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Summary of Critical and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Depreciable Life of Various Categories of Fixed Assets
The depreciable life of various categories of fixed assets is as follows:
Computer software and equipment
3 - 5 years
Interior apartment home improvements5 years
Furniture, fixtures and equipment
5 - 10 years
Land improvements and certain exterior components of real property10 years
Real estate structures30 years
Schedule of Cash and Cash Equivalents Reconciliation
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows ($ in thousands):
December 31,
 202420232022
Cash and cash equivalents - unrestricted$66,795 $391,749 $33,295 
Cash and cash equivalents - restricted9,051 8,585 9,386 
Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows$75,846 $400,334 $42,681 
Schedule of Restricted Cash Reconciliation
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows ($ in thousands):
December 31,
 202420232022
Cash and cash equivalents - unrestricted$66,795 $391,749 $33,295 
Cash and cash equivalents - restricted9,051 8,585 9,386 
Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows$75,846 $400,334 $42,681 
Schedule of Components of Marketable Securities
As of December 31, 2024 and 2023, marketable securities consisted of the following ($ in thousands):

 December 31, 2024
Amortized
Cost		Gross
Unrealized
Gain (Loss)		Carrying
Value
Equity securities:
Investment funds - debt securities$2,645 $(67)$2,578 
Common stock, preferred stock, and stock funds49,195 18,021 67,216 
Total - Marketable securities$51,840 $17,954 $69,794 

 December 31, 2023
Amortized
Cost		Gross
Unrealized Gain (Loss)		Carrying
Value
Equity securities:
Investment funds - debt securities$26,460 $(1,584)$24,876 
Common stock, preferred stock, and stock funds51,328 11,591 62,919 
Total - Marketable securities$77,788 $10,007 $87,795 
Summary of Status of Cash Dividends Distributed
Cash dividends distributed for the years ended December 31, 2024, 2023 and 2022 related to common stock were classified for federal income tax purposes as follows:
Year Ended December 31,
 202420232022
Common Stock
Ordinary income98.19 %88.46 %80.17 %
Capital gain1.81 %8.32 %16.78 %
Unrecaptured section 1250 capital gain— %3.22 %3.05 %
 100.00 %100.00 %100.00 %
Schedule of Changes in Accumulated Other Comprehensive Income, Net by Component
Essex Property Trust, Inc.
($ in thousands)
Change in fair
value and
amortization
of swap settlements
Balance at December 31, 2023$33,556 
Other comprehensive loss before reclassification(8,955)
Amounts reclassified from accumulated other comprehensive loss54 
Other comprehensive loss(8,901)
Balance at December 31, 2024$24,655 

Essex Portfolio, L.P.
($ in thousands)
Change in fair
value and
amortization
of swap settlements
Balance at December 31, 2023$38,646 
Other comprehensive loss before reclassification(9,273)
Amounts reclassified from accumulated other comprehensive loss56 
Other comprehensive loss(9,217)
Balance at December 31, 2024$29,429 
Schedule of Changes in the Redemption Value of Redeemable Noncontrolling Interests
The changes in the redemption value of redeemable noncontrolling interest for the years ended December 31, 2024, 2023 and 2022 were as follows:
 202420232022
Balance at January 1,$32,205 $27,150 $34,666 
Reclassifications due to change in redemption value and other(835)5,055 (7,038)
Redemptions(521)— (478)
Balance at December 31, $30,849 $32,205 $27,150