American Homes 4 Rent Announces Home Price Appreciation Amounts for its 5% Series A Participating Preferred Shares

  American Homes 4 Rent Announces Home Price Appreciation Amounts for its 5%
                   Series A Participating Preferred Shares

PR Newswire

AGOURA HILLS, Calif., Nov. 27, 2013

AGOURA HILLS, Calif., Nov. 27, 2013 /PRNewswire/ --American Homes 4 Rent
(NYSE: AMH) ("AMH," the "Company," "we," "our" or "us") today posted the
revised "Home Price Appreciation Factor" and "Home Price Appreciation Amount"
as of September 30, 2013, as those terms are referenced in the final
prospectus for the Company's 5% Series A Participating Preferred Shares. The
computations of these amounts are based on the latest House Price Index of the
Federal Housing Finance Agency, or FHFA, known as the Quarterly Purchase-Only
Index, or POI, specifically the non-seasonally adjusted "Purchase-Only Index"
for the "100 Largest Metropolitan Statistical Areas" as of September 30, 2013,
which was released yesterday.

Based on the weighting among our top 20 markets established under the terms of
our 5% Series A Participating Preferred Shares, cumulative home price
appreciation for the quarter ended September 30, 2013 was 2.59%, resulting in
a Home Price Appreciation Factor of 1.30%. The Home Price Appreciation Amount
through September 30, 2013 was $0.324.

The computation of these amounts appears below, and will be posted to the "For
Investors" page of the Company's website (,
together with the FHFA report. The Company anticipates announcing the next
update to these amounts in approximately three months.

The Company's 5% Series A Participating Preferred Shares are traded on the New
York Stock Exchange under the symbol "AMHPRA."

Company Information

American Homes 4 Rent (NYSE: AMH) is an internally managed Maryland real
estate investment trust, or REIT, focused on acquiring, renovating, leasing,
and operating single-family homes as rental properties. As of September 30,
2013, we owned 21,267 single-family properties in selected submarkets in 22
states. We are a leader in the single-family home rental industry and
"American Homes 4 Rent" is fast becoming a nationally recognized brand for
rental homes, known for high quality, good value and tenant satisfaction. Our
common stock is a component of the Russell 1000 and Russell 3000 Indexes.

Additional information about American Homes 4 Rent is available on our website

Forward-Looking Statements

This press release contains "forward-looking statements." These forward
-looking statements relate to beliefs, expectations or intentions and similar
statements concerning matters that are not of historical fact and are
generally accompanied by words such as "estimate," "project," "predict,"
"believe," "expect," "anticipate," "intend," "anticipate," "potential,"
"plan," "goal" or other words that convey the uncertainty of future events or
outcomes. These forward-looking statements include the anticipated timing of
the next update of the Home Price Appreciation Amount. The Company has based
these forward-looking statements on its current expectations and assumptions
about future events. While the Company's management considers these
expectations to be reasonable, they are inherently subject to risks,
contingencies and uncertainties, including, but not limited to, conditions in
the capital markets, the results of discussions with the rating agencies and
factors impacting the Company's cost of capital, most of which are difficult
to predict and many of which are beyond the Company's control. Investors
should not place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company undertakes no
obligation to update any forward-looking statement to conform to actual
results or changes in expectations, except as required by applicable law.

September 30, 2013
Quarterly Measurement of Aggregate HPA Amount Per Series A Preferred Share
                    -                 June 30, 2013       September 30, 2013
                    Relative                                     Percentage
Metropolitan        Weighting         Actual   Assigned  Actual Change in POI
Statistical Area    Applied in        POI      Baseline   POI    Relative to
                    Determining HPA   Value    Value      Value  Jun 30, 2013
Dallas – Plano –    4.754%            194.12   100        196.50 1.23%
Irving, TX
Fort Worth –        4.754%            180.86   100        184.71 2.13%
Arlington, TX
Indianapolis, IN    8.880%            164.50   100        169.38 2.97%
Greater Chicago     7.679%            182.20   100        184.21 1.10%
Atlanta, GA         7.545%            174.20   100        179.60 3.10%
Nashville, TN       6.390%            230.70   100        233.27 1.11%
Houston, TX         6.312%            241.20   100        245.48 1.77%
Cincinnati, OH      6.119%            166.30   100        170.81 2.71%
Salt Lake City, UT  5.495%            323.90   100        327.40 1.08%
Tampa, FL           5.361%            209.60   100        215.50 2.81%
Charlotte, NC       5.354%            186.80   100        191.68 2.61%
Phoenix, AZ         5.270%            232.50   100        243.04 4.53%
Jacksonville, FL    4.776%            211.70   100        217.47 2.73%
Las Vegas, NV       4.371%            133.30   100        143.69 7.79%
Raleigh, NC         4.040%            197.10   100        200.94 1.95%
Columbus, OH        3.167%            178.90   100        186.28 4.13%
Orlando, FL         3.036%            180.00   100        186.00 3.33%
Tucson, AZ          1.867%            206.70   100        215.05 4.04%
Greensboro, NC      1.789%            161.00   100        162.56 0.97%
Austin, TX          1.550%            316.10   100        321.54 1.72%
San Antonio, TX     1.490%            226.50   100        228.61 0.93%
Cumulative HPA                                 0.00%             2.59%
HPA Factor (50%                               0.00%             1.30%
Cumulative HPA)
HPA Amount                                                       $     
(1) Actual POI Value as of June 30, 2013 represents the value as published
in the POI for each market as of the date of the final prospectus for the 5%
Series A Participating Preferred Shares and will remain constant for purposes
of calculating the HPA Amount notwithstanding any subsequent revisions by the

Contact: Peter J. Nelson
American Homes 4 Rent
Tel: (310) 774-5394

SOURCE American Homes 4 Rent

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