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Summary of Critical and Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
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):
 202320222021
Cash and cash equivalents - unrestricted$391,749 $33,295 $48,420 
Cash and cash equivalents - restricted8,585 9,386 10,218 
Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows$400,334 $42,681 $58,638 
Schedule of Restricted Cash Reconciliation
The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the consolidated statements of cash flows ($ in thousands):
 202320222021
Cash and cash equivalents - unrestricted$391,749 $33,295 $48,420 
Cash and cash equivalents - restricted8,585 9,386 10,218 
Total unrestricted and restricted cash and cash equivalents shown in the consolidated statements of cash flows$400,334 $42,681 $58,638 
Schedule of Components of Marketable Securities
As of December 31, 2023 and 2022, marketable securities consist of the following ($ in thousands):

 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 

 December 31, 2022
Amortized
Cost		Gross
Unrealized Loss		Carrying
Value
Equity securities:
Investment funds - debt securities$43,155 $(6,771)$36,384 
Common stock, preferred stock, and stock funds78,481 (2,122)76,359 
Total - Marketable securities$121,636 $(8,893)$112,743 
Summary of Status of Cash Dividends Distributed
The status of cash dividends distributed for the years ended December 31, 2023, 2022, and 2021 related to common stock are classified for tax purposes as follows:
 
 202320222021
Common Stock
Ordinary income88.46 %80.17 %70.92 %
Capital gain8.32 %16.78 %22.07 %
Unrecaptured section 1250 capital gain3.22 %3.05 %7.01 %
 100.00 %100.00 %100.00 %
Schedule of Changes in Accumulated Other Comprehensive Income, Net by Component
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, 2022$46,466 
Other comprehensive loss before reclassification(12,930)
Amounts reclassified from accumulated other comprehensive loss20 
Other comprehensive loss(12,910)
Balance at December 31, 2023$33,556 


Changes in Accumulated Other Comprehensive Income, by Component
Essex Portfolio, L.P. ($ in thousands)
Change in fair
value and
amortization
of swap settlements
Balance at December 31, 2022$52,010 
Other comprehensive loss before reclassification(13,384)
Amounts reclassified from accumulated other comprehensive loss20 
Other comprehensive loss(13,364)
Balance at December 31, 2023$38,646 
Schedule of Changes in the Redemption Value of Redeemable Noncontrolling Interests
The changes in the redemption value of redeemable noncontrolling interests for the years ended December 31, 2023, 2022, and 2021 are as follows:
 202320222021
Balance at January 1,$27,150 $34,666 $32,239 
Reclassifications due to change in redemption value and other5,055 (7,038)6,890 
Redemptions— (478)(4,463)
Balance at December 31, $32,205 $27,150 $34,666