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)

	Years ended December 31,
	2013			2012			2011			2010			2009
Earnings:
Income before discontinued operations	$	140,882		$	127,653		$	46,958		$	47,424		$	41,244
Gain on sales of real estate		-			-			-			-			(103	)
Interest and amortization expense		116,524			111,888			103,168			87,584			86,016
Total earnings	$	257,406		$	239,541		$	150,126		$	135,008		$	127,157
Fixed charges:
Interest and amortization expense	$	116,524		$	111,888		$	103,168		$	87,584		$	86,016
Capitalized interest		16,486			10,346			8,240			9,486			10,463
Preferred stock dividends		5,472			5,472			4,753			2,170			4,860
Perpetual preferred unit distributions		-			-			1,650			6,300			6,300
Total fixed charges and preferred stock dividends and preferred unit distributions	$	138,482		$	127,706		$	117,811		$	105,540		$	107,639
Ratio of earnings to fixed charges (excluding preferred stock dividends and preferred unit distributions)		1.94	X		1.96	X		1.35	X		1.39	X		1.32		X
Ratio of earnings to combined fixed charges and preferred stock dividends and preferred unit distributions		1.86	X		1.88	X		1.27	X		1.28	X		1.18		X

ESSEX PORTFOLIO, L.P. AND SUBSIDIARIES

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

(Dollars in thousands, except ratios)

	Years ended December 31,
	2013			2012			2011			2010			2009
Earnings:
Income before discontinued operations	$	140,882		$	127,653		$	46,958		$	47,424		$	41,244
Gain on sales of real estate		-			-			-			-			(103	)
Interest and amortization expense		116,524			111,888			103,168			87,584			86,016
Total earnings	$	257,406		$	239,541		$	150,126		$	135,008		$	127,157
Fixed charges:
Interest and amortization expense	$	116,524		$	111,888		$	103,168		$	87,584		$	86,016
Capitalized interest		16,486			10,346			8,240			9,486			10,463
Preferred interest distributions		5,472			5,472			4,753			2,170			4,860
Preferred unit distributions		-			-			1,650			6,300			6,300
Total fixed charges and preferred interests and preferred unit distributions	$	138,482		$	127,706		$	117,811		$	105,540		$	107,639
Ratio of earnings to fixed charges (excluding preferred interests and preferred unit distributions)		1.94	X		1.96	X		1.35	X		1.39	X		1.32		X
Ratio of earnings to combined fixed charges and preferred interests and preferred unit distributions		1.86	X		1.88	X		1.27	X		1.28	X		1.18		X