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Significant Transactions During the Nine Months Ended September 30, 2022 and Subsequent Events (Details) $ / shares in Units, $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended |  |
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Oct. 27, 2022 USD ($) apartment | Sep. 30, 2022 USD ($) community | Aug. 31, 2022 USD ($) | Jul. 31, 2022 USD ($) apartment | Jun. 30, 2022 USD ($) | Apr. 30, 2022 USD ($) | Feb. 28, 2022 USD ($) | Jan. 31, 2022 USD ($) apartment | Nov. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) investment community $ / shares shares | Jun. 30, 2022 USD ($) $ / shares shares | Mar. 31, 2022 USD ($) investment | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) community | Sep. 30, 2021 USD ($) | Oct. 22, 2022 USD ($) | Dec. 31, 2021 USD ($)
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Apartment communities owned (in communities) | community |  | 253 |  |  |  |  |  |  |  | 253 |  |  |  | 253 |  |  |
Gain on remeasurement of co-investment |  |  |  | $ 17,400 |  |  |  |  |  | $ 17,423 |  |  | $ 0 | $ 17,423 | $ 2,260 |  |
Number of preferred equity investments | investment |  |  |  |  |  |  |  |  |  | 4 |  |  |  |  |  |  |
Commitments to acquire equity method investment |  |  |  |  |  |  |  |  |  | $ 55,400 |  |  |  |  |  |  |
Preferred return rate |  |  |  |  |  |  |  |  |  | 9.50% |  |  |  |  |  |  |
Shares repurchased and retired during period (in shares) | shares |  |  |  |  |  |  |  |  |  |  | 218,960 |  |  |  |  |  |
Shares repurchased and retired during period, value |  |  |  |  |  |  |  |  |  | $ 97,100 | $ 60,800 |  |  |  |  |  |
Treasury stock acquired, average cost per share (in dollars per share) | $ / shares |  |  |  |  |  |  |  |  |  | $ 261.16 | $ 277.81 |  |  |  |  |  |
Purchase authority remaining under stock repurchase plan |  |  |  |  | $ 153,600 |  |  |  |  |  | $ 153,600 |  |  |  |  |  |
Stock repurchase plan amount |  |  |  |  | 250,000 |  |  |  |  |  | 250,000 |  |  |  |  |  |
Unsecured debt, net |  | $ 5,312,131 |  |  |  |  |  |  |  | $ 5,312,131 |  |  |  | 5,312,131 |  |  | $ 5,307,196
Stock Repurchase Plan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares repurchased and retired during period (in shares) | shares |  |  |  |  |  |  |  |  |  | 371,884 |  |  |  |  |  |  |
Purchase authority remaining under stock repurchase plan |  | 430,100 |  |  |  |  |  |  |  | $ 430,100 |  |  |  | 430,100 |  |  |
Stock repurchase plan amount |  | 500,000 |  |  |  |  |  |  |  | $ 500,000 |  |  |  | $ 500,000 |  |  |
Stock Repurchase Plan, December 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares repurchased and retired during period (in shares) | shares |  |  |  |  |  |  |  |  |  | 100,487 |  |  |  |  |  |  |
Shares repurchased and retired during period, value |  |  |  |  |  |  |  |  |  | $ 27,200 |  |  |  |  |  |  |
Stock Repurchase Plan, September 2022. |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Shares repurchased and retired during period (in shares) | shares |  |  |  |  |  |  |  |  |  | 271,397 |  |  |  |  |  |  |
Shares repurchased and retired during period, value |  |  |  |  |  |  |  |  |  | $ 69,900 |  |  |  |  |  |  |
Stock repurchase plan amount |  |  |  |  | 500,000 |  |  |  |  |  | $ 500,000 |  |  |  |  |  |
Subsequent Event | SOFR |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basis spread on variable rate | 0.85% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Subsequent Event | Term loan - variable rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Unsecured debt, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 300,000 |
Subsequent Event | Term Loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4.20% |
Number of extension options (in extensions) | apartment | 3 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Extension period | 12 months |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Related Party Bridge Loan on Property In Vista, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from redemption of notes receivable |  |  |  |  |  |  |  | $ 48,500 |  |  |  |  |  |  |  |  |
Mezzanine Loans | Subsequent Event |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivable with imputed interest, face amount | $ 32,100 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Receivable with imputed interest, effective yield (interest rate) | 11.30% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Option to extend | 2 years |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Affiliated Entity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  |  | $ 11,200 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate |  |  | 9.50% |  |  |  |  |  |  |  |  |  |  |  |  |  |
Affiliated Entity | Loan on Multifamily Community in Washington |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  |  | $ 10,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate |  |  | 12.00% |  |  |  |  |  |  |  |  |  |  |  |  |  |
Affiliated Entity | Related Party Bridge Loan on Property In Vista, CA |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  |  |  |  |  |  |  |  | $ 48,400 |  |  |  |  |  |  |  |
Interest rate |  |  |  |  |  |  |  |  | 2.36% |  |  |  |  |  |  |  |
Affiliated Entity | Related Party Bridge Loan On Property Acquired By BEX II |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  |  |  |  |  |  | $ 32,800 |  | $ 32,800 |  |  |  |  |  |  |  |
Interest rate |  |  |  |  |  |  | 1.35% |  | 1.35% |  |  |  |  |  |  |  |
Joint Venture Partner Essex JV, LLC | Regency Palm Court and Windsor Court |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment interest acquired |  |  |  | 49.80% |  |  |  |  |  |  |  |  |  |  |  |  |
Apartment communities owned (in communities) | apartment |  |  |  | 2 |  |  |  |  |  |  |  |  |  |  |  |  |
Number of units acquired | apartment |  |  |  | 211 |  |  |  |  |  |  |  |  |  |  |  |  |
Payments to acquire real estate |  |  |  | $ 32,900 |  |  |  |  |  |  |  |  |  |  |  |  |
Wesco IV |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Limited partnership interest in partnership investments |  |  |  |  |  | 65.10% |  |  |  |  |  |  |  |  |  |  |
Promote interest |  |  |  |  |  | $ 37,500 |  |  |  |  |  |  |  |  |  |  |
Preferred Equity Investment Property in Southern California and Washington |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of preferred equity investments | investment |  |  |  |  |  |  |  |  |  |  |  | 3 |  |  |  |  |
Commitments to acquire equity method investment |  |  |  |  |  |  |  |  |  |  |  | $ 29,500 |  |  |  |  |
Preferred return rate |  |  |  |  |  |  |  |  |  |  |  | 10.00% |  |  |  |  |
Joint Venture That Holds Property In California |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from dispositions of co-investments |  |  |  |  |  |  |  |  |  |  |  | $ 106,900 |  |  |  |  |
Early redemption fee |  |  |  |  |  |  |  |  |  |  |  | $ 900 |  |  |  |  |
Number of preferred equity investments fully redeemed | investment |  |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  |  |
Number of preferred equity investments partially redeemed | investment |  |  |  |  |  |  |  |  |  |  |  | 2 |  |  |  |  |
Preferred Equity Investment Property In Northern California |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Proceeds from dispositions of co-investments |  | $ 8,400 |  |  | $ 3,000 |  |  |  |  |  |  |  |  |  |  |  |
Vela On Ox | Affiliated Entity | Related Party Bridge Loan on Property Acquired By Wesco VI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Notes receivable |  |  |  |  |  |  |  | $ 100,700 |  |  |  |  |  |  |  |  |
Interest rate |  |  |  |  |  |  |  | 2.64% |  |  |  |  |  |  |  |  |
Proceeds from redemption of notes receivable |  |  |  |  |  |  |  | $ 121,300 |  |  |  |  |  |  |  |  |
Vela On Ox | Wesco VI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payments to acquire real estate |  |  |  |  |  |  |  | $ 183,000 |  |  |  |  |  |  |  |  |
Vela On Ox | Apartment Building | Wesco VI |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Commitments [Line Items] |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Number of units acquired | apartment |  |  |  |  |  |  |  | 379 |  |  |  |  |  |  |  |  |

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