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

9 Months Ended

Sep. 30, 2025

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

Schedule of Net Income Per Common Share

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

	Three Months Ended September 30,
	2025					2024
	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	$	164,621	64,404,008	$	2.56	$	118,424	64,227,662	$	1.84
Effect of Dilutive Securities:
Stock options	—		14,232			—		43,797
Diluted:
Net income available to common stockholders	$	164,621	64,418,240	$	2.56	$	118,424	64,271,459	$	1.84

	Nine Months Ended September 30,
	2025					2024
	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	$	589,093	64,368,625	$	9.15	$	484,069	64,214,258	$	7.54
Effect of Dilutive Securities:
Stock options	—		23,619			—		20,100
Diluted:
Net income available to common stockholders	$	589,093	64,392,244	$	9.15	$	484,069	64,234,358	$	7.54

Essex Portfolio, L.P.

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

Schedule of Net Income Per Common Share

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

	Three Months Ended September 30,
	2025					2024
	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	$	170,388	66,660,423	$	2.56	$	122,630	66,508,041	$	1.84
Effect of Dilutive Securities:
Stock options	—		14,232			—		43,797
Diluted:
Net income available to common unitholders	$	170,388	66,674,655	$	2.56	$	122,630	66,551,838	$	1.84

	Nine Months Ended September 30,
	2025					2024
	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	$	609,920	66,643,952	$	9.15	$	501,144	66,480,312	$	7.54
Effect of Dilutive Securities:
Stock options	—		23,619			—		20,100
Diluted:
Net income available to common unitholders	$	609,920	66,667,571	$	9.15	$	501,144	66,500,412	$	7.54