• American Homes 4 Rent average gross margin for 2023 was 55.38%, a 0.14% increase from 2022.
• American Homes 4 Rent average gross margin for 2022 was 55.3%, a 1.34% increase from 2021.
• American Homes 4 Rent average gross margin for 2021 was 54.57%, a 1.56% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.