Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Investment Property and Equipment
Land	$ 86,497	$ 86,619
Site and Land Improvements	896,568	846,218
Buildings and Improvements	39,506	35,933
Rental Homes and Accessories	516,470	422,818
Total Investment Property	1,539,041	1,391,588
Equipment and Vehicles	29,126	26,721
Total Investment Property and Equipment	1,568,167	1,418,309
Accumulated Depreciation	(416,309)	(363,098)
Net Investment Property and Equipment	1,151,858	1,055,211
Other Assets
Cash and Cash Equivalents	57,320	29,785
Marketable Securities at Fair Value	34,506	42,178
Inventory of Manufactured Homes	32,940	88,468
Notes and Other Receivables, net	81,071	67,271
Prepaid Expenses and Other Assets	11,729	20,011
Land Development Costs	33,302	23,250
Investment in Joint Venture	24,851	18,422
Total Other Assets	275,719	289,385
TOTAL ASSETS	1,427,577	1,344,596
LIABILITIES:
Mortgages Payable, net of unamortized debt issuance costs	496,483	508,938
Other Liabilities:
Accounts Payable	6,106	6,387
Loans Payable, net of unamortized debt issuance costs	93,479	153,531
Series A Bonds, net of unamortized debt issuance costs	100,055	99,207
Accrued Liabilities and Deposits	15,117	16,852
Tenant Security Deposits	9,543	8,485
Total Other Liabilities	224,300	284,462
Total Liabilities	720,783	793,400
Commitments and Contingencies
Shareholders’ Equity:
Series D – 6.375% Cumulative Redeemable Preferred Stock, $0.10 par value per share, 13,700 and 9,300 shares authorized as of December 31, 2023 and 2022, respectively; 11,607 and 9,015 shares issued and outstanding as of December 31, 2023 and 2022, respectively	290,180	225,379
Common Stock - $0.10 par value per share, 153,714 and 154,048 shares authorized as of December 31, 2023 and 2022, respectively; 67,978 and 57,595 shares issued and outstanding as of December 31, 2023 and 2022, respectively	6,798	5,760
Excess Stock - $0.10 par value per share, 3,000 shares authorized; no shares issued or outstanding as of December 31, 2023 and 2022	0	0
Additional Paid-In Capital	433,106	343,189
Undistributed Income (Accumulated Deficit)	(25,364)	(25,364)
Total UMH Properties, Inc. Shareholders’ Equity	704,720	548,964
Non-Controlling Interest in Consolidated Subsidiaries	2,074	2,232
Total Shareholders’ Equity	706,794	551,196
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,427,577	$ 1,344,596