American Homes 4 Rent 10-K

ITEM 2. PROPERTIES The following table summarizes certain key single-family properties metrics as of December 31, 2024: 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 6,027 10.0 % $ 1,419.8 10.2 % $ 235,586 2,196 17.3 2017 Charlotte, NC 4,258 7.0 % 978.7 7.0 % 229,833 2,119 18.3 2016 Dallas-Fort Worth, TX 3,870 6.4 % 689.9 5.0 % 178,281 2,086 20.5 2014 Phoenix, AZ 3,311 5.5 % 731.5 5.3 % 220,968 1,848 19.6 2016 Nashville, TN 3,370 5.6 % 863.2 6.2 % 256,144 2,122 16.4 2016 Jacksonville, FL 3,297 5.4 % 751.9 5.4 % 228,092 1,925 14.4 2016 Tampa, FL 2,964 4.9 % 720.8 5.2 % 243,244 1,949 15.1 2016 Indianapolis, IN 3,054 5.0 % 555.8 4.0 % 181,981 1,937 21.6 2015 Houston, TX 2,421 4.0 % 442.2 3.2 % 182,667 2,068 19.0 2015 Las Vegas, NV 2,550 4.2 % 784.2 5.6 % 307,535 1,960 10.9 2018 Raleigh, NC 2,223 3.7 % 453.1 3.3 % 203,831 1,893 18.3 2015 Columbus, OH 2,181 3.6 % 441.6 3.2 % 202,517 1,890 21.5 2015 Cincinnati, OH 2,107 3.5 % 421.0 3.0 % 199,826 1,843 21.9 2014 Orlando, FL 2,126 3.5 % 505.8 3.6 % 237,928 1,928 17.0 2016 Salt Lake City, UT 1,937 3.2 % 596.4 4.3 % 307,912 2,244 17.8 2016 Charleston, SC 1,616 2.7 % 388.0 2.8 % 240,168 1,964 13.2 2017 Greater Chicago area, IL and IN 1,523 2.5 % 295.3 2.1 % 193,875 1,868 23.3 2013 San Antonio, TX 1,222 2.0 % 246.9 1.8 % 202,129 1,914 15.8 2016 Savannah/Hilton Head, SC 1,056 1.7 % 228.1 1.6 % 216,039 1,886 16.1 2017 Seattle, WA 1,014 1.7 % 344.6 2.5 % 339,864 2,010 14.4 2017 All Other (2) 8,404 13.9 % 2,070.7 14.7 % 246,395 1,922 17.3 2016 Total/Average 60,531 100.0 % $ 13,929.5 100.0 % $ 230,121 1,996 17.7 2016 (1) Excludes 805 single-family properties held for sale as of December 31, 2024. (2) Represents 17 markets in 16 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.