• American Homes 4 Rent average operating margin for 2023 was 20.9%, a 0.87% increase from 2022.
• American Homes 4 Rent average operating margin for 2022 was 20.72%, a 2.57% increase from 2021.
• American Homes 4 Rent average operating margin for 2021 was 20.2%, a 0.8% increase from 2020.

Operating margin can be defined as operating margin measurement of what proportion of a company's revenue is left over after paying for variable costs of production such as wages, raw materials, etc.