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Debt - Narrative (Details) - USD ($) | 1 Months Ended | 6 Months Ended |
--- | --- | --- | ---
May 31, 2024 | Jul. 31, 2023 | Jun. 30, 2024 | Dec. 31, 2023
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Commercial paper, maximum borrowing capacity |  |  | $ 500,000,000 |
Net carrying value of apartment communities and improved land parcels securing debt |  |  | 19,412,588,000 | $ 19,342,871,000
Unsecured Notes 5.350 Percent |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Assumption of fixed rate mortgage loan | $ 400,000,000 |  |  |
Proceeds from issuance of debt | $ 396,188,000 |  |  |
Asset Pledged as Collateral | Notes Payable, Other Payables |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Net carrying value of apartment communities and improved land parcels securing debt |  |  | 1,262,256,000 |
Credit Facility |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Available borrowing capacity |  |  | $ 2,250,000,000 | $ 2,250,000,000
Annual facility fee, percentage |  |  | 0.12% |
Line of credit facility, commitment fee percentage, increase (decrease) |  | 0.005% |  |
Credit Facility | Minimum |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Annual facility fee, percentage |  |  | 0.095% |
Credit Facility | Maximum |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Annual facility fee, percentage |  |  | 0.295% |
Credit Facility | Secured Overnight Financing Rate (SOFR) |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Current interest rate (as a percent) |  |  | 6.14% |
Debt instrument, basis spread on variable rate (as a percent) |  |  | 0.805% |
Debt instrument, basis spread on variable rate, increase (decrease) |  | 0.02% |  |
Credit Facility | Secured Overnight Financing Rate (SOFR) | Minimum |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  | 0.63% |
Credit Facility | Secured Overnight Financing Rate (SOFR) | Maximum |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  | 1.38% |
Credit Facility | SOFR Adjustment |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  | 0.10% |
Credit Facility | SOFR Base Rate |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Debt instrument, basis spread on variable rate (as a percent) |  |  | 0.705% |
Unsecured Notes 5.350 Percent | Unsecured notes |  |  |  |
Notes Payable, Unsecured Notes and Credit Facility |  |  |  |
Current interest rate (as a percent) | 5.05% |  |  |
Fixed interest rate | 5.35% |  |  |

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