Invitation Homes (INVH) Operating Expenses (2016 - 2026)
Invitation Homes (INVH) posted quarterly Operating Expenses of $657.5 million for Q2 2026, up 13.44% year-over-year from $579.6 million in Q2 2025, and little changed quarter-over-quarter from $654.7 million in Q1 2026.
Invitation Homes (INVH) Operating Expenses (2016 - 2026) Analysis & Trends
Invitation Homes (INVH) has reported Operating Expenses for 11 consecutive years, with $657.5 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Expenses rose 13.44% year-over-year to $657.5 million; the TTM figure through Jun 2026 stood at $2.5 billion (up 5.76% YoY), while the FY2025 annual figure was $2.3 billion, up 0.64% from the prior year.
- Operating Expenses held at $657.5 million in Q2 2026 per INVH's latest filing, from $654.7 million in the prior quarter.
- Across five years, Operating Expenses topped out at $657.5 million in Q2 2026 and bottomed at $452.6 million in Q1 2022.
- Historically, Operating Expenses has averaged $554.1 million across 5 years, with a median of $559.8 million in 2024.
- Annual changes were most pronounced in 2025 — Operating Expenses dropped 4.41% — and 2026, when it advanced 13.71%.
- Invitation Homes' Operating Expenses stood at $496.9 million in 2022, then advanced by 9.18% to $542.5 million in 2023, then grew by 13.61% to $616.3 million in 2024, then fell by 4.41% to $589.1 million in 2025, then increased by 11.62% to $657.5 million in 2026.
- Business Quant data shows INVH's Operating Expenses at $657.5 million in Q2 2026, $654.7 million in Q1 2026, and $589.1 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Avalonbay Communities | 26.11 Bn | 26.32 Bn | - | 636.04 Mn |
| 2 | Erp Operating Ltd Partnership | 23.87 Bn | 24.06 Bn | - | 566.18 Mn |
| 3 | Invitation Homes | 17.86 Bn | 17.86 Bn | 705.34 Mn | 657.51 Mn |
| 4 | Mid America Apartment Communities | 15.29 Bn | 15.16 Bn | 537.17 Mn | 218.72 Mn |
| 5 | Sun Communities | 14.94 Bn | 14.94 Bn | 460.10 Mn | 434.40 Mn |
| 6 | Equity Lifestyle Properties | 12.64 Bn | 12.64 Bn | 375.97 Mn | 298.46 Mn |
| 7 | American Homes 4 Rent | 12.36 Bn | 12.36 Bn | - | 397.77 Mn |
| 8 | Udr | 12.16 Bn | 12.16 Bn | 412.43 Mn | 345.25 Mn |
| 9 | Camden Property Trust | 11.04 Bn | 11.04 Bn | - | 140.94 Mn |
| 10 | Millrose Properties | 5.07 Bn | 5.07 Bn | - | 29.22 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 657.51 Mn |
| Mar 31, 2026 | 654.71 Mn |
| Dec 31, 2025 | 589.07 Mn |
| Sep 30, 2025 | 597.21 Mn |
| Jun 30, 2025 | 579.60 Mn |
| Mar 31, 2025 | 575.79 Mn |
| Dec 31, 2024 | 616.27 Mn |
| Sep 30, 2024 | 590.75 Mn |
| Jun 30, 2024 | 565.30 Mn |
| Mar 31, 2024 | 554.38 Mn |
| Dec 31, 2023 | 542.45 Mn |
| Sep 30, 2023 | 535.53 Mn |
| Jun 30, 2023 | 503.43 Mn |
| Mar 31, 2023 | 493.42 Mn |
| Dec 31, 2022 | 496.86 Mn |
| Sep 30, 2022 | 503.18 Mn |
| Jun 30, 2022 | 466.60 Mn |
| Mar 31, 2022 | 452.58 Mn |
| Dec 31, 2021 | 451.55 Mn |
| Sep 30, 2021 | 456.10 Mn |