American Homes 4 Rent

What American Homes 4 Rent does

American Homes 4 Rent (NYSE: AMH) is a Maryland-incorporated real estate investment trust that acquires, develops, and operates a portfolio of more than 59,000 single-family rental homes across 21 states, primarily in Sunbelt, Midwest, and West Coast markets. The company serves individual households and families seeking professionally managed single-family rentals as an alternative to homeownership in supply-constrained or high-cost housing markets, and generates recurring monthly rental income through direct-to-consumer leasing via its website (amh.com), call center, and on-site property management teams. Its core platform consists of AMH Living/AMH Homes (the rental product), the 4Residents portal (online payments and maintenance requests), the Let Yourself In smart-lock access system, and AMH Development, a vertically integrated build-for-rent construction program that delivered over 2,300 new homes in 2025.

AMH makes money primarily through monthly rental income on its owned single-family home portfolio, with FY2025 revenue of $1.9 billion (up 8% year-over-year), $439 million in net income, a 27% net margin, and 95%+ same-home occupancy. The business model is asset-heavy and capital-intensive, funded through a mix of investment-grade debt (BBB-rated, with over $3.15 billion in senior notes priced between 2022 and 2025, including a $600 million green bond) and equity capital markets, with a dividend yield of approximately 4.51% and five consecutive years of double-digit dividend growth. The company is transitioning from an acquisition-led growth model to a development-led one through AMH Development, a strategic pivot accelerated by the January 2026 announcement of potential federal restrictions on large institutional purchases of single-family homes. Leadership is provided by CEO Bryan Smith, and the company reported 2026 Core FFO guidance of $1.89–$1.95 per share against 2025 actual of $1.87 per share.

Name

American Homes 4 Rent

Legal name

American Homes 4 Rent, LP

Website

https://americanhomes4rent.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

American Homes 4 Rent is a publicly traded REIT (NYSE: AMH) that owns and operates more than 59,000 single-family rental homes across 21 states, serving individual households and families through a direct-to-consumer leasing platform and a vertically integrated build-for-rent development program.

Ownership category

akta.pro rank

Product category

Single-Family Rental Housing

NAICS

New Single-Family Housing Construction (except For-Sale Builders) (236115)

SIC

Services-To Dwellings & Other Buildings (7340)

akta.pro primary industry

Single-Family Rental (SFR) Property Management (BPAJAFAB)

Keywords

• Single-family rentals
• Residential real estate
• Property management
• Build-to-rent development
• REIT operations

Headquarters

HQ city

Agoura Hills

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Others, Marketing or Sales, Technology or R&D

Revenue model

1. Single-Family Residential Rentals: Primary revenue stream from renting single-family homes to individual households. The company owns and manages over 59,000 homes across 21 states, generating recurring monthly rental income. Revenue grew 8% year-over-year to $1.9 billion in FY2025.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels8 records

Core offering

American Homes 4 Rent (AMH) owns, manages, and develops single-family homes for rent across 21 states in the United States, operating a portfolio of over 59,000 homes that generates recurring monthly rental income from individual and family tenants. The vertically integrated platform combines large-scale home ownership, in-house property management and maintenance, and a build-to-rent development program that constructs new homes specifically for the rental portfolio rather than relying solely on acquisitions. Revenue is generated primarily through monthly residential leases marketed directly to consumers through the company's website, call center, and on-site offices.

Product overview

American Homes 4 Rent (AMH) is a single-family rental real estate investment trust (REIT) that operates a vertically integrated platform consisting of over 59,000 rental homes across 21 states. The core offering is AMH Living / AMH Homes, providing residents with detached single-family homes for lease. Supporting the core rental business, AMH offers technology-enabled resident services through the 4Residents® platform (for maintenance requests and online payments) and the Let Yourself In® smart home access system. The company also operates AMH Development®, a build-for-rent program that constructs new homes to expand the portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Let Yourself In: Brand for the company's keyless entry and smart home technology program for residents
• AMH Development

Products and services

• AMH Homes / AMH Living (Single-Family Rental Residences) Single-family detached residential rental homes leased directly to individual households and families across 21 states, marketed under AMH Homes / AMH Living and related DBA brands and supported by in-house property management, maintenance, the Let Yourself In® smart lock system, and the 4Residents® online portal.
• AMH Development® (Build-to-Rent Development Program) Vertically integrated build-to-rent development program that constructs new single-family homes for the AMH rental portfolio, delivering 539-2,300+ newly built homes annually (over 2,300 in 2025) with planned 2026 capital deployment of approximately $750 million to add approximately 1,900 new homes.

Quantifiable outcome

• 95%+ same-home occupancy rate
• +3 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Invitation Homes: Invitation Homes is the largest publicly traded single-family rental REIT (NYSE: INVH), operating ~85,000 homes across the U.S. It is the closest direct competitor to AMH in SFR property acquisition, build-to-rent development, and resident services technology.
• Tricon Residential: Tricon Residential (NYSE: TCN, now under Blackstone acquisition) operates approximately 38,000 single-family rental homes in the U.S. and Canada, with a vertically integrated SFR platform that directly competes with AMH's acquisition and development programs.
• Progress Residential: Progress Residential is one of the largest private SFR operators (~85,000 homes) and a direct competitor to AMH in the institutional single-family rental space, with similar Sunbelt concentration and resident-facing technology offerings.
• FirstKey Homes: FirstKey Homes is a major private single-family rental operator (~40,000+ homes), spun out of Cerberus Capital Management. It directly competes with AMH in Sunbelt and Midwest rental markets with comparable resident service platforms.
• Pretium Partners: Pretium is a large alternative asset manager with significant SFR exposure via Pretium SFR, including ownership of Front Yard Residential. It is a direct competitor in institutional SFR investing, build-to-rent development, and rental housing at scale.

Emerging players

• JLL Income Property Trust: JLL Income Property Trust is a non-traded REIT that includes single-family rental and multifamily exposure. While smaller and more diversified than AMH, it overlaps in Sunbelt rental housing as an institutional investor.
• NexPoint Residential Trust: NexPoint Residential Trust (NYSE: NXRT) is a smaller REIT focused on multifamily (Class B) value-add housing in Sunbelt markets. It is comparable to AMH in its Sunbelt geographic focus and institutional landlord model, though primarily multifamily rather than single-family.
• American Realty Investors: American Realty Investors (NYSE: ARL) is a smaller real estate company with multifamily and single-family rental exposure. It is comparable as an institutional residential landlord, though smaller and less specialized in SFR than AMH.

Broad incumbents

• Mid-America Apartment Communities: MAA (NYSE: MAA) is the largest U.S. multifamily REIT, with Sunbelt concentration and an institutional landlord model that overlaps with AMH's strategy and geography, though focused on garden-style apartments rather than detached single-family homes.
• Blackstone Real Estate Income Trust: BREIT is the largest non-traded real estate investment trust, with massive exposure to single-family rental housing (via Tricon, Home Partners of America, and other vehicles). It is a broad incumbent that competes with AMH for institutional SFR assets and capital.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@amhliving
• Facebookfacebook.com/amhlivingusa
• LinkedInlinkedin.com/company/american-homes-4-rent
• Instagraminstagram.com/amhcorporate

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about American Homes 4 Rent