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Stock-based Compensation - Summary of Non-Performance Based Restricted Stock Units (Details) - Restricted stock units (RSUs)	3 Months Ended
	Mar. 31, 2026 $ / shares shares
Target Shares
Balance at Beginning of Period (in shares) \| shares	222,828
Granted (in shares) \| shares	110,997
Vested (in shares) \| shares	(2,995)
Forfeited (in shares) \| shares	(30,882)
Balance at End of Period (in shares) \| shares	299,948
Weighted Average Grant Date Fair Value
Shares outstanding at the beginning of the period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 86.51
Granted, weighted average grant date fair value (in dollars per share) \| $ / shares	42.61
Vested, weighted average grant date fair value (in dollars per share) \| $ / shares	71.97
Forfeited, weighted average grant date fair value (in dollars per share) \| $ / shares	104.36
Shares outstanding at the end of the period, weighted average grant date fair value (in dollars per share) \| $ / shares	$ 68.63

Accrued Expenses and Other Liabilities

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities Disclosures

ACCRUED EXPENSES AND OTHER LIABILITIES

Accrued and other liabilities consist of the following (in thousands):





	March 31,		December 31,
	2026		2025
Real estate inventory development and construction payable	$	57,001	$	57,103
Taxes payable	10,689		9,704
Land banking financing arrangements	4,224		7,976
Accrued compensation, bonuses and benefits	7,703		14,677
Warranty reserve	14,300		14,500
Accrued interest	26,929		14,223
Inventory related obligations	11,371		11,641
Lease liability	5,049		5,139
Contract deposits	6,380		5,845
Other	16,079		17,163
Total accrued expenses and other liabilities	$	159,725	$	157,971

Land Banking Financing Arrangements

We have land banking financing arrangements with a third-party land banker to repurchase land that we sold to the land banker as a method of acquiring finished lots in staged takedowns. Principal payments on these financing arrangements will generally coincide with the repurchase of lot takedowns from the land banker. We expect to complete the repurchase of all lots via takedowns associated with these transactions over the course of less than a year.

Inventory Related Obligations

We own lots in certain communities in Florida and Texas that have Community Development Districts or similar utility and infrastructure development special assessment programs that allocate a fixed amount of debt service associated with development activities to each lot. This obligation for infrastructure development is attached to the land, which is typically payable over a 30-year period and is ultimately assumed by the homebuyer when home sales are closed. The obligations assumed by the homebuyer represent a non-cash cost of the lots.

Estimated Warranty Reserve

We generally provide homebuyers with a one-year warranty on the house and a limited warranty for major defects in structural elements, such as framing components and foundation systems, typically ranging from six to ten years depending on the applicable state.

Changes to our warranty accrual are as follows (in thousands):





	Three Months Ended March 31,
	2026		2025

Warranty reserves, beginning of period	$	14,500	$	16,100
Warranty provision	535		1,594
Warranty expenditures	(735)		(1,194)
Warranty reserves, end of period	$	14,300	$	16,500

Real Estate Inventory

3 Months Ended

Mar. 31, 2026

Inventory Disclosure [Abstract]

Real Estate Inventory Disclosures

REAL ESTATE INVENTORY

Our real estate inventory consists of the following (in thousands):





	March 31,		December 31,
	2026		2025

Land, land under development and finished lots	$	2,585,692	$	2,601,578
Information centers	64,016		61,940
Homes in progress	321,503		261,850
Completed homes	565,296		587,219
Total owned inventory	3,536,507		3,512,587
Real estate not owned	4,224		7,976
Total real estate inventory	$	3,540,731	$	3,520,563

Our real estate not owned relates to land banking financing arrangements with a third-party land banker to repurchase land that we sold to the land banker as a method of acquiring finished lots in staged takedowns, while limiting risk and minimizing the use of funds from our available cash or other financing sources.

We build and lease a number of single-family homes in select, existing communities. During the three months ended March 31, 2026 and 2025, we transferred $25.4 million and $13.4 million, respectively, of home assets from real estate inventory to rental properties within property and equipment, net. We are lessors of the homes representing these home assets.

Stock-based Compensation - Summary of Performance Based Restricted Stock Units (Details) - Performance Based Shares - $ / shares	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
Target Shares
Balance at Beginning of Period (in shares)	248,122
Granted (in shares)	191,158
Forfeited (in shares)	(36,883)
Vested (in shares)	(32,205)
Balance at End of Period (in shares)	370,192
Weighted Average Grant Date Fair Value
Weighted average grant date fair value (in dollars per share)	$ 65.81	$ 92.92
Granted, weighted average grant date fair value (in dollars per share)	44.40
Vested, weighted average grant date fair value (in dollars per share)	0
Forfeited, weighted average grant date fair value (in dollars per share)	$ 104.36

Stock-Based Compensation

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation Disclosures

STOCK-BASED COMPENSATION

Non-performance Based Restricted Stock Units

The following table summarizes the activity of our time-vested restricted stock units (“RSUs”) for the three months ended March 31, 2026:


	Three Months Ended March 31, 2026
	Shares	Weighted Average Grant Date Fair Value
Beginning balance	222,828	$	86.51
Granted	110,997	$	42.61
Vested	(2,995)	$	71.97
Forfeited	(30,882)	$	104.36
Ending balance	299,948	$	68.63

We recognized $1.5 million and $1.7 million of stock-based compensation expense related to outstanding RSUs for the three months ended March 31, 2026 and 2025, respectively. Generally, the RSUs cliff vest on the third anniversary of the grant date and can only be settled in shares of our common stock. At March 31, 2026, we had unrecognized compensation cost of $11.6 million related to unvested RSUs, which is expected to be recognized over a weighted average period of 2.1 years.

Performance-Based Restricted Stock Units

The Compensation Committee of the Board has granted awards of performance-based RSUs (“PSUs”) under the Amended and Restated LGI Homes, Inc. 2013 Equity Incentive Plan to certain members of senior management based on three-year performance cycles. The PSUs provide for shares of our common stock to be issued based on the attainment of certain performance metrics over the applicable three-year periods. The number of shares of our common stock that may be issued to the recipients for the PSUs range from 0% to 200% of the target amount depending on actual results as compared to the target performance metrics. The terms of the PSUs provide that the payouts will be capped at 100% of the target number of PSUs granted if absolute total stockholder return is negative during the performance period, regardless of EPS performance; this market condition applies for amounts recorded above target. The compensation expense associated with the PSU grants is determined using the derived grant date fair value, based on a third-party valuation analysis, and expensed over the applicable period. The PSUs vest upon the determination date for the actual results at the end of the three-year period and require that the recipients continue to be employed by us through the determination date. The PSUs can only be settled in shares of our common stock.

The following table summarizes the activity of our PSUs for the three months ended March 31, 2026:


	Three Months Ended March 31, 2026
	Target Shares	Weighted Average Grant Date Fair Value
Beginning balance	248,122	$	92.92
Granted	191,158	$	44.40
Vested	(36,883)	$	—
Forfeited	(32,205)	$	104.36
Ending balance	370,192	$	65.81

At March 31, 2026, management estimates that the recipients will receive approximately 51.6% of the weighted average target number of PSUs outstanding at the end of the applicable three-year performance cycle based on projected performance compared to the target performance metrics. We recognized $0.6 million and $0.6 million of total stock-based compensation expense related to outstanding PSUs for the three months ended March 31, 2026 and 2025, respectively. At March 31, 2026, we had unrecognized compensation cost of $8.3 million, based on the probable amount, related to unvested PSUs, which is expected to be recognized over a weighted average period of 3 years. PSUs granted in 2024, 2025, and 2026 are excluded from the calculation of diluted EPS as they are subject to unsatisfied performance conditions.

Equity (Tables)

3 Months Ended

Mar. 31, 2026

Equity [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025:





	Three Months Ended March 31,
	2026		2025
Numerator (in thousands):
Net income (Numerator for basic and diluted earnings per share)	$	2,160	$	3,994
Denominator:
Basic weighted average shares outstanding	23,149,912		23,396,470
Effect of dilutive securities:
Stock-based compensation units	69,312		70,276
Diluted weighted average shares outstanding	23,219,224		23,466,746

Basic earnings per share	$	0.09	$	0.17
Diluted earnings per share	$	0.09	$	0.17
Antidilutive non-vested restricted stock units excluded from calculations of diluted earnings per share	76,194		50,771

Revenues (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Revenue from External Customers by Products

The following table presents our home sales revenues disaggregated by revenue stream (in thousands):





	Three Months Ended March 31,
	2026		2025

Retail home sales revenues	$	289,975	$	296,939
Wholesale home sales revenues	29,761		54,481
Total home sales revenues	$	319,736	$	351,420

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		43 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Sep. 30, 2025	Dec. 31, 2025	Feb. 28, 2022
Equity [Abstract]
Common stock, shares authorized (in shares)	250,000,000			250,000,000
Common stock, par value (in dollars per share)	$ 0.01			$ 0.01
Common stock, shares, issued (in shares)	27,888,871			27,789,678
Common stock, shares outstanding (in shares)	23,232,279			23,133,086
Treasury stock, common (in shares)	4,656,592			4,656,592
Stock repurchase program, additional amount authorized					$ 200,000
Stock repurchase program, authorized amount					$ 550,000
Shares repurchased	0	41,685	3,656,592
Stock repurchased during period		$ 3,051
Stock repurchase program, remaining authorized repurchase amount	$ 157,300
Stock repurchased, excise taxes and commissions		$ 3,100

Accrued Expenses and Other Liabilities - Narrative (Details)	3 Months Ended
	Mar. 31, 2026
Product Warranty Liability [Line Items]
Inventory related obligation term	30 years
Other Construction Components
Product Warranty Liability [Line Items]
Limited warranty period	1 year
Structural Elements \| Minimum
Product Warranty Liability [Line Items]
Inventory related obligation term	6 years
Structural Elements \| Maximum
Product Warranty Liability [Line Items]
Inventory related obligation term	10 years

Notes Payable - Schedule of Notes Payable (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2025	Jul. 23, 2025	Apr. 28, 2025
Debt Instrument [Line Items]
Notes payable	$ 1,709,457	$ 1,656,803
Net debt issuance costs	(19,413)	(20,838)
8.750% Senior Notes Due 2028
Debt Instrument [Line Items]
Notes payable	400,000	400,000
8.750% Senior Notes Due 2028 \| Senior Notes
Debt Instrument [Line Items]
Notes payable	$ 400,000	400,000
Stated interest rate on note	8.75%
Base spread on variable rate	8.75%
4.000% Senior Notes Due 2029
Debt Instrument [Line Items]
Notes payable	$ 300,000	300,000
4.000% Senior Notes Due 2029 \| Senior Notes
Debt Instrument [Line Items]
Notes payable	$ 300,000	300,000
Stated interest rate on note	4.00%
Base spread on variable rate	4.00%
7.000% Senior Notes Due 2032
Debt Instrument [Line Items]
Notes payable	$ 400,000	400,000
7.000% Senior Notes Due 2032 \| Senior Notes
Debt Instrument [Line Items]
Notes payable	$ 400,000	400,000
Stated interest rate on note	7.00%
Base spread on variable rate	7.00%
Loan Agreement
Debt Instrument [Line Items]
Notes payable	$ 50,000	50,000
Loan Agreement \| Secured Debt
Debt Instrument [Line Items]
Notes payable	$ 50,000	50,000
Stated interest rate on note	6.433%		6.433%
Sixth Amendment And Restated Credit Agreement \| Line of Credit \| Revolving Credit Facility
Debt Instrument [Line Items]
Notes payable	$ 578,870	$ 527,641
Line of credit facility				$ 1,182,500
Stated interest rate on note		1.85%

Notes Payable - Revolving Credit Agreement (Details) - USD ($) $ in Millions			3 Months Ended
	Apr. 28, 2025	Apr. 29, 2022	Mar. 31, 2026	Dec. 31, 2025
Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit agreement, gross assets		$ 0.5
4.000% Senior Notes Due 2029 \| Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate on note			4.00%
Base spread on variable rate			4.00%
4.000% Senior Notes Due 2029 \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Letters of credit outstanding			$ 19.3
Fifth Amended and Restated Credit Agreement \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility			2,000.0
Line of credit, amount outstanding			2,000.0
Letters of credit outstanding				$ 19.5
Line of credit facility, remaining borrowing capacity			$ 294.2
Variable interest rate		0.10%	3.67%
Fifth Amended and Restated Credit Agreement \| Line of Credit \| One Month \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Base spread on variable rate		0.10%
Fifth Amended and Restated Credit Agreement \| Line of Credit \| Three Months \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Base spread on variable rate		0.15%
Fifth Amended and Restated Credit Agreement \| Line of Credit \| Six Months \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Base spread on variable rate		0.25%
Fifth Amended and Restated Credit Agreement \| Minimum \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Base spread on variable rate		1.45%
Variable interest rate		0.50%	0.50%
Fifth Amended and Restated Credit Agreement \| Maximum \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Base spread on variable rate		2.10%
8.750% Senior Notes Due 2028 \| Senior Notes
Line of Credit Facility [Line Items]
Stated interest rate on note			8.75%
Base spread on variable rate			8.75%
8.750% Senior Notes Due 2028 \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, amount outstanding			$ 1,700.0
Sixth Amendment And Restated Credit Agreement
Line of Credit Facility [Line Items]
Commitments by lenders	$ 972.5
Commitments by lenders	82.20%
Commitments by lenders remaining	17.80%
Sixth Amendment And Restated Credit Agreement \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility	$ 1,182.5
Line of credit facility, maximum increase	$ 95.0
Stated interest rate on note				1.85%
The Credit Agreement \| Line of Credit \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Base spread on variable rate			1.85%

Changes in Warranty Reserve (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Product Warranty, Increase (Decrease) [Roll Forward]
Warranty reserves, beginning of period	$ 14,500	$ 16,100
Warranty provision	535	1,594
Warranty expenditures	(735)	(1,194)
Warranty reserves, end of period	$ 14,300	$ 16,500
Other Construction Components
Product Warranty Liability [Line Items]
Limited warranty period	1 year

Notes Payable

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Notes Payable Disclosures

NOTES PAYABLE

Revolving Credit Agreement

We are a party to the Fifth Amended and Restated Credit Agreement, dated as of April 28, 2021, with several financial institutions, and Wells Fargo Bank, National Association, as administrative agent (as amended to date, the “Credit Agreement”). The Credit Agreement provides for a $1.1825 billion revolving credit facility, which can be increased at the request of the Company by up to $95.0 million, subject to the terms and conditions of the Credit Agreement. The Credit Agreement matures on April 28, 2029 with respect to $972.5 million, or 82.2%, of the $1.1825 billion of commitments thereunder and on April 28, 2028 with respect to 17.8% of the commitments thereunder.

Before each anniversary of the Credit Agreement, we may request a one-year extension of its maturity date. The Credit Agreement is guaranteed by, among others, each of our subsidiaries that have gross assets of at least $0.5 million, other than subsidiaries whose sole purpose is to own and operate single-family rental homes.

The borrowings and letters of credit outstanding under the Credit Agreement, together with the outstanding principal balance of our 8.750% Senior Notes due 2028 (the “2028 Senior Notes”), our 4.000% Senior Notes due 2029 (the “2029 Senior Notes”) and our 7.000% Senior Notes due 2032 (the “2032 Senior Notes”), may not exceed the borrowing base under the Credit Agreement. The borrowing base primarily consists of a percentage of commercial land, land held for development, lots under development and finished lots held by the Company and its subsidiaries that guarantee the obligations under the Credit Agreement. As of March 31, 2026, the borrowing base under the Credit Agreement was $2.0 billion, of which the maximum available to borrow was $2.0 billion. As of March 31, 2026, borrowings under the Credit Agreement and the outstanding principal amount of the 2028 Senior Notes, the 2029 Senior Notes and the 2032 Senior Notes totaled approximately $1.7 billion, $19.3 million of letters of credit were outstanding and $294.2 million was available to borrow under the Credit Agreement.

Borrowings under the Credit Agreement bear interest, payable monthly in arrears, at the Company’s option, at either (1) the Adjusted Term SOFR (defined as a term SOFR that is based on a fixed 1, 3 or 6 month interest period, as selected by the Company, plus a 10, 15 or 25 basis point adjustment, respectively), which rate is subject to a 50 basis point floor, plus an applicable margin ranging from 145 basis points to 210 basis points (the “Applicable Margin”) based on the Company’s leverage ratio as determined in accordance with a pricing grid, or (2) the Base Rate (defined as a term SOFR that is based on a daily variable 1 month interest period plus a 10 basis point adjustment), subject to a 50 basis point floor, plus the Applicable Margin. At March 31, 2026, the Applicable Margin was 1.85%, and SOFR was 3.67%, subject to the 0.50% SOFR floor as included in the Credit Agreement.

The Credit Agreement contains various financial covenants, including a minimum tangible net worth, a maximum leverage ratio, a minimum liquidity amount and a minimum EBITDA to interest expense ratio. The Credit Agreement contains various covenants that, among other restrictions, (i) limit the amount of our additional debt and our ability to make certain investments and (ii) restrict the repurchase of shares and payment of dividends through December 31, 2026. At March 31, 2026, we were in compliance with all of the covenants contained in the Credit Agreement.

LGI Living Loan Agreement

On July 23, 2025, the Company’s indirect, wholly owned special purpose subsidiary LGI Living - SFR 1, LLC (“LGI Living SFR”) entered into a Loan Agreement (the “LGI Living Loan Agreement”) with Evergreen Residential Capital, LLC, as lender. The LGI Living Loan Agreement provides for a secured non-recourse loan for up to $50.0 million, which can be increased at the request of LGI Living SFR by up to $75.0 million (for a total of $125.0 million), subject to the terms and conditions of the LGI Living Loan Agreement.

As of March 31, 2026, the total amount of borrowings outstanding under the LGI Living Loan Agreement was $50.0 million. The loan matures on July 8, 2030 and bears interest at a rate of 6.433% per annum, which may be adjusted in connection with an increase in the amount of the loan. The loan is unconditionally guaranteed as to payment and performance by the Company under a limited recourse guaranty with respect to (i) certain losses and liabilities to the extent such losses or liabilities are actually incurred by the lender and (ii) the entire amount of the loan upon the occurrence of certain events. The LGI Living Loan Agreement requires that the Company, as guarantor, maintain (i) liquidity of not less than 15% of the loan amount and (ii) net worth in excess of 50% of the loan amount.

The loan is unconditionally guaranteed as to payment and performance by LGI Living - ER FIN, LLC, as the direct owner of the equity interests in LGI Living SFR, but recourse under such guaranty is limited to LGI Living - ER FIN, LLC’s equity interests in LGI Living SFR, which are pledged as collateral for the loan. The loan is also secured by a security interest in all assets of LGI Living SFR, including a mortgage lien on certain of LGI Living SFR’s real property. The LGI Living Loan Agreement includes certain restrictive covenants that may limit LGI Living SFR’s ability to, among other things, incur additional indebtedness or make certain investments. The LGI Living Loan Agreement contains representations and warranties, affirmative covenants, and events of default, all of which the Company believes are customary for special purpose subsidiary real estate secured loan agreements. If an event of default exists under the LGI Living Loan Agreement, the lender will be able

to accelerate the maturity of the loan and exercise other rights and remedies. At March 31, 2026, we were in compliance with all of the covenants contained in the LGI Living Loan Agreement.

Senior Notes Offering

On November 15, 2024, we issued $400.0 million aggregate principal amount of the 2032 Senior Notes in an offering to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A (“Rule 144A”) under the Securities Act of 1933, as amended (the “Securities Act”), and to certain non-U.S. persons in transactions outside the United States pursuant to Regulation S (“Regulation S”) under the Securities Act. Interest on the 2032 Senior Notes accrues at a rate of 7.000% per annum, payable semi-annually in arrears on May 15 and November 15 of each year. The 2032 Senior Notes mature on November 15, 2032. The terms of the 2032 Senior Notes are governed by an Indenture, dated as of July 6, 2018, and Fifth Supplemental Indenture thereto, dated as of November 15, 2024, as may be supplemented from time to time, among us, our subsidiaries that guarantee our obligations under the Credit Agreement and Regions Bank, as trustee.

On November 21, 2023, we issued $400.0 million aggregate principal amount of the 2028 Senior Notes in an offering to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A and to certain non-U.S. persons in transactions outside the United States pursuant to Regulation S. Interest on the 2028 Senior Notes accrues at a rate of 8.750% per annum, payable semi-annually in arrears on June 15 and December 15 of each year. The 2028 Senior Notes mature on December 15, 2028. The terms of the 2028 Senior Notes are governed by an Indenture, dated as of July 6, 2018, and Fourth Supplemental Indenture thereto, dated as of November 21, 2023, as may be supplemented from time to time, among us, our subsidiaries that guarantee our obligations under the Credit Agreement and Regions Bank, as trustee.

On June 28, 2021, we issued $300.0 million aggregate principal amount of the 2029 Senior Notes in an offering to persons reasonably believed to be qualified institutional buyers in the United States pursuant to Rule 144A and to certain non-U.S. persons in transactions outside the United States pursuant to Regulation S. Interest on the 2029 Senior Notes accrues at a rate of 4.000% per annum, payable semi-annually in arrears on January 15 and July 15 of each year. The 2029 Senior Notes mature on July 15, 2029. The terms of the 2029 Senior Notes are governed by an Indenture, dated as of July 6, 2018, and Third Supplemental Indenture thereto, dated as of June 28, 2021, as may be supplemented from time to time, among us, our subsidiaries that guarantee our obligations under the Credit Agreement and Wilmington Trust, National Association, as trustee.

Notes payable consist of the following (in thousands):




	March 31,		December 31,
	2026		2025
Notes payable under the Credit Agreement ($1.1825 billion revolving credit facility at March 31, 2026, maturing in part on April 28, 2028 and in part on April 28, 2029, with interest paid monthly at SOFR plus 1.85%; $1.1825 billion revolving credit facility at December 31, 2025, maturing in part on April 28, 2028 and in part on April 28, 2029, with interest paid monthly at SOFR plus 1.85%)	$	578,870	$	527,641
8.750% Senior Notes due December 15, 2028; interest paid semi-annually at 8.750%	400,000		400,000
4.000% Senior Notes due July 15, 2029; interest paid semi-annually at 4.000%	300,000		300,000
7.000% Senior Notes due November 15, 2032; interest paid semi-annually at 7.000%	400,000		400,000
Loan payable under the LGI Living Loan Agreement maturing on July 8, 2030; with interest paid monthly at an annual rate of 6.433%	50,000		50,000
Net debt issuance costs	(19,413)		(20,838)
Total notes payable	$	1,709,457	$	1,656,803

Capitalized Interest

Interest activity, including other financing costs, for notes payable and financing arrangements for the periods presented is as follows (in thousands):






	Three Months Ended March 31,
	2026		2025
Interest incurred	$	30,177	$	29,924
Less: Amounts capitalized	(30,177)		(29,924)
Interest expense	$	—	$	—

Cash paid for interest	$	16,032	$	15,518

Included in interest incurred was amortization of deferred financing costs and applicable discounts for notes payable and financing arrangements of $2.2 million and $2.7 million for the three months ended March 31, 2026 and 2025, respectively.

Real Estate Inventory - Schedule of Real Estate Inventory (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Inventory [Line Items]
Land, land under development and finished lots	$ 2,585,692	$ 2,601,578
Information centers	64,016	61,940
Homes in progress	321,503	261,850
Completed homes	565,296	587,219
Total owned inventory	3,536,507	3,512,587
Real estate not owned	4,224	7,976
Total real estate inventory	$ 3,540,731	$ 3,520,563

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-based Compensation Arrangement by Award [Line Items]
Percentage of total units vested	100.00%
Restricted stock units (RSUs)
Share-based Compensation Arrangement by Award [Line Items]
Share-based compensation expense	$ 1.5	$ 1.7
Share-based compensation not yet recognized	$ 11.6
Share-based compensation not yet recognized, period for recognition	2 years 1 month 6 days
Performance Based Shares
Share-based Compensation Arrangement by Award [Line Items]
Share-based compensation expense	$ 0.6	$ 0.6
Share-based compensation not yet recognized	$ 8.3
Share-based compensation not yet recognized, period for recognition	3 years
Performance vesting period	3 years
Expected percent of awards to be received	51.60%
Performance Based Shares \| Minimum
Share-based Compensation Arrangement by Award [Line Items]
Percentage of total units vested	0.00%
Performance Based Shares \| Maximum
Share-based Compensation Arrangement by Award [Line Items]
Percentage of total units vested	200.00%

Fair Value Disclosures - Schedule of Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Fair Value Disclosures [Line Items]
Notes payable, carrying value	$ 1,709,457	$ 1,656,803
8.750% Senior Notes Due 2028
Fair Value Disclosures [Line Items]
Notes payable, carrying value	400,000	400,000
Senior notes, fair value	426,062	437,152
4.000% Senior Notes Due 2029
Fair Value Disclosures [Line Items]
Notes payable, carrying value	300,000	300,000
Senior notes, fair value	280,890	286,726
7.000% Senior Notes Due 2032
Fair Value Disclosures [Line Items]
Notes payable, carrying value	400,000	400,000
Senior notes, fair value	418,153	437,114
Loan Agreement
Fair Value Disclosures [Line Items]
Notes payable, carrying value	50,000	50,000
Senior notes, fair value	$ 50,519	$ 52,181

Segment Information (Details)	3 Months Ended
Segment Information (Details)	Mar. 31, 2026 USD ($) home business	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($)
Segment Reporting Information [Line Items]
Number of principal businesses \| home	1
Number of operating segments \| business	7
Number of reporting segments \| home	5
Home sales revenues	$ 319,736,000	$ 351,420,000
Cost of sales	259,807,000	277,707,000
Other segment items	55,610,000	67,989,000
Total net income before income taxes	4,319,000	5,724,000
Assets	4,010,165,000		$ 3,927,242,000
Intersegment Eliminations
Segment Reporting Information [Line Items]
Home sales revenues	0
Operating Segments \| Central
Segment Reporting Information [Line Items]
Home sales revenues	89,160,000	101,146,000
Cost of sales	73,456,000	80,515,000
Other segment items	12,576,000	23,727,000
Total net income before income taxes	3,128,000	(3,096,000)
Assets	1,189,620,000		1,162,355,000
Operating Segments \| Central
Segment Reporting Information [Line Items]
Home sales revenues	72,323,000	101,682,000
Cost of sales	56,495,000	77,721,000
Other segment items	12,116,000	15,842,000
Total net income before income taxes	3,712,000	8,119,000
Assets	819,316,000		801,556,000
Operating Segments \| Southeast
Segment Reporting Information [Line Items]
Home sales revenues	37,006,000	34,237,000
Cost of sales	31,171,000	28,422,000
Other segment items	7,456,000	4,609,000
Total net income before income taxes	(1,620,000)	1,206,000
Assets	621,890,000		598,193,000
Operating Segments \| Northwest
Segment Reporting Information [Line Items]
Home sales revenues	75,850,000	66,956,000
Cost of sales	58,301,000	51,795,000
Other segment items	14,215,000	12,676,000
Total net income before income taxes	3,333,000	2,485,000
Assets	827,113,000		800,548,000
Operating Segments \| West
Segment Reporting Information [Line Items]
Home sales revenues	45,397,000	47,399,000
Cost of sales	40,384,000	39,254,000
Other segment items	8,795,000	10,607,000
Total net income before income taxes	(3,783,000)	(2,462,000)
Assets	446,840,000		452,555,000
Corporate
Segment Reporting Information [Line Items]
Other segment items	452,000	528,000
Total net income before income taxes	(451,000)	$ (528,000)
Assets	$ 105,386,000		$ 112,035,000

Commitments and Contingencies Future Minimum Operating Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
2026	$ 1,494
2027	1,760
2028	1,265
2029	611
2030	308
Thereafter	109
Total	5,547
Lease amount representing interest	(498)
Present value of lease liabilities	$ 5,049	$ 5,139

Cover Page - shares	3 Months Ended
Cover Page - shares	Mar. 31, 2026	Apr. 24, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2026
Current Fiscal Year End Date	--12-31
Entity Registrant Name	LGI HOMES, INC.
Entity File Number	001-36126
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	46-3088013
Entity Address, Address Line One	1450 Lake Robbins Drive,
Entity Address, Address Line Two	Suite 430,
Entity Address, City or Town	The Woodlands,
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77380
City Area Code	(281)
Local Phone Number	362-8998
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	LGIH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		23,232,279
Central Index Key	0001580670
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Fiscal Year Focus	2026

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Commitments and Contingencies (Details)	3 Months Ended		12 Months Ended
Commitments and Contingencies (Details)	Mar. 31, 2026 USD ($) home	Mar. 31, 2025 USD ($)	Dec. 31, 2025 USD ($) home	Jul. 23, 2025 USD ($)
Other Commitments [Line Items]
Land deposits and option payments	$ 16,904,000		$ 19,187,000
Commitments under the land purchase option and deposit contracts if the purchases are consummated	$ 246,553,000		$ 285,654,000
Lots under land options and land purchase contracts \| home	7,822		8,952
Refundable land deposits of purchase contracts of finished lots	$ 9,300,000		$ 8,200,000
Operating Lease, Right-of-Use Asset	4,600,000		4,700,000
Present value of lease liabilities	5,049,000		5,139,000
Operating Lease, Cost	500,000	$ 500,000
Operating Lease, Payments	$ 700,000	600,000
Operating lease, weighted average discount rate	5.90%
Operating lease, weighted average remaining lease term	1 year 9 months 18 days
Letters of credit, surety bonds, and other financials guarantees	$ 380,100,000		392,200,000
Contributions to limited partnership	23,100,000		21,200,000
Income from unconsolidated entities	427,000	$ 875,000
Increase available				$ 75,000,000.0
Loan Agreement \| Secured Debt
Other Commitments [Line Items]
Borrowings	50,000,000.0			$ 50,000,000.0
Liquidity percentage				15.00%
Net worth of loan percentage				50.00%
Maximum available borrowings				$ 125,000,000.0
4.000% Senior Notes Due 2029 \| Line of Credit \| Revolving Credit Facility
Other Commitments [Line Items]
Letters of credit outstanding under revolving credit facility	$ 19,300,000
Fifth Amended and Restated Credit Agreement \| Line of Credit \| Revolving Credit Facility
Other Commitments [Line Items]
Letters of credit outstanding under revolving credit facility			$ 19,500,000

Income Taxes - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Tax at effective rate	50.00%
Income taxes paid	$ 0.2	$ 38.6
Stock-based compensation	23.84%

Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Net income	$ 2,160	$ 3,994
Basic weighted average shares outstanding	23,149,912	23,396,470
Stock-based compensation units	69,312	70,276
Diluted weighted average shares outstanding	23,219,224	23,466,746
Basic earnings per share (in dollars per share)	$ 0.09	$ 0.17
Diluted earnings per share (in dollars per share)	$ 0.09	$ 0.17
Antidilutive non-vested restricted stock units and Antidilutive non-vested performance restricted stock units excluded from calculation of diluted earnings per share subject to unsatisfied performance conditions (in shares)	76,194	50,771

Insider Trading Policies and Procedures	3 Months Ended
Insider Trading Policies and Procedures	Mar. 31, 2026
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

Revenues - Schedule of Revenues by Revenue Stream (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Home sales revenues	$ 319,736	$ 351,420
Retail
Disaggregation of Revenue [Line Items]
Home sales revenues	289,975	296,939
Wholesale
Disaggregation of Revenue [Line Items]
Home sales revenues	$ 29,761	$ 54,481

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
ASSETS
Cash and cash equivalents	$ 60,860	$ 61,247
Accounts receivable	45,011	32,467
Real estate inventory	3,540,731	3,520,563
Pre-acquisition costs and deposits	24,970	28,950
Property and equipment, net	124,805	107,145
Other assets	192,849	154,948
Deferred tax assets, net	8,921	9,904
Goodwill	12,018	12,018
Total assets	4,010,165	3,927,242
LIABILITIES AND EQUITY
Accounts payable	38,569	16,179
Accrued expenses and other liabilities	159,725	157,971
Notes payable	1,709,457	1,656,803
Total liabilities	1,907,751	1,830,953
COMMITMENTS AND CONTINGENCIES
EQUITY
COMMITMENTS AND CONTINGENCIES	278	277
Additional paid-in capital	351,272	347,308
Retained earnings	2,160,499	2,158,339
Additional paid-in capital	(409,635)	(409,635)
Total equity	2,102,414	2,096,289
Total liabilities and equity	$ 4,010,165	$ 3,927,242
Treasury stock, common (in shares)	4,656,592	4,656,592

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Statement [Abstract]
Home sales revenues	$ 319,736	$ 351,420
Cost of sales	259,807	277,707
Selling expenses	32,650	42,342
General and administrative	27,861	31,202
Cost of sales	(582)	169
General and administrative	(4,901)	(5,555)
Operating income (loss)	4,319	5,724
Income Tax Expense (Benefit)	2,159	1,730
Net income before income taxes	$ 2,160	$ 3,994
Income tax provision
Basic (in dollars per share)	$ 0.09	$ 0.17
Diluted (in dollars per share)	$ 0.09	$ 0.17
Diluted
Basic (in shares)	23,149,912	23,396,470
Diluted (in shares)	23,219,224	23,466,746

Earnings Per Share	3 Months Ended
Earnings Per Share	Mar. 31, 2026
Earnings Per Share [Abstract]
Earnings Per Share Disclosures	EARNINGS PER SHAREThe following table sets forth the computation of basic and diluted earnings per share for the three months ended March 31, 2026 and 2025:

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Payables and Accruals [Abstract]
Real estate inventory development and construction payable	$ 57,001	$ 57,103
Taxes payable	10,689	9,704
Land banking financing arrangements	4,224	7,976
Accrued compensation, bonuses and benefits	7,703	14,677
Warranty reserve	14,300	14,500	$ 16,500	$ 16,100
Accrued interest	26,929	14,223
Inventory related obligations	11,371	11,641
Lease liability	5,049	5,139
Contract deposits	6,380	5,845
Other	16,079	17,163
Total accrued expenses and other liabilities	$ 159,725	$ 157,971

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2026
Income Tax Disclosure [Abstract]
Income Tax Disclosures	INCOME TAXES We file U.S. and state income tax returns in jurisdictions with varying statutes of limitations. The statute of limitations with regards to our federal income tax filings is three years. The statute of limitations for our state tax jurisdictions is three to four years depending on the jurisdiction. In the normal course of business, we are subject to tax audits in various jurisdictions, and such jurisdictions may assess additional income taxes. We do not expect the outcome of any audit to have a material effect on our consolidated financial statements; however, audit outcomes and the timing of audit adjustments are subject to significant uncertainty. For the three months ended March 31, 2026, our effective tax rate of 50.0% is higher than the Federal statutory rate primarily as a result of a 23.84% increase for a discrete item related to the compensation cost in excess of deductions for share-based payments, the compensation limitation under Section 162(m) of the Internal Revenue Code, as amended, and state income taxes, net of the federal benefit. Income taxes paid were $0.2 million and $38.6 million for the three months ended March 31, 2026 and 2025, respectively.

Organization and Basis of Presentation	3 Months Ended
Organization and Basis of Presentation	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Basis of Presentation Disclosures	ORGANIZATION AND BASIS OF PRESENTATION Organization and Description of the Business LGI Homes, Inc., a Delaware corporation (the “Company”, “we,” “us,” or “our”), is headquartered in The Woodlands, Texas. We engage in the development of communities and the design, construction and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, Nevada, West Virginia, Virginia, Pennsylvania, Maryland and Utah. Basis of Presentation The unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. These financial statements should be read in conjunction with the consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. In the opinion of management, the accompanying unaudited consolidated financial statements include all adjustments that are of a normal recurring nature and necessary for the fair presentation of our results for the interim periods presented. Results for interim periods are not necessarily indicative of results to be expected for the full year. The accompanying unaudited financial statements as of March 31, 2026, and for the three months ended March 31, 2026 and 2025, include the accounts of the Company and its subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates, and these differences could have a significant impact on the financial statements. Recently Issued Accounting Pronouncements In November 2024, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update (“ASU”) 2024-03, “Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses” (“ASU 2024-03”), which requires disclosure of certain costs and expenses on an interim and annual basis in the notes to the financial statements. The amendments in this update are to be applied on a prospective basis, with the option for retrospective application. The guidance is effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. We are currently evaluating the impact that this standard will have on our disclosures.

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income	$ 2,160	$ 3,994
Adjustments to reconcile net income to net cash used in operating activities:
Equity in income of unconsolidated entities	(427)	(875)
Distributions of earnings from unconsolidated entities	318	3,979
Depreciation and amortization	1,190	861
Loss (gain) on disposal of assets	(1,646)	2,284
Compensation expense for equity awards	3,418	2,625
Inventory impairment	4,681	0
Deferred income taxes	983	1,117
Changes in assets and liabilities:
Accounts receivable	(12,544)	6,992
Real estate inventory	(99,061)	(186,583)
Pre-acquisition costs and deposits	3,980	4,014
Other assets	13,174	43,763
Accounts payable	22,390	18,591
Accrued expenses and other liabilities	5,835	(27,910)
Net cash used in operating activities	(55,549)	(127,148)
Cash flows from investing activities:
Purchases of property and equipment	(696)	(831)
Proceeds from sale of property and equipment	8,916	0
Investment in unconsolidated entities	(1,882)	(1,497)
Return of capital from unconsolidated entities	105	2,083
Net cash provided by (used in) investing activities	6,443	(245)
Cash flows from financing activities:
Proceeds from notes payable	116,229	172,467
Payments on notes payable	(65,000)	(30,000)
Payments on financing arrangements	3,752	8,600
Loan issuance costs	0	(210)
Proceeds from sale of stock, net of offering expenses	1,242	1,190
Stock repurchase	0	(3,051)
Net cash provided by financing activities	48,719	131,796
Net increase (decrease) in cash and cash equivalents	(387)	4,403
Cash and cash equivalents, beginning of period	61,247	53,197
Cash and cash equivalents, end of period	$ 60,860	$ 57,600

CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	250,000,000	250,000,000
Common stock, shares, issued (in shares)	27,888,871	27,789,678
Common stock, shares outstanding (in shares)	23,232,279	23,133,086
Treasury stock, common (in shares)	4,656,592	4,656,592

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Treasury Stock
Beginning Balance (in shares) at Dec. 31, 2024		27,644,413
Beginning Balance at Dec. 31, 2024	$ 2,037,228	$ 276	$ 337,161	$ 2,085,787	$ (385,996)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	3,994			3,994
Restricted stock units granted for accrued annual bonuses	540		540
Stock repurchase including excise tax	(3,051)				(3,051)
Compensation expense for equity awards	2,625		2,625
Stock issued under employee incentive plans (in shares)		49,113
Stock issued under employee incentive plans	1,190	$ 1	1,189
Ending Balance (in shares) at Mar. 31, 2025		27,693,526
Ending Balance at Mar. 31, 2025	2,042,526	$ 277	341,515	2,089,781	(389,047)
Beginning Balance (in shares) at Dec. 31, 2025		27,789,678
Beginning Balance at Dec. 31, 2025	2,096,289	$ 277	347,307	2,158,339	(409,635)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,160			2,160
Restricted stock units granted for accrued annual bonuses	(696)		(696)
Compensation expense for equity awards	3,418		3,418
Stock issued under employee incentive plans (in shares)		99,193
Stock issued under employee incentive plans	1,243	$ 1	1,242
Ending Balance (in shares) at Mar. 31, 2026		27,888,871
Ending Balance at Mar. 31, 2026	$ 2,102,414	$ 278	$ 351,272	$ 2,160,499	$ (409,635)