Real Estate Investments - Preferred Equity Investments and Real Estate Under Development (Details) $ in Thousands	1 Months Ended			12 Months Ended
	Nov. 30, 2021 USD ($) apartment	Aug. 31, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($) project investment apartment	Dec. 31, 2020 USD ($) investment	Dec. 31, 2019 USD ($) investment	Dec. 31, 2018 USD ($) investment
Schedule of Equity Method Investments [Line Items]
Co-investment				$ 1,177,802	$ 1,018,010
Ownership interests, number of consolidated projects | project				1
Ownership Interests, number of unconsolidated projects | investment				1
Number of units to be developed | apartment				371
Real Estate Predevelopment Projects
Schedule of Equity Method Investments [Line Items]
Actual cost of active development projects				$ 156,000
Minimum
Schedule of Equity Method Investments [Line Items]
Annualized preferred return rate				10.00%	9.00%	10.15%	10.25%
Maximum
Schedule of Equity Method Investments [Line Items]
Annualized preferred return rate				12.50%	11.50%	11.30%	12.00%
Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project				$ 67,200	$ 191,300	$ 141,700	$ 45,100
Number of investments with a commitment to fund | investment				4	7	5	2
Equity method investment, funded amount				$ 51,300
Silver Apartments
Schedule of Equity Method Investments [Line Items]
Commitment to fund preferred equity investment in the project	$ 13,500
Annualized preferred return rate	8.00%
Transfer from co-investments to rental properties	$ 11,000
Number of units acquired | apartment	268
Limited partnership interest	58.00%
Silver Apartments | Related Party Bridge Loans on Property Acquired by Wesco VI | Affiliated Entity
Schedule of Equity Method Investments [Line Items]
Notes receivable, related parties	$ 100,000
Interest rate	3.15%
Total preferred interest co-investments
Schedule of Equity Method Investments [Line Items]
Co-investment				565,900	$ 502,300
Joint Venture That Holds Property In Los Angeles, CA
Schedule of Equity Method Investments [Line Items]
Proceeds from dispositions of co-investments			$ 10,000
Preferred Equity Investment Property in Southern California
Schedule of Equity Method Investments [Line Items]
Proceeds from dispositions of co-investments	$ 18,300		110,200
Early redemption fee			$ 3,500
Preferred Equity Investment Property in Northern California
Schedule of Equity Method Investments [Line Items]
Proceeds from dispositions of co-investments		$ 21,600
2020 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Equity method investment, funded amount					$ 182,300
2019 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Equity method investment, funded amount				141,700
2018 Investments | Equity Method Investments
Schedule of Equity Method Investments [Line Items]
Equity method investment, funded amount				$ 42,100