Exhibit 12.1

ESSEX PROPERTY TRUST, INC. AND SUBSIDIARIES

Schedule of computation of Ratio and Earnings to Fixed Charges and Preferred Stock Dividends

(Dollars in thousands, except ratios)

	Year ended December 31,			Years ended December 31
	2010			2009			2008			2007			2006
Earnings:
Income before discontinued operations	$	50,782		$	45,052		$	80,651		$	56,737		$	46,174
Gain on sales of real estate		-			(103	)		(4,578	)		-			-
Interest expense		87,585			86,016			85,063			85,896			78,705
Total earnings	$	138,367		$	130,965		$	161,136		$	142,633		$	124,879
Fixed charges:
Interest expense	$	87,585		$	86,016		$	85,063		$	85,896		$	78,705
Capitalized interest		9,486			10,463			10,908			5,134			3,913
Preferred stock dividends		2,170			4,860			9,241			9,174			5,145
Perpetual preferred unit distributions		6,300			6,300			9,909			10,238			10,238
Total fixed charges and preferred stock dividends	$	105,541		$	107,639		$	115,121		$	110,442		$	98,001
Ratio of earnings to fixed charges (excluding preferred stock dividends and preferred unit distributions)		1.43	X		1.36	X		1.68	X		1.57	X		1.51	X
Ratio of earnings to combined fixed charges and preferred stock dividends		1.31	X		1.22	X		1.40	X		1.29	X		1.27	X