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Investments in Unconsolidated Real Estate - Summary of Investments In Unconsolidated Real Estate Entities (Details) $ in Thousands		9 Months Ended
	Oct. 17, 2024 USD ($)	Sep. 30, 2024 USD ($) unit	Jun. 21, 2024	Dec. 31, 2023 USD ($)
Schedule of Equity Method Investments [Line Items]
Units		1,463
Investments in unconsolidated real estate entities | $		$ 95,393		$ 89,044
Metropolis at Innsbrook
Schedule of Equity Method Investments [Line Items]
Number of units placed in service		402
Required occupancy for call option		90.00%
Required occupancy to sell property			85.00%
Metropolis at Innsbrook | Richmond, VA
Schedule of Equity Method Investments [Line Items]
Units		402
IRT Ownership Interest		84.80%
Investments in unconsolidated real estate entities | $		$ 21,081		18,028
Views of Music City / The Crockett | Nashville, TN
Schedule of Equity Method Investments [Line Items]
Units		408
IRT Ownership Interest		50.00%
Investments in unconsolidated real estate entities | $		$ 11,846		11,632
Lakeline Station | Austin, TX
Schedule of Equity Method Investments [Line Items]
Units		378
IRT Ownership Interest		90.00%
Investments in unconsolidated real estate entities | $		$ 33,794		32,126
The Mustang | Dallas, TX
Schedule of Equity Method Investments [Line Items]
Units		275
IRT Ownership Interest		85.00%
Investments in unconsolidated real estate entities | $		$ 28,672		$ 27,258
Views of Music City II
Schedule of Equity Method Investments [Line Items]
Number of remaining units placed in service		209
Crockett
Schedule of Equity Method Investments [Line Items]
Number of remaining units placed in service		199
Crockett | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Partners' capital account, return of capital | $	$ 5,541
Preferred stock, redemption amount | $	$ 2,964

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