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)

	Quarter ended June 30			Years ended December 31
	2012			2011 (1)			2010 (1)			2009 (1)				2008 (1)				2007 (1)
Earnings:
Income before discontinued operations	$	42,490		$	48,868		$	49,163		$	43,279			$	78,556			$	54,819
Gain on sales of real estate		-			-			-			(103	)			(4,578	)			-
Interest and amortization expense		27,541			103,168			87,585			86,016				85,063				85,896
Total earnings	$	70,031		$	152,036		$	136,748		$	129,192			$	159,041			$	140,715
Fixed charges:
Interest and amortization expense	$	27,541		$	103,168		$	87,585		$	86,016			$	85,063			$	85,896
Capitalized interest		2,319			8,240			9,486			10,463				10,908				5,134
Preferred stock dividends		1,368			4,753			2,170			4,860				9,241				9,174
Perpetual preferred unit distributions		-			1,650			6,300			6,300				9,909				10,238
Total fixed charges and preferred  stock dividends	$	31,228		$	117,811		$	105,541		$	107,639			$	115,121			$	110,442
Ratio of earnings to fixed charges (excluding preferred stock dividends and preferred unit distributions)		2.35	X		1.36	X		1.41	X		1.34		X		1.66		X		1.55	X
Ratio of earnings to combined fixed charges and preferred stock dividends		2.24	X		1.29	X		1.30	X		1.20		X		1.38		X		1.27	X

(1) The results of operations for 2007-2011 have been reclassified and restated to reflect discontinued operations.