<?xml version="1.0" encoding="utf-8"?>
<!--XBRL document created with Toppan Merrill Bridge  11.3.0.1 -->
<!--Based on XBRL 2.1-->
<!--Created on: 5/7/2026 2:14:16 PM-->
<!--Modified on: 5/7/2026 2:14:16 PM-->
<link:linkbase xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.xbrl.org/2003/linkbase http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance">
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#StatementConsolidatedBalanceSheets" roleURI="http://bluerockhomes.com/role/StatementConsolidatedBalanceSheets" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#StatementConsolidatedStatementsOfOperationsAndComprehensiveIncomeCalc2" roleURI="http://bluerockhomes.com/role/StatementConsolidatedStatementsOfOperationsAndComprehensiveIncomeCalc2" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#StatementConsolidatedStatementsOfOperationsAndComprehensiveIncomeLoss" roleURI="http://bluerockhomes.com/role/StatementConsolidatedStatementsOfOperationsAndComprehensiveIncomeLoss" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#StatementConsolidatedStatementsOfCashFlows" roleURI="http://bluerockhomes.com/role/StatementConsolidatedStatementsOfCashFlows" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureBasisOfPresentationAndSummaryOfSignificantAccountingPoliciesIntangibleAssetsDetails" roleURI="http://bluerockhomes.com/role/DisclosureBasisOfPresentationAndSummaryOfSignificantAccountingPoliciesIntangibleAssetsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureBasisOfPresentationAndSummaryOfSignificantAccountingPoliciesEstimatedFutureAmortizationExpenseDetails" roleURI="http://bluerockhomes.com/role/DisclosureBasisOfPresentationAndSummaryOfSignificantAccountingPoliciesEstimatedFutureAmortizationExpenseDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureAcquisitionOfRealEstateAssetsAcquiredDetails" roleURI="http://bluerockhomes.com/role/DisclosureAcquisitionOfRealEstateAssetsAcquiredDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureInvestmentInUnconsolidatedRealEstateFundSummaryCombinedFinancialInformationDetails" roleURI="http://bluerockhomes.com/role/DisclosureInvestmentInUnconsolidatedRealEstateFundSummaryCombinedFinancialInformationDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosurePreferredEquityInvestmentsDetails" roleURI="http://bluerockhomes.com/role/DisclosurePreferredEquityInvestmentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosurePreferredEquityInvestmentsContractualMaturityDetails" roleURI="http://bluerockhomes.com/role/DisclosurePreferredEquityInvestmentsContractualMaturityDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureMortgagesPayableContractualPrincipalPaymentsDetails" roleURI="http://bluerockhomes.com/role/DisclosureMortgagesPayableContractualPrincipalPaymentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureCommitmentsAndContingenciesOperatingLeaseFutureMinimumPaymentsDetails" roleURI="http://bluerockhomes.com/role/DisclosureCommitmentsAndContingenciesOperatingLeaseFutureMinimumPaymentsDetails" xmlns="http://www.xbrl.org/2003/linkbase" />
  <roleRef xlink:type="simple" xlink:href="bhm-20260331.xsd#DisclosureCommitmentsAndContingenciesOperatingLeaseFutureMinimumPaymentsDetailsCalc2" roleURI="http://bluerockhomes.com/role/DisclosureCommitmentsAndContingenciesOperatingLeaseFutureMinimumPaymentsDetailsCalc2" xmlns="http://www.xbrl.org/2003/linkbase" />
  <link:arcroleRef arcroleURI="https://xbrl.org/2023/arcrole/summation-item" xlink:type="simple" xlink:href="https://www.xbrl.org/2023/calculation-1.1.xsd#summation-item" />
  <calculationLink xlink:role="http://bluerockhomes.com/role/StatementConsolidatedBalanceSheets" xlink:type="extended" xlink:title="995200100 - Statement - CONSOLIDATED BALANCE SHEETS" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Assets" xlink:label="Assets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_639137600514709506" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_639137600514709506" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherIntangibleAssetsNet" xlink:label="us-gaap_OtherIntangibleAssetsNet_639137600514709506" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_OtherIntangibleAssetsNet_639137600514709506" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherReceivables" xlink:label="us-gaap_OtherReceivables_639137600514709506" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_OtherReceivables_639137600514709506" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_NonRealEstateHeldForSale" xlink:label="bhm_NonRealEstateHeldForSale_639137600514709506" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="bhm_NonRealEstateHeldForSale_639137600514709506" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss" xlink:label="us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss_639137600514709506" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss_639137600514709506" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestments" xlink:label="us-gaap_EquityMethodInvestments_639137600514709506" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_EquityMethodInvestments_639137600514709506" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="us-gaap_RestrictedCashAndCashEquivalents_639137600514714691" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_RestrictedCashAndCashEquivalents_639137600514714691" order="7" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsAndOtherReceivablesNetCurrent" xlink:label="us-gaap_AccountsAndOtherReceivablesNetCurrent_639137600514715643" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_AccountsAndOtherReceivablesNetCurrent_639137600514715643" order="8" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateInvestments" xlink:label="us-gaap_RealEstateInvestments_639137600514715643" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="Assets" xlink:to="us-gaap_RealEstateInvestments_639137600514715643" order="9" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_OperatingRealEstateLandHeldForSale" xlink:label="bhm_OperatingRealEstateLandHeldForSale_639137600514715643" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateInvestments_639137600514715643" xlink:to="bhm_OperatingRealEstateLandHeldForSale_639137600514715643" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet" xlink:label="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_639137600514715643" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateInvestments_639137600514715643" xlink:to="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_639137600514715643" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateAccumulatedDepreciation" xlink:label="us-gaap_RealEstateAccumulatedDepreciation_639137600514715643" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_639137600514715643" xlink:to="us-gaap_RealEstateAccumulatedDepreciation_639137600514715643" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RealEstateGrossAtCarryingValue" xlink:label="us-gaap_RealEstateGrossAtCarryingValue_639137600514715643" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_SECScheduleIIIRealEstateInvestmentPropertyNet_639137600514715643" xlink:to="us-gaap_RealEstateGrossAtCarryingValue_639137600514715643" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FurnitureAndFixturesGross" xlink:label="us-gaap_FurnitureAndFixturesGross_639137600514721299" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateGrossAtCarryingValue_639137600514715643" xlink:to="us-gaap_FurnitureAndFixturesGross_639137600514721299" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionInProgressGross" xlink:label="us-gaap_ConstructionInProgressGross_639137600514721299" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateGrossAtCarryingValue_639137600514715643" xlink:to="us-gaap_ConstructionInProgressGross_639137600514721299" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_BuildingsAndImprovementsGross" xlink:label="us-gaap_BuildingsAndImprovementsGross_639137600514721299" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateGrossAtCarryingValue_639137600514715643" xlink:to="us-gaap_BuildingsAndImprovementsGross_639137600514721299" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Land" xlink:label="us-gaap_Land_639137600514721299" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_RealEstateGrossAtCarryingValue_639137600514715643" xlink:to="us-gaap_Land_639137600514721299" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities_639137600514726485" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_Liabilities_639137600514726485" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtNoncurrent" xlink:label="us-gaap_LongTermDebtNoncurrent_639137600514726966" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639137600514726485" xlink:to="us-gaap_LongTermDebtNoncurrent_639137600514726966" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccountsPayableCurrentAndNoncurrent" xlink:label="us-gaap_AccountsPayableCurrentAndNoncurrent_639137600514726966" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639137600514726485" xlink:to="us-gaap_AccountsPayableCurrentAndNoncurrent_639137600514726966" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccruedLiabilitiesCurrentAndNoncurrent" xlink:label="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_639137600514726966" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639137600514726485" xlink:to="us-gaap_AccruedLiabilitiesCurrentAndNoncurrent_639137600514726966" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DistributionPayable" xlink:label="us-gaap_DistributionPayable_639137600514726966" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639137600514726485" xlink:to="us-gaap_DistributionPayable_639137600514726966" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_OperatingRealEstateHeldForSaleLiability" xlink:label="bhm_OperatingRealEstateHeldForSaleLiability_639137600514732148" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639137600514726485" xlink:to="bhm_OperatingRealEstateHeldForSaleLiability_639137600514732148" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherLiabilities" xlink:label="us-gaap_OtherLiabilities_639137600514733104" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Liabilities_639137600514726485" xlink:to="us-gaap_OtherLiabilities_639137600514733104" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RedeemableNoncontrollingInterestEquityPreferredCarryingAmount" xlink:label="us-gaap_RedeemableNoncontrollingInterestEquityPreferredCarryingAmount_639137600514733581" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_RedeemableNoncontrollingInterestEquityPreferredCarryingAmount_639137600514733581" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639137600514733581" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639137600514733581" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterest" xlink:label="us-gaap_MinorityInterest_639137600514733581" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639137600514733581" xlink:to="us-gaap_MinorityInterest_639137600514733581" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_NoncontrollingInterestInPartiallyOwnedProperties" xlink:label="bhm_NoncontrollingInterestInPartiallyOwnedProperties_639137600514733581" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_MinorityInterest_639137600514733581" xlink:to="bhm_NoncontrollingInterestInPartiallyOwnedProperties_639137600514733581" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MinorityInterestInOperatingPartnerships" xlink:label="us-gaap_MinorityInterestInOperatingPartnerships_639137600514738763" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_MinorityInterest_639137600514733581" xlink:to="us-gaap_MinorityInterestInOperatingPartnerships_639137600514738763" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_StockholdersEquity" xlink:label="us-gaap_StockholdersEquity_639137600514739229" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest_639137600514733581" xlink:to="us-gaap_StockholdersEquity_639137600514739229" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AdditionalPaidInCapital" xlink:label="us-gaap_AdditionalPaidInCapital_639137600514739229" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639137600514739229" xlink:to="us-gaap_AdditionalPaidInCapital_639137600514739229" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RetainedEarningsAccumulatedDeficit" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_639137600514739229" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639137600514739229" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_639137600514739229" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax" xlink:label="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_639137600514739229" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639137600514739229" xlink:to="us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax_639137600514739229" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CommonStockValue" xlink:label="us-gaap_CommonStockValue_639137600514744888" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639137600514739229" xlink:to="us-gaap_CommonStockValue_639137600514744888" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockValue" xlink:label="us-gaap_PreferredStockValue_639137600514744888" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_StockholdersEquity_639137600514739229" xlink:to="us-gaap_PreferredStockValue_639137600514744888" order="5" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/StatementConsolidatedStatementsOfOperationsAndComprehensiveIncomeCalc2" xlink:type="extended" xlink:title="00200 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (calc 2)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:label="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639137600514744888" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639137600514744888" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_639137600514750556" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest" xlink:to="us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_639137600514750556" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/StatementConsolidatedStatementsOfOperationsAndComprehensiveIncomeLoss" xlink:type="extended" xlink:title="995200200 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ComprehensiveIncomeNetOfTax" xlink:label="us-gaap_ComprehensiveIncomeNetOfTax" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic" xlink:label="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_639137600514750556" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_639137600514750556" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_639137600514750556" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_639137600514750556" xlink:to="us-gaap_ProfitLoss_639137600514750556" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_639137600514750556" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_639137600514750556" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_639137600514750556" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Revenues" xlink:label="us-gaap_Revenues_639137600514750556" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_639137600514750556" xlink:to="us-gaap_Revenues_639137600514750556" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_639137600514755742" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Revenues_639137600514750556" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_639137600514755742" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeOperating" xlink:label="us-gaap_InterestIncomeOperating_639137600514756215" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Revenues_639137600514750556" xlink:to="us-gaap_InterestIncomeOperating_639137600514756215" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OperatingExpenses" xlink:label="us-gaap_OperatingExpenses_639137600514756215" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_639137600514750556" xlink:to="us-gaap_OperatingExpenses_639137600514756215" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OperatingCostsAndExpenses" xlink:label="us-gaap_OperatingCostsAndExpenses_639137600514756215" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="us-gaap_OperatingCostsAndExpenses_639137600514756215" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_PropertyManagementFeeExpense" xlink:label="bhm_PropertyManagementFeeExpense_639137600514756215" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="bhm_PropertyManagementFeeExpense_639137600514756215" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GeneralAndAdministrativeExpense" xlink:label="us-gaap_GeneralAndAdministrativeExpense_639137600514756215" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="us-gaap_GeneralAndAdministrativeExpense_639137600514756215" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_ManagementFeesRelatedParty" xlink:label="bhm_ManagementFeesRelatedParty_639137600514761403" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="bhm_ManagementFeesRelatedParty_639137600514761403" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AcquisitionCosts" xlink:label="us-gaap_AcquisitionCosts_639137600514761883" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="us-gaap_AcquisitionCosts_639137600514761883" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_LossFromCatastrophe" xlink:label="bhm_LossFromCatastrophe_639137600514761883" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="bhm_LossFromCatastrophe_639137600514761883" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="us-gaap_ImpairmentOfRealEstate_639137600514761883" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="us-gaap_ImpairmentOfRealEstate_639137600514761883" order="7" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DepreciationAndAmortization" xlink:label="us-gaap_DepreciationAndAmortization_639137600514761883" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OperatingExpenses_639137600514756215" xlink:to="us-gaap_DepreciationAndAmortization_639137600514761883" order="8" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NonoperatingIncomeExpense" xlink:label="us-gaap_NonoperatingIncomeExpense_639137600514761883" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_639137600514750556" xlink:to="us-gaap_NonoperatingIncomeExpense_639137600514761883" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherNonoperatingIncomeExpense" xlink:label="us-gaap_OtherNonoperatingIncomeExpense_639137600514767077" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="us-gaap_OtherNonoperatingIncomeExpense_639137600514767077" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_639137600514767558" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_639137600514767558" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_IncomeFromInvestmentsInUnconsolidatedRealEstateFunds" xlink:label="bhm_IncomeFromInvestmentsInUnconsolidatedRealEstateFunds_639137600514767558" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="bhm_IncomeFromInvestmentsInUnconsolidatedRealEstateFunds_639137600514767558" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_639137600514767558" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivablePeriodIncreaseDecrease_639137600514767558" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfInvestments" xlink:label="us-gaap_GainLossOnSaleOfInvestments_639137600514767558" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="us-gaap_GainLossOnSaleOfInvestments_639137600514767558" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_InterestIncome" xlink:label="bhm_InterestIncome_639137600514767558" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="bhm_InterestIncome_639137600514767558" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InterestIncomeExpenseNonoperatingNet" xlink:label="us-gaap_InterestIncomeExpenseNonoperatingNet_639137600514773216" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="us-gaap_InterestIncomeExpenseNonoperatingNet_639137600514773216" order="7" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_639137600514773216" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NonoperatingIncomeExpense_639137600514761883" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_639137600514773216" order="8" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeTaxExpenseBenefit" xlink:label="us-gaap_IncomeTaxExpenseBenefit_639137600514773216" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ProfitLoss_639137600514750556" xlink:to="us-gaap_IncomeTaxExpenseBenefit_639137600514773216" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RedeemablePreferredStockDividends" xlink:label="us-gaap_RedeemablePreferredStockDividends_639137600514773216" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_639137600514750556" xlink:to="us-gaap_RedeemablePreferredStockDividends_639137600514773216" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PreferredStockAccretionOfRedemptionDiscount" xlink:label="us-gaap_PreferredStockAccretionOfRedemptionDiscount_639137600514773216" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_639137600514750556" xlink:to="us-gaap_PreferredStockAccretionOfRedemptionDiscount_639137600514773216" order="3" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetIncomeLossAttributableToNoncontrollingInterest" xlink:label="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639137600514778879" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLossAvailableToCommonStockholdersBasic_639137600514750556" xlink:to="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639137600514778879" order="4" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable" xlink:label="us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable_639137600514778879" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639137600514778879" xlink:to="us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable_639137600514778879" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_NoncontrollingInterestInNetIncomeLossPartiallyOwnedProperties" xlink:label="bhm_NoncontrollingInterestInNetIncomeLossPartiallyOwnedProperties_639137600514778879" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetIncomeLossAttributableToNoncontrollingInterest_639137600514778879" xlink:to="bhm_NoncontrollingInterestInNetIncomeLossPartiallyOwnedProperties_639137600514778879" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent" xlink:label="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_639137600514778879" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_ComprehensiveIncomeNetOfTax" xlink:to="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_639137600514778879" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax" xlink:label="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_639137600514784069" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_639137600514778879" xlink:to="us-gaap_OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax_639137600514784069" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest" xlink:label="us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_639137600514784551" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent_639137600514778879" xlink:to="us-gaap_OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest_639137600514784551" order="2" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/StatementConsolidatedStatementsOfCashFlows" xlink:type="extended" xlink:title="995200400 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RestrictedCashAndCashEquivalents" xlink:label="us-gaap_RestrictedCashAndCashEquivalents_639137600514784551" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_RestrictedCashAndCashEquivalents_639137600514784551" order="1" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_639137600514784551" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_639137600514784551" order="2" use="optional" weight="1" priority="2" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:label="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProfitLoss" xlink:label="us-gaap_ProfitLoss_639137600514790211" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_ProfitLoss_639137600514790211" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountOrPremium" xlink:label="bhm_DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountOrPremium_639137600514790211" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_DepreciationAndAmortizationExcludingAmortizationOfDebtDiscountOrPremium_639137600514790211" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AmortizationOfDebtDiscountPremium" xlink:label="us-gaap_AmortizationOfDebtDiscountPremium_639137600514790211" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_AmortizationOfDebtDiscountPremium_639137600514790211" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainsLossesOnExtinguishmentOfDebt" xlink:label="us-gaap_GainsLossesOnExtinguishmentOfDebt_639137600514790211" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_GainsLossesOnExtinguishmentOfDebt_639137600514790211" order="4" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_NoncashOperatingLeaseExpense" xlink:label="bhm_NoncashOperatingLeaseExpense_639137600514795398" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_NoncashOperatingLeaseExpense_639137600514795398" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_IncomeFromInvestmentsInUnconsolidatedRealEstateFunds" xlink:label="bhm_IncomeFromInvestmentsInUnconsolidatedRealEstateFunds_639137600514795874" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_IncomeFromInvestmentsInUnconsolidatedRealEstateFunds_639137600514795874" order="6" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncomeLossFromEquityMethodInvestments" xlink:label="us-gaap_IncomeLossFromEquityMethodInvestments_639137600514795874" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_IncomeLossFromEquityMethodInvestments_639137600514795874" order="7" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnSaleOfInvestments" xlink:label="us-gaap_GainLossOnSaleOfInvestments_639137600514795874" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_GainLossOnSaleOfInvestments_639137600514795874" order="8" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ImpairmentOfRealEstate" xlink:label="us-gaap_ImpairmentOfRealEstate_639137600514795874" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_ImpairmentOfRealEstate_639137600514795874" order="9" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_FairValueAdjustmentOfInterestRateCaps" xlink:label="bhm_FairValueAdjustmentOfInterestRateCaps_639137600514795874" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_FairValueAdjustmentOfInterestRateCaps_639137600514795874" order="10" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProvisionForDoubtfulAccounts" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_639137600514801056" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_639137600514801056" order="11" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_ProceedsFromPreferredEquityInvestmentDistribution" xlink:label="bhm_ProceedsFromPreferredEquityInvestmentDistribution_639137600514801531" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_ProceedsFromPreferredEquityInvestmentDistribution_639137600514801531" order="12" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_EquityMethodInvestmentDividendsOrDistributions" xlink:label="us-gaap_EquityMethodInvestmentDividendsOrDistributions_639137600514801531" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_EquityMethodInvestmentDividendsOrDistributions_639137600514801531" order="13" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_AdjustmentsForShareBasedPaymentsAttributableToEquityIncentivePlan" xlink:label="bhm_AdjustmentsForShareBasedPaymentsAttributableToEquityIncentivePlan_639137600514801531" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_AdjustmentsForShareBasedPaymentsAttributableToEquityIncentivePlan_639137600514801531" order="14" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_AdjustmentsForShareBasedPaymentsAttributableToLtipUnits" xlink:label="bhm_AdjustmentsForShareBasedPaymentsAttributableToLtipUnits_639137600514801531" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_AdjustmentsForShareBasedPaymentsAttributableToLtipUnits_639137600514801531" order="15" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_IncreaseDecreaseDueFromToAffiliates" xlink:label="bhm_IncreaseDecreaseDueFromToAffiliates_639137600514801531" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_IncreaseDecreaseDueFromToAffiliates_639137600514801531" order="16" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_IncreaseDecreaseInAccountsReceivablePrepaidsAndOtherAssets" xlink:label="bhm_IncreaseDecreaseInAccountsReceivablePrepaidsAndOtherAssets_639137600514807193" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="bhm_IncreaseDecreaseInAccountsReceivablePrepaidsAndOtherAssets_639137600514807193" order="17" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInNotesReceivableCurrent" xlink:label="us-gaap_IncreaseDecreaseInNotesReceivableCurrent_639137600514807193" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_IncreaseDecreaseInNotesReceivableCurrent_639137600514807193" order="18" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities_639137600514807193" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities_639137600514790211" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities_639137600514807193" order="19" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireRealEstateHeldForInvestment" xlink:label="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_639137600514807193" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" xlink:to="us-gaap_PaymentsToAcquireRealEstateHeldForInvestment_639137600514807193" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireProductiveAssets" xlink:label="us-gaap_PaymentsToAcquireProductiveAssets_639137600514812847" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" xlink:to="us-gaap_PaymentsToAcquireProductiveAssets_639137600514812847" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment" xlink:label="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_639137600514812847" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" xlink:to="us-gaap_ProceedsFromSaleOfRealEstateHeldforinvestment_639137600514812847" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties" xlink:label="us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties_639137600514812847" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" xlink:to="us-gaap_ProceedsFromCollectionOfLongtermLoansToRelatedParties_639137600514812847" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt" xlink:label="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_639137600514812847" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities_639137600514807193" xlink:to="us-gaap_PaymentsToAcquireAvailableForSaleSecuritiesDebt_639137600514812847" order="5" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_PaymentsOfDividendsToPartiallyOwnedNonControllingInterests" xlink:label="bhm_PaymentsOfDividendsToPartiallyOwnedNonControllingInterests_639137600514818504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="bhm_PaymentsOfDividendsToPartiallyOwnedNonControllingInterests_639137600514818504" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDividendsMinorityInterest" xlink:label="us-gaap_PaymentsOfDividendsMinorityInterest_639137600514818504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_PaymentsOfDividendsMinorityInterest_639137600514818504" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDividendsCommonStock" xlink:label="us-gaap_PaymentsOfDividendsCommonStock_639137600514818504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_PaymentsOfDividendsCommonStock_639137600514818504" order="3" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock" xlink:label="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_639137600514818504" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_PaymentsOfDividendsPreferredStockAndPreferenceStock_639137600514818504" order="4" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock" xlink:label="us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock_639137600514824280" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_PaymentsForRepurchaseOfRedeemablePreferredStock_639137600514824280" order="5" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PaymentsOfFinancingCosts" xlink:label="us-gaap_PaymentsOfFinancingCosts_639137600514824280" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_PaymentsOfFinancingCosts_639137600514824280" order="6" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_ProceedsFromPartiallyOwnedNoncontrollingInterests" xlink:label="bhm_ProceedsFromPartiallyOwnedNoncontrollingInterests_639137600514824280" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="bhm_ProceedsFromPartiallyOwnedNoncontrollingInterests_639137600514824280" order="7" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock" xlink:label="us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock_639137600514824280" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_ProceedsFromIssuanceOfRedeemablePreferredStock_639137600514824280" order="8" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RepaymentsOfLinesOfCredit" xlink:label="us-gaap_RepaymentsOfLinesOfCredit_639137600514824280" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_RepaymentsOfLinesOfCredit_639137600514824280" order="9" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_RepaymentsOfNotesPayable" xlink:label="us-gaap_RepaymentsOfNotesPayable_639137600514829981" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities_639137600514812847" xlink:to="us-gaap_RepaymentsOfNotesPayable_639137600514829981" order="10" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureBasisOfPresentationAndSummaryOfSignificantAccountingPoliciesIntangibleAssetsDetails" xlink:type="extended" xlink:title="99940202 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies - intangible assets (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_639137600514829981" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAccumulatedAmortization_639137600514829981" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsGross" xlink:label="us-gaap_FiniteLivedIntangibleAssetsGross_639137600514829981" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet" xlink:to="us-gaap_FiniteLivedIntangibleAssetsGross_639137600514829981" order="2" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureBasisOfPresentationAndSummaryOfSignificantAccountingPoliciesEstimatedFutureAmortizationExpenseDetails" xlink:type="extended" xlink:title="99940204 - Disclosure - Basis of Presentation and Summary of Significant Accounting Policies - Estimated future amortization expense (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsNet" xlink:label="us-gaap_FiniteLivedIntangibleAssetsNet_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_639137600514835183" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_639137600514835183" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_639137600514835183" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_639137600514835183" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_639137600514835183" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_639137600514835183" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_639137600514839645" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_639137600514839645" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_639137600514839645" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_639137600514839645" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive" xlink:label="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_639137600514839645" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_FiniteLivedIntangibleAssetsNet_1" xlink:to="us-gaap_FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive_639137600514839645" order="6" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureAcquisitionOfRealEstateAssetsAcquiredDetails" xlink:type="extended" xlink:title="99940302 - Disclosure - Acquisition of Real Estate - Assets acquired (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Land" xlink:label="us-gaap_Land_639137600514839645" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Land_639137600514839645" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_BuildingsGross" xlink:label="bhm_BuildingsGross_639137600514844860" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="bhm_BuildingsGross_639137600514844860" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_BuildingsImprovementsGross" xlink:label="bhm_BuildingsImprovementsGross_639137600514845366" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="bhm_BuildingsImprovementsGross_639137600514845366" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LandImprovements" xlink:label="us-gaap_LandImprovements_639137600514846356" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_LandImprovements_639137600514846356" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_FurnitureAndFixturesGross" xlink:label="us-gaap_FurnitureAndFixturesGross_639137600514846356" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_FurnitureAndFixturesGross_639137600514846356" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OtherIntangibleAssetsNet" xlink:label="us-gaap_OtherIntangibleAssetsNet_639137600514846356" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_OtherIntangibleAssetsNet_639137600514846356" order="6" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_ConstructionInProgressGross" xlink:label="us-gaap_ConstructionInProgressGross_639137600514846356" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets" xlink:to="us-gaap_ConstructionInProgressGross_639137600514846356" order="7" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureInvestmentInUnconsolidatedRealEstateFundSummaryCombinedFinancialInformationDetails" xlink:type="extended" xlink:title="99940702 - Disclosure - Investment in Unconsolidated Real Estate Fund - Summary combined financial information (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Assets" xlink:label="us-gaap_Assets_1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_ReceivableAndOtherAssets" xlink:label="bhm_ReceivableAndOtherAssets_639137600514851587" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets_1" xlink:to="bhm_ReceivableAndOtherAssets_639137600514851587" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_639137600514851992" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets_1" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_639137600514851992" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Investments" xlink:label="us-gaap_Investments_639137600514851992" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_Assets_1" xlink:to="us-gaap_Investments_639137600514851992" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapitalAccountPeriodIncreaseDecrease" xlink:label="us-gaap_PartnersCapitalAccountPeriodIncreaseDecrease" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_GainLossOnInvestments" xlink:label="us-gaap_GainLossOnInvestments_639137600514851992" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_PartnersCapitalAccountPeriodIncreaseDecrease" xlink:to="us-gaap_GainLossOnInvestments_639137600514851992" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentIncomeNet" xlink:label="us-gaap_InvestmentIncomeNet_639137600514851992" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_PartnersCapitalAccountPeriodIncreaseDecrease" xlink:to="us-gaap_InvestmentIncomeNet_639137600514851992" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_InvestmentIncomeInvestmentExpense" xlink:label="us-gaap_InvestmentIncomeInvestmentExpense_639137600514851992" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_InvestmentIncomeNet_639137600514851992" xlink:to="us-gaap_InvestmentIncomeInvestmentExpense_639137600514851992" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_InterestIncomeOnInvestment" xlink:label="bhm_InterestIncomeOnInvestment_639137600514857659" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_InvestmentIncomeNet_639137600514851992" xlink:to="bhm_InterestIncomeOnInvestment_639137600514857659" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LiabilitiesAndStockholdersEquity" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_MembersEquityAttributableToNoncontrollingInterest" xlink:label="us-gaap_MembersEquityAttributableToNoncontrollingInterest_639137600514857659" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:to="us-gaap_MembersEquityAttributableToNoncontrollingInterest_639137600514857659" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_PartnersCapital" xlink:label="us-gaap_PartnersCapital_639137600514857659" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:to="us-gaap_PartnersCapital_639137600514857659" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_Liabilities" xlink:label="us-gaap_Liabilities_639137600514857659" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity_1" xlink:to="us-gaap_Liabilities_639137600514857659" order="3" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosurePreferredEquityInvestmentsDetails" xlink:type="extended" xlink:title="99940801 - Disclosure - Preferred Equity Investments (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss" xlink:label="us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_InvestmentIncomeDebtSecuritiesAvailableForSaleNonOperating" xlink:label="bhm_InvestmentIncomeDebtSecuritiesAvailableForSaleNonOperating_639137600514863431" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss" xlink:to="bhm_InvestmentIncomeDebtSecuritiesAvailableForSaleNonOperating_639137600514863431" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax" xlink:label="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_639137600514863431" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss" xlink:to="us-gaap_DebtSecuritiesAvailableForSaleAccumulatedGrossUnrealizedGainLossBeforeTax_639137600514863431" order="2" use="optional" weight="-1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosurePreferredEquityInvestmentsContractualMaturityDetails" xlink:type="extended" xlink:title="99940802 - Disclosure - Preferred Equity Investments - Contractual maturity (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AvailableForSaleSecuritiesDebtSecurities" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtSecurities_2" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree" xlink:label="bhm_DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree_639137600514863431" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtSecurities_2" xlink:to="bhm_DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree_639137600514863431" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearThree" xlink:label="bhm_DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearThree_639137600514863431" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtSecurities_2" xlink:to="bhm_DebtSecuritiesAvailableForSaleFairValueMaturityAllocatedAndSingleMaturityDateAfterYearThree_639137600514863431" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_639137600514868633" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AvailableForSaleSecuritiesDebtSecurities_2" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue_639137600514868633" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:label="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree" xlink:label="bhm_DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree_639137600514869614" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:to="bhm_DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearOneThroughThree_639137600514869614" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearThree" xlink:label="bhm_DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearThree_639137600514869614" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:to="bhm_DebtSecuritiesAvailableForSaleAmortizedCostMaturityAllocatedAndSingleMaturityDateAfterYearThree_639137600514869614" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost" xlink:label="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_639137600514869614" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_AvailableForSaleDebtSecuritiesAmortizedCostBasis" xlink:to="us-gaap_AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost_639137600514869614" order="3" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureMortgagesPayableContractualPrincipalPaymentsDetails" xlink:type="extended" xlink:title="99941103 - Disclosure - Mortgages Payable - Contractual principal payments (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebt" xlink:label="LongTermDebt" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DeferredFinanceCostsNet" xlink:label="us-gaap_DeferredFinanceCostsNet_639137600514869614" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LongTermDebt" xlink:to="us-gaap_DeferredFinanceCostsNet_639137600514869614" order="1" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentUnamortizedDiscount" xlink:label="us-gaap_DebtInstrumentUnamortizedDiscount_639137600514875318" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LongTermDebt" xlink:to="us-gaap_DebtInstrumentUnamortizedDiscount_639137600514875318" order="2" use="optional" weight="-1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_DebtInstrumentCarryingAmount" xlink:label="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="LongTermDebt" xlink:to="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_639137600514875318" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear_639137600514875318" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_639137600514875318" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths_639137600514875318" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_639137600514875318" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo_639137600514875318" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_639137600514875318" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree_639137600514875318" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour" xlink:label="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_639137600514880973" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" xlink:to="us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour_639137600514880973" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_LongTermDebtMaturityAfterYearFour" xlink:label="bhm_LongTermDebtMaturityAfterYearFour_639137600514880973" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_DebtInstrumentCarryingAmount_639137600514875318" xlink:to="bhm_LongTermDebtMaturityAfterYearFour_639137600514880973" order="6" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureCommitmentsAndContingenciesOperatingLeaseFutureMinimumPaymentsDetails" xlink:type="extended" xlink:title="99941603 - Disclosure - Commitments and Contingencies - Operating Lease Future Minimum Payments (Details)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" />
    <loc xlink:type="locator" xlink:href="bhm-20260331.xsd#bhm_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour" xlink:label="bhm_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour_639137600514880973" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="bhm_LesseeOperatingLeaseLiabilityToBePaidAfterYearFour_639137600514880973" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_639137600514880973" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour_639137600514880973" order="2" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_639137600514886198" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_639137600514886198" order="3" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_639137600514887195" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree_639137600514887195" order="4" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_639137600514887195" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_639137600514887195" order="5" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_639137600514887195" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_639137600514887195" order="6" use="optional" weight="1" />
  </calculationLink>
  <calculationLink xlink:role="http://bluerockhomes.com/role/DisclosureCommitmentsAndContingenciesOperatingLeaseFutureMinimumPaymentsDetailsCalc2" xlink:type="extended" xlink:title="41603 - Disclosure - Commitments and Contingencies - Operating Lease Future Minimum Payments (Details) (Calc 2)" xmlns="http://www.xbrl.org/2003/linkbase">
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount" xlink:label="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_639137600514887195" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1" xlink:to="us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_639137600514887195" order="1" use="optional" weight="1" />
    <loc xlink:type="locator" xlink:href="https://xbrl.fasb.org/us-gaap/2025/elts/us-gaap-2025.xsd#us-gaap_OperatingLeaseLiability" xlink:label="us-gaap_OperatingLeaseLiability_639137600514892399" />
    <calculationArc xlink:type="arc" xlink:arcrole="https://xbrl.org/2023/arcrole/summation-item" xlink:from="us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue_1" xlink:to="us-gaap_OperatingLeaseLiability_639137600514892399" order="2" use="optional" weight="1" />
  </calculationLink>
</link:linkbase>
