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<!-- DFIN ActiveDisclosure(SM) XBRL Schema Document - http://www.dfinsolutions.com/ -->
<!-- Creation Date      : 2020-10-29T19:05:06.1770376+00:00 -->
<!-- Version            : 5.0.1.513 -->
<!-- Package ID         : dd6a89a860d447afa9bca10800bcaf21 -->
<!-- Copyright (c) 2020 Donnelley Financial Solutions, Inc. All Rights Reserved. -->
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  <xsd:element id="irt_RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleAccumulatedDepreciation" name="RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleAccumulatedDepreciation" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleNet" name="RealEstateInvestmentPropertyExcludingRealEstateHeldForSaleNet" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_RestrictedCommonStockSharesOutstanding" name="RestrictedCommonStockSharesOutstanding" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" />
  <xsd:element id="irt_RentalAndOtherPropertyRevenue" name="RentalAndOtherPropertyRevenue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_AbandonedDealCosts" name="AbandonedDealCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_DistributionToNoncontrollingInterestDeclaredPerShare" name="DistributionToNoncontrollingInterestDeclaredPerShare" type="num:perShareItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_AmortizationOrAdjustmentsRelatedToDerivativeInstruments" name="AmortizationOrAdjustmentsRelatedToDerivativeInstruments" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_PaymentsToAcquireProductiveAssetsExcludingAcquisitionOfRealEstateProperties" name="PaymentsToAcquireProductiveAssetsExcludingAcquisitionOfRealEstateProperties" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_PaymentsReimbursementsForDeferredFinancingCosts" name="PaymentsReimbursementsForDeferredFinancingCosts" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_ReconciliationOfCashCashEquivalentsAndRestrictedCashToConsolidatedBalanceSheetAbstract" name="ReconciliationOfCashCashEquivalentsAndRestrictedCashToConsolidatedBalanceSheetAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_RevenueRecognitionAndExpensesPolicyTextBlock" name="RevenueRecognitionAndExpensesPolicyTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_ScheduleOfCarryingValuesAndEstimatedFairValuesOfFinancialInstrumentsTableTextBlock" name="ScheduleOfCarryingValuesAndEstimatedFairValuesOfFinancialInstrumentsTableTextBlock" type="nonnum:textBlockItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_CashAndCashEquivalentsMaturityPeriod" name="CashAndCashEquivalentsMaturityPeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_SignificantAccountingPoliciesLineItems" name="SignificantAccountingPoliciesLineItems" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_SignificantAccountingPoliciesTable" name="SignificantAccountingPoliciesTable" type="xbrli:stringItemType" substitutionGroup="xbrldt:hypercubeItem" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_PercentageOfRentDefermentOnMonthlyRent" name="PercentageOfRentDefermentOnMonthlyRent" type="num:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_NumberOfDeferredPaymentPlans" name="NumberOfDeferredPaymentPlans" type="xbrli:integerItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" />
  <xsd:element id="irt_DeferredRentPaymentTerm" name="DeferredRentPaymentTerm" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_RevenueRecognizedRent" name="RevenueRecognizedRent" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_DerivativeAssetsCarryingValue" name="DerivativeAssetsCarryingValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_DerivativeLiabilitiesCarryingValue" name="DerivativeLiabilitiesCarryingValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_UnsecuredCreditFacilityMember" name="UnsecuredCreditFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_TermLoanFacilityMember" name="TermLoanFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_RestrictedCashAndCashEquivalentsFairValueDisclosure" name="RestrictedCashAndCashEquivalentsFairValueDisclosure" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_PercentageOfMinimumOrdinaryTaxableIncomeDistributableToStockholders" name="PercentageOfMinimumOrdinaryTaxableIncomeDistributableToStockholders" type="num:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_SubsequentDisqualificationPeriodIfFailedToQualifyAsREIT" name="SubsequentDisqualificationPeriodIfFailedToQualifyAsREIT" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_RealEstatePropertiesBasePurchasePriceAbstract" name="RealEstatePropertiesBasePurchasePriceAbstract" type="xbrli:stringItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_NumberOfRealEstatePropertiesExpectedToBeSold" name="NumberOfRealEstatePropertiesExpectedToBeSold" type="xbrli:integerItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_NumberOfUnitsInRealEstatePropertiesHeldForSale" name="NumberOfUnitsInRealEstatePropertiesHeldForSale" type="xbrli:integerItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" />
  <xsd:element id="irt_LakeshoreOnHillMember" name="LakeshoreOnHillMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_TrailsAtSignalMountainMember" name="TrailsAtSignalMountainMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_LiveOakTraceMember" name="LiveOakTraceMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_NumberOfUnitsInRealEstatePropertyAcquired" name="NumberOfUnitsInRealEstatePropertyAcquired" type="xbrli:integerItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" />
  <xsd:element id="irt_PaymentsToAcquireRealEstateIncludingTransactionFees" name="PaymentsToAcquireRealEstateIncludingTransactionFees" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccountsPayableAndAccruedExpenses" name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAccountsPayableAndAccruedExpenses" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesOther" name="BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesOther" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_NumberOfUnitsInRealEstatePropertyDisposed" name="NumberOfUnitsInRealEstatePropertyDisposed" type="xbrli:integerItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" />
  <xsd:element id="irt_SalePriceOfRealEstateProperty" name="SalePriceOfRealEstateProperty" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_UnsecuredTermLoanFacilityMember" name="UnsecuredTermLoanFacilityMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" name="LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_InterestRateCollarMember" name="InterestRateCollarMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_ForwardInterestRateSwapMember" name="ForwardInterestRateSwapMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_DerivativeEffectiveDate" name="DerivativeEffectiveDate" type="xbrli:dateItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_InterestRateSwapAndCollarsMember" name="InterestRateSwapAndCollarsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNetOfMarkToMarket" name="InterestRateCashFlowHedgeGainLossReclassifiedToEarningsNetOfMarkToMarket" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_UnderwritingAgreementMember" name="UnderwritingAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_BMOCapitalMarketsAndBankOfMontrealMember" name="BMOCapitalMarketsAndBankOfMontrealMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_ForwardSaleAgreementMember" name="ForwardSaleAgreementMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_RestrictedCommonShareAwardsVestedDividends" name="RestrictedCommonShareAwardsVestedDividends" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_NumberOfAgreements" name="NumberOfAgreements" type="xbrli:decimalItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_SaleOfStockSettlementValueOfShares" name="SaleOfStockSettlementValueOfShares" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_SaleOfStockSettlementOfRemainingShares" name="SaleOfStockSettlementOfRemainingShares" type="xbrli:sharesItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_ProceedsFromSaleOfStockUponSettlement" name="ProceedsFromSaleOfStockUponSettlement" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" xbrli:balance="credit" />
  <xsd:element id="irt_LongTermIncentivePlanMember" name="LongTermIncentivePlanMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_RestrictedStockAwardsAndPerformanceShareUnitsMember" name="RestrictedStockAwardsAndPerformanceShareUnitsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_CommunityLevelEmployeesMember" name="CommunityLevelEmployeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_NonExecutiveCorporateEmployeesMember" name="NonExecutiveCorporateEmployeesMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_EmployeeMember" name="EmployeeMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_NonEmployeeDirectorsMember" name="NonEmployeeDirectorsMember" type="nonnum:domainItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="true" />
  <xsd:element id="irt_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantDateFairValue" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantDateFairValue" type="xbrli:monetaryItemType" substitutionGroup="xbrli:item" xbrli:periodType="instant" nillable="true" abstract="false" xbrli:balance="debit" />
  <xsd:element id="irt_ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberShareIssuablePercentage" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberShareIssuablePercentage" type="num:percentItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardPerformancePeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
  <xsd:element id="irt_ShareBasedCompensationArrangementByShareBasedPaymentAwardServicePeriod" name="ShareBasedCompensationArrangementByShareBasedPaymentAwardServicePeriod" type="xbrli:durationItemType" substitutionGroup="xbrli:item" xbrli:periodType="duration" nillable="true" abstract="false" />
</xsd:schema>
