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Share-Based Compensation (Tables) | 3 Months Ended
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Mar. 31, 2023
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation, RSU and PRSU Activity | The following table summarizes activity related to non-vested time-vesting RSUs and PRSUs, other than Outperformance Awards, during the three months ended March 31, 2023:
|  | Time-Vesting Awards |  | PRSUs |  | 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, 2022 |  | 509,872 |  |  | $ | 34.54 |  |  | 1,211,571 |  |  | $ | 32.08 |  |  | 1,721,443 |  |  | $ | 32.81 |
Granted |  | 239,815 |  |  | 30.36 |  |  | 712,990 |  |  | 30.46 |  |  | 952,805 |  |  | 30.44 |
Vested(2) |  | (179,391) |  |  | (32.26) |  |  | (505,933) |  |  | (31.54) |  |  | (685,324) |  |  | (31.73) |
Forfeited / canceled |  | (557) |  |  | (37.45) |  |  | (632) |  |  | (32.83) |  |  | (1,189) |  |  | (34.99) |
Balance, March 31, 2023 |  | 569,739 |  |  | $ | 33.49 |  |  | 1,417,996 |  |  | $ | 31.46 |  |  | 1,987,735 |  |  | $ | 32.04 |
(1)Total share-based awards excludes Outperformance Awards. (2)All vested share-based awards are included in basic EPS for the periods after each award’s vesting date. The estimated aggregate fair value of share-based awards that fully vested during the three months ended March 31, 2023 was $21,781. During the three months ended March 31, 2023, 111 RSUs were accelerated pursuant to the terms and conditions of the 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 three months ended March 31, 2023:
|  | For the Three Months Ended March 31, 2023 |  |  |  |  |
Expected volatility(1) |  | 20.5% — 30.0% |  |  |  |  |  |  |
Risk-free rate |  | 4.31% — 4.62% |  |  |
Expected holding period (years) |  | 1.00 — 2.84 |  |  |  |  |  |  |
(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 months ended March 31, 2023 and 2022, we recognized share-based compensation expense as follows:
|  | For the Three Months Ended March 31, |  |  |  |  |  |
|  | 2023 |  | 2022 |  |  |  |  |  |
General and administrative |  | $ | 4,538 |  |  | $ | 5,220 |  |  |  |  |  |  |
Property management expense |  | 1,960 |  |  | 1,426 |  |  |  |  |  |  |
Total |  | $ | 6,498 |  |  | $ | 6,646 |  |  |  |  |  |  |
As of March 31, 2023, there is $53,433 of unrecognized share-based compensation expense related to non-vested share-based awards which is expected to be recognized over a weighted average period of 2.14 years.

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- Definition Tabular disclosure of the significant assumptions used during the year to estimate the fair value of stock options, including, but not limited to: (a) expected term of share options and similar instruments, (b) expected volatility of the entity's shares, (c) expected dividends, (d) risk-free rate(s), and (e) discount for post-vesting restrictions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (f)(2) -URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901 + Details
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