. Because of our options to repurchase the finished lots, in accordance with ASC 606-10-55-70, we accounted for these transactions as financing arrangements rather than a sale. Consolidated land not owned is included in escrow deposits, prepaid expenses and other assets and the liability for consolidated land not owned, which represents proceeds received from the third party net of our deposits on the optioned land, is included in accounts payable and accrued expenses in the consolidated balance sheets (see Note 5. Escrow Deposits, Prepaid Expenses and Other Assets and Note 8. Accounts Payable and Accrued Expenses).
Commercial Office Leases	Commercial Office Leases We lease commercial office space from third parties for use in our corporate and property management operations. Commercial office leases are accounted for as operating leases in accordance with ASC 842, Leases , which requires us to recognize right-of-use assets and lease liabilities within the consolidated balance sheets for the rights and obligations created from these leases. Operating lease right-of-use assets and lease liabilities are recognized based on the present value of future minimum lease payments over the expected lease term at commencement date. As the implicit rate is generally not determinable, the right-of-use assets and lease liabilities are measured using our incremental borrowing rate based on the estimated rate of interest for collateralized borrowing over a similar term of the lease payments at commencement date. The expected lease terms include options to extend or terminate the lease when it is reasonably certain that we will exercise such options. Lease expense for operating leases is recognized on a straight-line basis over the expected lease term in general and administrative expense within the consolidated statements of operations. We elected the short-term lease measurement and recognition exemption and do not establish right-of-use assets or lease liabilities for operating leases with terms of twelve months or less. We also elected the practical expedient allowing us to avoid separating non-lease components from the associated lease component for our commercial office leases. The right-of-use assets and lease liabilities are
Depreciation and Amortization	Depreciation and Amortization Depreciation is computed on a straight-line basis over the estimated useful lives of buildings, improvements and other assets. Buildings are depreciated over 30 years and improvements and other assets are depreciated over their estimated economic useful lives, generally three
Intangible Assets	Intangible AssetsFinite-lived intangible assets are amortized on a straight-line basis over their estimated economic lives. The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the sum of the estimated future cash flows expected to result from the use and eventual disposition of an asset is less than its net book value, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of an asset.
Goodwill	Goodwill Goodwill represents the fair value in excess of the tangible and separately identifiable intangible assets that were acquired in connection with the internalization of the Company’s management function in June 2013, including all administrative, financial, property management, marketing and leasing personnel, including executive management. Goodwill has an indefinite life and is therefore not amortized. The Company analyzes goodwill for impairment on an annual basis pursuant to ASC 350, Intangibles—Goodwill and Other
Deferred Financing Costs	Deferred Financing Costs Financing costs related to the origination of the Company’s debt instruments are deferred and amortized as interest expense under the effective interest method over the contractual term of the applicable financing. Financing costs related to the origination of the Company’s revolving credit facility are presented net of accumulated amortization and included in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Financing costs related to the origination of the Company’s unsecured senior notes and asset-backed securitizations are presented net of accumulated amortization and are netted against the related debt instrument under liabilities within the consolidated balance sheets.
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash We consider all demand deposits, cashier’s checks, money market accounts and certificates of deposit with a maturity of three months or less to be cash equivalents. We maintain our cash and cash equivalents and escrow deposits at financial institutions. The combined account balances typically exceed the Federal Deposit Insurance Corporation insurance coverage, and, as a result, there is a concentration of credit risk related to amounts on deposit. We believe that the risk is not significant. Restricted cash primarily consists of funds held related to resident security deposits, cash reserves in accordance with certain loan agreements and funds held in the custody of our transfer agent for the payment of distributions. Funds held related to resident security
Escrow Deposits	Escrow Deposits Escrow deposits include refundable and non-refundable cash earnest money deposits for the purchase of properties and deposits related to land option contracts (see Land Option Contracts above). In addition, escrow deposits include amounts paid for single-family properties in certain states which require a judicial order when the risks and rewards of ownership of the property are transferred and the purchase is finalized.
Investments in Unconsolidated Joint Ventures	Investments in Unconsolidated Joint Ventures Investments in unconsolidated joint ventures are recorded initially at cost, and subsequently adjusted for equity in earnings and cash contributions and distributions. Under the equity method of accounting, our net equity investment is included in investments in unconsolidated joint ventures within the consolidated balance sheets, and our share of net income or loss from the joint ventures is included within other income and expense, net in the consolidated statements of operations. Our recognition of joint venture income or loss is generally based on ownership percentages, which may change upon the achievement of certain investment return thresholds. The ultimate realization of the investment in unconsolidated joint ventures is dependent on a number of factors, including the performance of each investment and market conditions. We classify distributions received from our unconsolidated joint ventures using the “cumulative earnings” approach, under which distributions up to the amount of cumulative equity in earnings recognized will be classified as cash inflows from operating activities, and those in excess of that amount will be classified as cash inflows from investing activities in our consolidated statements of cash flows.
Notes Receivable, Net	Notes Receivable, Net The Company obtained promissory notes in connection with two bulk dispositions of our single-family properties. The promissory note obtained during the second quarter of 2019 was paid in full during the year ended December 31, 2022 and the promissory note obtained during the first quarter of 2017 matured in the first quarter of 2022 and is still being actively collected. The promissory notes are secured by first priority mortgages on the disposed homes, contain certain covenants and require monthly or quarterly interest payments with the full principal due at maturity. Notes receivable are presented net of discounts in escrow deposits, prepaid expenses and other assets within the consolidated balance sheets. Interest income from the notes, including amortization of discounts, is presented in other income and expense, net within the consolidated statements of operations. Upon adoption of Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , on January 1, 2020, we are required to estimate and recognize lifetime expected losses, rather than incurred losses, on these notes receivable, which results in the earlier recognition of credit losses even if the expected risk of credit loss is remote. Notes receivable are also presented net of the allowance for expected
Leases, Revenue and Expense Recognition	Revenue and Expense Recognition We lease single-family properties that we own directly to tenants who occupy the properties under operating leases, generally, with a term of one year. In accordance with ASC 842, Leases , the Company classifies our single-family property leases as operating leases and elects to not separate the lease component, comprised of rents from single-family properties, from the associated non-lease component, comprised of fees from single-family properties and tenant charge-backs. The combined component is accounted for under ASC 842, while certain tenant charge-backs are accounted for as variable payments under ASC 606, Revenue from Contracts with Customers . Rental revenue, net of any concessions, is recognized on a straight-line basis over the term of the lease, which is not materially different than if it were recorded when due from tenants and recognized monthly as it is earned. Tenant charge-backs, which are primarily related to cost recoveries on utilities, are recognized as revenue on a gross basis in the period during which the expenses are incurred. We accrue for property taxes and homeowners’ association (“HOA”) assessments based on amounts billed, and, in some circumstances, estimates and historical trends when bills or assessments are not available. The actual assessment may differ from the estimates, resulting in a change in estimate in a subsequent period. Gains or losses on sales of properties and upon contributions to our unconsolidated joint ventures are recognized pursuant to the provisions included in ASC 610-20, Other Income . Under ASC 610-20, we must first determine whether the transaction is a sale to a customer or non-customer. We typically sell properties on a selective basis and not within the ordinary course of our operating business and therefore expect that our sale transactions will not be contracts with customers. We next determine whether we have a controlling financial interest in the property after the sale, consistent with the consolidation model in ASC 810, Consolidation . If we determine that we do not have a controlling financial interest in the real estate, we evaluate whether a contract exists under ASC 606 and whether the buyer has obtained control of the asset that was sold. We recognize a full gain or loss on sale, which is presented in gain on sale and impairment of single-family properties and other, net within the consolidated statements of operations, when the derecognition criteria under ASC 610-20 have been met. Leasing Costs Our leasing costs are accounted for under the provisions of ASC 842, Leases. Direct costs incurred due to the execution of a lease are initially capitalized and then amortized over the term of the lease, which is generally one year.
Accounts Payable and Accrued Expenses	Accounts Payable and Accrued Expenses Accounts payable and accrued expenses consists primarily of trade payables, accrued interest, distribution payables, resident security deposits, prepaid rent, construction and maintenance liabilities, HOA fees, operating lease liabilities and property tax accruals as of the end of the respective period presented. It also consists of liabilities for consolidated land not owned (see Land Option Contracts above) and contingent loss accruals, if any, when such losses are both probable and estimable. When it is reasonably possible that a significant contingent loss has occurred, we disclose the nature of the potential loss and, if estimable, a range of exposure.
Share-Based Compensation	Share-Based Compensation Our 2012 Equity Incentive Plan and 2021 Equity Incentive Plan (collectively, the “Plans”) are accounted for under the provisions of ASC 718, Compensation—Stock Compensation . Noncash share-based compensation costs related to options to purchase our Class A common shares, restricted share units (“RSUs”) and performance-based restricted share units (“PSUs”) issued to members of the Company’s board of trustees and employees is based on the fair value of the options, RSUs and PSUs on the grant date and generally amortized over the service period. At the time of grant, the Company takes into consideration the timing of the equity award and evaluates for conditions that could result in the award to be considered spring-loaded, in which case the fair value would be adjusted. During the years ended December 31, 2022, 2021 and 2020, the Company did not grant equity awards that would be considered spring-loaded. Forfeitures are recognized as they occur. The Plans allow for continued release of awards based on the original vesting schedule, rather than forfeiture, of unvested share-based grants upon termination of service for employees who meet certain retirement eligibility criteria, including age and years of service. Retirement eligible employees must also provide a notice of intent to retire at least six months prior to retirement date and the Human Capital and Compensation Committee (“HCC Committee”) must approve the continued release of awards. As a result of the six month notice requirement, compensation cost is recognized over six months from the grant date to the extent an employee is retirement eligible on the grant date and compensation cost is accelerated to the extent that an employee will become retirement eligible before six months prior to the end of the contractual life of their share-based grants.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The fair value of a financial instrument is the amount at which the instrument could be exchanged in an orderly transaction between two willing parties. Fair value is a market-based measurement, and should be determined based on the assumptions that market participants would use in pricing an asset or liability. The GAAP valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 —Inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets; • Level 2 —Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument; and • Level 3 —Inputs to the valuation methodology are unobservable and significant to the fair value measurement.
Derivatives	Derivatives From time to time, we may use interest rate cap agreements or other derivative instruments for interest rate risk management purposes. We assess these derivatives at inception and on an ongoing basis for the effectiveness of qualifying cash flow hedges. For derivative instruments that are designated and qualify as a cash flow hedge, the gain or loss on the derivative instrument is reported as a component of other comprehensive income and reclassified into earnings as interest expense during the period in which the hedged transaction affects earnings.
Segment Reporting	Segment Reporting During the year ended December 31, 2022, the Company reassessed its operating segments as a result of changes in information presented to its chief operating decision maker (“CODM”). We operate in one operating segment with activities related to acquiring, renovating, developing, leasing and managing single-family homes as rental properties. ASC 280, Segment Reporting , requires the use of the “management approach” to align segment reporting with our internal reporting, and our CODM regularly reviews core funds from operations at the total portfolio level as the primary measure for assessing the Company’s performance and allocating resources. Property acquisition and disposition decisions are made at the individual property level and development decisions are made at the community level across a geographically diversified portfolio based on criteria consistent with our objective of generating attractive risk-adjusted returns for our shareholders.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2022
Accounting Policies [Abstract]
Schedule of Restricted Cash and Cash Equivalents	The following table provides a reconciliation of cash, cash equivalents and restricted cash per the Company’s and the Operating Partnership’s consolidated statements of cash flows to the corresponding financial statement line items in the consolidated balance sheets (amounts in thousands): December 31, 2022 2021 2020 Cash and cash equivalents $ 69,155 $ 48,198 $ 137,060 Restricted cash 148,805 143,569 128,017 Total cash, cash equivalents and restricted cash $ 217,960 $ 191,767 $ 265,077

Real Estate Assets, Net (Tables

Real Estate Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2022
Real Estate [Abstract]
Schedule of Single-Family Properties	The net book values of real estate assets consisted of the following as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Occupied single-family properties $ 9,419,098 $ 8,522,080 Single-family properties leased, not yet occupied 52,325 77,221 Single-family properties in turnover process 281,356 184,170 Single-family properties recently renovated or developed 182,336 126,379 Single-family properties newly acquired and under renovation 3,557 337,643 Single-family properties in operation, net 9,938,672 9,247,493 Development land 631,539 549,653 Single-family properties under development 555,682 332,506 Single-family properties held for sale, net 198,716 114,907 Total real estate assets, net $ 11,324,609 $ 10,244,559 The following table summarizes the Company’s dispositions of single-family properties and land for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands, except property data): For the Years Ended December 31, 2022 2021 2020 Single-family properties: Properties sold 987 481 1,047 Net proceeds (1) $ 288,030 $ 130,825 $ 228,495 Net gain on sale $ 140,537 $ 50,543 $ 47,187 Land: Net proceeds $ 4,479 $ 1,247 $ 71 Net gain on sale $ 777 $ 136 $ 7 (1) Net proceeds are net of deductions for working capital prorations.

Rent and Other Receivables (Tab

Rent and Other Receivables (Tables)	12 Months Ended
	Dec. 31, 2022
Receivables [Abstract]
Summary of Future Minimum Rental Revenues	The Company generally rents its single-family properties under non-cancelable lease agreements with a term of one year. The following table summarizes future minimum rental revenues under existing leases on our properties as of December 31, 2022 (amounts in thousands): December 31, 2022 2023 $ 693,989 2024 37,521 2025 32 Total $ 731,542

Escrow Deposits, Prepaid Expe_2

Escrow Deposits, Prepaid Expenses and Other Assets (Tables)	12 Months Ended
	Dec. 31, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of escrow deposits, prepaid expenses and other assets	The following table summarizes the components of escrow deposits, prepaid expenses and other assets as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Consolidated land not owned (see Note 2) $ 108,114 $ — Escrow deposits, prepaid expenses and other 105,811 88,414 Commercial real estate, software, vehicles and FF&E, net 85,772 62,462 Operating lease right-of-use assets 19,129 17,269 Deferred costs and other intangibles, net 10,237 13,134 Notes receivable, net 2,383 35,346 Total $ 331,446 $ 216,625
Deferred Costs and Other Intangibles, Net	Deferred costs and other intangibles, net, consisted of the following as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Deferred leasing costs $ 2,375 $ 3,090 Deferred financing costs 22,491 22,491 24,866 25,581 Less: accumulated amortization (14,629) (12,447) Total $ 10,237 $ 13,134
Amortization Expense Related to Deferred Costs and Other Intangibles	The following table sets forth the estimated annual amortization expense related to deferred costs and other intangibles, net as of December 31, 2022 for future periods (amounts in thousands): Deferred Leasing Costs Deferred Financing Costs Total 2023 $ 1,279 $ 2,722 $ 4,001 2024 — 2,730 2,730 2025 — 2,722 2,722 2026 — 784 784 Total $ 1,279 $ 8,958 $ 10,237

Investments in Unconsolidated_2

Investments in Unconsolidated Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2022
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Joint Ventures	The following table summarizes our investments in unconsolidated joint ventures (amounts in thousands, except percentages and property data): Joint Venture Description % Ownership at December 31, 2022 Completed Homes at Balances at Balances at Alaska JV 20 % 259 $ 18,890 $ 22,658 Institutional Investor JV 20 % 967 16,567 28,695 J.P. Morgan JV 20 % 1,314 71,890 70,597 2,540 $ 107,347 $ 121,950

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt	The following table presents the Company’s debt as of December 31, 2022 and 2021 (amounts in thousands): Outstanding Principal Balance Interest Rate (1) Maturity Date December 31, 2022 December 31, 2021 AMH 2014-SFR2 securitization 4.42 % October 9, 2024 $ 468,138 $ 473,594 AMH 2014-SFR3 securitization 4.40 % December 9, 2024 482,964 488,790 AMH 2015-SFR1 securitization (2) 4.14 % April 9, 2045 508,672 514,868 AMH 2015-SFR2 securitization (3) 4.36 % October 9, 2045 441,854 446,929 Total asset-backed securitizations 1,901,628 1,924,181 2028 unsecured senior notes (4) 4.08 % February 15, 2028 500,000 500,000 2029 unsecured senior notes 4.90 % February 15, 2029 400,000 400,000 2031 unsecured senior notes (5) 2.46 % July 15, 2031 450,000 450,000 2032 unsecured senior notes 3.63 % April 15, 2032 600,000 — 2051 unsecured senior notes 3.38 % July 15, 2051 300,000 300,000 2052 unsecured senior notes 4.30 % April 15, 2052 300,000 — Revolving credit facility (6) 5.29 % April 15, 2026 130,000 350,000 Total debt 4,581,628 3,924,181 Unamortized discounts on unsecured senior notes (36,099) (15,561) Deferred financing costs, net (7) (29,531) (28,142) Total debt per balance sheet $ 4,515,998 $ 3,880,478 (1) Interest rates are rounded and as of December 31, 2022. Unless otherwise stated, interest rates are fixed percentages. (2) The AMH 2015-SFR1 securitization has an anticipated repayment date of April 9, 2025. (3) The AMH 2015-SFR2 securitization has an anticipated repayment date of October 9, 2025. (4) The stated interest rate on the 2028 unsecured senior notes is 4.25%, which was hedged to yield an interest rate of 4.08%. (5) The stated interest rate on the 2031 unsecured senior notes is 2.38%, which was hedged to yield an interest rate of 2.46%. (6) The revolving credit facility provides for a borrowing capacity of up to $1.25 billion, and the Company had approximately $4.0 million and $1.6 million committed to outstanding letters of credit that reduced our borrowing capacity as of December 31, 2022 and 2021, respectively. The revolving credit facility bears interest at LIBOR plus 0.90% as of December 31, 2022. (7) Deferred financing costs relate to our asset-backed securitizations and unsecured senior notes. Amortization of deferred financing costs related to our asset-backed securitizations and unsecured senior notes was $6.8 million, $6.1 million and $5.9 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in gross interest, prior to interest capitalization.
Schedule of Debt Maturities	The following table summarizes the contractual maturities of the Company’s principal debt balances on a fully extended basis as of December 31, 2022 (amounts in thousands): Debt Maturities 2023 $ 20,714 2024 950,992 2025 10,302 2026 140,302 2027 10,302 Thereafter 3,449,016 Total debt $ 4,581,628
Schedule of Encumbered Properties	The following table displays the number of properties pledged as collateral for the Company’s asset-backed securitization loans and the aggregate net book values as of December 31, 2022 and 2021 (amounts in thousands, except property data): December 31, 2022 December 31, 2021 Number of Properties Net Book Value Number of Properties Net Book Value AMH 2014-SFR2 securitization 4,530 $ 550,581 4,526 $ 559,257 AMH 2014-SFR3 securitization 4,563 598,189 4,570 605,420 AMH 2015-SFR1 securitization 4,691 596,236 4,690 606,385 AMH 2015-SFR2 securitization 4,168 554,608 4,168 562,443 Total encumbered properties 17,952 $ 2,299,614 17,954 $ 2,333,505
Summary of Activity that Relates to Capitalized Interest	The following table summarizes our (i) gross interest cost, which includes fees on our credit facilities and amortization of deferred financing costs and the discounts on unsecured senior notes and (ii) capitalized interest for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands): For the Years Ended December 31, 2022 2021 2020 Gross interest cost $ 186,956 $ 148,689 $ 137,034 Capitalized interest (52,085) (33,796) (19,996) Interest expense $ 134,871 $ 114,893 $ 117,038

Accounts Payable and Accrued _2

Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2022
Payables and Accruals [Abstract]
Schedule of Accounts Payable and Accrued Expenses	The following table summarizes accounts payable and accrued expenses as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Resident security deposits $ 119,386 $ 105,809 Accrued construction and maintenance liabilities 86,775 50,655 Liability for consolidated land not owned (see Note 2) 69,434 — Accrued property taxes 51,586 52,545 Accrued interest 40,126 33,332 Prepaid rent 26,922 31,190 Operating lease liabilities 20,755 18,723 Accounts payable 5,719 1,113 Other accrued liabilities 63,700 50,159 Total $ 484,403 $ 343,526

Shareholders' Equity _ Partne_2

Shareholders' Equity / Partners' Capital (Tables)	12 Months Ended
	Dec. 31, 2022
Equity [Abstract]
Schedule of Preferred Shares	As of December 31, 2022 and 2021, the Company had the following series of perpetual preferred shares outstanding (amounts in thousands, except share data): December 31, 2022 December 31, 2021 Series Issuance Date Earliest Redemption Date Dividend Rate Outstanding Shares Current Liquidation Value Outstanding Shares Current Liquidation Value Series F perpetual preferred shares April 24, 2017 April 24, 2022 5.875 % — $ — 6,200,000 $ 155,000 Series G perpetual preferred shares July 17, 2017 July 17, 2022 5.875 % 4,600,000 115,000 4,600,000 115,000 Series H perpetual preferred shares September 19, 2018 September 19, 2023 6.250 % 4,600,000 115,000 4,600,000 115,000 Total preferred shares 9,200,000 $ 230,000 15,400,000 $ 385,000
Schedule Of Distributions Made During Period	The Operating Partnership funds the payment of distributions, and the board of trustees declared an equivalent amount of distributions on the corresponding OP units. For the Years Ended December 31, 2022 2021 2020 Class A and Class B common shares $ 0.72 $ 0.40 $ 0.20 6.500% Series D perpetual preferred shares (1) — 0.70 1.63 6.350% Series E perpetual preferred shares (2) — 0.79 1.59 5.875% Series F perpetual preferred shares (3) 0.51 1.47 1.47 5.875% Series G perpetual preferred shares 1.47 1.47 1.47 6.250% Series H perpetual preferred shares 1.56 1.56 1.56 (1) The 6.500% Series D perpetual preferred shares were redeemed on June 7, 2021 and the distributions for the year ended December 31, 2021 include the accrued and unpaid dividends paid to shareholders as part of the redemption. (2) The 6.350% Series E perpetual preferred shares were redeemed on June 30, 2021. (3) The 5.875% Series F perpetual preferred shares were redeemed on May 5, 2022 and the distributions for the year ended December 31, 2022 include the accrued and unpaid dividends paid to shareholders as part of the redemption.

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2022
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity Under Plan	The following table summarizes stock option activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2022, 2021 and 2020: Shares Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) (amounts in thousands) Options outstanding at December 31, 2019 1,529,800 $ 17.40 5.3 $ 13,479 Granted — — Exercised (426,150) 16.55 4,911 Forfeited (13,350) 21.89 Options outstanding at December 31, 2020 1,090,300 $ 17.68 4.5 $ 13,436 Granted — — Exercised (266,000) 17.01 5,625 Forfeited — — Options outstanding at December 31, 2021 824,300 $ 17.89 3.7 $ 21,200 Granted — — Exercised (93,750) 17.26 1,782 Forfeited — — Options outstanding at December 31, 2022 730,550 $ 17.97 3.0 $ 8,889 Options exercisable at December 31, 2022 725,550 $ 17.96 3.0 $ 8,841 (1) Intrinsic value for activities other than exercises is defined as the difference between the grant price and the market value on the last trading day of the period for those stock options where the market value is greater than the grant price. For exercises, intrinsic value is defined as the difference between the grant price and the market value on the date of exercise.
Summary of Restricted Stock Unit and Performance Share Unit Activity	The following table summarizes RSU activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2022, 2021 and 2020: Restricted Share Units Weighted- Average Grant Date Fair Value RSUs outstanding at December 31, 2019 599,109 $ 21.71 Awarded 470,147 27.38 Vested (316,186) 23.61 Forfeited (101,533) 23.93 RSUs outstanding at December 31, 2020 651,537 $ 24.53 Awarded 651,898 32.69 Vested (209,824) 23.15 Forfeited (43,012) 28.41 RSUs outstanding at December 31, 2021 1,050,599 $ 29.71 Awarded 466,802 39.52 Vested (439,643) 29.41 Forfeited (53,036) 35.85 RSUs outstanding at December 31, 2022 1,024,722 $ 33.99 The following table summarizes PSU activity under the 2012 Plan and 2021 Plan for the years ended December 31, 2022 and 2021: Performance-Based Restricted Share Units Weighted-Average Grant Date Fair Value PSUs outstanding at December 31, 2020 — $ — Awarded 92,319 34.83 Vested — — Forfeited — — PSUs outstanding at December 31, 2021 92,319 $ 34.83 Awarded 202,104 43.91 Vested — — Forfeited — — PSUs outstanding at December 31, 2022 294,423 $ 41.07
Schedule of PSU TSR Valuation Assumptions	For the TSR Awards, the following assumptions were used in the calculation of fair value using the Monte Carlo simulation model: 2022 2021 Expected term (years) 3.0 3.0 Dividend yield 1.03% 0.67% Estimated volatility (1) 27.62% 28.48% Risk-free interest rate 1.39% 0.2% (1) Estimated volatility for the performance period is based on 50% historical volatility and 50% implied volatility.
Summary of Noncash Share-Based Compensation Expense	The following table summarizes the activity related to the Company’s noncash share-based compensation expense for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands): For the Years Ended December 31, 2022 2021 2020 General and administrative expense $ 15,318 $ 9,361 $ 6,573 Property management expenses 3,861 3,004 1,745 Acquisition and other transaction costs 8,129 5,427 1,516 Total noncash share-based compensation expense $ 27,308 $ 17,792 $ 9,834

Earnings per Share _ Unit (Tabl

Earnings per Share / Unit (Tables)	12 Months Ended
	Dec. 31, 2022
Earnings Per Share [Abstract]
Computation of Net Loss per Share on Basic and Diluted Basis	American Homes 4 Rent The following table reflects the Company’s computation of net income per common share on a basic and diluted basis for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands, except share and per share data): For the Years Ended December 31, 2022 2021 2020 Numerator: Net income $ 310,025 $ 210,559 $ 154,829 Less: Noncontrolling interest 36,887 21,467 14,455 Dividends on preferred shares 17,081 37,923 55,128 Redemption of perpetual preferred shares 5,276 15,879 — Allocation to participating securities (1) 767 418 217 Numerator for income per common share–basic and diluted $ 250,014 $ 134,872 $ 85,029 Denominator: Weighted-average common shares outstanding–basic 349,290,848 324,245,168 306,613,197 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 496,244 1,273,123 461,550 Weighted-average common shares outstanding–diluted (3) 349,787,092 325,518,291 307,074,747 Net income per common share: Basic $ 0.72 $ 0.42 $ 0.28 Diluted $ 0.71 $ 0.41 $ 0.28 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per share using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 9. Shareholders’ Equity / Partners’ Capital). (3) The effect of the potential conversion of OP units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A common shares on a one-for-one basis. The income allocable to the OP units is allocated on this same basis and reflected as noncontrolling interest in the accompanying consolidated financial statements. As such, the assumed conversion of the OP units would have no net impact on the determination of diluted earnings per share. American Homes 4 Rent, L.P. The following table reflects the Operating Partnership’s computation of net income per common unit on a basic and diluted basis for the years ended December 31, 2022, 2021 and 2020 (amounts in thousands, except unit and per unit data): For the Years Ended December 31, 2022 2021 2020 Numerator: Net income $ 310,025 $ 210,559 $ 154,829 Less: Preferred distributions 17,081 37,923 55,128 Redemption of perpetual preferred units 5,276 15,879 — Allocation to participating securities (1) 767 418 217 Numerator for income per common unit–basic and diluted $ 286,901 $ 156,339 $ 99,484 Denominator: Weighted-average common units outstanding–basic 400,667,828 375,693,107 358,603,291 Effect of dilutive securities: Share-based compensation plan and forward sale equity contracts (2) 496,244 1,273,123 461,550 Weighted-average common units outstanding–diluted 401,164,072 376,966,230 359,064,841 Net income per common unit: Basic $ 0.72 $ 0.42 $ 0.28 Diluted $ 0.71 $ 0.41 $ 0.28 (1) Unvested RSUs that have nonforfeitable rights to participate in dividends declared on common stock are accounted for as participating securities and reflected in the calculation of basic and diluted earnings per unit using the two-class method. (2) Reflects the effect of potentially dilutive securities issuable upon the assumed exercise of stock options and the dilutive effect of forward sale equity contracts under the treasury stock method (see Note 9. Shareholders’ Equity / Partners’ Capital).

Fair Value (Tables)

Fair Value (Tables)	12 Months Ended
	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table displays the carrying values and fair values of our debt instruments as of December 31, 2022 and 2021 (amounts in thousands): December 31, 2022 December 31, 2021 Carrying Value Fair Value Carrying Value Fair Value AMH 2014-SFR2 securitization $ 465,864 $ 469,192 $ 470,039 $ 479,464 AMH 2014-SFR3 securitization 480,467 484,350 485,005 495,659 AMH 2015-SFR1 securitization 505,738 509,714 510,585 521,639 AMH 2015-SFR2 securitization 438,773 442,286 442,717 455,264 Total asset-backed securitizations 1,890,842 1,905,542 1,908,346 1,952,026 2028 unsecured senior notes, net 495,956 463,920 495,166 554,895 2029 unsecured senior notes, net 396,543 377,680 395,990 463,840 2031 unsecured senior notes, net 441,133 347,243 440,095 442,953 2032 unsecured senior notes, net 581,533 504,294 — — 2051 unsecured senior notes, net 291,189 189,750 290,881 304,461 2052 unsecured senior notes, net 288,802 221,922 — — Total unsecured senior notes, net 2,495,156 2,104,809 1,622,132 1,766,149 Revolving credit facility 130,000 130,000 350,000 350,000 Total debt $ 4,515,998 $ 4,140,351 $ 3,880,478 $ 4,068,175

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Schedule of Lease Cost	For the years ended December 31, 2022, 2021 and 2020, operating lease costs were as follows (amounts in thousands): For the Years Ended December 31, 2022 2021 2020 Lease costs $ 3,897 $ 3,957 $ 3,447 Other information related to our operating lease terms and discount rates were as follows: December 31, 2022 December 31, 2021 Weighted-average remaining lease term 6.6 years 7.9 years Weighted-average discount rate 2.6 % 2.8 %
Schedule of Future Lease Obligations	Future lease obligations for our operating leases as of December 31, 2022 were as follows (amounts in thousands): Operating Lease Obligations 2023 $ 3,917 2024 3,889 2025 3,526 2026 2,703 2027 2,276 Thereafter 6,453 Total lease payments 22,764 Less: imputed interest (2,009) Operating lease liabilities $ 20,755

Organization and Operations (De

Organization and Operations (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($) singleFamilyProperty	Dec. 31, 2022 singleFamilyProperty	Dec. 31, 2022 state	Dec. 31, 2022 property
Organization and operations
Number of states | state				21
Asset-backed securitization certificates | $	$ 25,666	$ 25,666
American Homes 4 Rent
Organization and operations
General partner ownership interest	87.30%	86.80%
Limited Partners
Organization and operations
Limited partnership interest	12.70%
Single Family Homes
Organization and operations
Number of properties | singleFamilyProperty			58,993
Single Family Homes | Single-family Properties Identified for Future Sale
Organization and operations
Number of properties		659	1,115		1,115

Significant Accounting Polici_4

Significant Accounting Policies - Narrative (Details)	3 Months Ended	12 Months Ended
	Jun. 30, 2019 bulk_disposition	Dec. 31, 2022 USD ($) property segment	Dec. 31, 2021 USD ($) singleFamilyProperty	Dec. 31, 2020 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 singleFamilyProperty	Dec. 31, 2022 property	Dec. 31, 2022
Property Subject to or Available for Operating Lease
Carrying value of investments in limited partnerships			$ 121,950,000		$ 107,347,000
Deferred tax asset and liability, net					0
Net operating loss carryforward			25,400,000		11,800,000
Purchase price		$ 595,171,000	850,071,000	$ 269,273,000
Impairment of long-lived assets held-for-use		0	0	0
Impairment of intangible assets		0	0	0
Goodwill			120,279,000		120,279,000
Goodwill impairments		$ 0	0	0
Impairment charge on joint ventures				4,900,000
Number of bulk disposals | bulk_disposition	2
Revenue recognition period of operating lease		1 year
Lease amortization period		1 year
Required retirement notice period		6 months
Weighted-average period of unvested cost		6 months
Number of operating segments | segment		1
Variable Interest Entity, Not Primary Beneficiary | Venture Capital Funds
Property Subject to or Available for Operating Lease
Carrying value of investments in limited partnerships					12,000,000
Maximum exposure to loss					16,100,000
Variable Interest Entity, Not Primary Beneficiary | Deposits
Property Subject to or Available for Operating Lease
Carrying value of investments in limited partnerships			0		14,500,000
Maximum exposure to loss			$ 0		$ 14,500,000
Gain (Loss) on Investments
Property Subject to or Available for Operating Lease
Impairment charge on joint ventures				3,500,000
Other Operating Income (Expense)
Property Subject to or Available for Operating Lease
Impairment charge on joint ventures				1,400,000
Minimum
Property Subject to or Available for Operating Lease
REIT taxable income allocation, percentage								90%
Maximum
Property Subject to or Available for Operating Lease
REIT taxable income allocation, percentage								100%
Building and Building Improvements
Property Subject to or Available for Operating Lease
Estimated useful life of asset		30 years
Building and Building Improvements | Minimum
Property Subject to or Available for Operating Lease
Estimated useful life of asset		3 years
Building and Building Improvements | Maximum
Property Subject to or Available for Operating Lease
Estimated useful life of asset		30 years
Single Family Homes
Property Subject to or Available for Operating Lease
Number of properties acquired | property		1,605
Purchase price		$ 571,800,000
Number of properties | singleFamilyProperty						58,993
Single Family Homes | Single-family Properties Identified for Future Sale
Property Subject to or Available for Operating Lease
Number of properties			659			1,115	1,115
Impairment of real estate		$ 2,500,000	$ 200,000	$ 2,000,000
Single Family Homes | Minimum
Property Subject to or Available for Operating Lease
Purchase price of properties allocated to land, percent		10%
Single Family Homes | Maximum
Property Subject to or Available for Operating Lease
Purchase price of properties allocated to land, percent		30%

Significant Accounting Polici_5

Significant Accounting Policies - Cash, Cash Equivalent, and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Cash and cash equivalents	$ 69,155	$ 48,198	$ 137,060
Restricted cash	148,805	143,569	128,017
Total cash, cash equivalents and restricted cash	$ 217,960	$ 191,767	$ 265,077	$ 164,119

Real Estate Assets, Net - Sched

Real Estate Assets, Net - Schedule of Real Estate Properties (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Property Subject to or Available for Operating Lease
Single-family properties in operation, net	$ 9,938,672	$ 9,247,493
Development land	631,539	549,653
Single-family properties under development	555,682	332,506
Single-family properties held for sale, net	198,716	114,907
Total real estate assets, net	11,324,609	10,244,559
Occupied single-family properties
Property Subject to or Available for Operating Lease
Single-family properties in operation, net	9,419,098	8,522,080
Single-family properties leased, not yet occupied
Property Subject to or Available for Operating Lease
Single-family properties in operation, net	52,325	77,221
Single-family properties in turnover process
Property Subject to or Available for Operating Lease
Single-family properties in operation, net	281,356	184,170
Single-family properties recently renovated or developed
Property Subject to or Available for Operating Lease
Single-family properties in operation, net	182,336	126,379
Single-family properties newly acquired and under renovation
Property Subject to or Available for Operating Lease
Single-family properties in operation, net	3,557	337,643
Single Family Homes
Property Subject to or Available for Operating Lease
Total real estate assets, net	$ 11,324,609	$ 10,244,559

Real Estate Assets, Net - Narra

Real Estate Assets, Net - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property Subject to or Available for Operating Lease
Accrual for minor repair and remediation costs, gross charges	$ 8,900
Probable insurance claim recoveries	2,800
Hurricane-related charges, net	6,133	$ 0	$ 0
Single Family Homes
Property Subject to or Available for Operating Lease
Depreciation	$ 410,400	$ 357,800	$ 330,200

Real Estate Assets, Net - Singl

Real Estate Assets, Net - Single-Family Properties and Land (Details) - Single Family Homes $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property	Dec. 31, 2020 USD ($) property
Single-family properties:
Properties sold | property	987	481	1,047
Net proceeds	$ 288,030	$ 130,825	$ 228,495
Net gain on sale	140,537	50,543	47,187
Land:
Net proceeds	4,479	1,247	71
Net gain on sale	$ 777	$ 136	$ 7

Rent and Other Receivables - Na

Rent and Other Receivables - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenue recognition period of operating lease	1 year
Insurance settlements receivable	$ 5,000	$ 1,900
Proceeds received from storm-related insurance claims	1,981	4,842	$ 3,705
Single Family Homes
Accounts, Notes, Loans and Financing Receivable [Line Items]
Tenant chargebacks	202,600	178,300	160,800
Variable lease payments	27,000	22,600	16,400
Legal Recoveries
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds collected from legal recovery insurance claims			4,000
Hurricane Related Insurance Claims
Accounts, Notes, Loans and Financing Receivable [Line Items]
Proceeds received from storm-related insurance claims	$ 2,000	$ 4,800	$ 3,700

Rent and Other Receivables - Re

Rent and Other Receivables - Rent (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Future minimum rental revenues
2023	$ 693,989
2024	37,521
2025	32
Total	$ 731,542

Escrow Deposits, Prepaid Expe_3

Escrow Deposits, Prepaid Expenses and Other Assets - Schedule of Expenses and Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Consolidated land not owned (see Note 2)	$ 108,114	$ 0
Escrow deposits, prepaid expenses and other	105,811	88,414
Commercial real estate, software, vehicles and FF&E, net	$ 85,772	$ 62,462
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total	Total
Operating lease right-of-use assets	$ 19,129	$ 17,269
Deferred costs and other intangibles, net	10,237	13,134
Notes receivable, net	2,383	35,346
Total	$ 331,446	$ 216,625

Escrow Deposits, Prepaid Expe_4

Escrow Deposits, Prepaid Expenses and Other Assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Amortization expense of deferred leasing costs and database intangibles	$ 2.7	$ 3.9	$ 4.1
Amortization of deferred financing costs	2.7	2.5	2
Commercial Real Estate, Software, Vehicles and Furniture, Fixtures and Equipment
Property, Plant and Equipment [Line Items]
Depreciation	$ 13.4	$ 11.2	$ 8.9

Escrow Deposits, Prepaid Expe_5

Escrow Deposits, Prepaid Expenses and Other Assets - Components (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Deferred leasing costs	$ 2,375	$ 3,090
Deferred financing costs	22,491	22,491
Deferred costs and intangible assets	24,866	25,581
Less: accumulated amortization	(14,629)	(12,447)
Total	$ 10,237	$ 13,134

Escrow Deposits, Prepaid Expe_6

Escrow Deposits, Prepaid Expenses and Other Assets - Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Total
2023	$ 4,001
2024	2,730
2025	2,722
2026	784
Total	10,237	$ 13,134
Deferred Leasing Costs
Deferred Leasing Costs
2023	1,279
2024	0
2025	0
2026	0
Total	1,279
Deferred Financing Costs
Deferred Financing Costs
2023	2,722
2024	2,730
2025	2,722
2026	784
Total	$ 8,958

Investments in Unconsolidated_3

Investments in Unconsolidated Joint Ventures - Narrative (Details) $ in Millions	3 Months Ended						12 Months Ended
	Sep. 30, 2022 USD ($) extension	Mar. 31, 2022 USD ($) extension property	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Sep. 30, 2019 USD ($)	Dec. 31, 2022 USD ($) joint_venture	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Institutional Investor JV Property Acquisition
Schedule of Equity Method Investments [Line Items]
Number of properties acquired | property		200
Total consideration		$ 74.6
Cash payments		66.2
Noncash distribution		8.4
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Size of partnership						$ 312.5
Joint venture, initial term						5 years
Property management expenses | Joint Venture
Schedule of Equity Method Investments [Line Items]
Management fee income							$ 13.9	$ 10.3	$ 5.8
Three Unconsolidated Joint Ventures
Schedule of Equity Method Investments [Line Items]
Ownership percentage							20%
Number of joint ventures | joint_venture							3
J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage							20%
Size of partnership		900		$ 625	$ 253.1
J.P. Morgan JV | Joint Venture
Schedule of Equity Method Investments [Line Items]
Maximum borrowing limit		$ 375
Non-recourse guarantee, term		three-year
Number of debt instrument extension options | extension		1
Line of credit extension period		1 year
Maximum exposure							$ 260.3
J.P. Morgan JV | Joint Venture | SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate		1.50%
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
Ownership percentage							20%
Institutional Investor JV | Joint Venture
Schedule of Equity Method Investments [Line Items]
Maximum borrowing limit	$ 250		$ 201
Non-recourse guarantee, term	two-year
Number of debt instrument extension options | extension	2
Line of credit extension period	1 year
Maximum exposure							$ 232.7
Institutional Investor JV | Joint Venture | LIBOR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate			3.50%
Institutional Investor JV | Joint Venture | SOFR
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	2.40%

Investments in Unconsolidated_4

Investments in Unconsolidated Joint Ventures - JV Investments (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Mar. 31, 2022	Dec. 31, 2022 USD ($) bulk_disposition	Dec. 31, 2021 USD ($)
Schedule of Equity Method Investments [Line Items]
Completed Homes at December 31, 2022 | bulk_disposition			2,540
Balances | $			$ 107,347	$ 121,950
Alaska JV
Schedule of Equity Method Investments [Line Items]
% Ownership at December 31, 2022			20%
Completed Homes at December 31, 2022 | bulk_disposition			259
Balances | $			$ 18,890	22,658
Institutional Investor JV
Schedule of Equity Method Investments [Line Items]
% Ownership at December 31, 2022			20%
Completed Homes at December 31, 2022 | bulk_disposition			967
Balances | $			$ 16,567	28,695
Institutional Investor JV | Joint Venture
Schedule of Equity Method Investments [Line Items]
Line of credit extension period	1 year
J.P. Morgan JV
Schedule of Equity Method Investments [Line Items]
% Ownership at December 31, 2022			20%
Completed Homes at December 31, 2022 | bulk_disposition			1,314
Balances | $			$ 71,890	$ 70,597
J.P. Morgan JV | Joint Venture
Schedule of Equity Method Investments [Line Items]
Line of credit extension period		1 year

Debt - Long-term Debt (Details)

Debt - Long-term Debt (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2019	Mar. 31, 2018
Debt Instrument [Line Items]
Total debt	$ 4,581,628,000	$ 3,924,181,000
Unamortized discounts on unsecured senior notes	(36,099,000)	(15,561,000)
Deferred financing costs, net	(29,531,000)	(28,142,000)
Total debt per balance sheet	4,515,998,000	3,880,478,000
Amortization of debt issuance costs	11,673,000	8,790,000	$ 7,431,000
Asset-Backed Securitizations, Unsecured Senior Notes and Term Loan Facility
Debt Instrument [Line Items]
Amortization of debt issuance costs	6,800,000	6,100,000	$ 5,900,000
Secured Debt
Debt Instrument [Line Items]
Total debt	$ 1,901,628,000	1,924,181,000
Secured Debt | AMH 2014-SFR2 securitization
Debt Instrument [Line Items]
Interest rate	4.42%
Total debt	$ 468,138,000	473,594,000
Secured Debt | AMH 2014-SFR3 securitization
Debt Instrument [Line Items]
Interest rate	4.40%
Total debt	$ 482,964,000	488,790,000
Secured Debt | AH4R 2015-SFR1 securitization
Debt Instrument [Line Items]
Interest rate	4.14%
Total debt	$ 508,672,000	514,868,000
Secured Debt | AMH 2015-SFR2 securitization
Debt Instrument [Line Items]
Interest rate	4.36%
Total debt	$ 441,854,000	446,929,000
Exchangeable Senior Notes | 2028 unsecured senior notes
Debt Instrument [Line Items]
Interest rate	4.25%								4.25%
Effective interest rate	4.08%								4.08%
Total debt	$ 500,000,000	500,000,000
Deferred financing costs, net									$ (1,900,000)
Exchangeable Senior Notes | 2029 unsecured senior notes
Debt Instrument [Line Items]
Interest rate	4.90%							4.90%
Total debt	$ 400,000,000	400,000,000
Deferred financing costs, net								$ (1,000,000)
Exchangeable Senior Notes | 2031 unsecured senior notes
Debt Instrument [Line Items]
Interest rate	2.38%				2.375%
Effective interest rate	2.46%				2.46%
Total debt	$ 450,000,000	450,000,000
Exchangeable Senior Notes | 2032 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	3.63%			3.625%
Total debt	$ 600,000,000	0
Exchangeable Senior Notes | 2051 unsecured senior notes
Debt Instrument [Line Items]
Interest rate	3.38%				3.375%
Total debt	$ 300,000,000	300,000,000
Exchangeable Senior Notes | 2052 unsecured senior notes, net
Debt Instrument [Line Items]
Interest rate	4.30%			4.30%
Total debt	$ 300,000,000	0
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Interest rate	5.29%
Total debt	$ 130,000,000	350,000,000
Credit facility maximum borrowing capacity	1,250,000,000					$ 1,250,000,000	$ 800,000,000
Letters of credit outstanding	$ 4,000,000	$ 1,600,000
Line of Credit | Revolving Credit Facility | LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	0.90%

Debt - Narrative (Details)

Debt - Narrative (Details)

3 Months Ended

12 Months Ended

Jun. 30, 2022 USD ($)

Sep. 30, 2021 USD ($)

Jun. 30, 2021 USD ($) debtInstrumentExtensionOption

Mar. 31, 2019 USD ($)

Mar. 31, 2018 USD ($)

Sep. 30, 2015 USD ($) singleFamilyProperty

Mar. 31, 2015 USD ($) property

Dec. 31, 2014 USD ($) property

Sep. 30, 2014 USD ($) property

Dec. 31, 2022 USD ($) singleFamilyProperty

Dec. 31, 2021 USD ($)

Dec. 31, 2020 USD ($)

Mar. 31, 2021 USD ($)

Debt Instrument [Line Items]

Loan payoff amount

$ 22,583,000

$ 24,311,000

$ 22,501,000

Proceeds from unsecured senior notes, net of discount

876,813,000

737,195,000

$ 0

Deferred financing costs, net

$ 29,531,000

$ 28,142,000

Single Family Homes

Debt Instrument [Line Items]

Number of properties | singleFamilyProperty

58,993

2032 unsecured senior notes, net

Debt Instrument [Line Items]

Redeemable percentage of debt

100%

2052 unsecured senior notes, net

Debt Instrument [Line Items]

Redeemable percentage of debt

100%

Secured Debt

Debt Instrument [Line Items]

Minimum coverage ratio

1.20

Secured Debt | Asset Backed Securitizations September 2014 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 513,300,000

Debt instrument term

10 years

Weighted-average interest rate

4.42%

Number of properties | property

4,487

Loan payoff amount

$ 25,700,000

Proceeds from asset-backed securitizations

487,700,000

Debt issuance cost

$ 12,900,000

Secured Debt | Asset Backed Securitizations November 2014 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 528,400,000

Debt instrument term

10 years

Weighted-average interest rate

4.40%

Number of properties | property

4,503

Proceeds from asset-backed securitizations

$ 528,400,000

Debt issuance cost

$ 12,900,000

Secured Debt | Asset Backed Securitizations March 2015 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 552,800,000

Debt instrument term

30 years

Weighted-average interest rate

4.14%

Number of properties | property

4,661

Proceeds from asset-backed securitizations

$ 552,800,000

Debt issuance cost

$ 13,300,000

Secured Debt | Asset Backed Securitizations September 2015 Securitization | Single Family Homes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 477,700,000

Debt instrument term

30 years

Weighted-average interest rate

4.36%

Number of properties | singleFamilyProperty

4,125

Proceeds from asset-backed securitizations

$ 477,700,000

Debt issuance cost

$ 11,300,000

Senior notes | 2031 unsecured senior notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 450,000,000

Interest rate

2.375%

2.38%

Redeemable percentage of debt

100%

Effective interest rate

2.46%

2.46%

Senior notes | 2051 unsecured senior notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 300,000,000

Interest rate

3.375%

3.38%

Redeemable percentage of debt

100%

Senior notes | Senior Unsecured Notes

Debt Instrument [Line Items]

Proceeds from unsecured senior notes, net of discount

$ 870,300,000

$ 731,600,000

Underwriting fees

6,500,000

5,600,000

Unamortized discount on debt

23,200,000

12,800,000

Deferred financing costs, net

1,700,000

$ 1,400,000

Senior notes | 2029 unsecured senior notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 400,000,000

Interest rate

4.90%

4.90%

Proceeds from unsecured senior notes, net of discount

$ 395,300,000

Underwriting fees

2,600,000

Unamortized discount on debt

2,100,000

Deferred financing costs, net

$ 1,000,000

Redeemable percentage of debt

100%

Senior notes | 2028 unsecured senior notes

Debt Instrument [Line Items]

Debt instrument, face amount

$ 500,000,000

Interest rate

4.25%

4.25%

Proceeds from unsecured senior notes, net of discount

$ 494,000,000

Underwriting fees

3,200,000

Unamortized discount on debt

2,800,000

Deferred financing costs, net

$ 1,900,000

Redeemable percentage of debt

100%

Effective interest rate

4.08%

4.08%

Senior notes | 2032 unsecured senior notes, net

Debt Instrument [Line Items]

Debt instrument, face amount

$ 600,000,000

Interest rate

3.625%

3.63%

Senior notes | 2052 unsecured senior notes, net

Debt Instrument [Line Items]

Debt instrument, face amount

$ 300,000,000

Interest rate

4.30%

4.30%

Line of Credit | Revolving Credit Facility

Debt Instrument [Line Items]

Interest rate

5.29%

Credit facility maximum borrowing capacity

$ 1,250,000,000

$ 1,250,000,000

$ 800,000,000

Number of debt instrument extension options | debtInstrumentExtensionOption

2

Line of credit extension period

6 months

Line of Credit | Revolving Credit Facility | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

0.90%

Debt instrument, basis spread on base rate

1%

Line of Credit | Revolving Credit Facility | Fed Funds Effective Rate Overnight Index Swap Rate

Debt Instrument [Line Items]

Debt instrument, basis spread on base rate

0.50%

Line of Credit | Revolving Credit Facility | Minimum

Debt Instrument [Line Items]

Commitment fee

0.125%

Line of Credit | Revolving Credit Facility | Minimum | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

0.725%

Line of Credit | Revolving Credit Facility | Minimum | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0%

Line of Credit | Revolving Credit Facility | Maximum

Debt Instrument [Line Items]

Commitment fee

0.30%

Line of Credit | Revolving Credit Facility | Maximum | LIBOR

Debt Instrument [Line Items]

Basis spread on variable rate

1.45%

Line of Credit | Revolving Credit Facility | Maximum | Base Rate

Debt Instrument [Line Items]

Basis spread on variable rate

0.45%

Debt Debt - Maturities (Details

Debt Debt - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 20,714
2024	950,992
2025	10,302
2026	140,302
2027	10,302
Thereafter	3,449,016
Total debt	$ 4,581,628	$ 3,924,181

Debt Debt - Encumbered Properti

Debt Debt - Encumbered Properties (Details) $ in Thousands	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property
Debt Instrument [Line Items]
Net Book Value	$ 9,938,672	$ 9,247,493
Encumbered Properties
Debt Instrument [Line Items]
Number of Properties | property	17,952	17,954
Net Book Value	$ 2,299,614	$ 2,333,505
Encumbered Properties | AMH 2014-SFR2 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,530	4,526
Net Book Value	$ 550,581	$ 559,257
Encumbered Properties | AMH 2014-SFR3 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,563	4,570
Net Book Value	$ 598,189	$ 605,420
Encumbered Properties | AMH 2015-SFR1 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,691	4,690
Net Book Value	$ 596,236	$ 606,385
Encumbered Properties | AMH 2015-SFR2 securitization
Debt Instrument [Line Items]
Number of Properties | property	4,168	4,168
Net Book Value	$ 554,608	$ 562,443

Debt - Interest Expense (Detail

Debt - Interest Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
Gross interest cost	$ 186,956	$ 148,689	$ 137,034
Capitalized interest	(52,085)	(33,796)	(19,996)
Interest expense	$ 134,871	$ 114,893	$ 117,038

Accounts Payable and Accrued _3

Accounts Payable and Accrued Expenses - Summary (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Resident security deposits	$ 119,386	$ 105,809
Accrued construction and maintenance liabilities	86,775	50,655
Liability for consolidated land not owned (see Note 2)	69,434	0
Accrued property taxes	51,586	52,545
Accrued interest	40,126	33,332
Prepaid rent	$ 26,922	$ 31,190
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Total	Total
Operating lease liabilities	$ 20,755	$ 18,723
Accounts payable	5,719	1,113
Other accrued liabilities	63,700	50,159
Total	$ 484,403	$ 343,526

Shareholders' Equity _ Partne_3

Shareholders' Equity / Partners' Capital - Class A Common Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended				6 Months Ended	12 Months Ended
	Jan. 31, 2023	Sep. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Sep. 30, 2020	Dec. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Stock exchange ratio							1
Class A Common Shares
Class of Stock [Line Items]
Stated value per share (in dollars per share)						$ 0.01	$ 0.01	$ 0.01
Offering costs							$ 200	$ 200	$ 600
Proceeds from issuance of Class A common shares							$ 561,472	$ 728,810	$ 414,100
Class A Common Shares | Public Stock Offering
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			23,000,000	18,745,000
Stated value per share (in dollars per share)			$ 0.01	$ 0.01	$ 0.01
Issuance of class A common shares, net of offering costs (in shares)					14,950,000
Class A Common Shares | Public Stock Offering - Issued Directly By The Company
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)			10,000,000	5,500,000
Sale of stock, consideration received on transaction			$ 375,800	$ 194,000
Offering costs			$ 200	$ 200	$ 200
Proceeds from issuance of Class A common shares					$ 411,700
Class A Common Shares | Public Stock Offering - Forward Sales Agreement
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)		5,000,000	13,000,000	13,245,000		13,245,000
Sale of stock, consideration received on transaction		$ 185,600				$ 463,500
Remaining stock available (in shares)							8,000,000
Class A Common Shares | Public Stock Offering - Forward Sales Agreement | Subsequent Events
Class of Stock [Line Items]
Sale of stock, number of shares issued in transaction (in shares)	8,000,000
Sale of stock, consideration received on transaction	$ 298,400
American Homes 4 Rent
Class of Stock [Line Items]
General partner ownership interest							87.30%	86.80%
Class A Common Units | Operating Partnership
Class of Stock [Line Items]
Units outstanding (in shares)						389,374,771	404,893,881	389,374,771

Shareholders' Equity _ Partne_4

Shareholders' Equity / Partners' Capital - At the Market Common Share Offering Program (Details) - Class A Common Shares - USD ($) $ in Thousands	12 Months Ended			30 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2022	Jun. 30, 2020
Class of Stock [Line Items]
Proceeds from issuance of Class A common shares	$ 561,472	$ 728,810	$ 414,100
Stock issuance costs	$ 200	$ 200	$ 600
At the Market - Common Share Offering Program
Class of Stock [Line Items]
Capital shares amount authorized for future issuance					$ 500,000
Common stock, shares issued (in shares)	0	1,749,286	86,130	1,835,416
Proceeds from issuance of Class A common shares		$ 72,300	$ 2,400
Stock issuance costs		$ 1,100	$ 400
Shares reserved for future issuance	$ 425,200			$ 425,200

Shareholders' Equity _ Partne_5

Shareholders' Equity / Partners' Capital - Share Repurchase Program (Details) - USD ($)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class A Common Shares
Class of Stock [Line Items]
Repurchase of class A common stock, authorized amount	$ 300,000,000
Remaining repurchase authorization amount	$ 265,100,000
Class A Common Shares | Common Stock
Class of Stock [Line Items]
Repurchases and retire of class A common shares (in shares)	0	0	0
Preferred shares
Class of Stock [Line Items]
Repurchase of class A common stock, authorized amount	$ 250,000,000
Remaining repurchase authorization amount	$ 250,000,000

Shareholders' Equity _ Partne_6

Shareholders' Equity / Partners' Capital - Class B Common Shares (Details) - Class B common shares	12 Months Ended
	Dec. 31, 2022 Vote shares
Class of Stock [Line Items]
Common shares entitled to vote | Vote	50
Maximum
Class of Stock [Line Items]
Voting interest percent	30%
2012 Offering | AH LLC | 2,770 Property Contribution
Class of Stock [Line Items]
Common stock issued in connection with investment (in shares) | shares	635,075

Shareholders' Equity _ Partne_7

Shareholders' Equity / Partners' Capital - Participating Preferred Shares (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Preferred shares, shares outstanding (in shares)			9,200,000	15,400,000
Current Liquidation Value			$ 230,000	$ 385,000
Liquidation preference per share (in dollars per share)			$ 25
Preferred shares, par value (in dollars per share)			$ 0.01	$ 0.01
Redemption of perpetual preferred shares			$ 5,276	$ 15,879	$ 0
Series D Preferred Stock
Class of Stock [Line Items]
Dividend Rate			6.50%
Liquidation preference per share (in dollars per share)		$ 25
Preferred stock redeemed (in shares)		10,750,000
Preferred shares, par value (in dollars per share)		$ 0.01
Redemption of perpetual preferred shares				8,500
Series E Preferred Stock
Class of Stock [Line Items]
Dividend Rate			6.35%
Liquidation preference per share (in dollars per share)		$ 25
Preferred stock redeemed (in shares)		9,200,000
Preferred shares, par value (in dollars per share)		$ 0.01
Redemption of perpetual preferred shares				$ 7,400
Series F perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate	5.875%		5.875%
Preferred shares, shares outstanding (in shares)			0	6,200,000
Current Liquidation Value			$ 0	$ 155,000
Liquidation preference per share (in dollars per share)	$ 25
Preferred stock redeemed (in shares)	6,200,000
Preferred shares, par value (in dollars per share)	$ 0.01
Series G perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate			5.875%
Preferred shares, shares outstanding (in shares)			4,600,000	4,600,000
Current Liquidation Value			$ 115,000	$ 115,000
Series H perpetual preferred shares
Class of Stock [Line Items]
Dividend Rate			6.25%
Preferred shares, shares outstanding (in shares)			4,600,000	4,600,000
Current Liquidation Value			$ 115,000	$ 115,000

Shareholders' Equity _ Partne_8

Shareholders' Equity / Partners' Capital - Exchangeable Senior Notes and Distributions (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Class of Stock [Line Items]
Net operating loss carryforward		$ 11.8	$ 25.4
Minimum
Class of Stock [Line Items]
REIT taxable income allocation, percentage		90%
Maximum
Class of Stock [Line Items]
REIT taxable income allocation, percentage		100%
Class A and Class B common shares
Class of Stock [Line Items]
Dividends declared on common shares (in dollars per unit)		$ 0.72	$ 0.40	$ 0.20
Series D Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate		6.50%
Preferred stock, dividends per share, declared (in dollars per share)		$ 0	0.70	1.63
Series E Preferred Stock
Class of Stock [Line Items]
Cumulative annual cash dividend rate		6.35%
Preferred stock, dividends per share, declared (in dollars per share)		$ 0	0.79	1.59
Series F perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate	5.875%	5.875%
Preferred stock, dividends per share, declared (in dollars per share)		$ 0.51	1.47	1.47
Series G perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate		5.875%
Preferred stock, dividends per share, declared (in dollars per share)		$ 1.47	1.47	1.47
Series H perpetual preferred shares
Class of Stock [Line Items]
Cumulative annual cash dividend rate		6.25%
Preferred stock, dividends per share, declared (in dollars per share)		$ 1.56	$ 1.56	$ 1.56

Shareholders' Equity _ Partne_9

Shareholders' Equity / Partners' Capital - Noncontrolling Interest Narrative (Details) - Operating Partnership - Class A Common Units - shares	Dec. 31, 2022	Dec. 31, 2021
Class of Stock [Line Items]
Units outstanding (in shares)	404,893,881	389,374,771
American Residential Properties Inc.
Class of Stock [Line Items]
Percentage of units outstanding	0.20%	0.20%
Units outstanding (in shares)	596,990	596,990
AH LLC
Class of Stock [Line Items]
Units owned (in shares)	50,779,990	50,779,990
Percentage of units outstanding	12.50%	13%

Share-Based Compensation - 2021

Share-Based Compensation - 2021 Equity Incentive Plan (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Jun. 30, 2021
Class of Stock [Line Items]
Required retirement notice period	6 months
2021 Equity Incentive Plan
Class of Stock [Line Items]
Required retirement notice period	6 months
2021 Equity Incentive Plan | Stock options
Class of Stock [Line Items]
Expiration period	10 years
2021 Equity Incentive Plan | Restricted Share Units (RSU) | Minimum
Class of Stock [Line Items]
Vesting period	1 year	1 year	1 year
2021 Equity Incentive Plan | Restricted Share Units (RSU) | Maximum
Class of Stock [Line Items]
Vesting period	3 years	3 years	3 years
2021 Equity Incentive Plan | Restricted Share Units (RSU) | Non-Management Trustees
Class of Stock [Line Items]
Vesting period	1 year	1 year	1 year
2021 Equity Incentive Plan | Performance Share Units (PSU)
Class of Stock [Line Items]
Vesting period	3 years	3 years
Award requisite service period	3 years	3 years
2021 Equity Incentive Plan | Performance Share Units (PSU) | Minimum
Class of Stock [Line Items]
Award vesting rights, percentage	0%
2021 Equity Incentive Plan | Performance Share Units (PSU) | Maximum
Class of Stock [Line Items]
Award vesting rights, percentage	200%
2021 Equity Incentive Plan | Class A Common Shares
Class of Stock [Line Items]
Shares available for issuance (in shares)				9,544,095

Share-Based Compensation - Stoc

Share-Based Compensation - Stock Option Activity (Details) - Stock options - 2021 Equity Incentive Plan - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares
Options outstanding, beginning of period (in shares)	824,300	1,090,300	1,529,800
Granted (in shares)	0	0	0
Exercised (in shares)	(93,750)	(266,000)	(426,150)
Forfeited (in shares)	0	0	(13,350)
Options outstanding, end of period (in shares)	730,550	824,300	1,090,300	1,529,800
Options exercisable at period end (in shares)	725,550
Weighted-Average Exercise Price
Options outstanding, beginning balance (in dollars per share)	$ 17.89	$ 17.68	$ 17.40
Granted (in dollars per share)	0	0	0
Exercised (in dollars per share)	17.26	17.01	16.55
Forfeited (in dollars per share)	0	0	21.89
Options outstanding, ending balance (in dollars per share)	17.97	$ 17.89	$ 17.68	$ 17.40
Options exercisable at period end (in dollars per share)	$ 17.96
Options outstanding, weighted average contractual life	3 years	3 years 8 months 12 days	4 years 6 months	5 years 3 months 18 days
Options exercisable at period end, weighted average contractual life	3 years
Aggregate Intrinsic Value
Options outstanding, intrinsic value	$ 8,889	$ 21,200	$ 13,436	$ 13,479
Exercised, intrinsic value	1,782	$ 5,625	$ 4,911
Options exercisable at period end, intrinsic value	$ 8,841

Share-Based Compensation - Rest

Share-Based Compensation - Restricted Stock Units and Performance Share Units (Details) - 2021 Equity Incentive Plan - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Restricted Share Units (RSU)
Share Units
Beginning of period (in shares)	1,050,599	651,537	599,109
Awarded (in shares)	466,802	651,898	470,147
Vested (in shares)	(439,643)	(209,824)	(316,186)
Forfeited (in shares)	(53,036)	(43,012)	(101,533)
End of period (in shares)	1,024,722	1,050,599	651,537
Weighted- Average Grant Date Fair Value
Weighted- Average Grant Date Fair Value, Beginning balance (in dollars per share)	$ 29.71	$ 24.53	$ 21.71
Weighted- Average Grant Date Fair Value, Awarded (in dollars per share)	39.52	32.69	27.38
Weighted- Average Grant Date Fair Value, Vested (in dollars per share)	29.41	23.15	23.61
Weighted- Average Grant Date Fair Value, Forfeited (in dollars per share)	35.85	28.41	23.93
Weighted- Average Grant Date Fair Value, Ending balance (in dollars per share)	$ 33.99	$ 29.71	$ 24.53
Performance Share Units (PSU)
Share Units
Beginning of period (in shares)	92,319	0
Awarded (in shares)	202,104	92,319
Vested (in shares)	0	0
Forfeited (in shares)	0	0
End of period (in shares)	294,423	92,319	0
Weighted- Average Grant Date Fair Value
Weighted- Average Grant Date Fair Value, Beginning balance (in dollars per share)	$ 34.83	$ 0
Weighted- Average Grant Date Fair Value, Awarded (in dollars per share)	43.91	34.83
Weighted- Average Grant Date Fair Value, Vested (in dollars per share)	0	0
Weighted- Average Grant Date Fair Value, Forfeited (in dollars per share)	0	0
Weighted- Average Grant Date Fair Value, Ending balance (in dollars per share)	$ 41.07	$ 34.83	$ 0

Share-Based Compensation - PSU

Share-Based Compensation - PSU TSR Valuation Inputs (Details) - Class A Common Shares - PSU TSR Awards	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	3 years	3 years
Dividend yield	1.03%	0.67%
Estimated volatility	27.62%	28.48%
Risk-free interest rate	1.39%	0.20%

Share-Based Compensation - 20_2

Share-Based Compensation - 2021 Employee Stock Purchase Plan (Details) - 2021 Employee Stock Purchase Plan	3 Months Ended
	Jun. 30, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, purchase period	6 months
Share-based compensation arrangement by share-based payment award, purchase price of common stock, percent	85%
Class A Common Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation arrangement by share-based payment award, shares authorized (in shares)	3,000,000

Share-Based Compensation - Nonc

Share-Based Compensation - Noncash Share-Based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	$ 27,308	$ 17,792	$ 9,834
Weighted-average period of unvested cost	6 months
Restricted Share Units (RSU)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total unrecognized compensation cost	$ 14,900
Weighted-average period of unvested cost	1 year 4 months 24 days
Performance Share Units (PSU)
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total unrecognized compensation cost	$ 5,000
Weighted-average period of unvested cost	1 year 9 months 18 days
General and administrative expense
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	$ 15,318	9,361	6,573
Property management expenses
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	3,861	3,004	1,745
Acquisition and other transaction costs
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Total noncash share-based compensation expense	$ 8,129	$ 5,427	$ 1,516

Earnings per Share _ Unit (Deta

Earnings per Share / Unit (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares
Numerator:
Net income	$ 310,025	$ 210,559	$ 154,829
Less:
Noncontrolling interest	36,887	21,467	14,455
Dividends on preferred shares/units	17,081	37,923	55,128
Redemption of perpetual preferred units	5,276	15,879	0
Allocation to participating securities	767	418	217
Numerator for income per common share/unit - basic and diluted	$ 250,014	$ 134,872	$ 85,029
Denominator:
Weighted-average common shares outstanding - basic (in shares) | shares	349,290,848	324,245,168	306,613,197
Share-based compensation plan and forward sale equity contracts | shares	496,244	1,273,123	461,550
Weighted-average common shares/units outstanding - diluted (in shares) | shares	349,787,092	325,518,291	307,074,747
Net income (loss) per common share/unit
Basic (in dollars per share) | $ / shares	$ 0.72	$ 0.42	$ 0.28
Diluted (in dollars per share) | $ / shares	$ 0.71	$ 0.41	$ 0.28
Stock exchange ratio	1
American Homes 4 Rent, L.P.
Numerator:
Net income	$ 310,025	$ 210,559	$ 154,829
Less:
Dividends on preferred shares/units	17,081	37,923	55,128
Redemption of perpetual preferred units	5,276	15,879	0
Allocation to participating securities	767	418	217
Numerator for income per common share/unit - basic and diluted	$ 286,901	$ 156,339	$ 99,484
Denominator:
Weighted-average common units outstanding - basic (in shares) | shares	400,667,828	375,693,107	358,603,291
Share-based compensation plan and forward sale equity contracts | shares	496,244	1,273,123	461,550
Weighted-average common units outstanding–diluted (in shares) | shares	401,164,072	376,966,230	359,064,841
Net income (loss) per common share/unit
Basic (in dollars per share) | $ / shares	$ 0.72	$ 0.42	$ 0.28
Diluted (in dollars per share) | $ / shares	$ 0.71	$ 0.41	$ 0.28

Fair Value - Carrying Value and

Fair Value - Carrying Value and Fair Value (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loss on settlement of cash flow hedging instrument			$ 0	$ 3,999	$ 0
Designated as Hedging Instrument | Treasury Lock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, notional amount		$ 400,000
Derivative, term of contract		10 years
Loss on settlement of cash flow hedging instrument	$ 4,000
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revolving credit facility			130,000	350,000
Total debt			4,515,998	3,880,478
Carrying Value | Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			1,890,842	1,908,346
Carrying Value | AMH 2014-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			465,864	470,039
Carrying Value | AMH 2014-SFR3 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			480,467	485,005
Carrying Value | AMH 2015-SFR1 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			505,738	510,585
Carrying Value | AMH 2015-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			438,773	442,717
Carrying Value | Unsecured Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			2,495,156	1,622,132
Carrying Value | 2028 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			495,956	495,166
Carrying Value | 2029 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			396,543	395,990
Carrying Value | 2031 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			441,133	440,095
Carrying Value | 2032 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			581,533	0
Carrying Value | 2051 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			291,189	290,881
Carrying Value | 2052 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			288,802	0
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Revolving credit facility			130,000	350,000
Total debt			4,140,351	4,068,175
Fair Value | Asset-Backed Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			1,905,542	1,952,026
Fair Value | AMH 2014-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			469,192	479,464
Fair Value | AMH 2014-SFR3 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			484,350	495,659
Fair Value | AMH 2015-SFR1 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			509,714	521,639
Fair Value | AMH 2015-SFR2 securitization
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			442,286	455,264
Fair Value | Unsecured Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			2,104,809	1,766,149
Fair Value | 2028 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			463,920	554,895
Fair Value | 2029 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			377,680	463,840
Fair Value | 2031 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			347,243	442,953
Fair Value | 2032 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			504,294	0
Fair Value | 2051 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			189,750	304,461
Fair Value | 2052 unsecured senior notes, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total asset-backed securitizations and unsecured senior notes, net			$ 221,922	$ 0

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Dec. 31, 2020	Dec. 31, 2022	Dec. 31, 2021
Class A Common Shares
Related Party Transaction
Common stock, shares outstanding (in shares)		352,881,826	337,362,716
Class B common shares
Related Party Transaction
Common stock, shares outstanding (in shares)		635,075	635,075
Affiliates
Related Party Transaction
Percent of shares held		23.90%	24.80%
Affiliates | American Homes 4 Rent, L.P.
Related Party Transaction
Due from affiliates		$ 25.7	$ 25.7
Affiliates | Class A Common Shares
Related Party Transaction
Percent of shares held		12.90%	13.50%
Affiliates | Class B common shares
Related Party Transaction
Common stock, shares outstanding (in shares)		635,075	635,075
Affiliates | Class A Common Units
Related Party Transaction
Common stock, shares outstanding (in shares)		50,622,165	50,622,165
Former Employee
Related Party Transaction
Settlement with related party	$ 2.9

Commitments and Contingencies -

Commitments and Contingencies - Leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Operating leases rental expenses
Lease costs	$ 3,897	$ 3,957	$ 3,447
Other Operating Lease Information
Weighted-average remaining lease term	6 years 7 months 6 days	7 years 10 months 24 days
Weighted-average discount rate	2.60%	2.80%
Future lease obligations under our operating leases
2023	$ 3,917
2024	3,889
2025	3,526
2026	2,703
2027	2,276
Thereafter	6,453
Total lease payments	22,764
Less: imputed interest	(2,009)
Operating lease liabilities	$ 20,755	$ 18,723

Commitments and Contingencies_2

Commitments and Contingencies - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2022 USD ($) lot singleFamilyProperty	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Commitments and contingencies
Number of real estate properties held-for-sale in escrow | singleFamilyProperty	237
Number of land lots held-for-sale in escrow | lot	50,000
Expected proceeds from sale of property held-for-sale	$ 73.8
Company contributions	3.1	$ 2.5	$ 2
Surety Bond
Commitments and contingencies
Current carrying value	185.3
Single Family
Commitments and contingencies
Third party development agreements and land	12.3
Land
Commitments and contingencies
Third party development agreements and land	$ 228.9
Commitment to acquire properties
Commitments and contingencies
Number of properties | singleFamilyProperty	52
Minimum
Commitments and contingencies
Operating leases have remaining lease terms	1 year
Maximum
Commitments and contingencies
Operating leases have remaining lease terms	9 years

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands		1 Months Ended	2 Months Ended	3 Months Ended			6 Months Ended	12 Months Ended
	Feb. 10, 2023 $ / shares	Jan. 31, 2023 USD ($) shares	Feb. 17, 2023 USD ($) property	Sep. 30, 2022 USD ($) shares	Mar. 31, 2022 shares	Jun. 30, 2021 shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Subsequent Event
Net proceeds received from sales of single-family properties and other								$ 292,509	$ 132,072	$ 228,566
Outstanding borrowings							$ 3,924,181	4,581,628	3,924,181
Class A common shares | Public Stock Offering - Forward Sales Agreement
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares				5,000,000	13,000,000	13,245,000	13,245,000
Sale of stock, consideration received on transaction				$ 185,600			$ 463,500
Revolving Credit Facility
Subsequent Event
Payments on credit facility								840,000	1,060,000	$ 130,000
Line of Credit | Revolving Credit Facility
Subsequent Event
Outstanding borrowings							$ 350,000	$ 130,000	$ 350,000
Subsequent Events
Subsequent Event
Number of properties acquired | property			127
Total cost of property acquired			$ 42,600
Number of internally developed properties developed | property			123
Number of newly constructed homes acquired from third-party developers | property			4
Number of properties sold | property			319
Net proceeds received from sales of single-family properties and other			$ 87,400
Subsequent Events | Class A common shares
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.22
Subsequent Events | Class A common shares | Public Stock Offering - Forward Sales Agreement
Subsequent Event
Sale of stock, number of shares issued in transaction (in shares) | shares		8,000,000
Sale of stock, consideration received on transaction		$ 298,400
Subsequent Events | Class B common shares
Subsequent Event
Dividends declared on common shares (in dollars per unit) | $ / shares	$ 0.22
Subsequent Events | Line of Credit | Revolving Credit Facility
Subsequent Event
Payments on credit facility			130,000
Outstanding borrowings			$ 0

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation - Schedule of Properties (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2022 USD ($) singleFamilyProperty	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	58,993
Gross Book Value of Encumbered Assets	$ 3,186,462
Initial Cost to Company, Land	2,789,666
Initial Cost to Company, Buildings and Improvements	8,658,112
Cost Capitalized Subsequent to Acquisition, Land	542,069
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,763,905
Total Cost, Land	3,331,735
Total Cost, Buildings and Improvements	10,422,017
Total	13,753,752
Accumulated Depreciation	(2,429,143)
Net Cost Basis	11,324,609
Aggregate cost of consolidated real estate for federal income tax purposes	$ 13,900,000
Total Single-family properties in operation
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	57,878
Gross Book Value of Encumbered Assets	$ 3,186,462
Initial Cost to Company, Land	2,197,233
Initial Cost to Company, Buildings and Improvements	8,509,431
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,618,460
Total Cost, Land	2,197,233
Total Cost, Buildings and Improvements	10,127,891
Total	12,325,124	$ 11,320,426	$ 9,999,821	$ 9,448,381
Accumulated Depreciation	(2,386,452)	$ (2,072,933)	$ (1,754,433)	$ (1,462,105)
Net Cost Basis	$ 9,938,672
Total Single-family properties in operation | Albuquerque, NM
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	271
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	9,987
Initial Cost to Company, Buildings and Improvements	39,974
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	6,122
Total Cost, Land	9,987
Total Cost, Buildings and Improvements	46,096
Total	56,083
Accumulated Depreciation	(10,334)
Net Cost Basis	$ 45,749
Total Single-family properties in operation | Atlanta, GA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	5,805
Gross Book Value of Encumbered Assets	$ 204,285
Initial Cost to Company, Land	209,358
Initial Cost to Company, Buildings and Improvements	869,248
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	177,486
Total Cost, Land	209,358
Total Cost, Buildings and Improvements	1,046,734
Total	1,256,092
Accumulated Depreciation	(213,205)
Net Cost Basis	$ 1,042,887
Total Single-family properties in operation | Austin, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	772
Gross Book Value of Encumbered Assets	$ 36,223
Initial Cost to Company, Land	29,383
Initial Cost to Company, Buildings and Improvements	112,485
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	18,446
Total Cost, Land	29,383
Total Cost, Buildings and Improvements	130,931
Total	160,314
Accumulated Depreciation	(33,120)
Net Cost Basis	$ 127,194
Total Single-family properties in operation | Boise, ID
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	806
Gross Book Value of Encumbered Assets	$ 8,013
Initial Cost to Company, Land	34,217
Initial Cost to Company, Buildings and Improvements	155,630
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	31,339
Total Cost, Land	34,217
Total Cost, Buildings and Improvements	186,969
Total	221,186
Accumulated Depreciation	(21,929)
Net Cost Basis	$ 199,257
Total Single-family properties in operation | Charleston, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,524
Gross Book Value of Encumbered Assets	$ 84,115
Initial Cost to Company, Land	67,492
Initial Cost to Company, Buildings and Improvements	237,371
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	40,793
Total Cost, Land	67,492
Total Cost, Buildings and Improvements	278,164
Total	345,656
Accumulated Depreciation	(53,403)
Net Cost Basis	$ 292,253
Total Single-family properties in operation | Charlotte, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	3,962
Gross Book Value of Encumbered Assets	$ 316,302
Initial Cost to Company, Land	153,613
Initial Cost to Company, Buildings and Improvements	586,546
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	97,054
Total Cost, Land	153,613
Total Cost, Buildings and Improvements	683,600
Total	837,213
Accumulated Depreciation	(162,498)
Net Cost Basis	$ 674,715
Total Single-family properties in operation | Cincinnati, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,131
Gross Book Value of Encumbered Assets	$ 240,076
Initial Cost to Company, Land	70,684
Initial Cost to Company, Buildings and Improvements	284,433
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	59,015
Total Cost, Land	70,684
Total Cost, Buildings and Improvements	343,448
Total	414,132
Accumulated Depreciation	(99,134)
Net Cost Basis	$ 314,998
Total Single-family properties in operation | Colorado Springs, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	106
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	7,895
Initial Cost to Company, Buildings and Improvements	33,259
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,807
Total Cost, Land	7,895
Total Cost, Buildings and Improvements	37,066
Total	44,961
Accumulated Depreciation	(2,208)
Net Cost Basis	$ 42,753
Total Single-family properties in operation | Columbus, OH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,110
Gross Book Value of Encumbered Assets	$ 145,698
Initial Cost to Company, Land	65,116
Initial Cost to Company, Buildings and Improvements	272,162
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	60,014
Total Cost, Land	65,116
Total Cost, Buildings and Improvements	332,176
Total	397,292
Accumulated Depreciation	(88,075)
Net Cost Basis	$ 309,217
Total Single-family properties in operation | Dallas-Fort Worth, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	4,224
Gross Book Value of Encumbered Assets	$ 287,739
Initial Cost to Company, Land	111,823
Initial Cost to Company, Buildings and Improvements	511,853
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	111,999
Total Cost, Land	111,823
Total Cost, Buildings and Improvements	623,852
Total	735,675
Accumulated Depreciation	(190,222)
Net Cost Basis	$ 545,453
Total Single-family properties in operation | Denver, CO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	842
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	47,993
Initial Cost to Company, Buildings and Improvements	187,797
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	26,766
Total Cost, Land	47,993
Total Cost, Buildings and Improvements	214,563
Total	262,556
Accumulated Depreciation	(56,756)
Net Cost Basis	$ 205,800
Total Single-family properties in operation | Greater Chicago area, IL and IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,611
Gross Book Value of Encumbered Assets	$ 167,260
Initial Cost to Company, Land	50,926
Initial Cost to Company, Buildings and Improvements	199,847
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	53,479
Total Cost, Land	50,926
Total Cost, Buildings and Improvements	253,326
Total	304,252
Accumulated Depreciation	(89,845)
Net Cost Basis	$ 214,407
Total Single-family properties in operation | Greensboro, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	731
Gross Book Value of Encumbered Assets	$ 54,095
Initial Cost to Company, Land	22,075
Initial Cost to Company, Buildings and Improvements	99,702
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	15,854
Total Cost, Land	22,075
Total Cost, Buildings and Improvements	115,556
Total	137,631
Accumulated Depreciation	(31,789)
Net Cost Basis	$ 105,842
Total Single-family properties in operation | Greenville, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	774
Gross Book Value of Encumbered Assets	$ 74,461
Initial Cost to Company, Land	22,371
Initial Cost to Company, Buildings and Improvements	115,222
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	18,782
Total Cost, Land	22,371
Total Cost, Buildings and Improvements	134,004
Total	156,375
Accumulated Depreciation	(32,982)
Net Cost Basis	$ 123,393
Total Single-family properties in operation | Houston, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,642
Gross Book Value of Encumbered Assets	$ 151,691
Initial Cost to Company, Land	58,566
Initial Cost to Company, Buildings and Improvements	336,662
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	69,825
Total Cost, Land	58,566
Total Cost, Buildings and Improvements	406,487
Total	465,053
Accumulated Depreciation	(119,288)
Net Cost Basis	$ 345,765
Total Single-family properties in operation | Indianapolis, IN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,910
Gross Book Value of Encumbered Assets	$ 303,038
Initial Cost to Company, Land	83,631
Initial Cost to Company, Buildings and Improvements	334,909
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	80,853
Total Cost, Land	83,631
Total Cost, Buildings and Improvements	415,762
Total	499,393
Accumulated Depreciation	(127,579)
Net Cost Basis	$ 371,814
Total Single-family properties in operation | Inland Empire, CA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	44
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	4,938
Initial Cost to Company, Buildings and Improvements	5,719
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	1,096
Total Cost, Land	4,938
Total Cost, Buildings and Improvements	6,815
Total	11,753
Accumulated Depreciation	(1,914)
Net Cost Basis	$ 9,839
Total Single-family properties in operation | Jacksonville, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,891
Gross Book Value of Encumbered Assets	$ 62,509
Initial Cost to Company, Land	99,360
Initial Cost to Company, Buildings and Improvements	421,766
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	81,727
Total Cost, Land	99,360
Total Cost, Buildings and Improvements	503,493
Total	602,853
Accumulated Depreciation	(103,991)
Net Cost Basis	$ 498,862
Total Single-family properties in operation | Knoxville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	449
Gross Book Value of Encumbered Assets	$ 17,855
Initial Cost to Company, Land	16,286
Initial Cost to Company, Buildings and Improvements	81,245
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	10,323
Total Cost, Land	16,286
Total Cost, Buildings and Improvements	91,568
Total	107,854
Accumulated Depreciation	(21,506)
Net Cost Basis	$ 86,348
Total Single-family properties in operation | Las Vegas, NV
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,854
Gross Book Value of Encumbered Assets	$ 22,437
Initial Cost to Company, Land	95,701
Initial Cost to Company, Buildings and Improvements	317,284
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	80,210
Total Cost, Land	95,701
Total Cost, Buildings and Improvements	397,494
Total	493,195
Accumulated Depreciation	(62,376)
Net Cost Basis	$ 430,819
Total Single-family properties in operation | Memphis, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	688
Gross Book Value of Encumbered Assets	$ 17,374
Initial Cost to Company, Land	24,166
Initial Cost to Company, Buildings and Improvements	89,211
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,767
Total Cost, Land	24,166
Total Cost, Buildings and Improvements	106,978
Total	131,144
Accumulated Depreciation	(27,110)
Net Cost Basis	$ 104,034
Total Single-family properties in operation | Miami, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	179
Gross Book Value of Encumbered Assets	$ 3,485
Initial Cost to Company, Land	2,129
Initial Cost to Company, Buildings and Improvements	20,817
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	5,303
Total Cost, Land	2,129
Total Cost, Buildings and Improvements	26,120
Total	28,249
Accumulated Depreciation	(9,168)
Net Cost Basis	$ 19,081
Total Single-family properties in operation | Milwaukee, WI
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	94
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	5,776
Initial Cost to Company, Buildings and Improvements	16,604
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	2,342
Total Cost, Land	5,776
Total Cost, Buildings and Improvements	18,946
Total	24,722
Accumulated Depreciation	(6,673)
Net Cost Basis	$ 18,049
Total Single-family properties in operation | Nashville, TN
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	3,238
Gross Book Value of Encumbered Assets	$ 235,777
Initial Cost to Company, Land	140,135
Initial Cost to Company, Buildings and Improvements	542,035
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	93,629
Total Cost, Land	140,135
Total Cost, Buildings and Improvements	635,664
Total	775,799
Accumulated Depreciation	(142,443)
Net Cost Basis	$ 633,356
Total Single-family properties in operation | Orlando, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,867
Gross Book Value of Encumbered Assets	$ 47,245
Initial Cost to Company, Land	70,966
Initial Cost to Company, Buildings and Improvements	255,720
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	52,376
Total Cost, Land	70,966
Total Cost, Buildings and Improvements	308,096
Total	379,062
Accumulated Depreciation	(74,936)
Net Cost Basis	$ 304,126
Total Single-family properties in operation | Phoenix, AZ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	3,405
Gross Book Value of Encumbered Assets	$ 57,352
Initial Cost to Company, Land	160,653
Initial Cost to Company, Buildings and Improvements	469,853
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	81,428
Total Cost, Land	160,653
Total Cost, Buildings and Improvements	551,281
Total	711,934
Accumulated Depreciation	(123,539)
Net Cost Basis	$ 588,395
Total Single-family properties in operation | Portland, OR
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	184
Gross Book Value of Encumbered Assets	$ 24,227
Initial Cost to Company, Land	13,285
Initial Cost to Company, Buildings and Improvements	23,880
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	3,434
Total Cost, Land	13,285
Total Cost, Buildings and Improvements	27,314
Total	40,599
Accumulated Depreciation	(7,281)
Net Cost Basis	$ 33,318
Total Single-family properties in operation | Raleigh, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,177
Gross Book Value of Encumbered Assets	$ 227,066
Initial Cost to Company, Land	78,226
Initial Cost to Company, Buildings and Improvements	304,670
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	46,270
Total Cost, Land	78,226
Total Cost, Buildings and Improvements	350,940
Total	429,166
Accumulated Depreciation	(94,873)
Net Cost Basis	$ 334,293
Total Single-family properties in operation | Salt Lake City, UT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,908
Gross Book Value of Encumbered Assets	$ 162,302
Initial Cost to Company, Land	120,585
Initial Cost to Company, Buildings and Improvements	379,814
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	75,505
Total Cost, Land	120,585
Total Cost, Buildings and Improvements	455,319
Total	575,904
Accumulated Depreciation	(86,876)
Net Cost Basis	$ 489,028
Total Single-family properties in operation | San Antonio, TX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,325
Gross Book Value of Encumbered Assets	$ 61,205
Initial Cost to Company, Land	40,081
Initial Cost to Company, Buildings and Improvements	178,430
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	39,546
Total Cost, Land	40,081
Total Cost, Buildings and Improvements	217,976
Total	258,057
Accumulated Depreciation	(46,527)
Net Cost Basis	$ 211,530
Total Single-family properties in operation | Savannah/Hilton Head, SC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,042
Gross Book Value of Encumbered Assets	$ 42,614
Initial Cost to Company, Land	38,603
Initial Cost to Company, Buildings and Improvements	155,239
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	22,718
Total Cost, Land	38,603
Total Cost, Buildings and Improvements	177,957
Total	216,560
Accumulated Depreciation	(35,227)
Net Cost Basis	$ 181,333
Total Single-family properties in operation | Seattle, WA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,141
Gross Book Value of Encumbered Assets	$ 28,558
Initial Cost to Company, Land	91,501
Initial Cost to Company, Buildings and Improvements	251,741
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	26,701
Total Cost, Land	91,501
Total Cost, Buildings and Improvements	278,442
Total	369,943
Accumulated Depreciation	(44,313)
Net Cost Basis	$ 325,630
Total Single-family properties in operation | Tampa, FL
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	2,729
Gross Book Value of Encumbered Assets	$ 46,790
Initial Cost to Company, Land	108,203
Initial Cost to Company, Buildings and Improvements	422,563
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	71,887
Total Cost, Land	108,203
Total Cost, Buildings and Improvements	494,450
Total	602,653
Accumulated Depreciation	(112,530)
Net Cost Basis	$ 490,123
Total Single-family properties in operation | Tucson, AZ
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	598
Gross Book Value of Encumbered Assets	$ 12,408
Initial Cost to Company, Land	20,207
Initial Cost to Company, Buildings and Improvements	91,191
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,560
Total Cost, Land	20,207
Total Cost, Buildings and Improvements	108,751
Total	128,958
Accumulated Depreciation	(20,340)
Net Cost Basis	$ 108,618
Total Single-family properties in operation | Winston Salem, NC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	844
Gross Book Value of Encumbered Assets	$ 44,262
Initial Cost to Company, Land	21,302
Initial Cost to Company, Buildings and Improvements	104,549
Cost Capitalized Subsequent to Acquisition, Land	0
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	17,004
Total Cost, Land	21,302
Total Cost, Buildings and Improvements	121,553
Total	142,855
Accumulated Depreciation	(32,462)
Net Cost Basis	$ 110,393
Properties under development & development land
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	0
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	541,031
Initial Cost to Company, Buildings and Improvements	0
Cost Capitalized Subsequent to Acquisition, Land	538,901
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	107,289
Total Cost, Land	1,079,932
Total Cost, Buildings and Improvements	107,289
Total	1,187,221
Accumulated Depreciation	0
Net Cost Basis	$ 1,187,221
Total Single-family properties held for sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Number of Single-Family Homes | singleFamilyProperty	1,115
Gross Book Value of Encumbered Assets	$ 0
Initial Cost to Company, Land	51,402
Initial Cost to Company, Buildings and Improvements	148,681
Cost Capitalized Subsequent to Acquisition, Land	3,168
Costs Capitalized Subsequent to Acquisition, Buildings and Improvements	38,156
Total Cost, Land	54,570
Total Cost, Buildings and Improvements	186,837
Total	241,407
Accumulated Depreciation	(42,691)
Net Cost Basis	$ 198,716

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation - Change in Total Real Estate Assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in total real estate assets
Balance, end of period	$ 13,753,752
Total Single-family properties in operation
Change in total real estate assets
Balance, beginning of period	11,320,426	$ 9,999,821	$ 9,448,381
Acquisitions and building improvements	1,325,231	1,426,921	689,566
Dispositions	(186,498)	(95,997)	(208,540)
Write-offs	(36,614)	(23,916)	(20,843)
Impairment	(2,499)	(131)	(1,957)
Reclassifications to single-family properties held for sale, net of dispositions	(94,922)	13,728	93,214
Balance, end of period	$ 12,325,124	$ 11,320,426	$ 9,999,821

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Change in Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Change in accumulated depreciation
Balance, end of period	$ (2,429,143)
Building and building improvements
Change in accumulated depreciation
Estimated useful life of asset	30 years
Building and building improvements | Minimum
Change in accumulated depreciation
Estimated useful life of asset	3 years
Building and building improvements | Maximum
Change in accumulated depreciation
Estimated useful life of asset	30 years
Total Single-family properties in operation
Change in accumulated depreciation
Balance, beginning of period	$ (2,072,933)	$ (1,754,433)	$ (1,462,105)
Depreciation	(410,413)	(357,797)	(330,192)
Dispositions	37,453	14,990	29,433
Write-offs	36,614	23,916	20,843
Reclassifications to single-family properties held for sale, net of dispositions	22,827	391	(12,412)
Balance, end of period	$ (2,386,452)	$ (2,072,933)	$ (1,754,433)