Share-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation, RSU and PRSU Activity

The following table summarizes activity related to share-based awards, other than Outperformance Awards, during the six months ended June 30, 2026:


	Time-Vesting Awards			Performance and/or Market Vesting Awards			Total Share-Based Awards(1)
	Number	Weighted Average Grant Date Fair Value (Actual $)		Number	Weighted Average Grant Date Fair Value (Actual $)		Number	Weighted Average Grant Date Fair Value (Actual $)
















Balance, December 31, 2025	742,824	$	33.74	1,492,002	$	37.06	2,234,826	$	35.96
Granted	1,865,549	26.42		1,008,487	29.34		2,874,036	27.45
Vested(2)	(298,706)	(33.39)		(197,231)	(29.81)		(495,937)	(31.97)
Forfeited / canceled	(64,200)	(29.67)		(322,496)	(32.27)		(386,696)	(31.84)
Balance, June 30, 2026	2,245,467	$	27.83	1,980,762	$	34.63	4,226,229	$	31.02

(1)Total share-based awards excludes Outperformance Awards.

(2)Vested share-based awards issued in shares of common stock are included in basic EPS for the periods after each award’s vesting date, and vested share-based awards issued in the form LTIP OP Units are included as a component of non-controlling interest for the periods after each award’s vesting date. The estimated aggregate fair value of share-based awards that fully vested during the six months ended June 30, 2026 was $23,147. During the six months ended June 30, 2026, 19,560 RSUs, respectively, were accelerated pursuant to the terms and conditions of the 2017 Omnibus Incentive Plan and related award agreements.

Schedule of Grant-Date Fair Values

The following table summarizes the significant inputs utilized in these models for such awards granted or modified during the six months ended June 30, 2026:



						For the Six Months Ended June 30, 2026

Expected volatility(1)						18.51% — 21.12%
Risk-free rate						3.43%
Expected holding period (years)						2.83

(1)Expected volatility was estimated based on the historical volatility of INVH’s realized returns and of the applicable index.

Schedule of Share-Based Compensation Expense

During the three and six months ended June 30, 2026 and 2025, we recognized share-based compensation expense as follows:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,

	2026		2025		2026		2025
General and administrative	$	8,007	$	6,898	$	15,781	$	15,404
Property management expense	1,339		1,566		4,265		3,217
Total	$	9,346	$	8,464	$	20,046	$	18,621