Net Income Per Common Share and Net Income Per Common Unit (Tables)

12 Months Ended

Dec. 31, 2024

Net Income Per Share and Net Income Per Unit [Line Items]

Schedule of Net Income Per Common Share and Net Income Per Unit

Basic and diluted income per share was calculated as follows ($ in thousands, except share and per share amounts):

	Year Ended December 31,
	2024					2023					2022
	Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount		Income		Weighted- average Common Shares	Per Common Share Amount
Basic:
Net income available to common stockholders	$	741,522	64,228,356	$	11.55	$	405,825	64,252,232	$	6.32	$	408,315	65,079,764	$	6.27
Effect of dilutive securities
Stock options	—		22,878			—		1,153			—		18,422
Diluted:
Net income available to common stockholders	$	741,522	64,251,234	$	11.54	$	405,825	64,253,385	$	6.32	$	408,315	65,098,186	$	6.27

Essex Portfolio, L.P.

Net Income Per Share and Net Income Per Unit [Line Items]

Schedule of Net Income Per Common Share and Net Income Per Unit

Basic and diluted income per unit was calculated as follows ($ in thousands, except unit and per unit amounts):

	Year Ended December 31,
	2024					2023					2022
	Income		Weighted- average Common Units	Per Common Unit Amount		Income		Weighted- average Common Units	Per Common Unit Amount		Income		Weighted- average Common Units	Per Common Unit Amount
Basic:
Net income available to common unitholders	$	767,936	66,511,030	$	11.55	$	420,109	66,513,303	$	6.32	$	422,612	67,356,105	$	6.27
Effect of dilutive securities
Stock options	—		22,878			—		1,153			—		18,422
Diluted:
Net income available to common unitholders	$	767,936	66,533,908	$	11.54	$	420,109	66,514,456	$	6.32	$	422,612	67,374,527	$	6.27