American Homes 4 Rent 10-K

ITEM 2. PROPERTIES The following table summarizes certain key single-family properties metrics as of December 31, 2023: Market Number of Single-Family Properties (1) % of Total Single-Family Properties Gross Book Value (millions) % of Gross Book Value Total Avg. Gross Book Value per Property Avg. Sq. Ft. Avg. Property Age (years) Avg. Year Purchased or Delivered Atlanta, GA 5,853 10.0 % $ 1,311.0 10.2 % $ 223,985 2,174 17.3 2016 Dallas-Fort Worth, TX 4,055 6.9 % 711.5 5.5 % 175,469 2,095 19.5 2014 Charlotte, NC 4,089 7.0 % 899.9 7.0 % 220,086 2,110 17.7 2015 Phoenix, AZ 3,364 5.8 % 718.5 5.6 % 213,588 1,841 19.2 2016 Nashville, TN 3,319 5.7 % 823.0 6.4 % 247,960 2,117 16.1 2016 Jacksonville, FL 3,101 5.3 % 676.1 5.2 % 218,020 1,928 14.4 2016 Indianapolis, IN 2,848 4.9 % 495.1 3.8 % 173,841 1,927 20.9 2014 Tampa, FL 2,901 5.0 % 673.6 5.2 % 232,187 1,948 15.2 2016 Houston, TX 2,402 4.1 % 427.5 3.3 % 177,995 2,082 18.1 2014 Raleigh, NC 2,179 3.7 % 434.3 3.4 % 199,320 1,889 17.7 2015 Cincinnati, OH 2,127 3.6 % 418.9 3.3 % 196,952 1,842 21.0 2014 Columbus, OH 2,154 3.7 % 421.5 3.3 % 195,675 1,880 21.0 2015 Las Vegas, NV 2,169 3.7 % 618.8 4.8 % 285,270 1,937 11.7 2017 Salt Lake City, UT 1,901 3.3 % 579.1 4.5 % 304,605 2,245 17.2 2016 Orlando, FL 1,999 3.4 % 437.6 3.4 % 218,923 1,911 18.3 2016 Greater Chicago area, IL and IN 1,541 2.6 % 294.5 2.3 % 191,105 1,865 22.3 2013 Charleston, SC 1,535 2.6 % 352.2 2.7 % 229,471 1,962 13.0 2017 San Antonio, TX 1,263 2.2 % 249.2 1.9 % 197,277 1,919 14.9 2015 Seattle, WA 1,161 2.0 % 383.8 3.0 % 330,534 2,006 13.6 2017 Savannah/Hilton Head, SC 1,051 1.8 % 222.0 1.7 % 211,204 1,887 15.2 2016 All Other (2) 7,458 12.7 % 1,737.6 13.5 % 232,983 1,912 17.8 2015 Total/Average 58,470 100.0 % $ 12,885.7 100.0 % $ 220,381 1,992 17.5 2015 (1) Excludes 862 single-family properties held for sale as of December 31, 2023. (2) Represents 15 markets in 13 states. For details on material encumbrances on our properties, see “Schedule III—Real Estate and Accumulated Depreciation” included in Part IV, “Item 15. Exhibit and Financial Statement Schedules” of this Annual Report on Form 10-K. Property and Management We own commercial real estate in Las Vegas, Nevada, which serves as our principal executive offices. We also lease commercial office space in Calabasas, California, where certain corporate functions are located, as well as an additional 26 locations in 16 states for other operational and development personnel.