Vinebrook Homes Trust 10-K 23 Feb 22 2021 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 18, 2022	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001755755
Entity Registrant Name	VINEBROOK HOMES TRUST, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Document Transition Report	false
Entity File Number	000-56274
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	83-1268857
Entity Address, Address Line One	300 Crescent Court, Suite 700
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75201
City Area Code	214
Local Phone Number	276-6300
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Public Float			$ 562,000,000
Entity Common Stock, Shares Outstanding		23,343,254
Auditor Name	Ernst & Young LLP
Auditor Location	Phoenix, Arizona
Auditor Firm ID	42
ICFR Auditor Attestation Flag	true

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS
Land	$ 334,191	$ 171,062
Buildings and improvements	1,391,786	582,610
Intangible lease assets	971	795
Total gross operating real estate investments	1,726,948	754,467
Accumulated depreciation and amortization	(76,789)	(34,396)
Total net operating real estate investments	1,650,159	720,071
Real estate held for sale, net	81	675
Total net real estate investments	1,650,240	720,746
Investment in limited partnership	2,500	0
Cash	54,104	31,225
Restricted cash	20,893	5,871
Accounts and other receivables	8,327	2,880
Due from Manager (see Note 12)	2,909	1,766
Prepaid and other assets	19,352	17,480
TOTAL ASSETS	1,758,325	779,968
Liabilities:
Notes payable, net	376,842	262,522
Credit facilities, net	391,703	83,937
NREO Note Payable, net (see Note 12)	0	1,250
Accounts payable and other accrued liabilities	47,208	8,573
Accrued real estate taxes payable	19,450	12,591
Accrued interest payable	1,690	616
Security deposit liability	14,295	7,292
Prepaid rents	3,341	1,255
Fair market value of interest rate swaps	3,590	15,453
Total Liabilities	858,119	393,489
Redeemable Series A preferred stock, $0.01 par value: 16,000,000 shares authorized; 5,000,000 and 3,540,000 shares issued and outstanding, respectively	120,896	85,067
Redeemable noncontrolling interests in the OP	196,362	127,090
Stockholders' Equity:
Common stock, $0.01 par value: 300,000,000 shares authorized; 21,814,248 and 9,260,795 shares issued and outstanding, respectively	219	93
Additional paid-in capital	651,531	210,381
Distributions in excess of retained earnings	(68,011)	(26,002)
Accumulated other comprehensive loss	(791)	(10,150)
Total Stockholders' Equity	582,948	174,322
TOTAL LIABILITIES AND EQUITY	$ 1,758,325	$ 779,968

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Redeemable preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Redeemable preferred stock, shares authorized (in shares)	16,000,000	16,000,000
Redeemable preferred stock, shares issued (in shares)	5,000,000	3,540,000
Redeemable preferred stock, shares outstanding (in shares)	5,000,000	3,540,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	21,814,248	9,260,795
Common stock, shares outstanding (in shares)	21,814,248	9,260,795

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues
Rental income	$ 153,424	$ 74,865	$ 50,971
Other income	3,517	1,589	1,353
Total revenues	156,941	76,454	52,324
Expenses
Property operating expenses	26,129	15,722	10,734
Real estate taxes and insurance	27,455	15,407	9,369
Property management fees	7,621	4,611	3,190
Advisory fees	8,281	3,271	1,710
Depreciation and amortization	48,573	20,447	16,081
Interest expense	25,189	10,901	9,813
Total expenses	156,882	77,470	53,944
Loss on sales of real estate	(203)	(930)	(44)
Casualty gain, net of insurance proceeds	205	281	22
Net income/(loss)	61	(1,665)	(1,642)
Dividends on and accretion to redemption value of Redeemable Series A preferred stock	8,837	1,052	0
Net loss attributable to redeemable noncontrolling interests in the OP	(144)	(570)	(967)
Net loss attributable to common stockholders	(8,632)	(2,147)	(675)
Other comprehensive income/(loss)
Unrealized gain/(loss) on interest rate swaps	11,863	(17,080)	1,627
Total comprehensive income/(loss)	11,924	(18,745)	(15)
Dividends on and accretion to redemption value of Redeemable Series A preferred stock	8,837	1,052	0
Comprehensive income/(loss) attributable to redeemable noncontrolling interests in the OP	2,360	(6,435)	(405)
Comprehensive income/(loss) attributable to common stockholders	$ 727	$ (13,362)	$ 390
Weighted average common shares outstanding - basic (in shares)	15,366	7,175	3,221
Weighted average common shares outstanding - diluted (in shares)	15,366	7,175	3,221
Loss per share - basic (in dollars per share)	$ (0.56)	$ (0.30)	$ (0.21)
Loss per share - diluted (in dollars per share)	$ (0.56)	$ (0.30)	$ (0.21)
Corporate, Non-Segment [Member]
Expenses
General and administrative expenses	$ 7,257	$ 4,313	$ 1,414
Operating Segments [Member]
Expenses
General and administrative expenses	$ 6,377	$ 2,798	$ 1,633

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Distributions in Excess of Net Income [Member]	AOCI Attributable to Parent [Member]	Total
Balances (in shares) at Dec. 31, 2018	1,906,770
Balances at Dec. 31, 2018	$ 19	$ 47,440	$ (836)	$ 0	$ 46,623
Net loss attributable to common stockholders		0	(675)	0	$ (675)
Issuance of Class A common stock (in shares)	3,255,762				3,255,762
Issuance of Class A common stock	$ 33	94,162	0	0	$ 94,195
Offering costs		(483)	0	0	(483)
Equity-based compensation		33	0	0	33
Common stock dividends declared		0	(6,724)	0	(6,724)
Other comprehensive income (loss) attributable to common stockholders		0	0	1,065	1,065
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP		(26,563)	0	0	(26,563)
Balances (in shares) at Dec. 31, 2019	5,162,532
Balances at Dec. 31, 2019	$ 52	114,589	(8,235)	1,065	107,471
Balances (in shares) at Dec. 31, 2018	1,906,770
Balances at Dec. 31, 2018	$ 19	47,440	(836)	0	$ 46,623
Issuance of Class A common stock (in shares)					20,234,761
Balances (in shares) at Dec. 31, 2021	21,814,248
Balances at Dec. 31, 2021	$ 219	651,531	(68,011)	(791)	$ 582,948
Balances (in shares) at Dec. 31, 2019	5,162,532
Balances at Dec. 31, 2019	$ 52	114,589	(8,235)	1,065	107,471
Net loss attributable to common stockholders		0	(2,147)	0	$ (2,147)
Issuance of Class A common stock (in shares)	4,129,621				4,142,704
Issuance of Class A common stock	$ 41	131,503	0	0	$ 131,544
Offering costs		(983)	0	0	(983)
Equity-based compensation	$ 0	1,147	0	0	1,147
Common stock dividends declared		0	(15,620)	0	(15,620)
Other comprehensive income (loss) attributable to common stockholders		0	0	(11,215)	(11,215)
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP		(34,462)	0	0	(34,462)
Redemptions of Class A common stock (in shares)	(44,441)
Redemptions of Class A common stock	$ 0	(1,413)	0	0	(1,413)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	13,083
Balances (in shares) at Dec. 31, 2020	9,260,795
Balances at Dec. 31, 2020	$ 93	210,381	(26,002)	(10,150)	174,322
Net loss attributable to common stockholders		0	(8,632)	0	$ (8,632)
Issuance of Class A common stock (in shares)	12,791,228				12,836,295
Issuance of Class A common stock	$ 128	521,689	0	0	$ 521,817
Offering costs		(3,702)	0	0	(3,702)
Equity-based compensation	$ 0	2,335	0	0	2,335
Common stock dividends declared		0	(33,377)	0	(33,377)
Other comprehensive income (loss) attributable to common stockholders		0	0	9,359	9,359
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP		(66,509)	0	0	(66,509)
Redemptions of Class A common stock (in shares)	(282,842)
Redemptions of Class A common stock	$ (2)	(12,663)	0	0	$ (12,665)
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)	45,067				45,067
Balances (in shares) at Dec. 31, 2021	21,814,248
Balances at Dec. 31, 2021	$ 219	$ 651,531	$ (68,011)	$ (791)	$ 582,948

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Common stock dividends declared, per share (in dollars per share)	$ 2.1204	$ 2.1204

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Cash flows from operating activities
Net income (loss)	$ 61	$ (1,665)	$ (1,642)
Adjustments to reconcile net loss to net cash provided by operating activities:
Loss on sales of real estate	203	930	44
Depreciation and amortization	48,573	20,447	16,081
Non-cash interest amortization	3,914	669	387
Change in fair value on derivative instruments included in interest expense	3,918	1,957	(419)
Net cash (paid)/received on derivative settlements	(4,290)	(2,315)	409
Equity-based compensation	4,688	2,638	320
Casualty gain, net of insurance proceeds	(205)	(281)	(22)
Changes in operating assets and liabilities, net of effects of acquisitions:
Operating assets	(5,503)	(1,319)	(2,565)
Operating liabilities	13,036	8,720	3,554
Net cash provided by operating activities	64,395	29,781	16,147
Cash flows from investing activities
Net proceeds from sales of real estate	2,071	7,160	791
Prepaid acquisition deposits	(15,603)	(16,484)	(182)
Insurance proceeds received	842	846	1,188
Acquisitions of real estate investments	(866,002)	(171,517)	(164,337)
Additions to real estate investments	(91,430)	(64,891)	(22,343)
Acquisition of limited partnership investment	(2,500)	0	0
Net cash used in investing activities	(972,622)	(244,886)	(184,883)
Cash flows from financing activities
Notes payable proceeds received	125,000	11,793	0
Notes payable payments	(9,939)	(157)	(40)
Credit facilities proceeds received	430,000	20,000	65,000
Credit facilities principal payments	(115,000)	0	0
NREO Note proceeds received	0	0	(1,250)
NREO Note repayment	(1,250)	0	0
Financing costs paid	(11,889)	(485)	(1,267)
Proceeds from issuance of Class A common stock	505,524	124,958	91,497	$ 721,979
Proceeds from issuance of Class A common stock received in advance	26,541	0	0
Redemptions of Class A common stock paid	(6,387)	(1,413)	0
Offering costs paid	(3,466)	(878)	(450)
Dividends paid to common stockholders	(15,920)	(8,040)	(4,124)
Payments for taxes related to net share settlement of stock-based compensation	(345)	0	0
Proceeds from issuance of redeemable Series A preferred stock, net of offering costs	35,117	84,940	0
Preferred stock dividends paid	(7,019)	0	0
Contributions from redeemable noncontrolling interests in the OP	4,926	10,000	3,012
Distributions to redeemable noncontrolling interests in the OP	(5,935)	(3,014)	(3,005)
Redemptions by redeemable noncontrolling interests in the OP	0	(2,700)	(12,000)
Net cash provided by financing activities	946,128	234,371	139,869
Change in cash and restricted cash	37,901	19,266	(28,867)
Cash and restricted cash, beginning of year	37,096	17,830	46,697	46,697
Cash and restricted cash, end of year	74,997	37,096	17,830	74,997
Supplemental Disclosure of Cash Flow Information
Interest paid, net of amount capitalized	11,953	8,581	8,982
Cash paid for income and franchise taxes	304	281	126
Supplemental Disclosure of Noncash Activities
Assumed liabilities in asset acquisitions	5,027	584	659
Accrued distributions payable to redeemable noncontrolling interests in the OP	941	647	0
Accrued redemptions payable to common stockholders	6,278	0	0
Accrued capital expenditures	(2,045)	0	0
Accretion to redemption value of Redeemable Series A preferred stock	712	127	0
Fair market value adjustment on assumed debt	0	138	531
Assumed debt on acquisitions	0	11,654	10,583
Offering costs accrued	341	105	33
Issuance of Shares to common stockholders related to DRIP dividends	16,638	7,219	2,702
DRIP dividends to common stockholders	(16,638)	(7,219)	(2,702)	(26,559)
Contributions from redeemable noncontrolling interests in the OP related to DRIP distributions	1,633	3,872	3,359
DRIP distributions to redeemable noncontrolling interests in the OP	(1,633)	(3,872)	(3,359)
Common Class A [Member]
Cash flows from financing activities
Proceeds from issuance of Class A common stock	501,694	124,325	91,493
Supplemental Disclosure of Noncash Activities
Accrued dividends payable	819	361	116	819
Series A Preferred Stock [Member]
Supplemental Disclosure of Noncash Activities
Accrued dividends payable	$ 4,062	$ 925	$ 0	$ 4,062

Note 1 - Organization and Descr

Note 1 - Organization and Description of Business	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. VineBrook Homes Trust, Inc. (the “Company”, “we”, “us,” “our”) was incorporated in Maryland on July 18, 2018 December 31, 2021 9 no The Company began operations on November 1, 2018 third November 1, 2018, May 1, 2019 ( no Between November 1, 2018 December 31, 2021 3 December 31, 2021 6 The Company is externally managed by NexPoint Real Estate Advisors V, L.P. (the “Adviser”), through an agreement dated November 1, 2018, May 4, 2020, November 1, 2021 ( one three one may third not The Company’s investment objectives are to maximize the cash flow and value of properties owned, acquire properties with cash flow growth potential, provide quarterly cash distributions and achieve long-term capital appreciation for its stockholders through targeted management and a renovation program for the homes acquired. On August 28, 2018, 1933, November 1, 2023 may two one may NexPoint Securities, Inc. (the “Dealer Manager”), an entity under common ownership with the Adviser, serves as the dealer manager for the Private Offering and Raymond James & Associates, Inc. (“Raymond James”) and other unaffiliated broker-dealers serve as placement agents (the “Placement Agents”) through selling agreements (“Selling Agreements”) between each Placement Agent and the Company. The Company has adopted a Long-Term Incentive Plan (the “2018 may 2018 January 1st January 1, 2019 December 31st may January 1st no 2018 may not may 2018 may

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Basis of Accounting and Use of Estimates The accompanying consolidated financial statements are presented in accordance with GAAP and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the dates of the consolidated financial statements and the amounts of revenues and expenses during the reporting periods. Actual amounts realized or paid could differ from those estimates. There have been no December 31, 2021 December 31, 2021 December 31, 2020 December 31, 2021 2020 2019 Principles of Consolidation The Company accounts for subsidiary partnerships, limited liability companies, joint ventures and other similar entities in which it holds an ownership interest in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidation first not December 31, 2021 not Real Estate Investments Upon acquisition, we evaluate our acquired SFR properties for purposes of determining whether a transaction should be accounted for as an asset acquisition or business combination. Since substantially all of the fair value of our acquired properties is concentrated in a single identifiable asset or group of similar identifiable assets and the acquisitions do not The allocation of Total Consideration, which is determined using inputs that are classified within Level 3 820, Fair Value Measurement 820” 7 third one one 2 Real estate assets, including land, buildings, improvements, fixtures, and intangible lease assets are stated at historical cost less accumulated depreciation and amortization. Costs incurred in making repairs and maintaining real estate assets are expensed as incurred. Expenditures for improvements, renovations, and replacements are capitalized at cost. The Company also incurs indirect costs to prepare acquired properties for rental. These 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, real estate taxes, insurance, utilities and other indirect costs as costs 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 the costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred, unless the renovation meets the Company’s capitalization criteria. Real estate-related depreciation and amortization are computed on a straight-line basis over the estimated useful lives as described in the following table: Land Not depreciated Buildings 27.5 Improvements and other assets 3 15 Intangible lease assets 6 As of December 31, 2021 December 31, 2020 December 31, 2021 2020 2019 Real estate assets are reviewed for impairment quarterly or whenever events or changes in circumstances indicate that the carrying amount of an asset may not may not December 31, 2021 2020 2019 Cash and restricted cash The Company maintains cash at multiple financial institutions and, at times, these balances exceed federally insurable limits. As a result, there is a concentration of credit risk related to amounts on deposit. We believe any risks are mitigated through the size of the financial institutions at which our cash balances are held. Restricted cash represents cash deposited in accounts related to security deposits, property taxes, insurance premiums and deductibles and other lender-required escrows. Amounts deposited in the reserve accounts associated with the loans can only be used as provided for in the respective loan agreements, and security deposits held pursuant to lease agreements are required to be segregated. The following table provides a reconciliation of cash and restricted cash reported on the consolidated balance sheets that sum to the total of such amount shown in the consolidated statements of cash flows (in thousands): December 31, 2021 December 31, 2020 December 31, 2019 Cash $ 54,104 $ 31,225 $ 11,896 Restricted cash 20,893 5,871 5,934 Total cash and restricted cash $ 74,997 $ 37,096 $ 17,830 Revenue Recognition The Company’s primary operations consist of rental income earned from its residents under lease agreements typically with terms of one 842, Leases January 1, 2019, not December 31, 2021, 2020 2019, Gains or losses on sales of properties are recognized pursuant to the provisions included in ASC 610 20, Other Income 610 20 In April 2020, 19 842. may not 19, not not not 19 Redeemable Securities Included in the Company’s consolidated balance sheets are redeemable noncontrolling interests in the OP and 6.50% Series A Cumulative Redeemable Preferred Stock (the “Preferred Shares”). These interests are presented in the “mezzanine” section of the consolidated balance sheets because they do not 480 10 S99 3A, 15 In accordance with ASC Topic 480 10 S99, 480 10 S99, Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of the Company’s common stock outstanding, which excludes any unvested RSUs issued pursuant to the 2018 not For the Year Ended December 31, 2021 2020 2019 Numerator for loss per share: Net income/(loss) $ 61 $ (1,665 ) $ (1,642 ) Less: Dividends on and accretion to redemption value of Redeemable Series A preferred stock 8,837 1,052 — Net loss attributable to redeemable noncontrolling interests in the OP (144 ) (570 ) (967 ) Net loss attributable to common stockholders $ (8,632 ) $ (2,147 ) $ (675 ) Denominator for earnings (loss) per share: Weighted average common shares outstanding - basic 15,366 7,175 3,221 Weighted average unvested RSUs, PI Units, and OP Units (1) — — — Weighted average common shares outstanding - diluted 15,366 7,175 3,221 Earnings (loss) per weighted average common share: Basic $ (0.56 ) $ (0.30 ) $ (0.21 ) Diluted $ (0.56 ) $ (0.30 ) $ (0.21 ) ( 1 For the years ended December 31, 2021 2020 2019 Segment Reporting Under the provision of ASC 280, Segment Reporting two 10% December 31, 2021 Recent Accounting Pronouncements In March 2020, 2020 04, Reference Rate Reform 848 2020 04” 2020 04 2020 04 may COVID- 19 The COVID- 19 not December 31, 2021 19 Reclassifications As of December 31, 2020,

Note 3 - Investments in Subsidi

Note 3 - Investments in Subsidiaries	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	3. In connection with its indirect investments in real estate assets acquired, the Company, through its ownership of the OP, indirectly holds a proportional ownership interest in the Portfolio, through the OP’s beneficial ownership of all of the issued and outstanding membership interests in the special purpose limited liability companies (“SPEs”) that directly or indirectly own the Portfolio. All of the properties in the Portfolio are consolidated in the Company’s consolidated financial statements. The assets of each entity can only be used to settle obligations of that particular entity, and the creditors of each entity have no As of December 31, 2021 thirteen December 31, 2021 may 6 VIE Name Homes Cost Basis OP Beneficial Ownership % Encumbered by Mortgage (1) Debt Allocated NREA VB I, LLC 66 $ 6,017 100 % Yes $ 5,048 NREA VB II, LLC 167 16,351 100 % Yes 10,742 NREA VB III, LLC 1,322 120,454 100 % Yes 71,115 NREA VB IV, LLC 386 37,160 100 % Yes 24,330 NREA VB V, LLC 1,829 125,922 100 % Yes 108,384 NREA VB VI, LLC 302 27,632 100 % Yes 18,661 NREA VB VII, LLC 36 3,045 100 % Yes 2,989 True FM2017-1, LLC 211 18,299 100 % Yes 10,387 SMP Homes 3B, LLC 160 16,806 100 % No — SMP Homes 5B, LLC 46 4,648 100 % Yes 2,338 VB One, LLC 6,622 662,829 100 % No 160,000 VB Two, LLC 1,853 162,137 100 % No 124,689 VB Three, LLC 3,891 525,729 100 % No 240,000 16,891 $ 1,727,029 $ 778,683 ( 1 Assets held, directly or indirectly, by VB One, LLC, VB Two, LLC and VB Three, LLC are not

Note 4 - Real Estate Assets

Note 4 - Real Estate Assets	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Real Estate Disclosure [Text Block]	4. As of December 31, 2021 December 31, 2020 Land Buildings and improvements (1) Intangible lease assets Real estate held for sale, net Total Gross Real Estate, December 31, 2020 $ 171,062 $ 582,610 $ 795 $ 675 $ 755,142 Additions 163,129 809,176 (2) 6,356 1,680 980,341 Write-offs — — (6,180 ) — (6,180 ) Dispositions — — — (2,274 ) (2,274 ) Gross Real Estate, December 31, 2021 334,191 1,391,786 971 81 1,727,029 Accumulated depreciation and amortization — (76,298 ) (491 ) — (76,789 ) Net Real Estate, December 31, 2021 $ 334,191 $ 1,315,488 $ 480 $ 81 $ 1,650,240 ( 1 ( 2 $4.9 During the years ended December 31, 2021 2020 2019 Acquisitions and dispositions During the year ended December 31, 2021 On January 22, 2021, On March 1, 2021, On April 22, 2021, On May 12, 2021, first two July 13, 2021, second Held for sale properties The Company periodically classifies real estate assets as held for sale when certain criteria are met, in accordance with GAAP. Once the Company begins marketing an asset or determines that it will pursue marketing an asset, the asset becomes classified as held for sale. At that time, the Company presents the net real estate assets separately in its consolidated balance sheet, and the Company ceases recording depreciation and amortization expense related to that property. Real estate held for sale is reported at the lower of its carrying amount or its estimated fair value less estimated costs to sell. As of December 31, 2021

Note 5 - Investment in Limited

Note 5 - Investment in Limited Partnership	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Investment Holdings [Text Block]	5. On November 22, 2021, seven February 24, 2021, no Investments in privately held entities that report NAV, such as our privately held investments in limited partnerships, are presented at fair value using NAV as a practical expedient, with changes in fair value recognized in net income. We use NAV reported by limited partnerships generally without adjustment, unless we are aware of information indicating that the NAV reported by a limited partnership does not December 31, 2021,

Note 6 - Debt

Note 6 - Debt	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	6. On November 1, 2018, 30 first 30 December 1, 2025. On September 20, 2019, November 3, 2021, November 3, 2024, one one December 9, 2021, $350.0 may one December 31, 2021 On September 30, 2019, 2017 1, 2017 1, February 1, 2028 On December 28, 2020, 3B, July 27, 2021, On December 28, 2020, 5B, 5B, 5B, January 9, 2023 On January 6, 2021, January 31, 2026. On March 1, 2021, one March 1, 2023. December 31, 2021 As of December 31, 2021 The weighted average interest rate of the Company’s debt was 2.3707% as of December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 one 320.0 7 The following table contains summary information concerning the Company’s debt as of December 31, 2021 December 31, 2020 Outstanding Principal as of Type December 31, 2021 December 31, 2020 Interest Rate (1) Initial Mortgage Floating $ 241,269 (2) $ 241,400 1.65 % Warehouse Facility Floating 160,000 85,000 1.80 % JPM Facility Floating 240,000 — 2.85 % MetLife Note Fixed 124,689 (3) — 3.25 % TrueLane Mortgage Fixed 10,387 10,570 5.35 % Colony Note Fixed — 9,296 6.06 % CoreVest Note Fixed 2,338 2,358 6.12 % NREO Note (4) Floating — 1,250 2.35 % $ 778,683 $ 349,874 Debt premium, net (5) 416 591 Deferred financing costs, net of accumulated amortization of $ 5,325 1,235 (10,554 ) (2,756 ) $ 768,545 $ 347,709 ( 1 Represents the interest rate as of December 31, 2021 one December 31, 2021 December 31, 2020 ( 2 During the year ended December 31, 2021 ( 3 During the year ended December 31, 2021 ( 4 This was a related party note which was extinguished during the year ended December 31, 2021 12 ( 5 The Company reflected valuation adjustments on its assumed fixed rate debt to adjust it to fair market value on the dates of acquisition for the difference between the fair value and the assumed principal amount of debt. The difference is amortized into interest expense over the remaining terms of the debt. Schedule of Debt Maturities The aggregate scheduled maturities, including amortizing principal payments, of total debt for the next five December 31, 2021 Total 2022 $ 951 2023 251,067 2024 8,371 2025 383,991 (1) 2026 124,910 Thereafter 9,393 Total $ 778,683 ( 1 Assumes the Company exercises the 12 Deferred Financing Costs The Company defers costs incurred in obtaining financing and amortizes the costs over the term of the related debt using the straight-line method, which approximates the effective interest method. Deferred financing costs, net of amortization, are recorded as a reduction from the related debt on the Company’s consolidated balance sheets. Upon repayment of, or in conjunction with, a material change in the terms of the underlying debt agreement, any unamortized costs are charged to loss on extinguishment of debt and modification costs and any prepayment penalty resulting from the early repayment of the debt is recorded as interest expense in the period incurred. For the years ended December 31, 2021 2020 2019

Note 7 - Fair Value of Derivati

Note 7 - Fair Value of Derivatives and Financial Instruments	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Derivatives and Fair Value [Text Block]	7. Fair value measurements are determined based on the assumptions that market participants would use in pricing an asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC 820 1 2 3 ● Level 1 ● Level 2 1 2 may ● Level 3 The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. The Company utilizes independent third Derivative Financial Instruments and Hedging Activities The Company manages interest rate risk primarily by managing the amount, sources, and duration of its debt funding and the use of derivative financial instruments. Specifically, the Company has entered into interest rate swaps to manage exposures that arise from changes in interest rates. The Company’s derivative financial instruments are used to manage the Company’s risk of increased cash outflows from the floating rate loans that may one The Company utilizes an independent third 820, 2 3 not December 31, 2021 December 31, 2020 2 The changes in the fair value of derivative financial instruments that are designated as cash flow hedges are recorded in other comprehensive income (loss) and are subsequently reclassified into net income (loss) in the period that the hedged forecasted transaction affects earnings. Amounts reported in other comprehensive income (loss) related to derivatives will be reclassified to interest expense as interest payments are made on the Company’s floating rate debt. Derivatives not not not 815, Derivatives and Hedging not not In order to fix a portion of, and mitigate the risk associated with, the Company’s floating rate indebtedness, the Company, through the OP, has entered into five one As of December 31, 2021 Effective Date Expiration Date Index (1) Notional Fixed Rate 7/1/2019 7/1/2024 One-Month LIBOR $ 100,000 1.6290 % 9/1/2019 12/21/2025 One-Month LIBOR 100,000 1.4180 % 9/1/2019 12/21/2025 One-Month LIBOR 50,000 1.4190 % 2/3/2020 2/1/2025 One-Month LIBOR 50,000 1.2790 % 3/2/2020 3/3/2025 One-Month LIBOR 20,000 0.9140 % $ 320,000 1.4309 % (2) ( 1 As of December 31, 2021 one ( 2 Represents the weighted average fixed rate of the interest rate swaps. For the years ended December 31, 2021 2020 2019 Interest rate caps involve the receipt of variable-rate amounts from a counterparty if interest rates rise above the strike rate on the contract in exchange for an up-front premium. On November 1, 2018, November 1, 2021, not may For years ended December 31, 2021 2020 2019 $0.1 The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the consolidated balance sheets as of December 31, 2021 December 31, 2020 Asset Derivatives Liability Derivatives Balance Sheet Location December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Derivatives designated as hedging instruments: Interest rate swaps Fair market value of interest rate swaps $ — $ — $ 3,590 $ 15,453 Total $ — $ — $ 3,590 $ 15,453 Financial assets and liabilities for which the carrying values approximate their fair values include cash, restricted cash, accounts receivable, accounts payable, and security deposits. Generally, these assets and liabilities are short‑term in duration and are recorded at fair value on the consolidated balance sheets. The Company believes the carrying value of each outstanding loan approximates fair value based on the nature, term and interest rate of each loan.

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. Equity The Company issues Shares under the Private Offering as well as under the Company’s distribution reinvestment program (the “DRIP”). Shares issued under the DRIP are issued at a 3% For the Year Ended Shares issued Proceeds DRIP reinvestment December 31, 2019 3,255,762 $ 91,497 $ 2,702 December 31, 2020 4,142,704 124,958 7,219 December 31, 2021 12,836,295 505,524 16,638 Total 20,234,761 $ 721,979 $ 26,559 The following table provides detail on cash dividends declared on Shares as well as reinvested dividends as part of the Company’s DRIP for the following years (dollars in thousands): For the Year Ended DRIP Shares Issued DRIP Dividend Cash Dividend Cash Dividend Accrued on RSUs (1) Total Dividend December 31, 2019 95,589 $ 2,702 $ 4,022 $ — $ 6,724 December 31, 2020 229,382 7,219 8,001 400 15,620 December 31, 2021 389,691 16,638 15,920 819 33,377 Total 714,662 $ 26,559 $ 27,943 $ 1,219 $ 55,721 ( 1 Included in accounts payable and other accrued liabilities on the consolidated balance sheets. Long-Term Incentive Plan The Company adopted the 2018 may 2018 may 2018 may RSU Grants Under the 2018 On December 10, 2019, May 11, 2020, February 15, 2021, four February 15, 2021 May 11, 2020 four first no one one As of December 31, 2021 Dates Number of RSUs Value (1) Outstanding December 31, 2019 73,700 $ 2,200 Granted 179,858 5,543 Vested (18,425 ) (550 ) Forfeited — — Outstanding December 31, 2020 235,133 $ 7,193 Granted 191,506 6,720 Vested (48,935 )(2) (1,508 ) Forfeited — — Outstanding December 31, 2021 377,704 $ 12,405 ( 1 Value is based on the number of RSUs granted multiplied by the most recent NAV per share on the date of grant, which was $36.56 for the February 15, 2021 May 11, 2020 December 10, 2019 ( 2 Certain grantees elected to net the taxes owed upon vesting against the Shares issued resulting in 45,067 Shares being issued as shown on the consolidated statements of stockholders' equity. The vesting schedule for the RSUs is as follows: Vest Date RSUs Vesting February 15, 2022 32,485 May 11, 2022 21,336 December 10, 2022 18,425 February 15, 2023 22,717 May 11, 2023 21,335 December 10, 2023 18,426 February 15, 2024 22,717 May 11, 2024 21,335 February 14, 2025 22,717 Upon successful completion of IPO 176,211 377,704 For the years ended December 31, 2021 2020 2019

Note 9 - Redeemable Noncontroll

Note 9 - Redeemable Noncontrolling Interests in the OP	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Noncontrolling Interest Disclosure [Text Block]	9. Other than PI Units and OP Preferred Units (defined below), partnership interests in the OP are represented by OP Units. Net income (loss) is allocated pro rata to holders of OP Units and PI Units based upon net income (loss) attributable to the OP and the respective members’ OP Units and PI Units held during the period. Capital contributions, distributions, and profits and losses are allocated to PI Units and OP Units not The following table presents the redeemable noncontrolling interests in the OP (in thousands): Balances Redeemable noncontrolling interests in the OP, December 31, 2020 $ 127,090 Net loss attributable to redeemable noncontrolling interests in the OP (144 ) Contributions by redeemable noncontrolling interests in the OP 6,559 Distributions to redeemable noncontrolling interests in the OP (8,509 ) Equity-based compensation 2,353 Other comprehensive income attributable to redeemable noncontrolling interests in the OP 2,504 Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP 66,509 Redeemable noncontrolling interests in the OP, December 31, 2021 $ 196,362 The following table provides detail on distributions to noncontrolling interests in the OP for the following years, including under the OP’s DRIP (dollars in thousands): Year Ended DRIP OP Units Issued OP DRIP Distribution OP Cash Distribution OP Distribution on PI Units Total OP Distribution December 31, 2019 121,054 $ 3,396 $ 2,861 $ 107 $ 6,364 December 31, 2020 124,339 3,872 3,014 647 7,533 December 31, 2021 39,262 1,633 5,935 941 8,509 Total 284,655 $ 8,901 $ 11,810 $ 1,695 $ 22,406 As of December 31, 2021 On September 7, 2021, no not The Partnership Board of the OP has exclusive authority to select, remove and replace the general partner of the OP and no may one may Upon execution of the OP LPA, the Company reconsidered whether it was still the primary beneficiary of the OP. Upon reconsideration, the Company determined that it is the member of the related party group most closely associated with the OP and has the power to direct the activities that are most significant to the OP as any actions taken by the OP GP are subject to the authority and approval of the Company’s Board. Accordingly, the Company determined that it should continue to consolidate the OP. PI Unit Grants Under the 2018 In connection with the 2018 April 19, 2019, November 21, 2019, May 11, 2020, November 30, 2020, May 31, 2021, 2019 two four May 11, 2020 May 31, 2021 four November 30, 2020 four one no third As of December 31, 2021 Dates Number of PI Units Value (1) Outstanding December 31, 2019 120,399 $ 3,456 Granted 231,590 7,023 Vested (41,524 ) (1,189 ) Forfeited — — Outstanding December 31, 2020 310,465 $ 9,290 Granted 246,169 9,426 Vested (58,044 ) (1,751 ) Forfeited — — Outstanding December 31, 2021 498,590 $ 16,965 ( 1 Value is based on the number of PI Units granted multiplied by the estimated per unit fair value on the date of grant, which was $27.88 for the April 19, 2019 November 21, 2019 May 11, 2020 November 30, 2020 May 31, 2021 The vesting schedule for the PI Units is as follows: Vest Date PI Units Vesting May 11, 2022 27,479 May 31, 2022 30,771 November 1, 2022 7,200 November 21, 2022 18,425 November 30, 2022 2,941 March 30, 2023 30,771 May 11, 2023 27,478 November 1, 2023 7,200 November 21, 2023 18,425 November 30, 2023 2,941 March 30, 2024 30,771 May 11, 2024 27,478 November 30, 2024 2,941 March 30, 2025 30,771 Upon successful completion of IPO* 232,998 498,590 *Upon successful completion of an IPO, an additional 11,764 PI Units will vest immediately instead of vesting ratably according to the schedule above on each of November 30, 2021, November 30, 2022, November 30, 2023 November 30, 2024. For the years ended December 31, 2021 2020 2019 The table below presents the consolidated Shares and OP Units outstanding held by the noncontrolling interests (“NCI”), as the OP Units held by the Company are eliminated in consolidation: Year End Shares Outstanding OP Units Held by NCI Consolidated Shares and NCI OP Units Outstanding December 31, 2019 5,162,532 3,071,704 8,234,236 December 31, 2020 9,260,795 3,476,216 12,737,011 December 31, 2021 21,814,248 3,626,936 25,441,184

Note 10 - Redeemable Series A P

Note 10 - Redeemable Series A Preferred Stock	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Preferred Stock [Text Block]	10. On January 8, 2021, October 7, 2027, March 15, 2021, March 25, 2021 April 12, 2021 June 10, 2021, June 25, 2021 July 12, 2021 September 10, 2021, $0.40625 September 25, 2021 October 12, 2021 November 3, 2021, $0.40625 November 15, 2021 January 12, 2022 Preferred Shares Balances Redeemable Series A preferred stock, December 31, 2020 3,540,000 $ 85,067 Issuance of Redeemable Series A preferred stock 1,460,000 36,547 Issuance costs related to Redeemable Series A preferred stock — (1,430 ) Net income attributable to Redeemable Series A preferred stockholders — 8,125 Dividends declared to Redeemable Series A preferred stockholders — (8,125 ) Accretion to redemption value — 712 Redeemable Series A preferred stock, December 31, 2021 5,000,000 $ 120,896

Note 11 - Income Taxes

Note 11 - Income Taxes	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11. The Company has made the election and intends to be taxed as a REIT under Sections 856 860 90% 4% 1 85% 2 95% 3 100% no no December 31, 2021, not December 31, 2020 2019. If the Company fails to meet these requirements, it could be subject to U.S. federal income tax on all of the Company’s taxable income at regular corporate rates for that year. The Company would not four December 31, 2021 not The Company evaluates the accounting and disclosure of tax positions taken or expected to be taken in the course of preparing the Company’s tax returns to determine whether the tax positions are “more-likely-than- not” 50 not not no none 2020, 2019 2018. The Company had no December 31, 2021

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12. Advisory Fee Pursuant to the Advisory Agreement, the Company will pay the Adviser, on a monthly basis in arrears, an advisory fee at an annualized rate of 0.75% of the gross asset value of the Company on a consolidated basis (excluding the value of the OP’s assets but inclusive of the Company’s pro rata share of the debt held at the OP and its SPEs). The Adviser will manage the Company’s business including, among other duties, advising the Board to issue distributions, preparing our quarterly and annual consolidated financial statements prepared under GAAP, development and maintenance of internal accounting controls, management and conduct of maintaining our REIT status, calculation of our NAV and recommending the appropriate NAV to be set by the Board, processing of sales of Shares through the Private Offering, reporting to holders of Shares, our tax filings, and other responsibilities customary for an external advisor to a business similar to ours. With certain specified exceptions, the advisory fee together with reimbursement of operating and offering expenses may not For the years ended December 31, 2021 2020 2019 Management Fee The equity holders of the Manager are holders of noncontrolling interests in the OP and comprise a portion of the VineBrook Contributors. Through this noncontrolling ownership, the Manager is deemed to be a related party. Pursuant to the Management Agreements, the OP will pay the Manager (i) an acquisition fee equal to 1.0% of the purchase price paid for any new property acquired during the month, (ii) a construction fee monthly in arrears that shall not ● 8.0% of collected rental revenue up to and including $45 ● 7.0% of the incremental collected rental revenue above $45 $65 ● 6.0% of the incremental collected rental revenue above $65 $85 ● 5.0% of the incremental collected rental revenue above $85 Under the Management Agreements and the Side Letter, the aggregate fees that the Manager can earn in any fiscal year are capped such that the Manager’s EBITDA (as defined in the Management Agreements) derived from these fees may not first 1 2 December 31, 2021 December 31, 2020 The Manager is responsible for the day-to-day management of the properties, acquisition of new properties, disposition of existing properties (with acquisition and disposition decisions made under the approval of the investment committee and the Board), leasing the properties, managing tenant issues and requests, collecting rents, paying operating expenses, managing maintenance issues, accounting for each property using GAAP, and other responsibilities customary for the management of SFR properties. Property management fees are included in property management fees on the consolidated statements of operations and comprehensive income (loss) and acquisition and construction fees are capitalized into each home and are included in buildings and improvements on the consolidated balance sheet and are depreciated over the useful life of each property. The following table is a summary of fees that the OP incurred to the Manager and its affiliates, as well as reimbursements paid to the Manager and its affiliates for various operating expenses the Manager paid on the OP’s behalf, of which approximately $4.2 million and $0.6 million is due to the Manager and included in accounts payable and other accrued liabilities on the consolidated balance sheets as of December 31, 2021 2020, December 31, 2021 2020 2019 For the Year Ended December 31, Location on Financial Statements 2021 2020 2019 Fees Incurred Property management fees Statement of Operations $ 7,115 $ 4,478 $ 3,190 Acquisition fees Balance Sheet 9,216 1,771 1,718 Construction supervision fees Balance Sheet 6,739 4,194 2,081 Reimbursements Payroll and benefits Balance Sheet and Statement of Operations 15,462 8,501 4,179 Other reimbursements Balance Sheet and Statement of Operations 855 414 322 Totals $ 39,387 $ 19,358 $ 11,490 Internalization of the Adviser or the Manager The Company may first 12 three 12 may not Termination Fees Payable to the Adviser or Manager If the Advisory Agreement or any one three 12 three 12 may may Advance Acquisition and Construction Fee Advances Paid to the Manager Pursuant to the Side Letter, the Manager may December 31, 2021 December 31, 2020 no Backstop Loans to the Manager Pursuant to the Side Letter, in the event the Manager does not may may may not December 31, 2021 December 31, 2020 Dealer Manager Fees Investors may may Organization and Private Offering Expenses Offering and organizational expenses (“O&O Expenses”) may See below for detail related to the O&O Expenses as of December 31, 2021 Amount Gross investor equity raised subject to O&O $ 823,773 O&O collected and available for reimbursements $ 5,559 O&O Expenses reimbursed for the period: Inception through December 31, 2019 $ 686 January 1, 2020 through March 31, 2020 188 April 1, 2020 through June 30, 2020 235 July 1, 2020 through September 30, 2020 175 October 1, 2020 through December 31, 2020 385 January 1, 2020 through March 31, 2021 296 April 1, 2021 through June 30, 2021 944 July 1, 2021 through September 30, 2021 1,264 October 1, 2021 through December 31, 2021 1,198 $ 5,371 O&O available for future reimbursements $ 188 NexBank The Company and the OP maintain bank accounts with an affiliate of the Adviser, NexBank N.A. (“NexBank”). NexBank charges no NREO Note On August 22, 2019, January 26, 2021.

Note 13 - Commitments and Conti

Note 13 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	13. Commitments In the normal course of business, the Company enters into various construction related purchase commitments with parties that provide these goods and services. In the event the Company were to terminate construction services prior to the completion of projects, the Company could potentially be committed to satisfy outstanding or uncompleted purchase orders with such parties. As of December 31, 2021 not Contingencies In the normal course of business, the Company is subject to claims, lawsuits, and legal proceedings. While it is not not not The Company is not no not An entity purchased by the OP as a part of the Formation Transaction, the Huber Transaction Sub, LLC (“Huber”), had potential liability exposure to a legacy environmental issue related to a 1988 not January 27, 2021,

Note 14 - Subsequent Events

Note 14 - Subsequent Events	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	14. The Company evaluated subsequent events through the date the consolidated financial statements were issued, to determine if any significant events occurred subsequent to the balance sheet date that would have a material impact on these consolidated financial statements and determined the following events were material: Prager Portfolio Acquisition On February 8, 2022, December 31, 2021. Market State # of Homes Occupancy Average Effective Rent Memphis TN, MS 741 77.2 % $ 1,082 Atlanta GA 739 91.2 % 1,482 Saint Louis MO 308 68.2 % 1,060 Pensacola FL 300 97.7 % 1,287 Raeford NC 250 95.6 % 1,105 Kansas City MO 230 87.4 % 1,090 Portales NM 150 84.7 % 1,070 Augusta/Aiken GA, SC 67 85.1 % 962 Jacksonville FL 53 98.1 % 1,043 Total/Average 2,838 85.4 % $ 1,215 Other Acquisitions In addition to the Prager Acquisitions, subsequent to December 31, 2021 December 31, 2021 First Quarter 2022 On January 25, 2022 January 25, 2022. February 14, 2022, February 15, 2022 March 31, 2022 Equity Issuances Pursuant to the Private Offering Subsequent to December 31, 2021 1,498,743 $79.0 December 31, 2021 NAV Determination Pursuant to the terms of the Private Offering and calculated in accordance with the Valuation Methodology, on January 20, 2022, December 31, 2021 $54.14.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2021
Notes to Financial Statements
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Text Block]	SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2021 (dollars in thousands) Initial Cost to Company Gross Cost Basis as of December 31, 2021 (1) Market Number of Homes Gross Cost Basis Encumbered Land Buildings and Improvements (2) Costs Capitalized Subsequent to Acquisition Land Buildings and Improvements (2) Total Accumulated Depreciation and Amortization Net Cost Basis Dates of Acquisition Operating homes Cincinnati 3,031 $ 278,451 $ 74,313 $ 200,979 $ 34,066 $ 74,313 $ 235,045 $ 309,358 $ (20,319 ) $ 289,039 2018 2021 Dayton 2,742 190,323 49,325 145,746 22,677 49,325 168,423 217,748 (15,986 ) 201,762 2018 2021 Columbus 1,499 138,479 35,969 92,683 23,020 35,969 115,703 151,672 (10,873 ) 140,799 2018 2021 St. Louis 1,696 105,378 26,172 110,486 23,831 26,172 134,317 160,489 (5,222 ) 155,267 2019 2021 Indianapolis 1,308 121,679 21,526 113,716 13,439 21,526 127,155 148,681 (5,615 ) 143,066 2018 2021 Birmingham 814 98,879 17,610 84,585 2,551 17,610 87,136 104,746 (2,922 ) 101,824 2021 Columbia 784 93,815 17,388 83,983 2,221 17,388 86,204 103,592 (2,782 ) 100,810 2021 Kansas City 742 76,830 12,316 58,373 14,098 12,316 72,471 84,787 (2,534 ) 82,253 2019 2021 Jackson 789 48,522 18,853 49,752 8,702 18,853 58,454 77,307 (1,413 ) 75,894 2019 2021 Memphis 626 42,905 8,364 32,088 15,137 8,364 47,225 55,589 (2,351 ) 53,238 2019 2021 Augusta 555 48,387 12,600 47,895 2,296 12,600 50,191 62,791 (1,324 ) 61,467 2021 Milwaukee 655 45,270 9,355 48,976 11,611 9,355 60,587 69,942 (1,473 ) 68,469 2019 2021 Pittsburgh 401 25,470 7,898 22,550 4,759 7,898 27,309 35,207 (1,007 ) 34,200 2019 2021 Greenville 253 27,702 4,998 28,591 1,159 4,998 29,750 34,748 (872 ) 33,876 2021 Little Rock 286 10,584 4,704 16,169 3,036 4,704 19,205 23,909 (389 ) 23,520 2019 2021 Huntsville 180 17,865 3,631 18,707 977 3,631 19,684 23,315 (485 ) 22,830 2021 Omaha 206 8,681 2,235 18,673 2,593 2,235 21,266 23,501 (554 ) 22,947 2019 2021 Triad 161 13,491 3,894 16,310 1,432 3,894 17,742 21,636 (418 ) 21,218 2021 Montgomery 161 9,555 3,040 13,353 1,537 3,040 14,890 17,930 (250 ) 17,680 2021 Total operating homes 16,889 1,402,266 334,191 1,203,615 189,142 334,191 1,392,757 1,726,948 (76,789 ) 1,650,159 Homes held for sale 2 — 13 68 — 13 68 81 — 81 2018 Total homes 16,891 $ 1,402,266 $ 334,204 $ 1,203,683 $ 189,142 $ 334,204 $ 1,392,825 $ 1,727,029 $ (76,789 ) $ 1,650,240 ( 1 The unaudited aggregate cost of consolidated real estate in the table above for federal income tax purposes was approximately $1.7 billion as of December 31, 2021. ( 2 Balances include intangible lease assets. VINEBROOK HOMES TRUST, INC. AND SUBSIDIARIES SCHEDULE III REAL ESTATE AND ACCUMULATED DEPRECIATION December 31, 2021 (dollars in thousands) For the Year Ended December 31, 2021 2020 2019 Gross operating real estate: Balance, beginning of year $ 754,467 $ 521,084 $ 335,306 Acquisitions and building improvements 978,661 234,825 189,495 Write-offs (6,180 ) (1,442 ) (3,717 ) Balance, end of year $ 1,726,948 $ 754,467 $ 521,084 Accumulated depreciation and amortization: Balance, beginning of year $ 34,396 $ 15,391 $ 3,027 Depreciation expense (1) 42,312 19,304 12,999 Amortization expense 6,261 1,143 3,082 Write-offs (6,180 ) (1,442 ) (3,717 ) Balance, end of year $ 76,789 $ 34,396 $ 15,391 ( 1 Depreciation of buildings and improvements is computed on a straight-line basis over estimated useful lives ranging from 3 to 27.5 years.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Accounting and Use of Estimates The accompanying consolidated financial statements are presented in accordance with GAAP and the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent liabilities at the dates of the consolidated financial statements and the amounts of revenues and expenses during the reporting periods. Actual amounts realized or paid could differ from those estimates. There have been no December 31, 2021 December 31, 2021 December 31, 2020 December 31, 2021 2020 2019
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The Company accounts for subsidiary partnerships, limited liability companies, joint ventures and other similar entities in which it holds an ownership interest in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 810, Consolidation first not December 31, 2021 not
Real Estate, Policy [Policy Text Block]	Real Estate Investments Upon acquisition, we evaluate our acquired SFR properties for purposes of determining whether a transaction should be accounted for as an asset acquisition or business combination. Since substantially all of the fair value of our acquired properties is concentrated in a single identifiable asset or group of similar identifiable assets and the acquisitions do not The allocation of Total Consideration, which is determined using inputs that are classified within Level 3 820, Fair Value Measurement 820” 7 third one one 2 Real estate assets, including land, buildings, improvements, fixtures, and intangible lease assets are stated at historical cost less accumulated depreciation and amortization. Costs incurred in making repairs and maintaining real estate assets are expensed as incurred. Expenditures for improvements, renovations, and replacements are capitalized at cost. The Company also incurs indirect costs to prepare acquired properties for rental. These 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, real estate taxes, insurance, utilities and other indirect costs as costs 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 the costs have been incurred. Upon completion of the renovation of our properties, all costs of operations, including repairs and maintenance, are expensed as incurred, unless the renovation meets the Company’s capitalization criteria. Real estate-related depreciation and amortization are computed on a straight-line basis over the estimated useful lives as described in the following table: Land Not depreciated Buildings 27.5 Improvements and other assets 3 15 Intangible lease assets 6 As of December 31, 2021 December 31, 2020 December 31, 2021 2020 2019 Real estate assets are reviewed for impairment quarterly or whenever events or changes in circumstances indicate that the carrying amount of an asset may not may not December 31, 2021 2020 2019
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and restricted cash The Company maintains cash at multiple financial institutions and, at times, these balances exceed federally insurable limits. As a result, there is a concentration of credit risk related to amounts on deposit. We believe any risks are mitigated through the size of the financial institutions at which our cash balances are held. Restricted cash represents cash deposited in accounts related to security deposits, property taxes, insurance premiums and deductibles and other lender-required escrows. Amounts deposited in the reserve accounts associated with the loans can only be used as provided for in the respective loan agreements, and security deposits held pursuant to lease agreements are required to be segregated. The following table provides a reconciliation of cash and restricted cash reported on the consolidated balance sheets that sum to the total of such amount shown in the consolidated statements of cash flows (in thousands): December 31, 2021 December 31, 2020 December 31, 2019 Cash $ 54,104 $ 31,225 $ 11,896 Restricted cash 20,893 5,871 5,934 Total cash and restricted cash $ 74,997 $ 37,096 $ 17,830
Revenue [Policy Text Block]	Revenue Recognition The Company’s primary operations consist of rental income earned from its residents under lease agreements typically with terms of one 842, Leases January 1, 2019, not December 31, 2021, 2020 2019, Gains or losses on sales of properties are recognized pursuant to the provisions included in ASC 610 20, Other Income 610 20 In April 2020, 19 842. may not 19, not not not 19
Stockholders' Equity Note, Redeemable Preferred Stock, Issue, Policy [Policy Text Block]	Redeemable Securities Included in the Company’s consolidated balance sheets are redeemable noncontrolling interests in the OP and 6.50% Series A Cumulative Redeemable Preferred Stock (the “Preferred Shares”). These interests are presented in the “mezzanine” section of the consolidated balance sheets because they do not 480 10 S99 3A, 15 In accordance with ASC Topic 480 10 S99, 480 10 S99,
Earnings Per Share, Policy [Policy Text Block]	Earnings (Loss) Per Share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted average number of shares of the Company’s common stock outstanding, which excludes any unvested RSUs issued pursuant to the 2018 not For the Year Ended December 31, 2021 2020 2019 Numerator for loss per share: Net income/(loss) $ 61 $ (1,665 ) $ (1,642 ) Less: Dividends on and accretion to redemption value of Redeemable Series A preferred stock 8,837 1,052 — Net loss attributable to redeemable noncontrolling interests in the OP (144 ) (570 ) (967 ) Net loss attributable to common stockholders $ (8,632 ) $ (2,147 ) $ (675 ) Denominator for earnings (loss) per share: Weighted average common shares outstanding - basic 15,366 7,175 3,221 Weighted average unvested RSUs, PI Units, and OP Units (1) — — — Weighted average common shares outstanding - diluted 15,366 7,175 3,221 Earnings (loss) per weighted average common share: Basic $ (0.56 ) $ (0.30 ) $ (0.21 ) Diluted $ (0.56 ) $ (0.30 ) $ (0.21 ) ( 1 For the years ended December 31, 2021 2020 2019
Segment Reporting, Policy [Policy Text Block]	Segment Reporting Under the provision of ASC 280, Segment Reporting two 10% December 31, 2021
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements In March 2020, 2020 04, Reference Rate Reform 848 2020 04” 2020 04 2020 04 may
COVID-19 Pandemic [Policy Text Block]	COVID- 19 The COVID- 19 not December 31, 2021 19
Reclassification, Comparability Adjustment [Policy Text Block]	Reclassifications As of December 31, 2020,

Note 2 - Summary of Significa_2

Note 2 - Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Estimated Useful Lives of Real Estate [Table Text Block]	Land Not depreciated Buildings 27.5 Improvements and other assets 3 15 Intangible lease assets 6
Schedule of Cash and Cash Equivalents [Table Text Block]	December 31, 2021 December 31, 2020 December 31, 2019 Cash $ 54,104 $ 31,225 $ 11,896 Restricted cash 20,893 5,871 5,934 Total cash and restricted cash $ 74,997 $ 37,096 $ 17,830
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Year Ended December 31, 2021 2020 2019 Numerator for loss per share: Net income/(loss) $ 61 $ (1,665 ) $ (1,642 ) Less: Dividends on and accretion to redemption value of Redeemable Series A preferred stock 8,837 1,052 — Net loss attributable to redeemable noncontrolling interests in the OP (144 ) (570 ) (967 ) Net loss attributable to common stockholders $ (8,632 ) $ (2,147 ) $ (675 ) Denominator for earnings (loss) per share: Weighted average common shares outstanding - basic 15,366 7,175 3,221 Weighted average unvested RSUs, PI Units, and OP Units (1) — — — Weighted average common shares outstanding - diluted 15,366 7,175 3,221 Earnings (loss) per weighted average common share: Basic $ (0.56 ) $ (0.30 ) $ (0.21 ) Diluted $ (0.56 ) $ (0.30 ) $ (0.21 )

Note 3 - Investments in Subsi_2

Note 3 - Investments in Subsidiaries (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Investments in and Advances to Affiliates, Schedule of Investments [Table Text Block]	VIE Name Homes Cost Basis OP Beneficial Ownership % Encumbered by Mortgage (1) Debt Allocated NREA VB I, LLC 66 $ 6,017 100 % Yes $ 5,048 NREA VB II, LLC 167 16,351 100 % Yes 10,742 NREA VB III, LLC 1,322 120,454 100 % Yes 71,115 NREA VB IV, LLC 386 37,160 100 % Yes 24,330 NREA VB V, LLC 1,829 125,922 100 % Yes 108,384 NREA VB VI, LLC 302 27,632 100 % Yes 18,661 NREA VB VII, LLC 36 3,045 100 % Yes 2,989 True FM2017-1, LLC 211 18,299 100 % Yes 10,387 SMP Homes 3B, LLC 160 16,806 100 % No — SMP Homes 5B, LLC 46 4,648 100 % Yes 2,338 VB One, LLC 6,622 662,829 100 % No 160,000 VB Two, LLC 1,853 162,137 100 % No 124,689 VB Three, LLC 3,891 525,729 100 % No 240,000 16,891 $ 1,727,029 $ 778,683

Note 4 - Real Estate Assets (Ta

Note 4 - Real Estate Assets (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Land Buildings and improvements (1) Intangible lease assets Real estate held for sale, net Total Gross Real Estate, December 31, 2020 $ 171,062 $ 582,610 $ 795 $ 675 $ 755,142 Additions 163,129 809,176 (2) 6,356 1,680 980,341 Write-offs — — (6,180 ) — (6,180 ) Dispositions — — — (2,274 ) (2,274 ) Gross Real Estate, December 31, 2021 334,191 1,391,786 971 81 1,727,029 Accumulated depreciation and amortization — (76,298 ) (491 ) — (76,789 ) Net Real Estate, December 31, 2021 $ 334,191 $ 1,315,488 $ 480 $ 81 $ 1,650,240

Note 6 - Debt (Tables)

Note 6 - Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Debt [Table Text Block]	Outstanding Principal as of Type December 31, 2021 December 31, 2020 Interest Rate (1) Initial Mortgage Floating $ 241,269 (2) $ 241,400 1.65 % Warehouse Facility Floating 160,000 85,000 1.80 % JPM Facility Floating 240,000 — 2.85 % MetLife Note Fixed 124,689 (3) — 3.25 % TrueLane Mortgage Fixed 10,387 10,570 5.35 % Colony Note Fixed — 9,296 6.06 % CoreVest Note Fixed 2,338 2,358 6.12 % NREO Note (4) Floating — 1,250 2.35 % $ 778,683 $ 349,874 Debt premium, net (5) 416 591 Deferred financing costs, net of accumulated amortization of $ 5,325 1,235 (10,554 ) (2,756 ) $ 768,545 $ 347,709
Schedule of Maturities of Long-term Debt [Table Text Block]	Total 2022 $ 951 2023 251,067 2024 8,371 2025 383,991 (1) 2026 124,910 Thereafter 9,393 Total $ 778,683

Note 7 - Fair Value of Deriva_2

Note 7 - Fair Value of Derivatives and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Interest Rate Derivatives [Table Text Block]	Effective Date Expiration Date Index (1) Notional Fixed Rate 7/1/2019 7/1/2024 One-Month LIBOR $ 100,000 1.6290 % 9/1/2019 12/21/2025 One-Month LIBOR 100,000 1.4180 % 9/1/2019 12/21/2025 One-Month LIBOR 50,000 1.4190 % 2/3/2020 2/1/2025 One-Month LIBOR 50,000 1.2790 % 3/2/2020 3/3/2025 One-Month LIBOR 20,000 0.9140 % $ 320,000 1.4309 % (2)
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location [Table Text Block]	Asset Derivatives Liability Derivatives Balance Sheet Location December 31, 2021 December 31, 2020 December 31, 2021 December 31, 2020 Derivatives designated as hedging instruments: Interest rate swaps Fair market value of interest rate swaps $ — $ — $ 3,590 $ 15,453 Total $ — $ — $ 3,590 $ 15,453

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Common Stock Outstanding Roll Forward [Table Text Block]	For the Year Ended Shares issued Proceeds DRIP reinvestment December 31, 2019 3,255,762 $ 91,497 $ 2,702 December 31, 2020 4,142,704 124,958 7,219 December 31, 2021 12,836,295 505,524 16,638 Total 20,234,761 $ 721,979 $ 26,559
Dividends Declared [Table Text Block]	For the Year Ended DRIP Shares Issued DRIP Dividend Cash Dividend Cash Dividend Accrued on RSUs (1) Total Dividend December 31, 2019 95,589 $ 2,702 $ 4,022 $ — $ 6,724 December 31, 2020 229,382 7,219 8,001 400 15,620 December 31, 2021 389,691 16,638 15,920 819 33,377 Total 714,662 $ 26,559 $ 27,943 $ 1,219 $ 55,721
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]	Dates Number of RSUs Value (1) Outstanding December 31, 2019 73,700 $ 2,200 Granted 179,858 5,543 Vested (18,425 ) (550 ) Forfeited — — Outstanding December 31, 2020 235,133 $ 7,193 Granted 191,506 6,720 Vested (48,935 )(2) (1,508 ) Forfeited — — Outstanding December 31, 2021 377,704 $ 12,405
Share-based Compensation Arrangements by Share-based Payment Award, Restricted Stock Units, Vested and Expected to Vest [Table Text Block]	Vest Date RSUs Vesting February 15, 2022 32,485 May 11, 2022 21,336 December 10, 2022 18,425 February 15, 2023 22,717 May 11, 2023 21,335 December 10, 2023 18,426 February 15, 2024 22,717 May 11, 2024 21,335 February 14, 2025 22,717 Upon successful completion of IPO 176,211 377,704

Note 9 - Redeemable Noncontro_2

Note 9 - Redeemable Noncontrolling Interests in the OP (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Redeemable Noncontrolling Interest [Table Text Block]	Balances Redeemable noncontrolling interests in the OP, December 31, 2020 $ 127,090 Net loss attributable to redeemable noncontrolling interests in the OP (144 ) Contributions by redeemable noncontrolling interests in the OP 6,559 Distributions to redeemable noncontrolling interests in the OP (8,509 ) Equity-based compensation 2,353 Other comprehensive income attributable to redeemable noncontrolling interests in the OP 2,504 Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP 66,509 Redeemable noncontrolling interests in the OP, December 31, 2021 $ 196,362
Distributions Made to Limited Partner, by Distribution [Table Text Block]	Year Ended DRIP OP Units Issued OP DRIP Distribution OP Cash Distribution OP Distribution on PI Units Total OP Distribution December 31, 2019 121,054 $ 3,396 $ 2,861 $ 107 $ 6,364 December 31, 2020 124,339 3,872 3,014 647 7,533 December 31, 2021 39,262 1,633 5,935 941 8,509 Total 284,655 $ 8,901 $ 11,810 $ 1,695 $ 22,406
Share-based Payment Arrangement, Activity [Table Text Block]	Dates Number of PI Units Value (1) Outstanding December 31, 2019 120,399 $ 3,456 Granted 231,590 7,023 Vested (41,524 ) (1,189 ) Forfeited — — Outstanding December 31, 2020 310,465 $ 9,290 Granted 246,169 9,426 Vested (58,044 ) (1,751 ) Forfeited — — Outstanding December 31, 2021 498,590 $ 16,965
Share-based Compensation Arrangements by Share-based Payment Award, PI Units, Vested and Expected to Vest [Table Text Block]	Vest Date PI Units Vesting May 11, 2022 27,479 May 31, 2022 30,771 November 1, 2022 7,200 November 21, 2022 18,425 November 30, 2022 2,941 March 30, 2023 30,771 May 11, 2023 27,478 November 1, 2023 7,200 November 21, 2023 18,425 November 30, 2023 2,941 March 30, 2024 30,771 May 11, 2024 27,478 November 30, 2024 2,941 March 30, 2025 30,771 Upon successful completion of IPO* 232,998 498,590
Schedule of Limited Partners' Capital Account by Class [Table Text Block]	Year End Shares Outstanding OP Units Held by NCI Consolidated Shares and NCI OP Units Outstanding December 31, 2019 5,162,532 3,071,704 8,234,236 December 31, 2020 9,260,795 3,476,216 12,737,011 December 31, 2021 21,814,248 3,626,936 25,441,184

Note 10 - Redeemable Series A_2

Note 10 - Redeemable Series A Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Temporary Equity [Table Text Block]	Preferred Shares Balances Redeemable Series A preferred stock, December 31, 2020 3,540,000 $ 85,067 Issuance of Redeemable Series A preferred stock 1,460,000 36,547 Issuance costs related to Redeemable Series A preferred stock — (1,430 ) Net income attributable to Redeemable Series A preferred stockholders — 8,125 Dividends declared to Redeemable Series A preferred stockholders — (8,125 ) Accretion to redemption value — 712 Redeemable Series A preferred stock, December 31, 2021 5,000,000 $ 120,896

Note 12 - Related Party Trans_2

Note 12 - Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	For the Year Ended December 31, Location on Financial Statements 2021 2020 2019 Fees Incurred Property management fees Statement of Operations $ 7,115 $ 4,478 $ 3,190 Acquisition fees Balance Sheet 9,216 1,771 1,718 Construction supervision fees Balance Sheet 6,739 4,194 2,081 Reimbursements Payroll and benefits Balance Sheet and Statement of Operations 15,462 8,501 4,179 Other reimbursements Balance Sheet and Statement of Operations 855 414 322 Totals $ 39,387 $ 19,358 $ 11,490 Amount Gross investor equity raised subject to O&O $ 823,773 O&O collected and available for reimbursements $ 5,559 O&O Expenses reimbursed for the period: Inception through December 31, 2019 $ 686 January 1, 2020 through March 31, 2020 188 April 1, 2020 through June 30, 2020 235 July 1, 2020 through September 30, 2020 175 October 1, 2020 through December 31, 2020 385 January 1, 2020 through March 31, 2021 296 April 1, 2021 through June 30, 2021 944 July 1, 2021 through September 30, 2021 1,264 October 1, 2021 through December 31, 2021 1,198 $ 5,371 O&O available for future reimbursements $ 188

Note 14 - Subsequent Events (Ta

Note 14 - Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Land Buildings and improvements (1) Intangible lease assets Real estate held for sale, net Total Gross Real Estate, December 31, 2020 $ 171,062 $ 582,610 $ 795 $ 675 $ 755,142 Additions 163,129 809,176 (2) 6,356 1,680 980,341 Write-offs — — (6,180 ) — (6,180 ) Dispositions — — — (2,274 ) (2,274 ) Gross Real Estate, December 31, 2021 334,191 1,391,786 971 81 1,727,029 Accumulated depreciation and amortization — (76,298 ) (491 ) — (76,789 ) Net Real Estate, December 31, 2021 $ 334,191 $ 1,315,488 $ 480 $ 81 $ 1,650,240
Prager Portfolio [Member]
Notes Tables
Schedule of Real Estate Properties [Table Text Block]	Market State # of Homes Occupancy Average Effective Rent Memphis TN, MS 741 77.2 % $ 1,082 Atlanta GA 739 91.2 % 1,482 Saint Louis MO 308 68.2 % 1,060 Pensacola FL 300 97.7 % 1,287 Raeford NC 250 95.6 % 1,105 Kansas City MO 230 87.4 % 1,090 Portales NM 150 84.7 % 1,070 Augusta/Aiken GA, SC 67 85.1 % 962 Jacksonville FL 53 98.1 % 1,043 Total/Average 2,838 85.4 % $ 1,215

Schedule III - Real Estate an_2

Schedule III - Real Estate and Accumulated Depreciation (Tables)	12 Months Ended
	Dec. 31, 2021
Notes Tables
Schedule III Schedule of Real Estate Properties [Table Text Block]	Initial Cost to Company Gross Cost Basis as of December 31, 2021 (1) Market Number of Homes Gross Cost Basis Encumbered Land Buildings and Improvements (2) Costs Capitalized Subsequent to Acquisition Land Buildings and Improvements (2) Total Accumulated Depreciation and Amortization Net Cost Basis Dates of Acquisition Operating homes Cincinnati 3,031 $ 278,451 $ 74,313 $ 200,979 $ 34,066 $ 74,313 $ 235,045 $ 309,358 $ (20,319 ) $ 289,039 2018 2021 Dayton 2,742 190,323 49,325 145,746 22,677 49,325 168,423 217,748 (15,986 ) 201,762 2018 2021 Columbus 1,499 138,479 35,969 92,683 23,020 35,969 115,703 151,672 (10,873 ) 140,799 2018 2021 St. Louis 1,696 105,378 26,172 110,486 23,831 26,172 134,317 160,489 (5,222 ) 155,267 2019 2021 Indianapolis 1,308 121,679 21,526 113,716 13,439 21,526 127,155 148,681 (5,615 ) 143,066 2018 2021 Birmingham 814 98,879 17,610 84,585 2,551 17,610 87,136 104,746 (2,922 ) 101,824 2021 Columbia 784 93,815 17,388 83,983 2,221 17,388 86,204 103,592 (2,782 ) 100,810 2021 Kansas City 742 76,830 12,316 58,373 14,098 12,316 72,471 84,787 (2,534 ) 82,253 2019 2021 Jackson 789 48,522 18,853 49,752 8,702 18,853 58,454 77,307 (1,413 ) 75,894 2019 2021 Memphis 626 42,905 8,364 32,088 15,137 8,364 47,225 55,589 (2,351 ) 53,238 2019 2021 Augusta 555 48,387 12,600 47,895 2,296 12,600 50,191 62,791 (1,324 ) 61,467 2021 Milwaukee 655 45,270 9,355 48,976 11,611 9,355 60,587 69,942 (1,473 ) 68,469 2019 2021 Pittsburgh 401 25,470 7,898 22,550 4,759 7,898 27,309 35,207 (1,007 ) 34,200 2019 2021 Greenville 253 27,702 4,998 28,591 1,159 4,998 29,750 34,748 (872 ) 33,876 2021 Little Rock 286 10,584 4,704 16,169 3,036 4,704 19,205 23,909 (389 ) 23,520 2019 2021 Huntsville 180 17,865 3,631 18,707 977 3,631 19,684 23,315 (485 ) 22,830 2021 Omaha 206 8,681 2,235 18,673 2,593 2,235 21,266 23,501 (554 ) 22,947 2019 2021 Triad 161 13,491 3,894 16,310 1,432 3,894 17,742 21,636 (418 ) 21,218 2021 Montgomery 161 9,555 3,040 13,353 1,537 3,040 14,890 17,930 (250 ) 17,680 2021 Total operating homes 16,889 1,402,266 334,191 1,203,615 189,142 334,191 1,392,757 1,726,948 (76,789 ) 1,650,159 Homes held for sale 2 — 13 68 — 13 68 81 — 81 2018 Total homes 16,891 $ 1,402,266 $ 334,204 $ 1,203,683 $ 189,142 $ 334,204 $ 1,392,825 $ 1,727,029 $ (76,789 ) $ 1,650,240
SEC Schedule III Reconciliation of Carrying Amount of Real Estate Investments [Table Text Block]	For the Year Ended December 31, 2021 2020 2019 Gross operating real estate: Balance, beginning of year $ 754,467 $ 521,084 $ 335,306 Acquisitions and building improvements 978,661 234,825 189,495 Write-offs (6,180 ) (1,442 ) (3,717 ) Balance, end of year $ 1,726,948 $ 754,467 $ 521,084 Accumulated depreciation and amortization: Balance, beginning of year $ 34,396 $ 15,391 $ 3,027 Depreciation expense (1) 42,312 19,304 12,999 Amortization expense 6,261 1,143 3,082 Write-offs (6,180 ) (1,442 ) (3,717 ) Balance, end of year $ 76,789 $ 34,396 $ 15,391

Note 1 - Organization and Des_2

Note 1 - Organization and Description of Business (Details Textual) $ / shares in Units, $ in Thousands		May 04, 2020	May 01, 2019USD ($)	Nov. 01, 2018USD ($)$ / sharesshares	Dec. 31, 2018shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)$ / sharesshares	May 12, 2021	Apr. 22, 2021	Mar. 01, 2021	Jan. 22, 2021	Aug. 28, 2018USD ($)$ / sharesshares
Number of Real Estate Properties						2			2
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares						$ 0.01	$ 0.01		$ 0.01
Proceeds from Issuance of Common Stock | $						$ 505,524	$ 124,958	$ 91,497	$ 721,979
Number of States in which Entity Operates						16			16
The 2018 Long-Term Incentive Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance (in shares)					426,307
Share-based Compensation Arrangement by Share-based Payment Award, Yearly Increase in Number of Shares Authorized, Percentage of Outstanding Common Stock					10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum					10.00%
Private Placement [Member]
Proceeds from Issuance of Common Stock | $						$ 26,500
Equity Offering, Maximum Number of Shares (in shares)														40,000,000
Equity Offering, Maximum Value | $														$ 1,000,000
Shares Issued, Price Per Share (in dollars per share) | $ / shares														$ 25
NexPoint Real Estate Advisors V, L.P. [Member]
Advisory Agreement, Renewal Term (Year)		1 year
VineBrook Homes, LLC [Member]
Management Agreement, Term (Year)						3 years
Management Agreement, Renewal Term (Year)						1 year
Consolidated Properties [Member]
Number of Real Estate Properties	[1]					16,891			16,891
Single Family [Member] | Consolidated Properties [Member]
Number of Real Estate Properties						16,891	9,282		16,891
Single Family [Member] | Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties						110			110
Single Family [Member] | Discontinued Operations, Disposed of by Sale [Member] | Consolidated Properties [Member]
Number of Real Estate Properties						30			30
Single Family [Member] | Acquisition of Additional Homes [Member]
Number of Real Estate Properties						12,872			12,872
Single Family [Member] | Acquisition of Additional Homes [Member] | Consolidated Properties [Member]
Number of Real Estate Properties						7,639			7,639	202	100	2,170	1,725
KeyBank N.A [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac) Mortgage Loan [Member] | Initial Mortgage [Member]
Loans Payable to Bank, Total | $				$ 241,400
Formation Transaction [Member]
Number of Real Estate Properties				4,129
Business Combination, Consideration Transferred, Total | $				$ 330,200
Business Combination, Acquisition Related Costs | $				6,000
NexPoint Real Estate Opportunities, LLC [Member]
Proceeds from Partnership Contribution | $				70,700
VineBrook Contributors [Member]
Proceeds from Issuance or Sale of Equity, Total | $				$ 8,600
Common Class A [Member]
General Partners' Capital Account, Units Outstanding (in shares)						18,673,164			18,673,164
Common Stock, Shares Subscribed but Unissued (in shares)				1,097,367
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares				$ 0.01
Proceeds from Issuance of Common Stock | $				$ 27,400		$ 501,694	$ 124,325	$ 91,493
Common Class C [Member] | VineBrook Homes OP GP, LLC [Member] | NexPoint Real Estate Strategies Fund [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						0.40%			0.40%
Limited Partners' Capital Account, Units Outstanding (in shares)						86,595			86,595
Common Class C [Member] | VineBrook Homes OP GP, LLC [Member] | GAF REIT, LLC [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						0.60%			0.60%
Limited Partners' Capital Account, Units Outstanding (in shares)						136,656			136,656
Common Class C [Member] | VineBrook Homes OP GP, LLC [Member] | VineBrook Contributors [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						3.20%			3.20%
Limited Partners' Capital Account, Units Outstanding (in shares)						712,355			712,355
VineBrook Homes OP GP, LLC [Member]
General Partners' Capital Account, Units Outstanding (in shares)						22,300,100			22,300,100
VineBrook Homes OP GP, LLC [Member] | Common Class A [Member]
General Partners' Capital Account, Units Outstanding (in shares)						18,673,164			18,673,164
Partners' Capital Account, Unit Voting Percentage						50.00%			50.00%
VineBrook Homes OP GP, LLC [Member] | Common Class A [Member] | VineBrook Contributors [Member]
Increase (Decrease) in Partners' Capital, Total | $			$ 1,400
VineBrook Homes OP GP, LLC [Member] | Common Class A [Member] | VineBrook Homes Trust, Inc [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						83.70%			83.70%
VineBrook Homes OP GP, LLC [Member] | Common Class B [Member]
Partners' Capital Account, Unit Voting Percentage						50.00%			50.00%
VineBrook Homes OP GP, LLC [Member] | Common Class B [Member] | NexPoint Real Estate Opportunities, LLC [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)						2,691,330			2,691,330
VineBrook Homes OP GP, LLC [Member] | Common Class B [Member] | NexPoint Real Estate Opportunities, LLC [Member]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						12.10%			12.10%
VineBrook Homes OP GP, LLC [Member] | Common Class C [Member] | NexPoint Real Estate Strategies Fund [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)						86,595			86,595
VineBrook Homes OP GP, LLC [Member] | Common Class C [Member] | VineBrook Contributors [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)						712,355			712,355
[1]	Assets held, directly or indirectly, by VB One, LLC, VB Two, LLC and VB Three, LLC are not encumbered by a mortgage. Instead, the lender has an equity pledge in certain assets of the respective SPEs and an equity pledge in the equity of the respective SPEs.

Note 2 - Summary of Significa_3

Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate Investment Property, Accumulated Depreciation	$ 76,789	$ 34,396
Impairment of Real Estate	0	0	$ 0
Operating Lease, Variable Lease Income	$ 6,500	$ 2,600	$ 2,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	4,067,000	3,569,000	3,022,000
Number of Reportable Segments	1
Reclassified From Accounts Receivable to Due From Manager to Conform to Current Presentation [Member]
Prior Period Reclassification Adjustment		$ 1,100
Series A Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	6.50%
Intangible Lease Assets [Member]
Real Estate Investment Property, at Cost, Total	$ 1,000	800
Real Estate Investment Property, Accumulated Depreciation	500	300
Amortization, Total	$ 6,300	$ 1,100	$ 3,100

Note 2 - Summary of Significa_4

Note 2 - Summary of Significant Accounting Policies - Estimated Useful Life of Real Estate (Details)	12 Months Ended
	Dec. 31, 2021
Improvements and Other Assets [Member] | Minimum [Member]
Estimated useful life (Year)	3 years
Improvements and Other Assets [Member] | Maximum [Member]
Estimated useful life (Year)	15 years
Building [Member]
Estimated useful life (Year)	27 years 6 months
Intangible Lease Assets [Member]
Estimated useful life (Year)	6 months

Note 2 - Summary of Significa_5

Note 2 - Summary of Significant Accounting Policies - Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash	$ 54,104	$ 31,225	$ 11,896
Restricted cash	20,893	5,871	5,934
Total cash and restricted cash	$ 74,997	$ 37,096	$ 17,830

Note 2 - Summary of Significa_6

Note 2 - Summary of Significant Accounting Policies - Computation of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net income (loss)		$ 61	$ (1,665)	$ (1,642)
Dividends on and accretion to redemption value of Redeemable Series A preferred stock		8,837	1,052	0
Net loss attributable to redeemable noncontrolling interests in the OP		(144)	(570)	(967)
Net loss attributable to common stockholders		$ (8,632)	$ (2,147)	$ (675)
Weighted average common shares outstanding - basic (in shares)		15,366	7,175	3,221
Weighted average unvested RSUs, PI Units, and OP Units (1) (in shares)	[1]	0	0	0
Weighted average common shares outstanding - diluted (in shares)		15,366	7,175	3,221
Loss per share - basic (in dollars per share)		$ (0.56)	$ (0.30)	$ (0.21)
Loss per share - diluted (in dollars per share)		$ (0.56)	$ (0.30)	$ (0.21)
[1]	For the years ended December 31, 2021, 2020 and 2019, excludes approximately 4,067,000 shares, 3,569,000 shares, and 3,022,000 shares, respectively, related to the assumed vesting of RSUs and PI Units and the conversion of OP Units and vested PI Units to Shares, as the effect would have been anti-dilutive.

Note 3 - Investments in Subsi_3

Note 3 - Investments in Subsidiaries (Details Textual)		Dec. 31, 2021	Dec. 31, 2020
Number of Real Estate Properties		2
Consolidated Properties [Member]
Number of Real Estate Properties	[1]	16,891
Single Family [Member] | Consolidated Properties [Member]
Number of Real Estate Properties		16,891	9,282
[1]	Assets held, directly or indirectly, by VB One, LLC, VB Two, LLC and VB Three, LLC are not encumbered by a mortgage. Instead, the lender has an equity pledge in certain assets of the respective SPEs and an equity pledge in the equity of the respective SPEs.

Note 3 - Investments in Subsi_4

Note 3 - Investments in Subsidiaries - Schedule of Subsidiaries (Details) $ in Thousands	Dec. 31, 2021USD ($)
Homes	2
Subsidiaries [Member]
Debt allocated	$ 778,683	[1]
Consolidated Properties [Member]
Homes	16,891	[1]
Real Estate Investment Property, at Cost, Total	$ 1,727,029	[1]
NREA VB I, LLC [Member]
Homes	66	[1]
Real Estate Investment Property, at Cost, Total	$ 6,017	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 5,048	[1]
NREA VB II, LLC [Member]
Homes	167	[1]
Real Estate Investment Property, at Cost, Total	$ 16,351	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 10,742	[1]
NREA VB III, LLC [Member]
Homes	1,322	[1]
Real Estate Investment Property, at Cost, Total	$ 120,454	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 71,115	[1]
NREA VB IV, LLC [Member]
Homes	386	[1]
Real Estate Investment Property, at Cost, Total	$ 37,160	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 24,330	[1]
NREA VB V, LLC [Member]
Homes	1,829	[1]
Real Estate Investment Property, at Cost, Total	$ 125,922	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 108,384	[1]
NREA VB VI, LLC [Member]
Homes	302	[1]
Real Estate Investment Property, at Cost, Total	$ 27,632	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 18,661	[1]
NREA VB VII, LLC [Member]
Homes	36	[1]
Real Estate Investment Property, at Cost, Total	$ 3,045	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 2,989	[1]
True FM2017-1, LLC [Member]
Homes	211	[1]
Real Estate Investment Property, at Cost, Total	$ 18,299	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 10,387	[1]
SMP Homes 3B, LLC [Member]
Homes	160	[1]
Real Estate Investment Property, at Cost, Total	$ 16,806	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 0	[1]
SMP Homes 5B, LLC [Member]
Homes	46	[1]
Real Estate Investment Property, at Cost, Total	$ 4,648	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 2,338	[1]
VB One, LLC [Member]
Homes	6,622	[1]
Real Estate Investment Property, at Cost, Total	$ 662,829	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 160,000	[1]
VB Two, LLC [Member]
Homes	1,853	[1]
Real Estate Investment Property, at Cost, Total	$ 162,137	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 124,689	[1]
VB Three, LLC [Member]
Homes	3,891	[1]
Real Estate Investment Property, at Cost, Total	$ 525,729	[1]
Ownership %	100.00%	[1]
Debt allocated	$ 240,000	[1]
[1]	Assets held, directly or indirectly, by VB One, LLC, VB Two, LLC and VB Three, LLC are not encumbered by a mortgage. Instead, the lender has an equity pledge in certain assets of the respective SPEs and an equity pledge in the equity of the respective SPEs.

Note 4 - Real Estate Assets (De

Note 4 - Real Estate Assets (Details Textual) $ in Thousands		Jul. 13, 2021USD ($)	May 12, 2021USD ($)	Apr. 22, 2021USD ($)	Mar. 01, 2021USD ($)	Jan. 22, 2021USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Number of Real Estate Properties							2
Interest Costs Capitalized								$ 4,400
Depreciation, Total							$ 42,300	19,300	$ 13,000
Real Estate Held-for-sale							$ 81	$ 675
Single Family [Member] | Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties							110
Single Family [Member] | Acquisition of Additional Homes [Member]
Number of Real Estate Properties							12,872
Consolidated Properties [Member]
Number of Real Estate Properties	[1]						16,891
Consolidated Properties [Member] | Single Family [Member]
Number of Real Estate Properties							16,891	9,282
Consolidated Properties [Member] | Single Family [Member] | Discontinued Operations, Disposed of by Sale [Member]
Number of Real Estate Properties							30
Consolidated Properties [Member] | Single Family [Member] | Acquisition of Additional Homes [Member]
Number of Real Estate Properties			202	100	2,170	1,725	7,639
Payments to Acquire Real Estate, Total			$ 23,500	$ 10,200	$ 282,900	$ 228,000
Consolidated Properties [Member] | Single Family [Member] | Purchase of Ovation Portfolio [Member]
Number of Real Estate Properties		77
Payments to Acquire Real Estate, Total		$ 12,300
[1]	Assets held, directly or indirectly, by VB One, LLC, VB Two, LLC and VB Three, LLC are not encumbered by a mortgage. Instead, the lender has an equity pledge in certain assets of the respective SPEs and an equity pledge in the equity of the respective SPEs.

Note 4 - Real Estate Assets - S

Note 4 - Real Estate Assets - Schedule of Real Estate Investments (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Gross Real Estate, beginning balance		$ 755,142
Additions		980,341
Write-offs		(6,180)	$ (1,442)	$ (3,717)
Dispositions		(2,274)
Gross Real Estate, ending balance		1,727,029	755,142
Accumulated depreciation and amortization		(76,789)	(34,396)	$ (15,391)	$ (3,027)
Net Real Estate, December 31, 2021		1,650,240
Land [Member]
Gross Real Estate, beginning balance		171,062
Additions		163,129
Write-offs		0
Dispositions		0
Gross Real Estate, ending balance		334,191	171,062
Accumulated depreciation and amortization		0
Net Real Estate, December 31, 2021		334,191
Building and Building Improvements [Member]
Gross Real Estate, beginning balance	[1]	582,610
Additions	[1],[2]	809,176
Write-offs	[1]	0
Dispositions	[1]	0
Gross Real Estate, ending balance	[1]	1,391,786	582,610
Accumulated depreciation and amortization	[1]	(76,298)
Net Real Estate, December 31, 2021	[1]	1,315,488
Intangible Lease Assets [Member]
Gross Real Estate, beginning balance		795
Additions		6,356
Write-offs		(6,180)
Dispositions		0
Gross Real Estate, ending balance		971	795
Accumulated depreciation and amortization		(491)
Net Real Estate, December 31, 2021		480
Real Estate Held for Sale [Member]
Gross Real Estate, beginning balance		675
Additions		1,680
Write-offs		0
Dispositions		(2,274)
Gross Real Estate, ending balance		81	$ 675
Accumulated depreciation and amortization		0
Net Real Estate, December 31, 2021		$ 81
[1]	Includes capitalized interest, real estate taxes, insurance and other costs incurred during rehabilitation of the properties.
[2]	Includes capitalized interest of approximately $4.4 million and other capitalizable costs of approximately $4.9 million.

Note 5 - Investment in Limite_2

Note 5 - Investment in Limited Partnership (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Nov. 22, 2021	Dec. 31, 2020
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total	$ 2,500		$ 0
Vesta Ventures Fund I, LP [Member]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total		$ 2,500
Unrealized Gain (Loss) on Investments, Total	$ 0

Note 6 - Debt (Details Textual)

Note 6 - Debt (Details Textual) $ in Thousands

Nov. 03, 2021USD ($)

Mar. 01, 2021USD ($)

Sep. 20, 2019

Nov. 01, 2018USD ($)

Dec. 31, 2021USD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2019USD ($)

Dec. 09, 2021USD ($)

Nov. 02, 2021USD ($)

Jan. 06, 2021USD ($)

Dec. 28, 2020USD ($)

Sep. 30, 2019USD ($)

Debt Issuance Costs, Net, Total

$ 10,554

$ 2,756

Long-term Line of Credit, Total

$ 391,703

83,937

Number of Real Estate Properties

2

Notes Payable, Total

$ 376,842

$ 262,522

LIBOR Rate

0.1013%

0.1439%

Interest Expense [Member]

Amortization of Debt Issuance Costs

$ 3,900

$ 700

$ 400

Interest Rate Swap [Member]

Derivative, Notional Amount

$ 320,000

London Interbank Offered Rate (LIBOR) [Member] | Interest Rate Swap [Member]

Derivative, Variable Interest Rate

1.4309%

Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]

Debt Instrument, Basis Spread on Variable Rate

1.60%

Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]

Debt Instrument, Basis Spread on Variable Rate

2.45%

Debt, Without Effect of Derivative Financial Instruments [Member]

Debt, Weighted Average Interest Rate

2.3707%

2.1227%

Debt, Including Effect of Derivative Financial Instruments [Member]

Debt, Weighted Average Interest Rate

2.9171%

3.2998%

KeyBank N.A [Member] | Warehouse Facility [Member] | VB One, LLC [Member] | Line of Credit [Member]

Debt Instrument, Term, Interest-only (Month)

36 months

Debt Instrument, Extension Term (Month)

12 months

Line of Credit Facility, Current Borrowing Capacity

$ 350,000

$ 465,000

$ 135,000

Debt Issuance Costs, Net, Total

$ 3,200

$ 900

Line of Credit Facility, Maximum Increase in Borrowing Capacity

$ 800,000

Long-term Line of Credit, Total

160,000

KeyBank N.A [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac) Mortgage Loan [Member] | Initial Mortgage [Member]

Loans Payable to Bank, Total

$ 241,400

Debt Instrument, Basis Spread on Variable Rate

1.55%

Debt Instrument, Term, Interest-only (Month)

48 months

Debt Instrument, Amortization of Principal Term (Month)

36 months

KeyBank N.A [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac) Mortgage Loan [Member] | Initial Mortgage [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]

Debt Instrument, Increase (Decrease), Net, Total

(100)

Berkadia Commercial Mortgage LLC [Member] | Federal Home Loan Mortgage Corporation (Freddie Mac) Mortgage Loan [Member] | TruLane Mortgage [Member]

Number of Real Estate Properties

954

Loans Payable, Total

$ 10,800

Debt Instrument, Interest Rate, Stated Percentage

5.35%

Colony American Finance Lender, LLC [Member[ | Colony Note [Member]

Number of Real Estate Properties

161

Loans Payable, Total

$ 9,200

CoreVest American Finance Lender LLC [Member] | CoreVest Note [Member]

Number of Real Estate Properties

45

Loans Payable, Total

$ 2,400

Debt Instrument, Interest Rate, Stated Percentage

6.12%

Metropolitan Life Insurance [Member] | MetLife Note [Member] | VB Two, LLC [Member]

Debt Instrument, Interest Rate, Stated Percentage

3.25%

Notes Payable, Total

$ 125,000

Metropolitan Life Insurance [Member] | MetLife Note [Member] | VB Two, LLC [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]

Debt Instrument, Increase (Decrease), Net, Total

(300)

JP Morgan [Member] | JPM Facility [Member] | VB Three, LLC [Member]

Line of Credit Facility, Maximum Borrowing Capacity

$ 500,000

Line of Credit Facility, Remaining Borrowing Capacity

$ 260,000

JP Morgan [Member] | JPM Facility [Member] | VB Three, LLC [Member] | London Interbank Offered Rate (LIBOR) [Member]

Debt Instrument, Basis Spread on Variable Rate

2.75%

Note 6 - Debt - Summary of Debt

Note 6 - Debt - Summary of Debt (Details) - USD ($) $ in Thousands		Dec. 31, 2021		Dec. 31, 2020
Debt, gross		$ 778,683		$ 349,874
Debt premium, net	[1]	416		591
Deferred financing costs, net of accumulated amortization of $5,325 and $1,235, respectively		(10,554)		(2,756)
Long-term Debt, Total		768,545		347,709
Initial Mortgage [Member]
Debt, gross		$ 241,269	[2]	241,400
Interest rate	[3]	1.65%
Warehouse Facility [Member]
Debt, gross		$ 160,000		85,000
Interest rate	[3]	1.80%
JPM Facility [Member]
Debt, gross		$ 240,000		0
Interest rate	[3]	2.85%
MetLife Note [Member]
Debt, gross		$ 124,689	[4]	0
Interest rate	[3]	3.25%
TruLane Mortgage [Member]
Debt, gross		$ 10,387		10,570
Interest rate	[3]	5.35%
Colony Note [Member]
Debt, gross		$ 0		9,296
Interest rate	[3]	6.06%
CoreVest Note [Member]
Debt, gross		$ 2,338		2,358
Interest rate	[3]	6.12%
NexPoint Real Estate Opportunities, LLC Note [Member]
Debt, gross	[5]	$ 0		$ 1,250
Interest rate	[3],[5]	2.35%
[1]	The Company reflected valuation adjustments on its assumed fixed rate debt to adjust it to fair market value on the dates of acquisition for the difference between the fair value and the assumed principal amount of debt. The difference is amortized into interest expense over the remaining terms of the debt.
[2]	During the year ended December 31, 2021, the OP sold three homes previously encumbered by the Initial Mortgage, which resulted in an approximately $0.1 million reduction of principal.
[3]	Represents the interest rate as of December 31, 2021. Except for fixed rate debt, the interest rate is one-month LIBOR plus an applicable margin. One-month LIBOR as of December 31, 2021 was 0.1013%. One-month LIBOR as of December 31, 2020 was 0.1439%.
[4]	During the year ended December 31, 2021, the OP [sold] six homes previously encumbered by the MetLife Note, which resulted in an approximately $0.3 million reduction of principal.
[5]	This was a related party note which was extinguished during the year ended December 31, 2021 (see Note 12).

Note 6 - Debt - Summary of De_2

Note 6 - Debt - Summary of Debt (Details) (Parentheticals) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accumulated amortization of deferred financing costs	$ 5,325	$ 1,235

Note 6 - Debt - Aggregate Sched

Note 6 - Debt - Aggregate Scheduled Maturities (Details) - USD ($) $ in Thousands		Dec. 31, 2021	Dec. 31, 2020
2022		$ 951
2023		251,067
2024		8,371
2025	[1]	383,991
2026		124,910
Thereafter		9,393
Total		$ 778,683	$ 349,874
[1]	Assumes the Company exercises the 12-month extension option on the Warehouse Facility.

Note 7 - Fair Value of Deriva_3

Note 7 - Fair Value of Derivatives and Financial Instruments (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
LIBOR Rate	0.1013%	0.1439%
Unrealized Gain (Loss) on Derivatives	$ (3,918)	$ (1,957)	$ 419
Interest Expense, Total	$ 25,189	10,901	9,813
Interest Rate Swap [Member]
Derivative, Number of Instruments Held, Total	5
Derivative, Notional Amount	$ 320,000
Unrealized Gain (Loss) on Derivatives	$ 11,900	(17,100)	1,600
Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member]
Derivative, Variable Interest Rate	1.4309%
Interest Rate Cap [Member]
Derivative, Notional Amount	$ 241,400
Derivative, Cap Interest Rate	6.60%
Interest Rate Cap [Member] | Minimum [Member]
Interest Expense, Total	$ 100	$ 100	$ 100

Note 7 - Fair Value of Deriva_4

Note 7 - Fair Value of Derivatives and Financial Instruments - Outstanding Interest Rate Swaps Designated as Cash Flow Hedges (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Interest Rate Swap [Member]
Derivative, notional amount	$ 320
Designated as Hedging Instrument [Member] | Interest Rate Swap Effective July 1, 2019 [Member]
Derivative, expiration date	Jul. 1, 2024
Derivative, notional amount	$ 100
Derivative, fixed rate	1.629%
Designated as Hedging Instrument [Member] | First Interest Rate Swap Effective September 1, 2019 [Member]
Derivative, expiration date	Dec. 21, 2025
Derivative, notional amount	$ 100
Derivative, fixed rate	1.418%
Designated as Hedging Instrument [Member] | Second Interest Rate Swap Effective September 1, 2019 [Member]
Derivative, expiration date	Dec. 21, 2025
Derivative, notional amount	$ 50
Derivative, fixed rate	1.419%
Designated as Hedging Instrument [Member] | Interest Rate Swap Effective February 3, 2020 [Member]
Derivative, expiration date	Feb. 1, 2025
Derivative, notional amount	$ 50
Derivative, fixed rate	1.279%
Designated as Hedging Instrument [Member] | Interest Rate Swap Effective March 2, 2020 [Member]
Derivative, expiration date	Mar. 3, 2025
Derivative, notional amount	$ 20
Derivative, fixed rate	0.914%
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative, notional amount	$ 320
Derivative, fixed rate	1.4309%	[1]
[1]	Represents the weighted average fixed rate of the interest rate swaps.

Note 7 - Fair Value of Deriva_5

Note 7 - Fair Value of Derivatives and Financial Instruments - Derivative Financial Instruments Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Liability derivatives	$ 3,590	$ 15,453
Designated as Hedging Instrument [Member]
Asset derivatives	0	0
Liability derivatives	3,590	15,453
Interest Rate Swap [Member] | Designated as Hedging Instrument [Member]
Asset derivatives	0	0
Liability derivatives	$ 3,590	$ 15,453

Note 8 - Stockholders' Equity_2

Note 8 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions	Feb. 15, 2021	May 11, 2020	Dec. 10, 2019	Jun. 30, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net Asset Value Per Share, Ending Balance (in dollars per share)					$ 54.14
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares)					45,067
The 2018 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	191,506	179,858	73,700		191,506	179,858
Net Asset Value Per Share, Ending Balance (in dollars per share)	$ 36.56	$ 30.82	$ 29.85
The 2018 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | General and Administrative Expense [Member]
Share-based Payment Arrangement, Expense					$ 2.3	$ 1.1	$ 0.1
The 2018 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				4 years
The 2018 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Vesting Ratably Over Four Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)	4 years	4 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%	50.00%
The 2018 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Vesting Upon Successful Completion of Initial Public Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage	50.00%	50.00%
The 2018 Long-Term Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Nonemployee [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)				1 year

Note 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Share Issuances (Details) - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Shares issued (in shares)	12,836,295	4,142,704	3,255,762	20,234,761
Cash proceeds	$ 505,524	$ 124,958	$ 91,497	$ 721,979
DRIP reinvestment	$ 16,638	$ 7,219	$ 2,702	$ 26,559

Note 8 - Stockholders' Equity_3

Note 8 - Stockholders' Equity - Dividends (Details) - USD ($) $ in Thousands		12 Months Ended			36 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
DRIP shares issued (in shares)		389,691	229,382	95,589	714,662
DRIP dividend		$ 16,638	$ 7,219	$ 2,702	$ 26,559
Cash dividend		15,920	8,001	4,022	27,943
Cash dividend accrued on RSUs	[1]	819	400	0	1,219
Total dividends		$ 33,377	$ 15,620	$ 6,724	$ 55,721
[1]	Included in accounts payable and other accrued liabilities on the consolidated balance sheets.

Note 8 - Stockholders' Equity_4

Note 8 - Stockholders' Equity - Number of RSUs Outstanding (Details) - Restricted Stock Units (RSUs) [Member] - The 2018 Long-Term Incentive Plan [Member] - USD ($) $ in Thousands		Feb. 15, 2021	May 11, 2020	Dec. 10, 2019	Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
Outstanding, number of RSUs (in shares)					235,133		73,700
Outstanding, value	[1]				$ 12,405		$ 7,193	$ 2,200
Granted, number of RSUs (in shares)		191,506	179,858	73,700	191,506		179,858
Granted, value	[1]				$ 6,720		$ 5,543
Vested, number of RSUs (in shares)					(48,935)	[2]	(18,425)
Vested, value	[1]				$ (1,508)		$ (550)
Forfeited, number of RSUs (in shares)					0		0
Outstanding, number of RSUs (in shares)					377,704		235,133
[1]	Value is based on the number of RSUs granted multiplied by the most recent NAV per share on the date of grant, which was $36.56 for the February 15, 2021 grant, $30.82 for the May 11, 2020 grant, and $29.85 for the December 10, 2019 grant.
[2]	Certain grantees elected to net the taxes owed upon vesting against the Shares issued resulting in 45,067 Shares being issued as shown on the consolidated statements of stockholders' equity.

Note 8 - Stockholders' Equity_5

Note 8 - Stockholders' Equity - Vesting Schedule of RSUs (Details) - Restricted Stock Units (RSUs) [Member] - The 2018 Long-Term Incentive Plan [Member]	Dec. 31, 2021shares
Vesting February 15, 2022 [Member]
RSUs vesting (in shares)	32,485
Vesting December 10, 2021 [Member]
RSUs vesting (in shares)	21,336
Vesting May 11, 2022 [Member]
RSUs vesting (in shares)	18,425
Vesting February 15, 2023 [Member]
RSUs vesting (in shares)	22,717
Vesting December 10, 2022 [Member]
RSUs vesting (in shares)	21,335
Vesting May 11, 2023 [Member]
RSUs vesting (in shares)	18,426
Vesting February 15, 2024 [Member]
RSUs vesting (in shares)	22,717
Vesting December 10, 2023 [Member]
RSUs vesting (in shares)	21,335
Vesting February 14, 2025 [Member]
RSUs vesting (in shares)	22,717
Vesting Upon Successful Completion of Initial Public Offering [Member]
RSUs vesting (in shares)	176,211
Vesting May 11, 2024 [Member]
RSUs vesting (in shares)	377,704

Note 9 - Redeemable Noncontro_3

Note 9 - Redeemable Noncontrolling Interests in the OP (Details Textual) - USD ($) $ / shares in Units, $ in Millions	May 31, 2021	Nov. 30, 2020	May 11, 2020	Nov. 21, 2019	Apr. 19, 2019	May 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
The 2018 Long-Term Incentive Plan [Member] | PI Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)	246,169	11,764	219,826	80,399	40,000		246,169	231,590
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)	$ 38.29	$ 33.45	$ 30.16	$ 29.12	$ 27.88
The 2018 Long-Term Incentive Plan [Member] | PI Units [Member] | Vesting Ratably Over Four Years [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)		4 years				4 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100.00%				50.00%
The 2018 Long-Term Incentive Plan [Member] | PI Units [Member] | Vesting Upon Successful Completion of Initial Public Offering [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)							11,764
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage		100.00%				50.00%
Share-based Payment Arrangement, Expense							$ 2.4	$ 1.5	$ 0.3
The 2018 Long-Term Incentive Plan [Member] | PI Units [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)									2 years
The 2018 Long-Term Incentive Plan [Member] | PI Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)									4 years
VineBrook Homes OP GP, LLC [Member]
General Partners' Capital Account, Units Outstanding (in shares)							22,300,100
Common Class A [Member]
General Partners' Capital Account, Units Outstanding (in shares)							18,673,164
Common Class A [Member] | VineBrook Homes OP GP, LLC [Member]
General Partners' Capital Account, Units Outstanding (in shares)							18,673,164
Partners' Capital Account, Unit Voting Percentage							50.00%
Common Class B [Member] | VineBrook Homes OP GP, LLC [Member]
Partners' Capital Account, Unit Voting Percentage							50.00%
Common Class B [Member] | VineBrook Homes OP GP, LLC [Member] | NexPoint Real Estate Opportunities, LLC [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)							2,691,330
Common Class C [Member] | VineBrook Homes OP GP, LLC [Member] | NexPoint Real Estate Strategies Fund [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)							86,595
Common Class C [Member] | VineBrook Homes OP GP, LLC [Member] | NexPoint Real Estate Capital, LLC [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)							136,656
Common Class C [Member] | VineBrook Homes OP GP, LLC [Member] | VineBrook Contributors [Member]
Limited Partners' Capital Account, Units Outstanding (in shares)							712,355

Note 9 - Redeemable Noncontro_4

Note 9 - Redeemable Noncontrolling Interests in the OP - Schedule of Redeemable Noncontrolling Interests in the OP (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net loss attributable to redeemable noncontrolling interests in the OP	$ (144)	$ (570)	$ (967)
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP	(66,509)	(34,462)	$ (26,563)
VineBrook Homes OP GP, LLC [Member]
Redeemable noncontrolling interests in the OP, balance	127,090
Net loss attributable to redeemable noncontrolling interests in the OP	(144)
Contributions by redeemable noncontrolling interests in the OP	6,559
Distributions to redeemable noncontrolling interests in the OP	(8,509)
Equity-based compensation	2,353
Other comprehensive income attributable to redeemable noncontrolling interests in the OP	2,504
Adjustment to reflect redemption value of redeemable noncontrolling interests in the OP	66,509
Redeemable noncontrolling interests in the OP, balance	$ 196,362	$ 127,090

Note 9 - Redeemable Noncontro_5

Note 9 - Redeemable Noncontrolling Interests in the OP - Distributions (Details) - VineBrook Homes OP GP, LLC [Member] - USD ($) $ in Thousands	12 Months Ended			36 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
OP Distribution	$ 8,509	$ 7,533	$ 6,364	$ 22,406
DRIP Distribution [Member]
OP Units Issued (in shares)	39,262	124,339	121,054	284,655
OP Distribution	$ 1,633	$ 3,872	$ 3,396	$ 8,901
Cash Distribution [Member]
OP Distribution	5,935	3,014	2,861	11,810
Cash Distribution Accrued on PI Units [Member]
OP Distribution	$ 941	$ 647	$ 107	$ 1,695

Note 9 - Redeemable Noncontro_6

Note 9 - Redeemable Noncontrolling Interests in the OP - Number of PI Units Outstanding (Details) - PI Units [Member] - The 2018 Long-Term Incentive Plan [Member] - USD ($) $ in Thousands		May 31, 2021	Nov. 30, 2020	May 11, 2020	Nov. 21, 2019	Apr. 19, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Outstanding, number of RSUs (in shares)							310,465	120,399
Outstanding, value	[1]						$ 16,965	$ 9,290	$ 3,456
Granted (in shares)		246,169	11,764	219,826	80,399	40,000	246,169	231,590
Granted, value	[1]						$ 9,426	$ 7,023
Vested (in shares)							(58,044)	(41,524)
Vested, value	[1]						$ (1,751)	$ (1,189)
Forfeited, number of RSUs (in shares)							0	0
Outstanding, number of RSUs (in shares)							498,590	310,465
[1]	Value is based on the number of PI Units granted multiplied by the estimated per unit fair value on the date of grant, which was $27.88 for the April 19, 2019 grant, $29.12 for the November 21, 2019 grant, $30.16 for the May 11, 2020 grant, $33.45 for the November 30, 2020 grant and $38.29 for the May 31, 2021 grant.

Note 9 - Redeemable Noncontro_7

Note 9 - Redeemable Noncontrolling Interests in the OP - Vesting Schedule for the PI Units (Details) - PI Units [Member] - The 2018 Long-Term Incentive Plan [Member]	Dec. 31, 2021shares
Vesting November 1, 2021 [Member]
PI Units Vesting (in shares)	27,479
Vesting November 21, 2021 [Member]
PI Units Vesting (in shares)	30,771
Vesting November 30, 2021 [Member]
PI Units Vesting (in shares)	7,200
Vesting May 11, 2022 [Member]
PI Units Vesting (in shares)	18,425
Vesting May 31, 2022 [Member]
PI Units Vesting (in shares)	2,941
Vesting November 1, 2022 [Member]
PI Units Vesting (in shares)	30,771
Vesting November 21, 2022 [Member]
PI Units Vesting (in shares)	27,478
Vesting November 30, 2022 [Member]
PI Units Vesting (in shares)	7,200
Vesting March 30, 2023 [Member]
PI Units Vesting (in shares)	18,425
Vesting May 11, 2023 [Member]
PI Units Vesting (in shares)	2,941
Vesting November 1, 2023 [Member]
PI Units Vesting (in shares)	30,771
Vesting November 21, 2023 [Member]
PI Units Vesting (in shares)	27,478
Vesting November 30, 2023 [Member]
PI Units Vesting (in shares)	2,941
Vesting March 30, 2024 [Member]
PI Units Vesting (in shares)	30,771
Vesting Upon Successful Completion of Initial Public Offering [Member]
PI Units Vesting (in shares)	232,998	[1]
Vesting May 11, 2024 [Member]
PI Units Vesting (in shares)	498,590
[1]	Upon successful completion of an IPO, an additional 11,764 PI Units will vest immediately instead of vesting ratably according to the schedule above on each of November 30, 2021, November 30, 2022, November 30, 2023 and November 30, 2024.

Note 9 - Redeemable Noncontro_8

Note 9 - Redeemable Noncontrolling Interests in the OP - Consolidated Shares and OP Units Outstanding (Details) - shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Shares outstanding (in shares)	21,814,248	9,260,795
VineBrook Homes OP GP, LLC [Member]
Consolidated shares and OP units outstanding (in shares)	25,441,184	12,737,011	8,234,236
VineBrook Homes OP GP, LLC [Member] | VineBrook Homes Trust, Inc [Member]
Shares outstanding (in shares)	21,814,248	9,260,795	5,162,532
VineBrook Homes OP GP, LLC [Member] | Holders of OP Units [Member]
OP units held by NCI (in shares)	3,626,936	3,476,216	3,071,704

Note 10 - Redeemable Series A_3

Note 10 - Redeemable Series A Preferred Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Nov. 03, 2021	Sep. 10, 2021	Jun. 10, 2021	Mar. 15, 2021	Jan. 08, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Stock Issued During Period, Shares, New Issues (in shares)						12,836,295	4,142,704	3,255,762	20,234,761
Stock Issued During Period, Value, New Issues						$ 521,817	$ 131,544	$ 94,195
Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)					1,460,000
Shares Issued, Price Per Share (in dollars per share)					$ 25.032
Stock Issued During Period, Value, New Issues					$ 36,500
Preferred Stock, Dividend Rate, Percentage						6.50%
Preferred Stock, Redemption Price Per Share (in dollars per share)					$ 25
Preferred Stock, Dividends Per Share, Declared (in dollars per share)	$ 0.40625	$ 0.40625	$ 0.40625	$ 0.40625
Dividends Payable, Date of Record	Nov. 15, 2021	Sep. 25, 2021	Jun. 25, 2021	Mar. 25, 2021
Dividends Payable, Date to be Paid	Jan. 12, 2022	Oct. 12, 2021	Jul. 12, 2021	Apr. 12, 2021
Series A Preferred Stock [Member] | VineBrook Homes OP GP, LLC [Member]
Investment Owned, Balance, Shares (in shares)					1,460,000
Preferred Stock, Dividend Rate, Percentage					6.50%

Note 10 - Redeemable Series A_4

Note 10 - Redeemable Series A Preferred Stock - Schedule of Redeemable Series A Preferred Stock (Details) - USD ($) $ in Thousands	Jan. 08, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2021
Redeemable Series A preferred stock, December 31, 2020 (in shares)		3,540,000
Shares issued (in shares)		12,836,295	4,142,704	3,255,762	20,234,761
Redeemable Series A preferred stock (in shares)		5,000,000	3,540,000		5,000,000
Series A Preferred Stock [Member]
Shares issued (in shares)	1,460,000
Series A Preferred Stock [Member] | Preferred Stock [Member]
Redeemable Series A preferred stock, December 31, 2020 (in shares)		3,540,000
Redeemable Series A preferred stock		$ 85,067
Shares issued (in shares)		1,460,000
Issuance of Redeemable Series A preferred stock		$ 36,547
Issuance costs related to Redeemable Series A preferred stock		(1,430)
Net income attributable to Redeemable Series A preferred stockholders		8,125
Dividends declared to Redeemable Series A preferred stockholders		(8,125)
Accretion to redemption value		$ 712
Redeemable Series A preferred stock (in shares)		5,000,000	3,540,000		5,000,000
Redeemable Series A preferred stock		$ 120,896	$ 85,067		$ 120,896

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)
Open Tax Year	2018 2019 2020
Unrecognized Tax Benefits, Ending Balance	$ 0

Note 12 - Related Party Trans_3

Note 12 - Related Party Transactions (Details Textual)	May 04, 2020	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2021	Aug. 22, 2019USD ($)	Aug. 28, 2018
Advisory Fees		$ 8,281,000	$ 3,271,000	$ 1,710,000
Due from Related Parties, Total		2,909,000	1,766,000
Private Placement [Member] | Minimum [Member]
Equity Offering, Fee to Investors, Percentage of Gross Investor Equity							0.50%
Private Placement [Member] | Maximum [Member]
Equity Offering, Fee to Investors, Percentage of Gross Investor Equity							3.00%
Private Placement [Member] | Maximum [Member] | Sales Through Raymond James [Member]
Equity Offering, Offering and Organization Expenses Charged to Investors, Percentage of Gross Equity Offering							0.50%
Private Placement [Member] | Maximum [Member] | Sales Through Other Placement Agents [Member]
Equity Offering, Offering and Organization Expenses Charged to Investors, Percentage of Gross Equity Offering							1.00%
NexPoint Real Estate Advisors V, L.P. [Member]
Advisory Agreement, Advisory Fee, Annualized Rate of Gross Asset Value	0.75%
Advisory Agreement, Expense Cap, Percentage of Average Total Assets	1.50%
Advisory Fees		$ 8,300,000	3,300,000	$ 1,700,000
Internalization Fee, Factor to Multiply by 12 Months Prior Fee	3
Termination Fee, Factor to Multiply by 12 Months Prior Fee	3
Advisory Agreement, Notice of Termination Period (Day)	180 days
VineBrook Homes, LLC [Member]
Management Agreements, Acquisition Fee, Percentage of Property Acquired During Month		1.00%
Management Agreements, Construction Fee Monthly in Arears, Maximum Percentage of Construction Costs		10.00%
Management Agreements, Construction Fee Monthly in Arrears, Maximum Amount		$ 1,000
Management Agreements, Maximum EBITDA Derived from Fees		$ 1,000,000
Management Agreements, Maximum Percentage of Combined Equity Value for Management Fees		0.50%
Managements Agreements, Manager Cash Cap		25.00%
Internalization Fee, Factor to Multiply by 12 Months Prior Fee		3
Management Agreements, Base Internalization Fee		$ 6,500,000
Management Agreements, Internalization Fee Calculation, Percentage Added to Base Fee		50.00%
Management Agreements, Internalization Fee Calculation, Amount Subtracted from Factored Amount		$ 6,500,000
Termination Fee, Factor to Multiply by 12 Months Prior Fee					3
Management Agreements, Termination Notice Period (Day)		90 days
VineBrook Homes, LLC [Member] | Manager Cash Cap Rebate [Member]
Due from Related Parties, Total		$ 2,200,000	1,100,000
VineBrook Homes, LLC [Member] | Fee Advances [Member]
Due from Related Parties, Total		0	0
VineBrook Homes, LLC [Member] | Backstop Loans [Member]
Due from Related Parties, Total		$ 700,000	700,000
VineBrook Homes, LLC [Member] | Annual Collected Rental Revenue up to and Including 45 Million [Member]
Management Agreements, Property Management Fee Monthly in Arrears, Maximum Percentage of Collected Rental Revenue		8.00%
VineBrook Homes, LLC [Member] | Annual Collected Rental Revenue Between 45 Million and 65 Million [Member]
Management Agreements, Property Management Fee Monthly in Arrears, Maximum Percentage of Collected Rental Revenue		7.00%
VineBrook Homes, LLC [Member] | Annual Collected Rental Revenue Between 65 Million and 85 Million [Member]
Management Agreements, Property Management Fee Monthly in Arrears, Maximum Percentage of Collected Rental Revenue		6.00%
VineBrook Homes, LLC [Member] | Annual Collected Rental Revenue Above 85 Million [Member]
Management Agreements, Property Management Fee Monthly in Arrears, Maximum Percentage of Collected Rental Revenue		5.00%
The Manager [Member] | Various Expenses Paid By the Manager on Behalf of OP [Member]
Due to Related Parties, Total		$ 4,200,000	$ 600,000
NexPoint Real Estate Opportunities, LLC [Member] | NexPoint Real Estate Opportunities, LLC Note [Member]
Debt Instrument, Face Amount						$ 1,300,000

Note 12 - Related Party Trans_4

Note 12 - Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended			16 Months Ended	40 Months Ended
	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2019	Dec. 31, 2021	Dec. 31, 2018
Gross investor equity raised subject to O&O	$ 582,948				$ 174,322				$ 582,948	$ 174,322	$ 107,471	$ 107,471	$ 582,948	$ 46,623
VineBrook Homes, LLC [Member]
Fees incurred and reimbursements									39,387	19,358	11,490
O&O Expenses reimbursed for the period									39,387	19,358	11,490
VineBrook Homes, LLC [Member] | Property Management Fees [Member]
Fees incurred and reimbursements									7,115	4,478	3,190
O&O Expenses reimbursed for the period									7,115	4,478	3,190
VineBrook Homes, LLC [Member] | Acquisition Fees [Member]
Fees incurred and reimbursements									9,216	1,771	1,718
O&O Expenses reimbursed for the period									9,216	1,771	1,718
VineBrook Homes, LLC [Member] | Construction Supervision Fees [Member]
Fees incurred and reimbursements									6,739	4,194	2,081
O&O Expenses reimbursed for the period									6,739	4,194	2,081
VineBrook Homes, LLC [Member] | Payroll and Benefits Reimbursements [Member]
Fees incurred and reimbursements									15,462	8,501	4,179
O&O Expenses reimbursed for the period									15,462	8,501	4,179
VineBrook Homes, LLC [Member] | Other Reimbursements [Member]
Fees incurred and reimbursements									855	414	322
O&O Expenses reimbursed for the period									855	$ 414	$ 322
Private Placement [Member]
Gross investor equity raised subject to O&O	823,773								823,773				823,773
Private Placement [Member] | NexPoint Securities, Inc. [Member]
O&O collected and available for reimbursements													5,559
O&O available for future reimbursements	188								$ 188				188
Private Placement [Member] | NexPoint Securities, Inc. [Member] | Offering and Organizational Expenses Reimbursements [Member]
Fees incurred and reimbursements	1,198	$ 1,264	$ 944	$ 296	385	$ 175	$ 235	$ 188				686	5,371
O&O Expenses reimbursed for the period	$ 1,198	$ 1,264	$ 944	$ 296	$ 385	$ 175	$ 235	$ 188				$ 686	$ 5,371

Note 13 - Commitments and Con_2

Note 13 - Commitments and Contingencies (Details Textual) $ in Millions	Dec. 31, 2021USD ($)
Indemnification Agreement [Member]
Escrow Deposit	$ 2.6

Note 14 - Subsequent Events (De

Note 14 - Subsequent Events (Details Textual) $ / shares in Units, $ in Thousands	Feb. 14, 2022$ / shares	Feb. 08, 2022USD ($)	Jan. 25, 2022$ / shares	Feb. 22, 2022USD ($)shares	Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)shares	Dec. 31, 2021USD ($)$ / sharesshares
Number of Real Estate Properties					2			2
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares					$ 2.1204	$ 2.1204
Stock Issued During Period, Shares, New Issues (in shares) | shares					12,836,295	4,142,704	3,255,762	20,234,761
Proceeds from Issuance of Common Stock					$ 505,524	$ 124,958	$ 91,497	$ 721,979
Net Asset Value Per Share, Ending Balance (in dollars per share) | $ / shares					$ 54.14			$ 54.14
DRIP Issuance, Discount to NAV					3.00%
Private Placement [Member]
Proceeds from Issuance of Common Stock					$ 26,500
Subsequent Event [Member]
Number of Real Estate Properties				3,600
Common Stock, Dividends, Per Share, Declared (in dollars per share) | $ / shares	$ 0.1767		$ 0.1767
Stock Issued During Period, Shares, New Issues (in shares) | shares				1,498,743
Proceeds from Issuance of Common Stock				$ 79,000
Dividends Payable, Date of Record	Feb. 15, 2022		Jan. 25, 2022
Dividends Payable, Date to be Paid	Mar. 31, 2022		Mar. 31, 2022
Prager Portfolio [Member]
Asset Acquisition, Prepaid Deposit					$ 14,200			$ 14,200
Prager Portfolio [Member] | Subsequent Event [Member]
Number of Real Estate Properties Acquired		3,000
Asset Acquisition, Consideration Transferred, Total		$ 354,200
Number of Real Estate Properties		2,838
Prager Portfolio [Member] | Subsequent Event [Member] | KeyBank N.A [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 150,000
Purchase of 791 Homes [Member] | Subsequent Event [Member]
Asset Acquisition, Consideration Transferred, Total				$ 81,800
Number of Real Estate Properties				791,000,000

Note 14 - Subsequent Events - R

Note 14 - Subsequent Events - Real Estate Purchased (Details)	Feb. 08, 2022USD ($)	Feb. 22, 2022	Dec. 31, 2021
Number of homes			2
Subsequent Event [Member]
Number of homes		3,600
Subsequent Event [Member] | Prager Portfolio [Member]
Number of homes	2,838
Occupancy	85.40%
Average effective rent	$ 1,215
Subsequent Event [Member] | Memphis, TN, MS [Member] | Prager Portfolio [Member]
Number of homes	741
Occupancy	77.20%
Average effective rent	$ 1,082
Subsequent Event [Member] | Atlanta, GA [Member] | Prager Portfolio [Member]
Number of homes	739
Occupancy	91.20%
Average effective rent	$ 1,482
Subsequent Event [Member] | Saint Louis, MO [Member] | Prager Portfolio [Member]
Number of homes	308
Occupancy	68.20%
Average effective rent	$ 1,060
Subsequent Event [Member] | Pensacola, FL [Member] | Prager Portfolio [Member]
Number of homes	300
Occupancy	97.70%
Average effective rent	$ 1,287
Subsequent Event [Member] | Raeford, NC [Member] | Prager Portfolio [Member]
Number of homes	250
Occupancy	95.60%
Average effective rent	$ 1,105
Subsequent Event [Member] | Kansas City, MO [Member] | Prager Portfolio [Member]
Number of homes	230
Occupancy	87.40%
Average effective rent	$ 1,090
Subsequent Event [Member] | Portales, NM [Member] | Prager Portfolio [Member]
Number of homes	150
Occupancy	84.70%
Average effective rent	$ 1,070
Subsequent Event [Member] | Augusta, Aiken, GA, SC [Member] | Prager Portfolio [Member]
Number of homes	67
Occupancy	85.10%
Average effective rent	$ 962
Subsequent Event [Member] | Jacksonville, FL [Member] | Prager Portfolio [Member]
Number of homes	53
Occupancy	98.10%
Average effective rent	$ 1,043

Schedule III - Real Estate an_3

Schedule III - Real Estate and Accumulated Depreciation (Details Textual) $ in Billions	12 Months Ended
	Dec. 31, 2021USD ($)
Real Estate Gross at Carrying Value, Subject to Federal Income Tax	$ 1.7
Building and Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment, Useful Life (Year)	3 years
Building and Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment, Useful Life (Year)	27 years 6 months

Schedule III - Real Estate an_4

Schedule III - Real Estate and Accumulated Depreciation - Real Estate and Accumulated Depreciation (Details) $ in Thousands		12 Months Ended
		Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Total		$ 1,726,948	$ 754,467	$ 521,084	$ 335,306
Accumulated depreciation and amortization		(76,789)	$ (34,396)	$ (15,391)	$ (3,027)
Net Real Estate, December 31, 2021		$ 1,650,240
Operating Homes [Member]
Number of homes		16,889
Gross cost basis encumbered		$ 1,402,266
Initial cost, land		334,191
Initial cost, buildings and improvements	[1]	1,203,615
Costs capitalized subsequent to acquisition		189,142
Land	[2]	334,191
Buildings and improvements	[1],[2]	1,392,757
Total	[2]	1,726,948
Accumulated depreciation and amortization		(76,789)
Net Real Estate, December 31, 2021		$ 1,650,159
Operating Homes [Member] | Cincinnati [Member]
Number of homes		3,031
Gross cost basis encumbered		$ 278,451
Initial cost, land		74,313
Initial cost, buildings and improvements	[1]	200,979
Costs capitalized subsequent to acquisition		34,066
Land	[2]	74,313
Buildings and improvements	[1],[2]	235,045
Total	[2]	309,358
Accumulated depreciation and amortization		(20,319)
Net Real Estate, December 31, 2021		$ 289,039
Operating Homes [Member] | Dayton [Member]
Number of homes		2,742
Gross cost basis encumbered		$ 190,323
Initial cost, land		49,325
Initial cost, buildings and improvements	[1]	145,746
Costs capitalized subsequent to acquisition		22,677
Land	[2]	49,325
Buildings and improvements	[1],[2]	168,423
Total	[2]	217,748
Accumulated depreciation and amortization		(15,986)
Net Real Estate, December 31, 2021		$ 201,762
Operating Homes [Member] | Columbus [Member]
Number of homes		1,499
Gross cost basis encumbered		$ 138,479
Initial cost, land		35,969
Initial cost, buildings and improvements	[1]	92,683
Costs capitalized subsequent to acquisition		23,020
Land	[2]	35,969
Buildings and improvements	[1],[2]	115,703
Total	[2]	151,672
Accumulated depreciation and amortization		(10,873)
Net Real Estate, December 31, 2021		$ 140,799
Operating Homes [Member] | St. Louis [Member]
Number of homes		1,696
Gross cost basis encumbered		$ 105,378
Initial cost, land		26,172
Initial cost, buildings and improvements	[1]	110,486
Costs capitalized subsequent to acquisition		23,831
Land	[2]	26,172
Buildings and improvements	[1],[2]	134,317
Total	[2]	160,489
Accumulated depreciation and amortization		(5,222)
Net Real Estate, December 31, 2021		$ 155,267
Operating Homes [Member] | Indianapolis [Member]
Number of homes		1,308
Gross cost basis encumbered		$ 121,679
Initial cost, land		21,526
Initial cost, buildings and improvements	[1]	113,716
Costs capitalized subsequent to acquisition		13,439
Land	[2]	21,526
Buildings and improvements	[1],[2]	127,155
Total	[2]	148,681
Accumulated depreciation and amortization		(5,615)
Net Real Estate, December 31, 2021		$ 143,066
Operating Homes [Member] | Birmingham [Member]
Number of homes		814
Gross cost basis encumbered		$ 98,879
Initial cost, land		17,610
Initial cost, buildings and improvements	[1]	84,585
Costs capitalized subsequent to acquisition		2,551
Land	[2]	17,610
Buildings and improvements	[1],[2]	87,136
Total	[2]	104,746
Accumulated depreciation and amortization		(2,922)
Net Real Estate, December 31, 2021		$ 101,824
Operating Homes [Member] | Columbia [Member]
Number of homes		784
Gross cost basis encumbered		$ 93,815
Initial cost, land		17,388
Initial cost, buildings and improvements	[1]	83,983
Costs capitalized subsequent to acquisition		2,221
Land	[2]	17,388
Buildings and improvements	[1],[2]	86,204
Total	[2]	103,592
Accumulated depreciation and amortization		(2,782)
Net Real Estate, December 31, 2021		$ 100,810
Operating Homes [Member] | Kansas City [Member]
Number of homes		742
Gross cost basis encumbered		$ 76,830
Initial cost, land		12,316
Initial cost, buildings and improvements	[1]	58,373
Costs capitalized subsequent to acquisition		14,098
Land	[2]	12,316
Buildings and improvements	[1],[2]	72,471
Total	[2]	84,787
Accumulated depreciation and amortization		(2,534)
Net Real Estate, December 31, 2021		$ 82,253
Operating Homes [Member] | Jackson [Member]
Number of homes		789
Gross cost basis encumbered		$ 48,522
Initial cost, land		18,853
Initial cost, buildings and improvements	[1]	49,752
Costs capitalized subsequent to acquisition		8,702
Land	[2]	18,853
Buildings and improvements	[1],[2]	58,454
Total	[2]	77,307
Accumulated depreciation and amortization		(1,413)
Net Real Estate, December 31, 2021		$ 75,894
Operating Homes [Member] | Memphis [Member]
Number of homes		626
Gross cost basis encumbered		$ 42,905
Initial cost, land		8,364
Initial cost, buildings and improvements	[1]	32,088
Costs capitalized subsequent to acquisition		15,137
Land	[2]	8,364
Buildings and improvements	[1],[2]	47,225
Total	[2]	55,589
Accumulated depreciation and amortization		(2,351)
Net Real Estate, December 31, 2021		$ 53,238
Operating Homes [Member] | Augusta [Member]
Number of homes		555
Gross cost basis encumbered		$ 48,387
Initial cost, land		12,600
Initial cost, buildings and improvements	[1]	47,895
Costs capitalized subsequent to acquisition		2,296
Land	[2]	12,600
Buildings and improvements	[1],[2]	50,191
Total	[2]	62,791
Accumulated depreciation and amortization		(1,324)
Net Real Estate, December 31, 2021		$ 61,467
Operating Homes [Member] | Milwaukee [Member]
Number of homes		655
Gross cost basis encumbered		$ 45,270
Initial cost, land		9,355
Initial cost, buildings and improvements	[1]	48,976
Costs capitalized subsequent to acquisition		11,611
Land	[2]	9,355
Buildings and improvements	[1],[2]	60,587
Total	[2]	69,942
Accumulated depreciation and amortization		(1,473)
Net Real Estate, December 31, 2021		$ 68,469
Operating Homes [Member] | Pittsburgh [Member]
Number of homes		401
Gross cost basis encumbered		$ 25,470
Initial cost, land		7,898
Initial cost, buildings and improvements	[1]	22,550
Costs capitalized subsequent to acquisition		4,759
Land	[2]	7,898
Buildings and improvements	[1],[2]	27,309
Total	[2]	35,207
Accumulated depreciation and amortization		(1,007)
Net Real Estate, December 31, 2021		$ 34,200
Operating Homes [Member] | Greenville [Member]
Number of homes		253
Gross cost basis encumbered		$ 27,702
Initial cost, land		4,998
Initial cost, buildings and improvements	[1]	28,591
Costs capitalized subsequent to acquisition		1,159
Land	[2]	4,998
Buildings and improvements	[1],[2]	29,750
Total	[2]	34,748
Accumulated depreciation and amortization		(872)
Net Real Estate, December 31, 2021		$ 33,876
Operating Homes [Member] | Little Rock [Member]
Number of homes		286
Gross cost basis encumbered		$ 10,584
Initial cost, land		4,704
Initial cost, buildings and improvements	[1]	16,169
Costs capitalized subsequent to acquisition		3,036
Land	[2]	4,704
Buildings and improvements	[1],[2]	19,205
Total	[2]	23,909
Accumulated depreciation and amortization		(389)
Net Real Estate, December 31, 2021		$ 23,520
Operating Homes [Member] | Huntsville [Member]
Number of homes		180
Gross cost basis encumbered		$ 17,865
Initial cost, land		3,631
Initial cost, buildings and improvements	[1]	18,707
Costs capitalized subsequent to acquisition		977
Land	[2]	3,631
Buildings and improvements	[1],[2]	19,684
Total	[2]	23,315
Accumulated depreciation and amortization		(485)
Net Real Estate, December 31, 2021		$ 22,830
Operating Homes [Member] | Omaha [Member]
Number of homes		206
Gross cost basis encumbered		$ 8,681
Initial cost, land		2,235
Initial cost, buildings and improvements	[1]	18,673
Costs capitalized subsequent to acquisition		2,593
Land	[2]	2,235
Buildings and improvements	[1],[2]	21,266
Total	[2]	23,501
Accumulated depreciation and amortization		(554)
Net Real Estate, December 31, 2021		$ 22,947
Operating Homes [Member] | Triad [Member]
Number of homes		161
Gross cost basis encumbered		$ 13,491
Initial cost, land		3,894
Initial cost, buildings and improvements	[1]	16,310
Costs capitalized subsequent to acquisition		1,432
Land	[2]	3,894
Buildings and improvements	[1],[2]	17,742
Total	[2]	21,636
Accumulated depreciation and amortization		(418)
Net Real Estate, December 31, 2021		$ 21,218
Operating Homes [Member] | Montgomery [Member]
Number of homes		161
Gross cost basis encumbered		$ 9,555
Initial cost, land		3,040
Initial cost, buildings and improvements	[1]	13,353
Costs capitalized subsequent to acquisition		1,537
Land	[2]	3,040
Buildings and improvements	[1],[2]	14,890
Total	[2]	17,930
Accumulated depreciation and amortization		(250)
Net Real Estate, December 31, 2021		$ 17,680
Homes Held for Sale [Member]
Number of homes		2
Gross cost basis encumbered		$ 0
Initial cost, land		13
Initial cost, buildings and improvements	[1]	68
Costs capitalized subsequent to acquisition		0
Land	[2]	13
Buildings and improvements	[1],[2]	68
Total	[2]	81
Net Real Estate, December 31, 2021		$ 81
Operating Homes and Homes Held for Sale [Member]
Number of homes		16,891
Gross cost basis encumbered		$ 1,402,266
Initial cost, land		334,204
Initial cost, buildings and improvements	[1]	1,203,683
Costs capitalized subsequent to acquisition		189,142
Land	[2]	334,204
Buildings and improvements	[1],[2]	1,392,825
Total	[2]	1,727,029
Accumulated depreciation and amortization		(76,789)
Net Real Estate, December 31, 2021		$ 1,650,240
[1]	Balances include intangible lease assets.
[2]	The unaudited aggregate cost of consolidated real estate in the table above for federal income tax purposes was approximately $1.7 billion as of December 31, 2021.

Schedule III - Real Estate an_5

Schedule III - Real Estate and Accumulated Depreciation - Changes in Real Estate Assets (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Balance, beginning of year		$ 754,467	$ 521,084	$ 335,306
Acquisitions and building improvements		978,661	234,825	189,495
Write-offs		(6,180)	(1,442)	(3,717)
Balance, end of year		1,726,948	754,467	521,084
Balance, beginning of year		34,396	15,391	3,027
Depreciation expense (1)	[1]	42,312	19,304	12,999
Amortization expense		6,261	1,143	3,082
Write-offs		(6,180)	(1,442)	(3,717)
Balance, end of year		$ 76,789	$ 34,396	$ 15,391
[1]	Depreciation of buildings and improvements is computed on a straight-line basis over estimated useful lives ranging from 3 to 27.5 years.