Equity Residential (EQR) 10-Q 2 Aug 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 26, 2023
Document Information [Line Items]
Entity Registrant Name	EQUITY RESIDENTIAL
Entity Central Index Key	0000906107
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Trading Symbol	EQR
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		379,032,411
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	1-12252
Entity Tax Identification Number	13-3675988
Entity Address, Address Line One	Two North Riverside Plaza
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	474-1300
Entity Incorporation, State or Country Code	MD
Title of 12(b) Security	Common Shares of Beneficial Interest,$0.01 Par Value (Equity Residential)
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
ERPOP [Member]
Document Information [Line Items]
Entity Registrant Name	ERP OPERATING LIMITED PARTNERSHIP
Entity Central Index Key	0000931182
Document Type	10-Q
Document Period End Date	Jun. 30, 2023
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
No Trading Symbol Flag	true
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	0-24920
Entity Tax Identification Number	36-3894853
Entity Address, Address Line One	Two North Riverside Plaza
Entity Address, City or Town	Chicago
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60606
City Area Code	312
Local Phone Number	474-1300
Entity Incorporation, State or Country Code	IL
Title of 12(b) Security	7.57% Notes due August 15, 2026(ERP Operating Limited Partnership)
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Land	$ 5,579,211	$ 5,580,878
Depreciable property	22,697,597	22,334,369
Projects under development	50,916	112,940
Land held for development	61,334	60,567
Investment in real estate	28,389,058	28,088,754
Accumulated depreciation	(9,428,549)	(9,027,850)
Investment in real estate, net	18,960,509	19,060,904
Investments in unconsolidated entities	304,710	279,024
Cash and cash equivalents	35,701	53,869
Restricted deposits	88,941	83,303
Right-of-use assets	463,704	462,956
Other assets	292,164	278,206
Total assets	20,145,729	20,218,262
Liabilities:
Mortgage notes payable, net	1,913,069	1,953,438
Notes, net	5,345,373	5,342,329
Line of credit and commercial paper	184,474	129,955
Accounts payable and accrued expenses	118,316	96,028
Accrued interest payable	66,238	66,310
Lease liabilities	313,866	308,748
Other liabilities	294,263	306,941
Security deposits	69,427	68,940
Distributions payable	258,841	244,621
Total liabilities	8,563,867	8,517,310
Commitments and contingencies
Redeemable Noncontrolling Interests – Operating Partnership	355,319	318,273
Shareholders' equity:
Preferred Shares of beneficial interest, $0.01 par value; 100,000,000 shares authorized; 745,600 shares issued and outstanding as of June 30, 2023 and December 31, 2022	37,280	37,280
Common Shares of beneficial interest, $0.01 par value; 1,000,000,000 shares authorized; 379,032,722 shares issued and outstanding as of June 30, 2023 and 378,429,708 shares issued and outstanding as of December 31, 2022	3,790	3,784
Paid in capital	9,472,628	9,476,085
Retained earnings	1,506,460	1,658,837
Accumulated other comprehensive income (loss)	3,708	(2,547)
Total shareholders’ equity	11,023,866	11,173,439
Noncontrolling Interests:
Operating Partnership	207,405	209,961
Partially Owned Properties	(4,728)	(721)
Total Noncontrolling Interests	202,677	209,240
Total equity	11,226,543	11,382,679
Total liabilities and equity	$ 20,145,729	$ 20,218,262

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100,000,000	100,000,000
Preferred Stock, Shares Issued	745,600	745,600
Preferred Stock, Shares Outstanding	745,600	745,600
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common Stock, Shares Authorized	1,000,000,000	1,000,000,000
Common Stock, Shares, Issued	379,032,722	378,429,708
Common Stock, Shares, Outstanding	379,032,722	378,429,708

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
REVENUES
Rental income	$ 717,309	$ 687,030	$ 1,422,397	$ 1,340,378
EXPENSES
Property and maintenance	124,771	116,355	262,350	241,229
Real estate taxes and insurance	103,080	101,850	209,749	202,538
Property management	30,679	26,559	62,145	57,306
General and administrative	18,876	16,423	35,041	33,661
Depreciation	221,355	223,806	437,185	453,767
Total expenses	498,761	484,993	1,006,470	988,501
Net gain (loss) on sales of real estate properties	(87)	107,897	100,122	107,795
Operating income	218,461	309,934	516,049	459,672
Interest and other income	2,131	596	3,669	4,124
Other expenses	(6,564)	(2,380)	(15,559)	(5,436)
Interest:
Expense incurred, net	(65,590)	(71,889)	(131,991)	(144,681)
Amortization of deferred financing costs	(2,017)	(2,124)	(3,996)	(4,201)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels	146,421	234,137	368,172	309,478
Income and other tax (expense) benefit	(336)	(291)	(634)	(573)
Income (loss) from investments in unconsolidated entities	(1,223)	(1,168)	(2,605)	(2,429)
Net income	144,862	232,678	364,933	306,476
Net (income) loss attributable to Noncontrolling Interests:
Operating Partnership	(4,554)	(7,633)	(11,613)	(10,027)
Partially Owned Properties	(1,105)	(944)	(2,082)	(1,583)
Net income attributable to controlling interests	139,203	224,101	351,238	294,866
Preferred distributions	(773)	(773)	(1,545)	(1,545)
Net income available to Common Shares	$ 138,430	$ 223,328	$ 349,693	$ 293,321
Earnings per share – basic:
Net income available to Common Shares	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Weighted average Common Shares outstanding	378,642	375,769	378,492	375,640
Earnings per share – diluted:
Net income available to Common Shares	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Weighted average Common Shares outstanding	391,187	389,363	391,063	389,463

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Comprehensive income:
Net income	$ 144,862	$ 232,678	$ 364,933	$ 306,476
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the period	13,834	(1,259)	4,054	(1,259)
Losses reclassified into earnings from other comprehensive income	1,106	2,456	2,201	4,881
Other comprehensive income (loss)	14,940	1,197	6,255	3,622
Comprehensive income	159,802	233,875	371,188	310,098
Comprehensive (income) attributable to Noncontrolling Interests	(6,135)	(8,617)	(13,890)	(11,730)
Comprehensive income attributable to controlling interests	$ 153,667	$ 225,258	$ 357,298	$ 298,368

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 364,933	$ 306,476
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	437,185	453,767
Amortization of deferred financing costs	3,996	4,201
Amortization of discounts and premiums on debt	1,740	2,891
Amortization of deferred settlements on derivative instruments	2,195	4,875
Amortization of right-of-use assets	6,357	6,103
Write-off of pursuit costs	1,993	2,515
(Income) loss from investments in unconsolidated entities	2,605	2,429
Distributions from unconsolidated entities – return on capital	290	164
Net (gain) loss on sales of real estate properties	(100,122)	(107,795)
Realized (gain) loss on sale of investment securities	87	(2,064)
Compensation paid with Company Common Shares	20,845	18,600
Changes in assets and liabilities:
(Increase) decrease in other assets	(13,258)	(2,096)
Increase (decrease) in accounts payable and accrued expenses	25,424	22,615
Increase (decrease) in accrued interest payable	(72)	(473)
Increase (decrease) in lease liabilities	(658)	(817)
Increase (decrease) in other liabilities	(8,047)	(23,985)
Increase (decrease) in security deposits	487	3,468
Net cash provided by operating activities	745,980	690,874
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(186,676)	(113,046)
Investment in real estate – development/other	(46,815)	(55,491)
Capital expenditures to real estate	(135,247)	(83,304)
Non-real estate capital additions	(1,043)	(981)
Interest capitalized for real estate and unconsolidated entities under development	(6,979)	(2,267)
Proceeds from disposition of real estate, net	133,916	255,922
Investments in unconsolidated entities - acquisitions	(989)
Investments in unconsolidated entities - development/other	(25,413)	(48,577)
Distributions from unconsolidated entities – return of capital	15	9
Purchase of investment securities and other investments	(2,500)	(1,034)
Proceeds from sale of investment securities	452	3,434
Net cash provided by (used for) investing activities	(271,279)	(45,335)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs		(228)
Mortgage notes payable, net:
Proceeds	22,896	14,586
Lump sum payoffs	(64,722)	(260,874)
Scheduled principal repayments	(54)	(2,985)
Line of credit and commercial paper:
Commercial paper proceeds	2,382,619	2,836,037
Commercial paper repayments	(2,328,100)	(2,966,121)
Finance ground lease principal payments	(1,329)	(1,229)
Proceeds from Employee Share Purchase Plan (ESPP)	2,124	2,378
Proceeds from exercise of options	11,358	18,928
Payment of offering costs		(487)
Other financing activities, net	(31)	(31)
Acquisition of Noncontrolling Interests – Partially Owned Properties	(3,737)	(32,178)
Contributions – Noncontrolling Interests – Partially Owned Properties	9	603
Contributions – Noncontrolling Interests – Operating Partnership	1	1
Distributions:
Common Shares	(487,483)	(461,605)
Preferred Shares	(2,319)	(1,545)
Noncontrolling Interests – Operating Partnership	(15,233)	(15,142)
Noncontrolling Interests – Partially Owned Properties	(3,230)	(17,232)
Net cash provided by (used for) financing activities	(487,231)	(887,124)
Net increase (decrease) in cash and cash equivalents and restricted deposits	(12,530)	(241,585)
Cash and cash equivalents and restricted deposits, beginning of period	137,172	360,236
Cash and cash equivalents and restricted deposits, end of period	124,642	118,651
Cash and cash equivalents	35,701	45,010
Restricted deposits	88,941	73,641
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	125,518	136,787
Net cash paid (received) for income and other taxes	911	687
Amortization of deferred financing costs:
Investment in real estate, net	(211)	(253)
Other assets	1,392	1,170
Mortgage notes payable, net	895	1,159
Notes, net	1,920	2,125
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	616	1,545
Notes, net	1,124	1,346
Amortization of deferred settlements on derivative instruments:
Other liabilities	(6)	(6)
Accumulated other comprehensive income	2,201	4,881
Write-off of pursuit costs:
Investment in real estate, net	316	761
Investments in unconsolidated entities	1,111	1,637
Other assets	566	117
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	1,972	1,797
Other liabilities	633	632
Realized/unrealized (gain) loss on derivative instruments:
Other assets	(3,359)
Other liabilities	(695)	1,259
Accumulated other comprehensive income	4,054	(1,259)
Interest capitalized for real estate and unconsolidated entities under development:
Investment in real estate, net	(2,988)	(675)
Investments in unconsolidated entities	(3,991)	(1,592)
Investments in unconsolidated entities - development/other:
Investments in unconsolidated entities	(24,633)	(47,887)
Other liabilities	(780)	(690)
Debt financing costs:
Mortgage notes payable, net		(228)
Right-of-use assets and lease liabilities initial measurement and reclassifications:
Right-of-use assets	(7,105)	(224)
Lease liabilities	7,105	224
Non Cash Share Distribution From Unconsolidated Entities [Abstract]
Non Cash Share Distribution From Unconsolidated Entities Investments In Unconsolidated Entities	539	4,048
Non Cash Share Distribution From Unconsolidated Entities Changes In Other Assets	$ (539)	$ (4,048)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Preferred Stock	COMMON SHARES, $0.01 PAR VALUE	PAID IN CAPITAL	RETAINED EARNINGS	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)	DISTRIBUTIONS	OPERATING PARTNERSHIP	PARTIALLY OWNED PROPERTIES
Balance, beginning of year at Dec. 31, 2021		$ 37,280	$ 3,755	$ 9,121,122	$ 1,827,063	$ (34,272)
Balance, beginning of year at Dec. 31, 2021								$ 214,094	$ 18,166
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares				1,484
Exercise of share options			4	18,924
Employee Share Purchase Plan (ESPP)				2,378
Share-based employee compensation expense:
Issuance of restricted units/shares			2	7,359				1
Share options				1,390
ESPP discount				420
Offering costs				(487)
Supplemental Executive Retirement Plan (SERP)				(269)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(27,355)					(4,823)
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership	$ (98,140)			98,140
Adjustment for Noncontrolling Interests ownership in Operating Partnership				6,632				(6,632)
PAID IN CAPITAL
Conversion of OP Units into Common Shares				1,484
Exercise of share options			4	18,924
Employee Share Purchase Plan (ESPP)				2,378
RETAINED EARNINGS
Net Income (Loss)	294,866				294,866
Common Share distributions					(470,424)
Preferred Share distributions					(1,545)
Accumulated other comprehensive income (loss) - derivative instruments:
Unrealized holding gains (losses) arising during the period	(1,259)					(1,259)
Losses reclassified into earnings from other comprehensive income	(4,881)					4,881
DISTRIBUTIONS
Distributions declared per Common Share outstanding							$ 1.25
NONCONTROLLING INTERESTS
Issuance of restricted units/shares			2	7,359				1
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(1,484)
Equity compensation associated with Noncontrolling Interests								13,159
Net income attributable to Noncontrolling Interests	10,027							10,027	1,583
Distributions to Noncontrolling Interests								(15,488)	(17,263)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	(2,649)							2,649
Adjustment for Noncontrolling Interests ownership in Operating Partnership				6,632				(6,632)
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	10,027							10,027	1,583
Contributions by Noncontrolling Interests									603
Distributions to Noncontrolling Interests								(15,488)	(17,263)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(27,355)					(4,823)
Balance, end of period at Jun. 30, 2022		37,280	3,761	9,229,738	1,649,960	(30,650)
Balance, end of period at Jun. 30, 2022					1,649,960	(30,650)		216,326	(1,734)
Balance, beginning of year at Mar. 31, 2022		37,280	3,760	9,142,969	1,661,705	(31,847)
Balance, beginning of year at Mar. 31, 2022								217,451	3,415
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares				1,310
Exercise of share options			1	4,583
Employee Share Purchase Plan (ESPP)				1,409
Share-based employee compensation expense:
Issuance of restricted units/shares				3,750
Share options				514
ESPP discount				249
Offering costs				(373)
Supplemental Executive Retirement Plan (SERP)				(106)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(27,355)					(4,823)
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership				97,201
Adjustment for Noncontrolling Interests ownership in Operating Partnership				5,587				(5,587)
PAID IN CAPITAL
Conversion of OP Units into Common Shares				1,310
Exercise of share options			1	4,583
Employee Share Purchase Plan (ESPP)				1,409
RETAINED EARNINGS
Net Income (Loss)	224,101				224,101
Common Share distributions					(235,073)
Preferred Share distributions					(773)
Accumulated other comprehensive income (loss) - derivative instruments:
Unrealized holding gains (losses) arising during the period	(1,259)					(1,259)
Losses reclassified into earnings from other comprehensive income	(2,456)					2,456
DISTRIBUTIONS
Distributions declared per Common Share outstanding							0.625
NONCONTROLLING INTERESTS
Issuance of restricted units/shares				3,750
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(1,310)
Equity compensation associated with Noncontrolling Interests								5,361
Net income attributable to Noncontrolling Interests	7,633							7,633	944
Distributions to Noncontrolling Interests								(7,593)	(1,427)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership								371
Adjustment for Noncontrolling Interests ownership in Operating Partnership				5,587				(5,587)
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	7,633							7,633	944
Contributions by Noncontrolling Interests									157
Distributions to Noncontrolling Interests								(7,593)	(1,427)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(27,355)					(4,823)
Balance, end of period at Jun. 30, 2022		37,280	3,761	9,229,738	1,649,960	(30,650)
Balance, end of period at Jun. 30, 2022					1,649,960	(30,650)		216,326	(1,734)
Balance, beginning of year at Dec. 31, 2022	11,173,439	37,280	3,784	9,476,085	1,658,837	(2,547)
Balance, beginning of year at Dec. 31, 2022	209,240							209,961	(721)
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares			2	4,657
Exercise of share options			2	11,356
Employee Share Purchase Plan (ESPP)				2,124
Share-based employee compensation expense:
Issuance of restricted units/shares			2	7,943				1
Share options				3,125
ESPP discount				398
Supplemental Executive Retirement Plan (SERP)				148
Acquisition of Noncontrolling Interests – Partially Owned Properties				(900)					(2,837)
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership	39,123			(39,123)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				6,815				(6,815)
PAID IN CAPITAL
Conversion of OP Units into Common Shares			2	4,657
Exercise of share options			2	11,356
Employee Share Purchase Plan (ESPP)				2,124
RETAINED EARNINGS
Net Income (Loss)	351,238				351,238
Common Share distributions					(502,070)
Preferred Share distributions					(1,545)
Accumulated other comprehensive income (loss) - derivative instruments:
Unrealized holding gains (losses) arising during the period	4,054					4,054
Losses reclassified into earnings from other comprehensive income	(2,201)					2,201
DISTRIBUTIONS
Distributions declared per Common Share outstanding							1.325
NONCONTROLLING INTERESTS
Issuance of restricted units/shares			2	7,943				1
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(4,659)
Equity compensation associated with Noncontrolling Interests								10,867
Net income attributable to Noncontrolling Interests	11,613							11,613	2,082
Distributions to Noncontrolling Interests								(15,640)	(3,261)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	(2,077)							2,077
Adjustment for Noncontrolling Interests ownership in Operating Partnership				6,815				(6,815)
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	11,613							11,613	2,082
Contributions by Noncontrolling Interests									9
Distributions to Noncontrolling Interests								(15,640)	(3,261)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(900)					(2,837)
Balance, end of period at Jun. 30, 2023	11,023,866	37,280	3,790	9,472,628
Balance, end of period at Jun. 30, 2023	202,677				1,506,460	3,708		207,405	(4,728)
Balance, beginning of year at Mar. 31, 2023		37,280	3,789	9,488,320	1,619,131	(11,232)
Balance, beginning of year at Mar. 31, 2023								211,718	(2,553)
COMMON SHARES, $0.01 PAR VALUE
Conversion of OP Units into Common Shares				986
Exercise of share options				3,246
Employee Share Purchase Plan (ESPP)				672
Share-based employee compensation expense:
Issuance of restricted units/shares			1	4,290				1
Share options				1,628
ESPP discount				138
Supplemental Executive Retirement Plan (SERP)				(343)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(900)					(2,837)
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership				(33,177)
Adjustment for Noncontrolling Interests ownership in Operating Partnership				7,768				(7,768)
PAID IN CAPITAL
Conversion of OP Units into Common Shares				986
Exercise of share options				3,246
Employee Share Purchase Plan (ESPP)				672
RETAINED EARNINGS
Net Income (Loss)	139,203				139,203
Common Share distributions					(251,101)
Preferred Share distributions					(773)
Accumulated other comprehensive income (loss) - derivative instruments:
Unrealized holding gains (losses) arising during the period	13,834					13,834
Losses reclassified into earnings from other comprehensive income	(1,106)					1,106
DISTRIBUTIONS
Distributions declared per Common Share outstanding							$ 0.6625
NONCONTROLLING INTERESTS
Issuance of restricted units/shares			1	4,290				1
Conversion of OP Units held by Noncontrolling Interests into OP Units held by General Partner								(986)
Equity compensation associated with Noncontrolling Interests								6,213
Net income attributable to Noncontrolling Interests	4,554							4,554	1,105
Distributions to Noncontrolling Interests								(7,736)	(452)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership								1,409
Adjustment for Noncontrolling Interests ownership in Operating Partnership				7,768				(7,768)
PARTIALLY OWNED PROPERTIES
Net income attributable to Noncontrolling Interests	4,554							4,554	1,105
Contributions by Noncontrolling Interests									9
Distributions to Noncontrolling Interests								(7,736)	(452)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(900)					(2,837)
Balance, end of period at Jun. 30, 2023	11,023,866	$ 37,280	$ 3,790	$ 9,472,628
Balance, end of period at Jun. 30, 2023	$ 202,677				$ 1,506,460	$ 3,708		$ 207,405	$ (4,728)

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Statement of Stockholders' Equity [Abstract]
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01	$ 0.01

CONSOLIDATED BALANCE SHEETS OF

CONSOLIDATED BALANCE SHEETS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Land	$ 5,579,211	$ 5,580,878
Depreciable property	22,697,597	22,334,369
Projects under development	50,916	112,940
Land held for development	61,334	60,567
Investment in real estate	28,389,058	28,088,754
Accumulated depreciation	(9,428,549)	(9,027,850)
Investment in real estate, net	18,960,509	19,060,904
Investments in unconsolidated entities	304,710	279,024
Cash and cash equivalents	35,701	53,869
Restricted deposits	88,941	83,303
Right-of-use assets	463,704	462,956
Other assets	292,164	278,206
Total assets	20,145,729	20,218,262
Liabilities:
Mortgage notes payable, net	1,913,069	1,953,438
Notes, net	5,345,373	5,342,329
Line of credit and commercial paper	184,474	129,955
Accounts payable and accrued expenses	118,316	96,028
Accrued interest payable	66,238	66,310
Lease liabilities	313,866	308,748
Other liabilities	294,263	306,941
Security deposits	69,427	68,940
Distributions payable	258,841	244,621
Total liabilities	8,563,867	8,517,310
Commitments and contingencies
Redeemable Limited Partners	355,319	318,273
Partners’ Capital:
Accumulated other comprehensive income (loss)	3,708	(2,547)
Noncontrolling Interests – Partially Owned Properties	(4,728)	(721)
Total liabilities and equity	20,145,729	20,218,262
ERPOP [Member]
ASSETS
Land	5,579,211	5,580,878
Depreciable property	22,697,597	22,334,369
Projects under development	50,916	112,940
Land held for development	61,334	60,567
Investment in real estate	28,389,058	28,088,754
Accumulated depreciation	(9,428,549)	(9,027,850)
Investment in real estate, net	18,960,509	19,060,904
Investments in unconsolidated entities	304,710	279,024
Cash and cash equivalents	35,701	53,869
Restricted deposits	88,941	83,303
Right-of-use assets	463,704	462,956
Other assets	292,164	278,206
Total assets	20,145,729	20,218,262
Liabilities:
Mortgage notes payable, net	1,913,069	1,953,438
Notes, net	5,345,373	5,342,329
Line of credit and commercial paper	184,474	129,955
Accounts payable and accrued expenses	118,316	96,028
Accrued interest payable	66,238	66,310
Lease liabilities	313,866	308,748
Other liabilities	294,263	306,941
Security deposits	69,427	68,940
Distributions payable	258,841	244,621
Total liabilities	8,563,867	8,517,310
Commitments and contingencies
Redeemable Limited Partners	355,319	318,273
Partners’ Capital:
Preference Units	37,280	37,280
General Partner	10,982,878	11,138,706
Limited Partners	207,405	209,961
Accumulated other comprehensive income (loss)	3,708	(2,547)
Total partners’ capital	11,231,271	11,383,400
Noncontrolling Interests – Partially Owned Properties	(4,728)	(721)
Total capital	11,226,543	11,382,679
Total liabilities and equity	$ 20,145,729	$ 20,218,262

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
REVENUES
Rental income	$ 717,309	$ 687,030	$ 1,422,397	$ 1,340,378
EXPENSES
Property and maintenance	124,771	116,355	262,350	241,229
Real estate taxes and insurance	103,080	101,850	209,749	202,538
Property management	30,679	26,559	62,145	57,306
General and administrative	18,876	16,423	35,041	33,661
Depreciation	221,355	223,806	437,185	453,767
Total expenses	498,761	484,993	1,006,470	988,501
Net gain (loss) on sales of real estate properties	(87)	107,897	100,122	107,795
Operating income	218,461	309,934	516,049	459,672
Interest and other income	2,131	596	3,669	4,124
Other expenses	(6,564)	(2,380)	(15,559)	(5,436)
Interest:
Expense incurred, net	(65,590)	(71,889)	(131,991)	(144,681)
Amortization of deferred financing costs	(2,017)	(2,124)	(3,996)	(4,201)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels	146,421	234,137	368,172	309,478
Income and other tax (expense) benefit	(336)	(291)	(634)	(573)
Income (loss) from investments in unconsolidated entities	(1,223)	(1,168)	(2,605)	(2,429)
Net income	144,862	232,678	364,933	306,476
Partially Owned Properties	(1,105)	(944)	(2,082)	(1,583)
Net income attributable to controlling interests	$ 139,203	$ 224,101	$ 351,238	$ 294,866
Earnings per Unit – basic:
Net income available to Units	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Earnings per Unit – diluted:
Net income available to Units	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Weighted average Units outstanding	391,187	389,363	391,063	389,463
ERPOP [Member]
REVENUES
Rental income	$ 717,309	$ 687,030	$ 1,422,397	$ 1,340,378
EXPENSES
Property and maintenance	124,771	116,355	262,350	241,229
Real estate taxes and insurance	103,080	101,850	209,749	202,538
Property management	30,679	26,559	62,145	57,306
General and administrative	18,876	16,423	35,041	33,661
Depreciation	221,355	223,806	437,185	453,767
Total expenses	498,761	484,993	1,006,470	988,501
Net gain (loss) on sales of real estate properties	(87)	107,897	100,122	107,795
Operating income	218,461	309,934	516,049	459,672
Interest and other income	2,131	596	3,669	4,124
Other expenses	(6,564)	(2,380)	(15,559)	(5,436)
Interest:
Expense incurred, net	(65,590)	(71,889)	(131,991)	(144,681)
Amortization of deferred financing costs	(2,017)	(2,124)	(3,996)	(4,201)
Income before income and other taxes, income (loss) from investments in unconsolidated entities and net gain (loss) on sales of land parcels	146,421	234,137	368,172	309,478
Income and other tax (expense) benefit	(336)	(291)	(634)	(573)
Income (loss) from investments in unconsolidated entities	(1,223)	(1,168)	(2,605)	(2,429)
Net income	144,862	232,678	364,933	306,476
Partially Owned Properties	(1,105)	(944)	(2,082)	(1,583)
Net income attributable to controlling interests	143,757	231,734	362,851	304,893
ALLOCATION OF NET INCOME:
Preference Units	773	773	1,545	1,545
General Partner	138,430	223,328	349,693	293,321
Limited Partners	4,554	7,633	11,613	10,027
Net income available to Units	$ 142,984	$ 230,961	$ 361,306	$ 303,348
Earnings per Unit – basic:
Net income available to Units	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Weighted average Units outstanding	390,032	387,664	389,942	387,531
Earnings per Unit – diluted:
Net income available to Units	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Weighted average Units outstanding	391,187	389,363	391,063	389,463

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Comprehensive income:
Net income	$ 144,862	$ 232,678	$ 364,933	$ 306,476
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the period	13,834	(1,259)	4,054	(1,259)
Losses reclassified into earnings from other comprehensive income	1,106	2,456	2,201	4,881
Other comprehensive income (loss)	14,940	1,197	6,255	3,622
Comprehensive income	159,802	233,875	371,188	310,098
Comprehensive (income) attributable to Noncontrolling Interests – Partially Owned Properties	(6,135)	(8,617)	(13,890)	(11,730)
Comprehensive income attributable to controlling interests	153,667	225,258	357,298	298,368
ERPOP [Member]
Comprehensive income:
Net income	144,862	232,678	364,933	306,476
Other comprehensive income (loss) – derivative instruments:
Unrealized holding gains (losses) arising during the period	13,834	(1,259)	4,054	(1,259)
Losses reclassified into earnings from other comprehensive income	1,106	2,456	2,201	4,881
Other comprehensive income (loss)	14,940	1,197	6,255	3,622
Comprehensive income	159,802	233,875	371,188	310,098
Comprehensive (income) attributable to Noncontrolling Interests – Partially Owned Properties	(1,105)	(944)	(2,082)	(1,583)
Comprehensive income attributable to controlling interests	$ 158,697	$ 232,931	$ 369,106	$ 308,515

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 364,933	$ 306,476
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	437,185	453,767
Amortization of deferred financing costs	3,996	4,201
Amortization of discounts and premiums on debt	1,740	2,891
Amortization of deferred settlements on derivative instruments	2,195	4,875
Amortization of right-of-use assets	6,357	6,103
Write-off of pursuit costs	1,993	2,515
(Income) loss from investments in unconsolidated entities	2,605	2,429
Distributions from unconsolidated entities – return on capital	290	164
Net (gain) loss on sales of real estate properties	(100,122)	(107,795)
Realized (gain) loss on sale of investment securities	87	(2,064)
Compensation paid with Company Common Shares	20,845	18,600
Changes in assets and liabilities:
(Increase) decrease in other assets	(13,258)	(2,096)
Increase (decrease) in accounts payable and accrued expenses	25,424	22,615
Increase (decrease) in accrued interest payable	(72)	(473)
Increase (decrease) in lease liabilities	(658)	(817)
Increase (decrease) in other liabilities	(8,047)	(23,985)
Increase (decrease) in security deposits	487	3,468
Net cash provided by operating activities	745,980	690,874
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(186,676)	(113,046)
Investment in real estate – development/other	(46,815)	(55,491)
Capital expenditures to real estate	(135,247)	(83,304)
Non-real estate capital additions	(1,043)	(981)
Interest capitalized for real estate and unconsolidated entities under development	(6,979)	(2,267)
Proceeds from disposition of real estate, net	133,916	255,922
Investments in unconsolidated entities - acquisitions	(989)
Investments in unconsolidated entities - development/other	(25,413)	(48,577)
Distributions from unconsolidated entities – return of capital	15	9
Purchase of investment securities and other investments	(2,500)	(1,034)
Proceeds from sale of investment securities	452	3,434
Net cash provided by (used for) investing activities	(271,279)	(45,335)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs		(228)
Mortgage notes payable, net:
Proceeds	22,896	14,586
Lump sum payoffs	(64,722)	(260,874)
Scheduled principal repayments	(54)	(2,985)
Line of credit and commercial paper:
Commercial paper proceeds	2,382,619	2,836,037
Commercial paper repayments	(2,328,100)	(2,966,121)
Finance ground lease principal payments	(1,329)	(1,229)
Proceeds from Employee Share Purchase Plan (ESPP)	2,124	2,378
Proceeds from exercise of EQR options	11,358	18,928
Payment of offering costs		(487)
Other financing activities, net	(31)	(31)
Acquisition of Noncontrolling Interests – Partially Owned Properties	(3,737)	(32,178)
Contributions – Noncontrolling Interests – Partially Owned Properties	9	603
Contributions – Limited Partners	1	1
Distributions:
OP Units – General Partner	(487,483)	(461,605)
Preference Units	(2,319)	(1,545)
OP Units – Limited Partners	(15,233)	(15,142)
Noncontrolling Interests – Partially Owned Properties	(3,230)	(17,232)
Net cash provided by (used for) financing activities	(487,231)	(887,124)
Net increase (decrease) in cash and cash equivalents and restricted deposits	(12,530)	(241,585)
Cash and cash equivalents and restricted deposits, beginning of period	137,172	360,236
Cash and cash equivalents and restricted deposits, end of period	124,642	118,651
Cash and cash equivalents	35,701	45,010
Restricted deposits	88,941	73,641
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	125,518	136,787
Net cash paid (received) for income and other taxes	911	687
Amortization of deferred financing costs:
Investment in real estate, net	(211)	(253)
Other assets	1,392	1,170
Mortgage notes payable, net	895	1,159
Notes, net	1,920	2,125
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	616	1,545
Notes, net	1,124	1,346
Amortization of deferred settlements on derivative instruments:
Other liabilities	(6)	(6)
Accumulated other comprehensive income	2,201	4,881
Write-off of pursuit costs:
Investment in real estate, net	316	761
Investments in unconsolidated entities	1,111	1,637
Other assets	566	117
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	1,972	1,797
Other liabilities	633	632
Realized/unrealized (gain) loss on derivative instruments:
Other assets	(3,359)
Other liabilities	(695)	1,259
Accumulated other comprehensive income	4,054	(1,259)
Interest capitalized for real estate and unconsolidated entities under development:
Investment in real estate, net	(2,988)	(675)
Investments in unconsolidated entities	3,991	1,592
Investments in unconsolidated entities - development/other:
Investments in unconsolidated entities	(24,633)	(47,887)
Debt financing costs:
Mortgage notes payable, net		(228)
Right-of-use assets and lease liabilities initial measurement and reclassifications:
Right-of-use assets	(7,105)	(224)
Lease liabilities	7,105	224
Non-cash share distribution and other transfers from unconsolidated entities:
Investments in unconsolidated entities	539	4,048
Other assets	(539)	(4,048)
ERPOP [Member]
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	364,933	306,476
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	437,185	453,767
Amortization of deferred financing costs	3,996	4,201
Amortization of discounts and premiums on debt	1,740	2,891
Amortization of deferred settlements on derivative instruments	2,195	4,875
Amortization of right-of-use assets	6,357	6,103
Write-off of pursuit costs	1,993	2,515
(Income) loss from investments in unconsolidated entities	2,605	2,429
Distributions from unconsolidated entities – return on capital	290	164
Net (gain) loss on sales of real estate properties	(100,122)	(107,795)
Realized (gain) loss on sale of investment securities	87	(2,064)
Compensation paid with Company Common Shares	20,845	18,600
Changes in assets and liabilities:
(Increase) decrease in other assets	(13,258)	(2,096)
Increase (decrease) in accounts payable and accrued expenses	25,424	22,615
Increase (decrease) in accrued interest payable	(72)	(473)
Increase (decrease) in lease liabilities	(658)	(817)
Increase (decrease) in other liabilities	(8,047)	(23,985)
Increase (decrease) in security deposits	487	3,468
Net cash provided by operating activities	745,980	690,874
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in real estate – acquisitions	(186,676)	(113,046)
Investment in real estate – development/other	(46,815)	(55,491)
Capital expenditures to real estate	(135,247)	(83,304)
Non-real estate capital additions	(1,043)	(981)
Interest capitalized for real estate and unconsolidated entities under development	(6,979)	(2,267)
Proceeds from disposition of real estate, net	133,916	255,922
Investments in unconsolidated entities - acquisitions	(989)
Investments in unconsolidated entities - development/other	(25,413)	(48,577)
Distributions from unconsolidated entities – return of capital	15	9
Purchase of investment securities and other investments	(2,500)	(1,034)
Proceeds from sale of investment securities	452	3,434
Net cash provided by (used for) investing activities	(271,279)	(45,335)
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt financing costs		(228)
Mortgage notes payable, net:
Proceeds	22,896	14,586
Lump sum payoffs	(64,722)	(260,874)
Scheduled principal repayments	(54)	(2,985)
Line of credit and commercial paper:
Commercial paper proceeds	2,382,619	2,836,037
Commercial paper repayments	(2,328,100)	(2,966,121)
Finance ground lease principal payments	(1,329)	(1,229)
Proceeds from Employee Share Purchase Plan (ESPP)	2,124	2,378
Proceeds from exercise of EQR options	11,358	18,928
Payment of offering costs		(487)
Other financing activities, net	(31)	(31)
Acquisition of Noncontrolling Interests – Partially Owned Properties	(3,737)	(32,178)
Contributions – Noncontrolling Interests – Partially Owned Properties	9	603
Contributions – Limited Partners	1	1
Distributions:
OP Units – General Partner	(487,483)	(461,605)
Preference Units	(2,319)	(1,545)
OP Units – Limited Partners	(15,233)	(15,142)
Noncontrolling Interests – Partially Owned Properties	(3,230)	(17,232)
Net cash provided by (used for) financing activities	(487,231)	(887,124)
Net increase (decrease) in cash and cash equivalents and restricted deposits	(12,530)	(241,585)
Cash and cash equivalents and restricted deposits, beginning of period	137,172	360,236
Cash and cash equivalents and restricted deposits, end of period	124,642	118,651
Cash and cash equivalents	35,701	45,010
Restricted deposits	88,941	73,641
SUPPLEMENTAL INFORMATION:
Cash paid for interest, net of amounts capitalized	125,518	136,787
Net cash paid (received) for income and other taxes	911	687
Amortization of deferred financing costs:
Investment in real estate, net	(211)	(253)
Other assets	1,392	1,170
Mortgage notes payable, net	895	1,159
Notes, net	1,920	2,125
Amortization of discounts and premiums on debt:
Mortgage notes payable, net	616	1,545
Notes, net	1,124	1,346
Amortization of deferred settlements on derivative instruments:
Other liabilities	(6)	(6)
Accumulated other comprehensive income	2,201	4,881
Write-off of pursuit costs:
Investment in real estate, net	316	761
Investments in unconsolidated entities	1,111	1,637
Other assets	566	117
(Income) loss from investments in unconsolidated entities:
Investments in unconsolidated entities	1,972	1,797
Other liabilities	633	632
Realized/unrealized (gain) loss on derivative instruments:
Other assets	(3,359)
Other liabilities	(695)	1,259
Accumulated other comprehensive income	4,054	(1,259)
Interest capitalized for real estate and unconsolidated entities under development:
Investment in real estate, net	(2,988)	(675)
Investments in unconsolidated entities	(3,991)	(1,592)
Investments in unconsolidated entities - development/other:
Investments in unconsolidated entities	(24,633)	(47,887)
Other liabilities	(780)	(690)
Debt financing costs:
Mortgage notes payable, net		(228)
Right-of-use assets and lease liabilities initial measurement and reclassifications:
Right-of-use assets	(7,105)	(224)
Lease liabilities	7,105	224
Non-cash share distribution and other transfers from unconsolidated entities:
Investments in unconsolidated entities	539	4,048
Other assets	$ (539)	$ (4,048)

CONSOLIDATED STATEMENTS OF CH_3

CONSOLIDATED STATEMENTS OF CHANGES IN CAPITAL OF ERP OPERATING LIMITED PARTNERSHIP (Unaudited) - USD ($) $ in Thousands	Total	ERPOP [Member]	Preferred Stock [Member] ERPOP [Member]	GENERAL PARTNER [Member] ERPOP [Member]	LIMITED PARTNERS [Member] ERPOP [Member]	ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [Member] ERPOP [Member]	DISTRIBUTIONS [Member] ERPOP [Member]	PARTIALLY OWNED PROPERTIES [Member] ERPOP [Member]
Balance, beginning of year at Dec. 31, 2021			$ 37,280	$ 10,951,940	$ 214,094	$ (34,272)
Balance, beginning of year at Dec. 31, 2021								$ 18,166
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				1,484	(1,484)
Exercise of EQR share options				18,928
EQR's Employee Share Purchase Plan (ESPP)				2,378
EQR restricted shares				7,361	1
EQR share options				1,390
EQR ESPP discount				420
Net income available to Units - General Partner		$ 293,321		293,321
OP Units General Partner distributions				(470,424)
Offering costs				(487)
Supplemental Executive Retirement Plan (SERP)				(269)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(27,355)
Change in market value of Redeemable Limited Partners				98,140
Adjustment for Limited Partners ownership in Operating Partnership				6,632	(6,632)
Equity compensation associated with Units - Limited Partners					13,159
Net income available to Units - Limited Partners		10,027			10,027
Units - Limited Partners distributions					(15,488)
Change in carrying value of Redeemable Limited Partners					2,649
Unrealized holding gains (losses) arising during the period	$ (1,259)	(1,259)				(1,259)
Losses reclassified into earnings from other comprehensive income	(4,881)	(4,881)				4,881
Distributions declared per Unit outstanding							$ 1.25
Net income attributable to Noncontrolling Interests	306,476	306,476						1,583
Contributions by Noncontrolling Interests								603
Distributions to Noncontrolling Interests								(17,263)
Acquisitions of Noncontrolling Interests - Partially Owned Properties								(4,823)
Balance, end of period at Jun. 30, 2022			37,280	10,883,459	216,326	(30,650)
Balance, end of period at Jun. 30, 2022								(1,734)
Balance, beginning of year at Mar. 31, 2022			37,280	10,808,434	217,451	(31,847)
Balance, beginning of year at Mar. 31, 2022								3,415
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				1,310	(1,310)
Exercise of EQR share options				4,584
EQR's Employee Share Purchase Plan (ESPP)				1,409
EQR restricted shares				3,750
EQR share options				514
EQR ESPP discount				249
Net income available to Units - General Partner		223,328		223,328
OP Units General Partner distributions				(235,073)
Offering costs				(373)
Supplemental Executive Retirement Plan (SERP)				(106)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(27,355)
Change in market value of Redeemable Limited Partners				97,201
Adjustment for Limited Partners ownership in Operating Partnership				5,587	(5,587)
Equity compensation associated with Units - Limited Partners					5,361
Net income available to Units - Limited Partners		7,633			7,633
Units - Limited Partners distributions					(7,593)
Change in carrying value of Redeemable Limited Partners					371
Unrealized holding gains (losses) arising during the period	(1,259)	(1,259)				(1,259)
Losses reclassified into earnings from other comprehensive income	(2,456)	(2,456)				2,456
Distributions declared per Unit outstanding							0.625
Net income attributable to Noncontrolling Interests	232,678	232,678						944
Contributions by Noncontrolling Interests								157
Distributions to Noncontrolling Interests								(1,427)
Acquisitions of Noncontrolling Interests - Partially Owned Properties								(4,823)
Balance, end of period at Jun. 30, 2022			37,280	10,883,459	216,326	(30,650)
Balance, end of period at Jun. 30, 2022								(1,734)
Balance, beginning of year at Dec. 31, 2022			37,280	11,138,706	209,961	(2,547)
Balance, beginning of year at Dec. 31, 2022								(721)
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				4,659	(4,659)
Exercise of EQR share options				11,358
EQR's Employee Share Purchase Plan (ESPP)				2,124
EQR restricted shares				7,945	1
EQR share options				3,125
EQR ESPP discount				398
Net income available to Units - General Partner		349,693		349,693
OP Units General Partner distributions				(502,070)
Supplemental Executive Retirement Plan (SERP)				148
Acquisition of Noncontrolling Interests – Partially Owned Properties				(900)
Change in market value of Redeemable Limited Partners				(39,123)
Adjustment for Limited Partners ownership in Operating Partnership				6,815	(6,815)
Equity compensation associated with Units - Limited Partners					10,867
Net income available to Units - Limited Partners		11,613			11,613
Units - Limited Partners distributions					(15,640)
Change in carrying value of Redeemable Limited Partners					2,077
Unrealized holding gains (losses) arising during the period	4,054	4,054				4,054
Losses reclassified into earnings from other comprehensive income	(2,201)	(2,201)				2,201
Distributions declared per Unit outstanding							1.325
Net income attributable to Noncontrolling Interests	364,933	364,933						2,082
Contributions by Noncontrolling Interests								9
Distributions to Noncontrolling Interests								(3,261)
Acquisitions of Noncontrolling Interests - Partially Owned Properties								(2,837)
Balance, end of period at Jun. 30, 2023			37,280	10,982,878	207,405	3,708
Balance, end of period at Jun. 30, 2023								(4,728)
Balance, beginning of year at Mar. 31, 2023			37,280	11,111,240	211,718	(11,232)
Balance, beginning of year at Mar. 31, 2023								(2,553)
Conversion of OP Units held by Limited Partners into OP Units held by General Partner				986	(986)
Exercise of EQR share options				3,246
EQR's Employee Share Purchase Plan (ESPP)				672
EQR restricted shares				4,291	1
EQR share options				1,628
EQR ESPP discount				138
Net income available to Units - General Partner		138,430		138,430
OP Units General Partner distributions				(251,101)
Supplemental Executive Retirement Plan (SERP)				(343)
Acquisition of Noncontrolling Interests – Partially Owned Properties				(900)
Change in market value of Redeemable Limited Partners				(33,177)
Adjustment for Limited Partners ownership in Operating Partnership				7,768	(7,768)
Equity compensation associated with Units - Limited Partners					6,213
Net income available to Units - Limited Partners		4,554			4,554
Units - Limited Partners distributions					(7,736)
Change in carrying value of Redeemable Limited Partners					1,409
Unrealized holding gains (losses) arising during the period	13,834	13,834				13,834
Losses reclassified into earnings from other comprehensive income	(1,106)	(1,106)				1,106
Distributions declared per Unit outstanding							$ 0.6625
Net income attributable to Noncontrolling Interests	$ 144,862	$ 144,862						1,105
Contributions by Noncontrolling Interests								9
Distributions to Noncontrolling Interests								(452)
Acquisitions of Noncontrolling Interests - Partially Owned Properties								(2,837)
Balance, end of period at Jun. 30, 2023			$ 37,280	$ 10,982,878	$ 207,405	$ 3,708
Balance, end of period at Jun. 30, 2023								$ (4,728)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss)	$ 139,203	$ 224,101	$ 351,238	$ 294,866

Insider Trading Arrangements

Insider Trading Arrangements	6 Months Ended
	Jun. 30, 2023 shares
Trading Arrangements, by Individual
Material Terms of Trading Arrangement	On June 15, 2023 , Alexander Brackenridge , Executive Vice President and Chief Investment Officer of EQR , adopted a Rule 10b5-1 trading arrangement that is intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act for the sale of up to 20,133 Common Shares and the exercise (and subsequent sale of underlying Common Shares) of up to 15,516 options through and including September 14, 2024.
Name	Alexander Brackenridge
Title	Executive Vice President and Chief Investment Officer of EQR
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 15, 2023
Aggregate Available	20,133
10b5-1 Trading Arrangement Subsequent Sale [Member]
Trading Arrangements, by Individual
Aggregate Available	15,516

Business

Business	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business	1. Business Equity Residential (“EQR”) is an S&P 500 company focused on the acquisition, development and management of residential properties located in and around dynamic cities that attract affluent long-term renters, a business that is conducted on its behalf by ERP Operating Limited Partnership (“ERPOP”). EQR is a Maryland real estate investment trust (“REIT”) formed in March 1993 and ERPOP is an Illinois limited partnership formed in May 1993. References to the “Company,” “we,” “us” or “our” mean collectively EQR, ERPOP and those entities/subsidiaries owned or controlled by EQR and/or ERPOP. References to the “Operating Partnership” mean collectively ERPOP and those entities/subsidiaries owned or controlled by ERPOP. Unless otherwise indicated, the notes to consolidated financial statements apply to both the Company and the Operating Partnership. EQR is the general partner of, and as of June 30, 2023 owned an approximate 96.8 % ownership interest in, ERPOP. All of the Company’s property ownership, development and related business operations are conducted through the Operating Partnership and EQR has no material assets or liabilities other than its investment in ERPOP. EQR issues equity from time to time, the net proceeds of which it is obligated to contribute to ERPOP, but does not have any indebtedness as all debt is incurred by the Operating Partnership. The Operating Partnership holds substantially all of the assets of the Company, including the Company’s ownership interests in its joint ventures. The Operating Partnership conducts the operations of the business and is structured as a partnership with no publicly traded equity. As of June 30, 2023, the Company, directly or indirectly through investments in title holding entities, owned all or a portion of 304 properties located in 10 states and the District of Columbia consisting of 80,212 apartment units. The ownership breakdown includes (table does not include any uncompleted development properties): Properties Apartment Units Wholly Owned Properties 289 76,986 Partially Owned Properties – Consolidated 15 3,226 304 80,212

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Summary Of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and certain reclassifications considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. In preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The balance sheets at December 31, 2022 have been derived from the audited financial statements at that date but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, including definitions of capitalized terms not defined herein, refer to the consolidated financial statements and footnotes thereto included in the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2022 . Income and Other Taxes EQR has elected to be taxed as a REIT. This, along with the nature of the operations of its operating properties, resulted in no provision for federal income taxes at the EQR level. In addition, ERPOP generally is not liable for federal income taxes as the partners recognize their allocable share of income or loss in their tax returns; therefore no provision for federal income taxes has been made at the ERPOP level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected taxable REIT subsidiary (“TRS”) status for certain of its corporate subsidiaries and, as a result, these entities will incur both federal and state income taxes on any taxable income of such entities after consideration of any net operating losses. Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued an amendment to the debt and equity financial instruments standards which simplifies the accounting for convertible instruments and accounting for contracts in an entity’s own equity. The Company adopted the standard when effective on January 1, 2022 and it had no impact on its consolidated results of operations and financial position. In March 2020, the FASB issued an amendment to the reference rate reform standard which provides the option for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on contract modifications and hedge accounting. The new standard was effective for the Company upon issuance and elections could be made through December 31, 2024. The Company elected to apply the hedge accounting expedients and application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Equity, Capital and Other Inter

Equity, Capital and Other Interests	6 Months Ended
	Jun. 30, 2023
Equity Capital And Other Interests [Abstract]
Equity, Capital and Other Interests	3. Equity, Capital and Other Interests The Company refers to “Common Shares” and “Units” (which refer to both OP Units and restricted units) as equity securities for EQR and “General Partner Units” and “Limited Partner Units” as equity securities for ERPOP. To provide a streamlined and more readable presentation of the disclosures for the Company and the Operating Partnership, several sections below refer to the respective terminology for each with the same financial information and separate sections are provided, where needed, to further distinguish any differences in financial information and terminology. The following table presents the changes in the Company’s issued and outstanding Common Shares and Units for the six months ended June 30, 2023 and 2022: 2023 2022 Common Shares Common Shares outstanding at January 1, 378,429,708 375,527,195 Common Shares Issued: Conversion of OP Units 180,629 31,089 Exercise of share options 232,317 348,510 Employee Share Purchase Plan (ESPP) 40,346 35,669 Restricted share grants, net 149,722 175,970 Common Shares outstanding at June 30, 379,032,722 376,118,433 Units Units outstanding at January 1, 12,429,737 12,659,027 Restricted unit grants, net 166,344 223,242 Conversion of OP Units to Common Shares ( 180,629 ) ( 31,089 ) Units outstanding at June 30, 12,415,452 12,851,180 Total Common Shares and Units outstanding at June 30, 391,448,174 388,969,613 Units Ownership Interest in Operating Partnership 3.2 % 3.3 % The following table presents the changes in the Operating Partnership’s issued and outstanding General Partner Units and Limited Partner Units for the six months ended June 30, 2023 and 2022: 2023 2022 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 390,859,445 388,186,222 Issued to General Partner: Exercise of EQR share options 232,317 348,510 EQR’s Employee Share Purchase Plan (ESPP) 40,346 35,669 EQR’s restricted share grants, net 149,722 175,970 Issued to Limited Partners: Restricted unit grants, net 166,344 223,242 General and Limited Partner Units outstanding at June 30, 391,448,174 388,969,613 Limited Partner Units Limited Partner Units outstanding at January 1, 12,429,737 12,659,027 Limited Partner restricted unit grants, net 166,344 223,242 Conversion of Limited Partner OP Units to EQR Common Shares ( 180,629 ) ( 31,089 ) Limited Partner Units outstanding at June 30, 12,415,452 12,851,180 Limited Partner Units Ownership Interest in Operating Partnership 3.2 % 3.3 % The equity positions of various individuals and entities that contributed their properties to the Operating Partnership in exchange for OP Units, as well as the equity positions of the holders of restricted units, are collectively referred to as the “Noncontrolling Interests – Operating Partnership” and “Limited Partners Capital,” respectively, for the Company and the Operating Partnership. Subject to certain exceptions (including the “book-up” requirements of restricted units), the Noncontrolling Interests – Operating Partnership/Limited Partners Capital may exchange their Units with EQR for Common Shares on a one-for-one basis. The carrying value of the Noncontrolling Interests – Operating Partnership/Limited Partners Capital (including redeemable interests) is allocated based on the number of Noncontrolling Interests – Operating Partnership/Limited Partners Capital in total in proportion to the number of Noncontrolling Interests – Operating Partnership/Limited Partners Capital in total plus the total number of Common Shares/General Partner Units. Net income is allocated to the Noncontrolling Interests – Operating Partnership/Limited Partners Capital based on the weighted average ownership percentage during the period. The Operating Partnership has the right but not the obligation to make a cash payment instead of issuing Common Shares to any and all holders of Noncontrolling Interests – Operating Partnership/Limited Partners Capital requesting an exchange of their Noncontrolling Interests – Operating Partnership/Limited Partners Capital with EQR. Once the Operating Partnership elects not to redeem the Noncontrolling Interests – Operating Partnership/Limited Partners Capital for cash, EQR is obligated to deliver Common Shares to the exchanging holder of the Noncontrolling Interests – Operating Partnership/Limited Partners Capital. The Noncontrolling Interests – Operating Partnership/Limited Partners Capital are classified as either mezzanine equity or permanent equity. If EQR is required, either by contract or securities law, to deliver registered Common Shares, such Noncontrolling Interests – Operating Partnership/Limited Partners Capital are differentiated and referred to as “Redeemable Noncontrolling Interests – Operating Partnership” and “Redeemable Limited Partners,” respectively. Instruments that require settlement in registered shares cannot be classified in permanent equity as it is not always completely within an issuer’s control to deliver registered shares. Therefore, settlement in cash is assumed and that responsibility for settlement in cash is deemed to fall to the Operating Partnership as the primary source of cash for EQR, resulting in presentation in the mezzanine section of the balance sheet. The Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners are adjusted to the greater of carrying value or fair market value based on the Common Share price of EQR at the end of each respective reporting period. EQR has the ability to deliver unregistered Common Shares for the remaining portion of the Noncontrolling Interests – Operating Partnership/Limited Partners Capital that are classified in permanent equity at June 30, 2023 and December 31, 2022. The carrying value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners is allocated based on the number of Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners in proportion to the number of Noncontrolling Interests – Operating Partnership/Limited Partners Capital in total. Such percentage of the total carrying value of Units/Limited Partner Units which is ascribed to the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners is then adjusted to the greater of carrying value or fair market value as described above. As of June 30, 2023 and 2022, the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners have a redemption value of approximately $ 355.3 million and $ 398.2 million, respectively, which represents the value of Common Shares that would be issued in exchange for the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners. The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners for the six months ended June 30, 2023 and 2022, respectively (amounts in thousands): 2023 2022 Balance at January 1, $ 318,273 $ 498,977 Change in market value 39,123 ( 98,140 ) Change in carrying value ( 2,077 ) ( 2,649 ) Balance at June 30, $ 355,319 $ 398,188 Net proceeds from EQR Common Share and Preferred Share (see definition below) offerings and proceeds from exercise of options for Common Shares are contributed by EQR to ERPOP. In return for those contributions, EQR receives a number of OP Units in ERPOP equal to the number of Common Shares it has issued in the equity offering (or in the case of a preferred equity offering, a number of preference units in ERPOP equal in number and having the same terms as the Preferred Shares issued in the equity offering). As a result, the net proceeds from Common Shares and Preferred Shares are allocated for the Company between shareholders’ equity and Noncontrolling Interests – Operating Partnership and for the Operating Partnership between General Partner’s Capital and Limited Partners Capital to account for the change in their respective percentage ownership of the underlying equity. The Company’s declaration of trust authorizes it to issue up to 100,000,000 preferred shares of beneficial interest, $ 0.01 par value per share (the “Preferred Shares”), with specific rights, preferences and other attributes as the Board of Trustees may determine, which may include preferences, powers and rights that are senior to the rights of holders of the Company’s Common Shares. The following table presents the Company’s issued and outstanding Preferred Shares/Preference Units as of June 30, 2023 and December 31, 2022: Amounts in thousands Annual Call Dividend Per June 30, December 31, Date (1) Share/Unit (2) 2023 2022 Preferred Shares/Preference Units of beneficial interest, $ 0.01 par value; 100,000,000 shares authorized: 8.29 % Series K Cumulative Redeemable Preferred Shares/Preference 50 per share/unit; 745,600 shares/units issued 12/10/2026 $ 4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (1) On or after the call date, redeemable Preferred Shares/Preference Units may be redeemed for cash at the option of the Company or the Operating Partnership, respectively, in whole or in part, at a redemption price equal to the liquidation price per share/unit, plus accrued and unpaid distributions, if any. (2) Dividends on Preferred Shares/Preference Units are payable quarterly. Other EQR and ERPOP currently have an active universal shelf registration statement for the issuance of equity and debt securities that automatically became effective upon filing with the SEC in May 2022 and expires in May 2025. Per the terms of ERPOP’s partnership agreement, EQR contributes the net proceeds of all equity offerings to the capital of ERPOP in exchange for additional OP Units (on a one-for-one Common Share per OP Unit basis) or preference units (on a one-for-one preferred share per preference unit basis). The Company has an At-The-Market (“ATM”) share offering program which allows EQR to issue Common Shares from time to time into the existing trading market at current market prices or through negotiated transactions, including under forward sale arrangements. The current program matures in May 2025 and gives us the authority to issue up to 13.0 million shares, all of which remain available for issuance as of June 30, 2023. The Company may repurchase up to 13.0 million Common Shares under its share repurchase program. No open market repurchases have occurred since 2008. As of June 30, 2023 , EQR has remaining authorization to repurchase up to 13.0 million of its shares. ERPOP issued $ 0.9 million of 3.00 % Series Q Cumulative Redeemable Preference Units (the "Series Q Preference Units") in the second quarter of 2023 in connection with the buyout of the noncontrolling interest in a consolidated operating property (see Note 6 for additional discussion). The 933,454 Series Q Preference Units have a liquidation value of $ 1.00 per unit and pay distributions quarterly at the annual rate of $ 0.03 per unit. The Series Q Preference Units can be redeemed for, at EQR's/ERPOP's option, Common Shares, OP Units and/or cash upon the occurrence of specific events laid out in the agreement. If redeemed for Common Shares or OP Units, the number of shares/units issued is based on the Common Share price. The Series Q Preference Units increased the balance of Noncontrolling Interests - Partially Owned Properties in the consolidated balance sheets.

Real Estate

Real Estate	6 Months Ended
	Jun. 30, 2023
Real Estate [Abstract]
Real Estate	4. Real Estate The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Land $ 5,579,211 $ 5,580,878 Depreciable property: Buildings and improvements 19,702,354 19,471,503 Furniture, fixtures and equipment 2,479,945 2,352,050 In-Place lease intangibles 515,298 510,816 Projects under development: Land 3,200 3,201 Construction-in-progress 47,716 109,739 Land held for development: Land 46,160 46,160 Construction-in-progress 15,174 14,407 Investment in real estate 28,389,058 28,088,754 Accumulated depreciation ( 9,428,549 ) ( 9,027,850 ) Investment in real estate, net $ 18,960,509 $ 19,060,904 During th e six months ended June 30, 2023, the Company acquired the following from unaffiliated parties (purchase price in thousands): Properties Apartment Units Purchase Price Rental Properties – Consolidated (1) 2 549 $ 186,600 Total 2 549 $ 186,600 (1) Purchase price includes an allocation of approximately $ 19.3 million to land and $ 167.4 million to depreciable property (inclusive of capitalized closing costs). During the six months ended June 30, 2023, the Company disposed of the following to unaffiliated parties (sales price and net gain in thousands): Properties Apartment Units Sales Price Net Gain Rental Properties – Consolidated 7 247 $ 135,300 $ 100,122 Total 7 247 $ 135,300 $ 100,122

Commitments to Acquire_Dispose

Commitments to Acquire/Dispose of Real Estate	6 Months Ended
	Jun. 30, 2023
Commitments To Acquire Dispose Of Real Estate [Abstract]
Commitments to Acquire/Dispose of Real Estate	5. Commitments to Acquire/Dispose of Real Estate The Company has entered into an agreement to acquire the following (purchase price in thousands): Properties Apartment Units Purchase Price Rental Properties – Consolidated 1 290 $ 93,000 Total 1 290 $ 93,000 The Company has entered into an agreement to dispose of the following (sales price and net book value in thousands): Properties Apartment Units Sales Price Net Book Value at Rental Properties - Consolidated 1 166 $ 60,100 $ 31,305 Total 1 166 $ 60,100 $ 31,305 The closing of pending transactions is subject to certain conditions and restrictions; therefore there can be no assurance that the transactions will be consummated or that the final terms will not differ in material respects from any agreements summarized above. See Note 14 for discussion of the properties acquired or disposed of, if any, subsequent to June 30, 2023 .

Investments in Partially Owned

Investments in Partially Owned Entities	6 Months Ended
	Jun. 30, 2023
Investments In Partially Owned Entities [Abstract]
Investments in Partially Owned Entities	6. Investments in Partially Owned Entities The Company has invested in various entities with unrelated third parties which are either consolidated or accounted for under the equity method of accounting (unconsolidated). Consolidated Variable Interest Entities (“VIEs”) In accordance with accounting standards for consolidation of VIEs, the Company consolidates ERPOP on EQR’s financial statements. As the sole general partner of ERPOP, EQR has exclusive control of ERPOP’s day-to-day management. The limited partners are not able to exercise substantive kick-out or participating rights. As a result, ERPOP qualifies as a VIE. EQR has a controlling financial interest in ERPOP and, thus, is ERPOP’s primary beneficiary. EQR has the power to direct the activities of ERPOP that most significantly impact ERPOP’s economic performance as well as the obligation to absorb losses or the right to receive benefits from ERPOP that could potentially be significant to ERPOP. The Company has various equity interests in certain joint ventures that have been deemed to be VIEs, and the Company is the VIEs’ primary beneficiary. As a result, the joint ventures are required to be consolidated on the Company’s financial statements. The following table summarizes the Company’s consolidated joint ventures as of June 30, 2023: Operating Properties (1), (2) Properties Apartment Units Consolidated Joint Ventures (VIE) 15 3,226 (1) During the second quarter of 2023, the Company acquired its joint venture partner's 10 % interest in a 200 -unit apartment property for $ 4.6 million, of which the Company paid $ 3.7 million in cash and ERPOP issued $ 0.9 million of 3.00 % Series Q Preference Units (see Note 3 for additional discussion). The property is now wholly owned. In connection with the buyout, the carrying amount of the Noncontrolling Interests – Partially Owned Properties totaling $ 3.7 million was reduced to zero and the remaining $ 0.9 million was recorded to paid in capital/general partner capital. The Company also repaid $ 64.7 million of mortgage debt at par prior to maturity in conjunction with the buyout. (2) The land parcel under one of the projects is subject to a long-term ground lease. The following table provides consolidated assets and liabilities related to the Company's VIEs as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Consolidated Assets $ 579,832 $ 691,880 Consolidated Liabilities $ 107,228 $ 158,932 Certain consolidated joint ventures in which we have investments obtained mortgage debt to finance a portion of their activities. The following table and information summarizes the variable rate construction mortgage debt that is non-recourse to the Company at June 30, 2023 (aggregate and amounts borrowed under loan commitments in thousands): Recently Completed Operating Property Number of joint ventures with debt financing 1 Aggregate loan commitments $ 73,344 Amounts borrowed under loan commitments (1) $ 67,876 Maturity dates 2025 (1) See Note 9 for the proceeds of secured conventional floating rate debt under Mortgage Notes Payable and Note 14 for discussion of the loan repayment subsequent to June 30, 2023 . Investments in Unconsolidated Entities The Company has various equity interests in certain joint ventures that are unconsolidated and accounted for using the equity method of accounting. Most of these have been deemed to be VIEs and the Company is not the VIEs' primary beneficiary. The remaining have been deemed not to be VIEs and the Company does not have a controlling voting interest. The following table and information summarizes the Company’s investments in unconsolidated entities as of June 30, 2023 and December 31, 2022 (amounts in thousands except for ownership percentage): June 30, 2023 December 31, 2022 Ownership Percentage Investments in Unconsolidated Entities: Various Real Estate Holdings (VIE) $ 36,873 $ 35,974 Varies Projects Under Development and Land Held for Development (VIE) 242,391 218,043 62 % - 95 % (1) Real Estate Technology Funds/Companies (VIE) 25,695 25,249 Varies Other ( 249 ) ( 242 ) Varies Investments in Unconsolidated Entities $ 304,710 $ 279,024 (1) In certain instances, the joint venture agreements contain provisions for promoted interests in favor of our joint venture partner. If the terms of the promoted interest are attained, then our share of the proceeds from a sale or other capital event of the unconsolidated entity may be less than the indicated ownership percentage. The following table summarizes the Company’s unconsolidated joint ventures that were deemed to be VIEs as of June 30, 2023: Real Estate Holdings (1) Projects Under Development (2), (5) Projects Held for Development (2), (3) Entities Projects Apartment Units (4) Projects Apartment Units (4) Unconsolidated Joint Ventures (VIE) 2 6 1,982 4 1,334 (1) Represents entities that hold various real estate investments. (2) Represents separate unconsolidated joint ventures for the purpose of developing multifamily rental properties. (3) Represents separate unconsolidated joint ventures that have not yet started. (4) Represents the intended number of apartment units to be developed. (5) The land parcel under one of the projects is subject to a long-term ground lease. New Development Joint Ventures The following table provides information on total unconsolidated development joint ventures entered into during the six months ended June 30, 2023 (amounts in thousands except for number of unconsolidated joint ventures and apartment units): Number of unconsolidated joint ventures (1) 1 Apartment units (2) 368 Investments in unconsolidated entities – acquisitions $ 989 (1) The entities qualify as VIEs, but the Company is not the primary beneficiary because it does not have the power to direct the activities that most significantly impact the VIE’s performance. Therefore, the entities are unconsolidated and recorded using the equity method of accounting. See Note 2 of the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional discussion. (2) Represents the intended number of apartment units to be developed.

Restricted Deposits

Restricted Deposits	6 Months Ended
	Jun. 30, 2023
Deposits Restricted [Abstract]
Restricted Deposits	7. Restricted Deposits The following table presents the Company’s restricted deposits as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Mortgage escrow deposits: Replacement reserves $ 13,440 $ 12,549 Mortgage principal reserves/sinking funds 28,802 25,304 Mortgage escrow deposits 42,242 37,853 Restricted cash: Earnest money on pending acquisitions 4,000 4,500 Restricted deposits on real estate investments 225 229 Resident security and utility deposits 39,504 38,432 Other 2,970 2,289 Restricted cash 46,699 45,450 Restricted deposits $ 88,941 $ 83,303

Leases

Leases	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Leases	8. Leases Lessor Accounting The Company is the lessor for its residential and non-residential leases and these leases are accounted for as operating leases under the lease standard. The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the six months ended June 30, 2023 and 2022 (amounts in thousands): Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Income Type Residential Non-Residential Total Residential Non-Residential Total Residential and non-residential rent $ 1,276,338 $ 31,973 $ 1,308,311 $ 1,194,087 $ 32,095 $ 1,226,182 Utility recoveries (RUBS income) (1) 42,786 419 43,205 39,583 369 39,952 Parking rent 21,893 225 22,118 21,706 202 21,908 Other lease revenue (2) ( 13,420 ) 734 ( 12,686 ) ( 889 ) ( 197 ) ( 1,086 ) Total lease revenue $ 1,327,597 $ 33,351 1,360,948 $ 1,254,487 $ 32,469 1,286,956 Parking revenue 20,395 18,431 Other revenue 41,054 34,991 Total other rental income (3) 61,449 53,422 Rental income $ 1,422,397 $ 1,340,378 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard. The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended June 30, 2023 and 2022 (amounts in thousands): Quarter Ended June 30, 2023 Quarter Ended June 30, 2022 Income Type Residential Non-Residential Total Residential Non-Residential Total Residential and non-residential rent $ 641,586 $ 15,987 $ 657,573 $ 606,307 $ 16,221 $ 622,528 Utility recoveries (RUBS income) (1) 21,403 212 21,615 19,985 188 20,173 Parking rent 11,011 116 11,127 10,923 104 11,027 Other lease revenue (2) ( 5,831 ) 65 ( 5,766 ) 5,412 ( 154 ) 5,258 Total lease revenue $ 668,169 $ 16,380 684,549 $ 642,627 $ 16,359 658,986 Parking revenue 10,192 9,623 Other revenue 22,568 18,421 Total other rental income (3) 32,760 28,044 Rental income $ 717,309 $ 687,030 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard. The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of June 30, 2023 and December 31, 2022 (amounts in thousands): Residential Non-Residential Balance Sheet (Other assets): June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Resident/tenant accounts receivable balances $ 27,098 $ 35,688 $ 2,382 $ 2,820 Allowance for doubtful accounts ( 22,609 ) ( 31,405 ) ( 1,383 ) ( 2,152 ) Net receivable balances $ 4,489 $ 4,283 $ 999 $ 668 Straight-line receivable balances $ 7,072 $ 4,398 $ 13,562 $ 13,795 The following table presents residential bad debt for the Company’s properties for the six months and quarters ended June 30, 2023 and 2022 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, Income Statement (Rental income): 2023 2022 2023 2022 Bad debt, net (1) $ 19,820 $ 8,147 $ 9,065 $ ( 1,748 ) % of rental income 1.4 % 0.6 % 1.3 % ( 0.3 %) (1) Bad debt, net benefited from additional resident payments due to governmental rental assistance programs of approximately $ 1.8 million and $ 25.1 million for the six months ended June 30, 2023 and 2022 , respectively, and $ 0.7 million and $ 15.0 million for the quarters ended June 30, 2023 and 2022 , respectively.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	9. Debt EQR does not have any indebtedness as all debt is incurred by the Operating Partnership. Weighted average interest rates noted below for the six months ended June 30, 2023 include the effect of any derivative instruments and amortization of premiums/discounts/OCI (other comprehensive income) on debt and derivatives. Mortgage Notes Payable The following table summarizes the Company’s mortgage notes payable activity for the six months ended June 30, 2023 (amounts in thousands): Mortgage notes Proceeds Lump sum Scheduled Amortization Amortization Mortgage notes Fixed Rate Debt: Secured – Conventional $ 1,608,838 $ — $ — $ — $ — $ 460 $ 1,609,298 Floating Rate Debt: Secured – Conventional 108,378 22,896 (2) ( 64,722 ) ( 54 ) — 365 66,863 Secured – Tax Exempt 236,222 — — — 616 70 236,908 Floating Rate Debt 344,600 22,896 ( 64,722 ) ( 54 ) 616 435 303,771 Total $ 1,953,438 $ 22,896 $ ( 64,722 ) $ ( 54 ) $ 616 $ 895 $ 1,913,069 (1) Represents amortization of deferred financing costs, net of debt financing costs. (2) See Note 6 for additional discussion of the variable rate construction mortgage debt. The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2023: June 30, 2023 Interest Rate Ranges 0.10 % - 7.91 % Weighted Average Interest Rate 3.63 % Maturity Date Ranges 2023 - 2061 As of June 30, 2023, the Company had $ 250.0 million of secured tax-exempt bonds subject to third-party credit enhancement. Notes The following table summarizes the Company’s notes activity for the six months ended June 30, 2023 (amounts in thousands): Notes, net as of Proceeds Lump sum Amortization Amortization Notes, net as of Fixed Rate Debt: Unsecured – Public $ 5,342,329 $ — $ — $ 1,124 $ 1,920 $ 5,345,373 (1) Represents amortization of deferred financing costs, net of debt financing costs. The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2023: June 30, 2023 Interest Rate Ranges 1.85 % - 7.57 % Weighted Average Interest Rate 3.54 % Maturity Date Ranges 2025 - 2047 The Company’s unsecured public notes contain certain financial and operating covenants including, among other things, maintenance of certain financial ratios. The Company was in compliance with its unsecured public debt covenants for the six months ended June 30, 2023. Line of Credit and Commercial Paper The Company has a $ 2.5 billion unsecured revolving credit facility maturing on October 26, 2027 . The Company has the ability to increase available borrowings by an additional $ 750.0 million by adding lenders to the facility, obtaining the agreement of existing lenders to increase their commitments or incurring one or more term loans. The interest rate on advances under the facility will generally be the Secured Overnight Financing Rate ("SOFR") plus a spread (currently 0.725 %), or based on bids received from the lending group, and the Company pays an annual facility fee (currently 0.125 %). Both the spread and the facility fee are dependent on the Company’s senior unsecured credit rating. The Company did no t borrow any amounts under its revolving credit facility during the six months ended June 30, 2023. The Company has an unsecured commercial paper note program under which it may borrow up to a maximum of $ 1.0 billion subject to market conditions. The notes will be sold under customary terms in the United States commercial paper note market and will rank pari passu with all of the Company’s other unsecured senior indebtedness. The following table summarizes certain weighted average interest rate, maturity and amount outstanding information for the commercial paper program as of and for the six months ended June 30, 2023: June 30, 2023 Weighted Average Interest Rate (1) 5.12 % Weighted Average Maturity (in days) 26 Weighted Average Amount Outstanding $ 164.5 million (1) The notes bear interest at various floating rates. The Company limits its utilization of the revolving credit facility in order to maintain liquidity to support its $ 1.0 billion commercial paper program along with certain other obligations. The following table presents the availability on the Company’s unsecured revolving credit facility as of June 30, 2023 (amounts in thousands): June 30, 2023 Unsecured revolving credit facility commitment $ 2,500,000 Commercial paper balance outstanding ( 185,187 ) Unsecured revolving credit facility balance outstanding — Other restricted amounts ( 3,484 ) Unsecured revolving credit facility availability $ 2,311,329 Other The following table summarizes the Company's total debt extinguishment costs recorded as additional expense for the six months and quarters ended June 30, 2023 and 2022 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Write-offs of unamortized deferred financing costs $ 47 $ 92 $ 47 $ 92 Write-offs of unamortized (premiums)/discounts/OCI — 377 — 377 Total $ 47 $ 469 $ 47 $ 469

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements The valuation of financial instruments requires the Company to make estimates and judgments that affect the fair value of the instruments. The Company, where possible, bases the fair values of its financial instruments on listed market prices and third-party quotes. Where these are not available, the Company bases its estimates on current instruments with similar terms and maturities or on other factors relevant to the financial instruments. In the normal course of business, the Company is exposed to the effect of interest rate changes. The Company may seek to manage these risks by following established risk management policies and procedures including the use of derivatives to hedge interest rate risk on debt instruments. The Company may also use derivatives to manage commodity prices in the daily operations of the business. A three-level valuation hierarchy exists for disclosure of fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. A financial instrument’s categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 – Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 – Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. • Level 3 – Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The Company’s derivative positions are valued using models developed by the respective counterparty as well as models applied internally by the Company that use as their inputs readily observable market parameters (such as forward yield curves and credit default swap data). The following table summarizes the inputs to the valuations for each type of fair value measurement: Fair Value Measurement Type Valuation Inputs Employee holdings (other than Common Shares) within the supplemental executive retirement plan (the “SERP”) Quoted market prices for identical assets. These holdings are included in other assets and other liabilities on the consolidated balance sheets. Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Quoted market price of Common Shares. Mortgage notes payable and private unsecured debt (including its commercial paper and line of credit, if applicable) Indicative rates provided by lenders of similar loans. Public unsecured notes Quoted market prices for each underlying issuance. The fair values of the Company’s financial instruments (other than mortgage notes payable, unsecured notes, commercial paper, line of credit and derivative instruments), including cash and cash equivalents and other financial instruments, approximate their carrying or contract value. The following table provides a summary of the carrying and fair values for the Company’s mortgage notes payable and unsecured debt (including its commercial paper and line of credit, if applicable) at June 30, 2023 and December 31, 2022, respectively (amounts in thousands): June 30, 2023 December 31, 2022 Carrying Value Estimated Fair Carrying Value Estimated Fair Mortgage notes payable, net $ 1,913,069 $ 1,773,555 $ 1,953,438 $ 1,803,525 Unsecured debt, net 5,529,847 4,975,013 5,472,284 4,874,490 Total debt, net $ 7,442,916 $ 6,748,568 $ 7,425,722 $ 6,678,015 The following table summarizes the Company’s consolidated derivative instruments at June 30, 2023 (dollar amounts are in thousands): Forward Starting Current Notional Balance $ 450,000 Lowest Interest Rate 2.4470 % Highest Interest Rate 3.6995 % Maturity Date 2033 (1) Forward Starting Swaps – Designed to partially fix interest rates in advance of planned future debt issuances. These swaps have mandatory counterparty terminations i n 2024 and are targeted for certain 2023 debt issuances. All of these forward starting swaps settled subsequent to June 30, 2023. See Note 14 for additional discussion. The following tables provide a summary of the fair value measurements for each major category of assets and liabilities measured at fair value on a recurring basis and the location within the accompanying consolidated balance sheets at June 30, 2023 and December 31, 2022, respectively (amounts in thousands): Fair Value Measurements at Reporting Date Using Description Balance Sheet 6/30/2023 Quoted Prices in Significant Other Significant Assets Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Assets $ 25,224 $ — $ 25,224 $ — Supplemental Executive Retirement Plan Other Assets 130,135 130,135 — — Total $ 155,359 $ 130,135 $ 25,224 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 515 $ — $ 515 $ — Supplemental Executive Retirement Plan Other Liabilities 130,135 130,135 — — Total $ 130,650 $ 130,135 $ 515 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 355,319 $ — $ 355,319 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet 12/31/2022 Quoted Prices in Significant Other Significant Assets Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Assets $ 21,864 $ — $ 21,864 $ — Supplemental Executive Retirement Plan Other Assets 133,245 133,245 — — Total $ 155,109 $ 133,245 $ 21,864 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 1,210 $ — $ 1,210 $ — Supplemental Executive Retirement Plan Other Liabilities 133,245 133,245 — — Total $ 134,455 $ 133,245 $ 1,210 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 318,273 $ — $ 318,273 $ — The following tables provide a summary of the effect of cash flow hedges on the Company’s accompanying consolidated statements of operations and comprehensive income for the six months ended June 30, 2023 and 2022, respectively (amounts in thousands): June 30, 2023 Amount of Location of Amount of Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ 4,054 Interest expense $ ( 2,201 ) Total $ 4,054 $ ( 2,201 ) June 30, 2022 Amount of Location of Amount of Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ ( 1,259 ) Interest expense $ ( 4,881 ) Total $ ( 1,259 ) $ ( 4,881 ) As of June 30, 2023 and December 31, 2022 , there were approximately $ 3.7 million in deferred gains, net, and $ 2.5 million in deferred losses, net, included in accumulated other comprehensive income (loss), respectively, related to previously settled and unsettled derivative instruments, of which an estimated $ 2.4 million may be recognized as additional interest expense during the twelve months ending June 30, 2024.

Earnings Per Share and Earnings

Earnings Per Share and Earnings Per Unit	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share And Earnings Per Unit	11. Earnings Per Share and Earnings Per Unit Equity Residential The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Numerator for net income per share – basic: Net income $ 364,933 $ 306,476 $ 144,862 $ 232,678 Allocation to Noncontrolling Interests – Operating Partnership ( 11,613 ) ( 10,027 ) ( 4,554 ) ( 7,633 ) Net (income) loss attributable to Noncontrolling ( 2,082 ) ( 1,583 ) ( 1,105 ) ( 944 ) Preferred distributions ( 1,545 ) ( 1,545 ) ( 773 ) ( 773 ) Numerator for net income per share – basic $ 349,693 $ 293,321 $ 138,430 $ 223,328 Numerator for net income per share – diluted: Net income $ 364,933 $ 306,476 $ 144,862 $ 232,678 Net (income) loss attributable to Noncontrolling ( 2,082 ) ( 1,583 ) ( 1,105 ) ( 944 ) Preferred distributions ( 1,545 ) ( 1,545 ) ( 773 ) ( 773 ) Numerator for net income per share – diluted $ 361,306 $ 303,348 $ 142,984 $ 230,961 Denominator for net income per share – basic and diluted: Denominator for net income per share – basic 378,492 375,640 378,642 375,769 Effect of dilutive securities: OP Units 11,450 11,891 11,390 11,895 Long-term compensation shares/units 1,121 1,863 1,155 1,698 ATM forward sales — 69 — 1 Denominator for net income per share – diluted 391,063 389,463 391,187 389,363 Net income per share – basic $ 0.92 $ 0.78 $ 0.37 $ 0.59 Net income per share – diluted $ 0.92 $ 0.78 $ 0.37 $ 0.59 ERP Operating Limited Partnership The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Numerator for net income per Unit – basic and diluted: Net income $ 364,933 $ 306,476 $ 144,862 $ 232,678 Net (income) loss attributable to Noncontrolling ( 2,082 ) ( 1,583 ) ( 1,105 ) ( 944 ) Allocation to Preference Units ( 1,545 ) ( 1,545 ) ( 773 ) ( 773 ) Numerator for net income per Unit – basic and diluted $ 361,306 $ 303,348 $ 142,984 $ 230,961 Denominator for net income per Unit – basic and diluted: Denominator for net income per Unit – basic 389,942 387,531 390,032 387,664 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting 1,121 1,863 1,155 1,698 ATM forward sales — 69 — 1 Denominator for net income per Unit – diluted 391,063 389,463 391,187 389,363 Net income per Unit – basic $ 0.92 $ 0.78 $ 0.37 $ 0.59 Net income per Unit – diluted $ 0.92 $ 0.78 $ 0.37 $ 0.59

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	12. Commitments and Contingencies Commitments Real Estate Development Commitments As of June 30, 2023 , the Company has both consolidated and unconsolidated real estate projects under development. The following table summarizes the gross remaining total project costs for the Company’s projects under development at June 30, 2023 (total project costs remaining in thousands): Projects Apartment Units Total Project Costs Remaining (1) Projects Under Development Consolidated 1 225 $ 101,705 Unconsolidated 6 1,982 243,293 Total Projects Under Development 7 2,207 $ 344,998 (1) The Company’s share of the $ 345.0 million in total project costs remaining approximates $ 109.7 million, with the balance funded by the Company’s joint venture partners (approximately $ 2.7 million) and/or applicable construction loans (approximately $ 232.6 million). We have entered into, and may continue in the future to enter into, joint venture agreements with third-party partners for the development of multifamily rental properties. The joint venture agreements with each development partner include buy-sell provisions that provide the right, but not the obligation, for the Company to acquire each respective partner’s interests or sell its interests at any time following the occurrence of certain pre-defined events described in the joint venture agreements. See Note 6 for additional discussion. Other Commitments We have entered into, and may continue in the future to enter into, real estate technology and other real estate fund investments. As of June 30, 2023, t he Company has invested in nine separate such investments totaling $ 36.9 million with aggregate remaining commitments of approximately $ 16.1 million. Contingencies Litigation and Legal Matters The Company, as an owner of real estate, is subject to various federal, state and local laws. Compliance by the Company with existing laws has not had a material adverse effect on the Company. However, the Company cannot predict the impact of new or changed laws or regulations on its current properties or on properties that it may acquire in the future. The Company does not believe there is any litigation pending or threatened against it that, individually or in the aggregate, may reasonably be expected to have a material adverse effect on the Company.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Reportable Segments	13. Reportable Segments Operating segments are defined as components of an enterprise that engage in business activities from which they may earn revenues and incur expenses and about which discrete financial information is available that is evaluated regularly by the chief operating decision maker. The chief operating decision maker decides how resources are allocated and assesses performance on a recurring basis at least quarterly. The Company’s primary business is the acquisition, development and management of multifamily residential properties, which includes the generation of rental and other related income through the leasing of apartment units to residents. The chief operating decision maker evaluates the Company’s operating performance geographically by market and both on a same store and non-same store basis. While the Company does maintain a non-residential presence, it accounts for approximately 3.8 % of total revenues for the six months ended June 30, 2023 and is designed as an amenity for our residential residents. The chief operating decision maker evaluates the performance of each property on a consolidated residential and non-residential basis. The Company’s geographic consolidated same store operating segments represent its reportable segments. The Company’s development activities are other business activities that do not constitute an operating segment and as such, have been aggregated in the “Other” category in the tables presented below. All revenues are from external customers and there is no customer who contributed 10% or more of the Company’s total revenues during the six months and quarters ended June 30, 2023 and 2022, respectively. The primary financial measure for the Company’s rental real estate segment is net operating income (“NOI”), which represents rental income less: 1) property and maintenance expense and 2) real estate taxes and insurance expense (all as reflected in the accompanying consolidated statements of operations and comprehensive income). The Company believes that NOI is helpful to investors as a supplemental measure of its operating performance because it is a direct measure of the actual operating results of the Company’s apartment properties. Revenues for all leases are reflected on a straight-line basis in accordance with GAAP for the current and comparable periods. The following table presents a reconciliation of NOI from our rental real estate for the six months and quarters ended June 30, 2023 and 2022, respectively (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Rental income $ 1,422,397 $ 1,340,378 $ 717,309 $ 687,030 Property and maintenance expense ( 262,350 ) ( 241,229 ) ( 124,771 ) ( 116,355 ) Real estate taxes and insurance expense ( 209,749 ) ( 202,538 ) ( 103,080 ) ( 101,850 ) Total operating expenses ( 472,099 ) ( 443,767 ) ( 227,851 ) ( 218,205 ) Net operating income $ 950,298 $ 896,611 $ 489,458 $ 468,825 The following tables present NOI from our rental real estate for each segment for the six months and quarters ended June 30, 2023 and 2022, respectively, as well as total assets and capital expenditures at June 30, 2023 (amounts in thousands): Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 234,243 $ 73,597 $ 160,646 $ 227,809 $ 67,243 $ 160,566 Orange County 63,904 14,372 49,532 60,018 13,013 47,005 San Diego 45,452 10,348 35,104 42,410 9,605 32,805 Subtotal - Southern California 343,599 98,317 245,282 330,237 89,861 240,376 San Francisco 216,121 66,067 150,054 206,019 61,753 144,266 Washington, D.C. 217,282 71,075 146,207 203,973 68,523 135,450 New York 237,830 97,859 139,971 206,162 93,941 112,221 Seattle 149,291 41,726 107,565 140,114 40,195 99,919 Boston 143,127 43,383 99,744 131,779 41,074 90,705 Denver 35,469 10,500 24,969 33,065 9,331 23,734 Other Expansion Markets 32,359 15,324 17,035 30,598 13,008 17,590 Total same store 1,375,078 444,251 930,827 1,281,947 417,686 864,261 Non-same store/other Non-same store (2) 44,677 17,236 27,441 33,690 15,357 18,333 Other (3) 2,642 10,612 ( 7,970 ) 24,741 10,724 14,017 Total non-same store/other 47,319 27,848 19,471 58,431 26,081 32,350 Totals $ 1,422,397 $ 472,099 $ 950,298 $ 1,340,378 $ 443,767 $ 896,611 (1) For the six months ended June 30, 2023 and 2022 , same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2022, less properties subsequently sold, which represented 76,952 apartment units. (2) For the six months ended June 30, 2023 and 2022, non-same store primarily includes properties acquired after January 1, 2022, plus any properties in lease-up and not stabilized as of January 1, 2022, and any properties undergoing major renovations. (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Quarter Ended June 30, 2023 Quarter Ended June 30, 2022 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 118,562 $ 35,795 $ 82,767 $ 118,840 $ 33,060 $ 85,780 Orange County 32,316 7,186 25,130 31,252 6,482 24,770 San Diego 24,691 5,747 18,944 23,067 5,220 17,847 Subtotal - Southern California 175,569 48,728 126,841 173,159 44,762 128,397 San Francisco 108,641 32,062 76,579 105,403 30,081 75,322 Washington, D.C. 109,660 34,807 74,853 103,268 34,311 68,957 New York 119,785 48,088 71,697 106,332 46,067 60,265 Seattle 74,729 21,246 53,483 71,577 20,269 51,308 Boston 72,469 20,747 51,722 67,117 20,016 47,101 Denver 17,873 5,010 12,863 16,833 4,697 12,136 Other Expansion Markets 18,718 8,346 10,372 17,685 7,375 10,310 Total same store 697,444 219,034 478,410 661,374 207,578 453,796 Non-same store/other Non-same store (2) 19,664 7,219 12,445 14,848 6,064 8,784 Other (3) 201 1,598 ( 1,397 ) 10,808 4,563 6,245 Total non-same store/other 19,865 8,817 11,048 25,656 10,627 15,029 Totals $ 717,309 $ 227,851 $ 489,458 $ 687,030 $ 218,205 $ 468,825 (1) For the quarters ended June 30, 2023 and 2022 , same store primarily includes all properties acquired or completed that were stabilized prior to April 1, 2022, less properties subsequently sold, which represented 77,545 apartment units. (2) For the quarters ended June 30, 2023 and 2022, non-same store primarily includes properties acquired after April 1, 2022, plus any properties in lease-up and not stabilized as of April 1, 2022, and any properties undergoing major renovations. (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Six Months Ended June 30, 2023 Total Assets Capital Expenditures Same store (1) Los Angeles $ 2,522,130 $ 23,582 Orange County 349,363 4,230 San Diego 229,569 7,907 Subtotal - Southern California 3,101,062 35,719 San Francisco 3,023,790 19,750 Washington, D.C. 3,039,410 23,142 New York 3,375,622 10,072 Seattle 2,141,765 14,237 Boston 1,773,166 11,998 Denver 840,581 1,773 Other Expansion Markets 796,218 1,805 Total same store 18,091,614 118,496 Non-same store/other Non-same store (2) 1,321,994 16,682 Other (3) 732,121 69 Total non-same store/other 2,054,115 16,751 Totals $ 20,145,729 $ 135,247 (1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2022, less properties subsequently sold, which represented 76,952 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2022, plus any properties in lease-up and not stabilized as of January 1, 2022, and any properties undergoing major renovations. (3) Other includes development, other corporate operations and capital expenditures for properties sold.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2023
Subsequent Events [Abstract]
Subsequent Events	14. Subsequent Events Subsequent to June 30, 2023, the Company: • Repaid $ 67.9 million of mortgage debt at par prior to maturity; • Locked the interest rate on secured notes totaling $ 530.0 million, which, subject to customary conditions, are anticipated to close in September 2023 , at an all-in effective interest rate of approximately 4.7 %; and • Received approximately $ 27.1 million to settle nine forward starting swaps in conjunction with the interest rate lock of the $ 530.0 million of secured notes discussed above.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Summary Of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States (“GAAP”) for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) and certain reclassifications considered necessary for a fair presentation have been included. Operating results for the six months ended June 30, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. In preparation of the Company’s financial statements in conformity with accounting principles generally accepted in the United States, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. The balance sheets at December 31, 2022 have been derived from the audited financial statements at that date but do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. For further information, including definitions of capitalized terms not defined herein, refer to the consolidated financial statements and footnotes thereto included in the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2022 .
Income and Other Taxes	Income and Other Taxes EQR has elected to be taxed as a REIT. This, along with the nature of the operations of its operating properties, resulted in no provision for federal income taxes at the EQR level. In addition, ERPOP generally is not liable for federal income taxes as the partners recognize their allocable share of income or loss in their tax returns; therefore no provision for federal income taxes has been made at the ERPOP level. Historically, the Company has generally only incurred certain state and local income, excise and franchise taxes. The Company has elected taxable REIT subsidiary (“TRS”) status for certain of its corporate subsidiaries and, as a result, these entities will incur both federal and state income taxes on any taxable income of such entities after consideration of any net operating losses.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2020, the Financial Accounting Standards Board (“FASB”) issued an amendment to the debt and equity financial instruments standards which simplifies the accounting for convertible instruments and accounting for contracts in an entity’s own equity. The Company adopted the standard when effective on January 1, 2022 and it had no impact on its consolidated results of operations and financial position. In March 2020, the FASB issued an amendment to the reference rate reform standard which provides the option for a limited period of time to ease the potential burden in accounting for, or recognizing the effects of, reference rate reform on contract modifications and hedge accounting. The new standard was effective for the Company upon issuance and elections could be made through December 31, 2024. The Company elected to apply the hedge accounting expedients and application of these expedients preserves the presentation of derivatives consistent with past presentation. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur.

Business (Tables)

Business (Tables)	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Ownership Breakdown	The ownership breakdown includes (table does not include any uncompleted development properties): Properties Apartment Units Wholly Owned Properties 289 76,986 Partially Owned Properties – Consolidated 15 3,226 304 80,212

Equity, Capital and Other Int_2

Equity, Capital and Other Interests (Tables)	6 Months Ended
	Jun. 30, 2023
Class Of Stock [Line Items]
Changes in Issued and Outstanding Common Shares and Units	The following table presents the changes in the Company’s issued and outstanding Common Shares and Units for the six months ended June 30, 2023 and 2022: 2023 2022 Common Shares Common Shares outstanding at January 1, 378,429,708 375,527,195 Common Shares Issued: Conversion of OP Units 180,629 31,089 Exercise of share options 232,317 348,510 Employee Share Purchase Plan (ESPP) 40,346 35,669 Restricted share grants, net 149,722 175,970 Common Shares outstanding at June 30, 379,032,722 376,118,433 Units Units outstanding at January 1, 12,429,737 12,659,027 Restricted unit grants, net 166,344 223,242 Conversion of OP Units to Common Shares ( 180,629 ) ( 31,089 ) Units outstanding at June 30, 12,415,452 12,851,180 Total Common Shares and Units outstanding at June 30, 391,448,174 388,969,613 Units Ownership Interest in Operating Partnership 3.2 % 3.3 %
Changes in Redemption Value of Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	The following table presents the changes in the redemption value of the Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners for the six months ended June 30, 2023 and 2022, respectively (amounts in thousands): 2023 2022 Balance at January 1, $ 318,273 $ 498,977 Change in market value 39,123 ( 98,140 ) Change in carrying value ( 2,077 ) ( 2,649 ) Balance at June 30, $ 355,319 $ 398,188
Issued and Outstanding Preferred Shares and Preference Units	The following table presents the Company’s issued and outstanding Preferred Shares/Preference Units as of June 30, 2023 and December 31, 2022: Amounts in thousands Annual Call Dividend Per June 30, December 31, Date (1) Share/Unit (2) 2023 2022 Preferred Shares/Preference Units of beneficial interest, $ 0.01 par value; 100,000,000 shares authorized: 8.29 % Series K Cumulative Redeemable Preferred Shares/Preference 50 per share/unit; 745,600 shares/units issued 12/10/2026 $ 4.145 $ 37,280 $ 37,280 $ 37,280 $ 37,280 (1) On or after the call date, redeemable Preferred Shares/Preference Units may be redeemed for cash at the option of the Company or the Operating Partnership, respectively, in whole or in part, at a redemption price equal to the liquidation price per share/unit, plus accrued and unpaid distributions, if any. (2) Dividends on Preferred Shares/Preference Units are payable quarterly.
ERPOP [Member]
Class Of Stock [Line Items]
Changes in Issued and Outstanding Common Shares and Units	The following table presents the changes in the Operating Partnership’s issued and outstanding General Partner Units and Limited Partner Units for the six months ended June 30, 2023 and 2022: 2023 2022 General and Limited Partner Units General and Limited Partner Units outstanding at January 1, 390,859,445 388,186,222 Issued to General Partner: Exercise of EQR share options 232,317 348,510 EQR’s Employee Share Purchase Plan (ESPP) 40,346 35,669 EQR’s restricted share grants, net 149,722 175,970 Issued to Limited Partners: Restricted unit grants, net 166,344 223,242 General and Limited Partner Units outstanding at June 30, 391,448,174 388,969,613 Limited Partner Units Limited Partner Units outstanding at January 1, 12,429,737 12,659,027 Limited Partner restricted unit grants, net 166,344 223,242 Conversion of Limited Partner OP Units to EQR Common Shares ( 180,629 ) ( 31,089 ) Limited Partner Units outstanding at June 30, 12,415,452 12,851,180 Limited Partner Units Ownership Interest in Operating Partnership 3.2 % 3.3 %

Real Estate (Tables)

Real Estate (Tables)	6 Months Ended
	Jun. 30, 2023
Real Estate [Abstract]
Summary of Carrying Amounts of Investment in Real Estate	The following table summarizes the carrying amounts for the Company’s investment in real estate (at cost) as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Land $ 5,579,211 $ 5,580,878 Depreciable property: Buildings and improvements 19,702,354 19,471,503 Furniture, fixtures and equipment 2,479,945 2,352,050 In-Place lease intangibles 515,298 510,816 Projects under development: Land 3,200 3,201 Construction-in-progress 47,716 109,739 Land held for development: Land 46,160 46,160 Construction-in-progress 15,174 14,407 Investment in real estate 28,389,058 28,088,754 Accumulated depreciation ( 9,428,549 ) ( 9,027,850 ) Investment in real estate, net $ 18,960,509 $ 19,060,904
Acquired Properties From Unaffiliated Parties	During th e six months ended June 30, 2023, the Company acquired the following from unaffiliated parties (purchase price in thousands): Properties Apartment Units Purchase Price Rental Properties – Consolidated (1) 2 549 $ 186,600 Total 2 549 $ 186,600 (1) Purchase price includes an allocation of approximately $ 19.3 million to land and $ 167.4 million to depreciable property (inclusive of capitalized closing costs).
Disposed Properties to Unaffiliated Parties	During the six months ended June 30, 2023, the Company disposed of the following to unaffiliated parties (sales price and net gain in thousands): Properties Apartment Units Sales Price Net Gain Rental Properties – Consolidated 7 247 $ 135,300 $ 100,122 Total 7 247 $ 135,300 $ 100,122

Commitments to Acquire_Dispos_2

Commitments to Acquire/Dispose of Real Estate (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments To Acquire Dispose Of Real Estate [Abstract]
Summary of Agreement to Acquire	The Company has entered into an agreement to acquire the following (purchase price in thousands): Properties Apartment Units Purchase Price Rental Properties – Consolidated 1 290 $ 93,000 Total 1 290 $ 93,000
Summary of Separate Agreement to Dispose	The Company has entered into an agreement to dispose of the following (sales price and net book value in thousands): Properties Apartment Units Sales Price Net Book Value at Rental Properties - Consolidated 1 166 $ 60,100 $ 31,305 Total 1 166 $ 60,100 $ 31,305

Investments in Partially Owne_2

Investments in Partially Owned Entities (Tables)	6 Months Ended
	Jun. 30, 2023
Investments In Partially Owned Entities [Abstract]
Summary of Company's Consolidated Joint Ventures	The following table summarizes the Company’s consolidated joint ventures as of June 30, 2023: Operating Properties (1), (2) Properties Apartment Units Consolidated Joint Ventures (VIE) 15 3,226 (1) During the second quarter of 2023, the Company acquired its joint venture partner's 10 % interest in a 200 -unit apartment property for $ 4.6 million, of which the Company paid $ 3.7 million in cash and ERPOP issued $ 0.9 million of 3.00 % Series Q Preference Units (see Note 3 for additional discussion). The property is now wholly owned. In connection with the buyout, the carrying amount of the Noncontrolling Interests – Partially Owned Properties totaling $ 3.7 million was reduced to zero and the remaining $ 0.9 million was recorded to paid in capital/general partner capital. The Company also repaid $ 64.7 million of mortgage debt at par prior to maturity in conjunction with the buyout. (2) The land parcel under one of the projects is subject to a long-term ground lease.
Summary of Consolidated Assets and Liabilities Related to the Company's VIEs	The following table provides consolidated assets and liabilities related to the Company's VIEs as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Consolidated Assets $ 579,832 $ 691,880 Consolidated Liabilities $ 107,228 $ 158,932
Summary of Variable Rate Construction Mortgage Debt	The following table and information summarizes the variable rate construction mortgage debt that is non-recourse to the Company at June 30, 2023 (aggregate and amounts borrowed under loan commitments in thousands): Recently Completed Operating Property Number of joint ventures with debt financing 1 Aggregate loan commitments $ 73,344 Amounts borrowed under loan commitments (1) $ 67,876 Maturity dates 2025 (1) See Note 9 for the proceeds of secured conventional floating rate debt under Mortgage Notes Payable and Note 14 for discussion of the loan repayment subsequent to June 30, 2023 .
Summary of Company's Investment in Unconsolidated Entities	The following table and information summarizes the Company’s investments in unconsolidated entities as of June 30, 2023 and December 31, 2022 (amounts in thousands except for ownership percentage): June 30, 2023 December 31, 2022 Ownership Percentage Investments in Unconsolidated Entities: Various Real Estate Holdings (VIE) $ 36,873 $ 35,974 Varies Projects Under Development and Land Held for Development (VIE) 242,391 218,043 62 % - 95 % (1) Real Estate Technology Funds/Companies (VIE) 25,695 25,249 Varies Other ( 249 ) ( 242 ) Varies Investments in Unconsolidated Entities $ 304,710 $ 279,024 (1) In certain instances, the joint venture agreements contain provisions for promoted interests in favor of our joint venture partner. If the terms of the promoted interest are attained, then our share of the proceeds from a sale or other capital event of the unconsolidated entity may be less than the indicated ownership percentage.
Summary of Company's Unconsolidated Joint Ventures Deemed to be VIEs	The following table summarizes the Company’s unconsolidated joint ventures that were deemed to be VIEs as of June 30, 2023: Real Estate Holdings (1) Projects Under Development (2), (5) Projects Held for Development (2), (3) Entities Projects Apartment Units (4) Projects Apartment Units (4) Unconsolidated Joint Ventures (VIE) 2 6 1,982 4 1,334 (1) Represents entities that hold various real estate investments. (2) Represents separate unconsolidated joint ventures for the purpose of developing multifamily rental properties. (3) Represents separate unconsolidated joint ventures that have not yet started. (4) Represents the intended number of apartment units to be developed. (5) The land parcel under one of the projects is subject to a long-term ground lease.
Summary of Information on Total Unconsolidated Development Joint Ventures	The following table provides information on total unconsolidated development joint ventures entered into during the six months ended June 30, 2023 (amounts in thousands except for number of unconsolidated joint ventures and apartment units): Number of unconsolidated joint ventures (1) 1 Apartment units (2) 368 Investments in unconsolidated entities – acquisitions $ 989 (1) The entities qualify as VIEs, but the Company is not the primary beneficiary because it does not have the power to direct the activities that most significantly impact the VIE’s performance. Therefore, the entities are unconsolidated and recorded using the equity method of accounting. See Note 2 of the Company’s and the Operating Partnership’s Annual Report on Form 10-K for the year ended December 31, 2022 for additional discussion. (2) Represents the intended number of apartment units to be developed.

Restricted Deposits (Tables)

Restricted Deposits (Tables)	6 Months Ended
	Jun. 30, 2023
Deposits Restricted [Abstract]
Restricted Deposits	The following table presents the Company’s restricted deposits as of June 30, 2023 and December 31, 2022 (amounts in thousands): June 30, 2023 December 31, 2022 Mortgage escrow deposits: Replacement reserves $ 13,440 $ 12,549 Mortgage principal reserves/sinking funds 28,802 25,304 Mortgage escrow deposits 42,242 37,853 Restricted cash: Earnest money on pending acquisitions 4,000 4,500 Restricted deposits on real estate investments 225 229 Resident security and utility deposits 39,504 38,432 Other 2,970 2,289 Restricted cash 46,699 45,450 Restricted deposits $ 88,941 $ 83,303

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2023
Leases [Abstract]
Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income	The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the six months ended June 30, 2023 and 2022 (amounts in thousands): Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Income Type Residential Non-Residential Total Residential Non-Residential Total Residential and non-residential rent $ 1,276,338 $ 31,973 $ 1,308,311 $ 1,194,087 $ 32,095 $ 1,226,182 Utility recoveries (RUBS income) (1) 42,786 419 43,205 39,583 369 39,952 Parking rent 21,893 225 22,118 21,706 202 21,908 Other lease revenue (2) ( 13,420 ) 734 ( 12,686 ) ( 889 ) ( 197 ) ( 1,086 ) Total lease revenue $ 1,327,597 $ 33,351 1,360,948 $ 1,254,487 $ 32,469 1,286,956 Parking revenue 20,395 18,431 Other revenue 41,054 34,991 Total other rental income (3) 61,449 53,422 Rental income $ 1,422,397 $ 1,340,378 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard. The following table presents the lease income types relating to lease payments for residential and non-residential leases along with the total other rental income for the quarters ended June 30, 2023 and 2022 (amounts in thousands): Quarter Ended June 30, 2023 Quarter Ended June 30, 2022 Income Type Residential Non-Residential Total Residential Non-Residential Total Residential and non-residential rent $ 641,586 $ 15,987 $ 657,573 $ 606,307 $ 16,221 $ 622,528 Utility recoveries (RUBS income) (1) 21,403 212 21,615 19,985 188 20,173 Parking rent 11,011 116 11,127 10,923 104 11,027 Other lease revenue (2) ( 5,831 ) 65 ( 5,766 ) 5,412 ( 154 ) 5,258 Total lease revenue $ 668,169 $ 16,380 684,549 $ 642,627 $ 16,359 658,986 Parking revenue 10,192 9,623 Other revenue 22,568 18,421 Total other rental income (3) 32,760 28,044 Rental income $ 717,309 $ 687,030 (1) RUBS income primarily consists of variable payments representing the recovery of utility costs from residents. (2) Other lease revenue consists of the revenue adjustment related to bad debt and other miscellaneous lease revenue. (3) Other rental income is accounted for under the revenue recognition standard.
Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances	The following table presents residential and non-residential accounts receivable and straight-line receivable balances for the Company’s properties as of June 30, 2023 and December 31, 2022 (amounts in thousands): Residential Non-Residential Balance Sheet (Other assets): June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Resident/tenant accounts receivable balances $ 27,098 $ 35,688 $ 2,382 $ 2,820 Allowance for doubtful accounts ( 22,609 ) ( 31,405 ) ( 1,383 ) ( 2,152 ) Net receivable balances $ 4,489 $ 4,283 $ 999 $ 668 Straight-line receivable balances $ 7,072 $ 4,398 $ 13,562 $ 13,795
Summary of Residential Bad Debt for Company's Properties	The following table presents residential bad debt for the Company’s properties for the six months and quarters ended June 30, 2023 and 2022 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, Income Statement (Rental income): 2023 2022 2023 2022 Bad debt, net (1) $ 19,820 $ 8,147 $ 9,065 $ ( 1,748 ) % of rental income 1.4 % 0.6 % 1.3 % ( 0.3 %) Bad debt, net benefited from additional resident payments due to governmental rental assistance programs of approximately $ 1.8 million and $ 25.1 million for the six months ended June 30, 2023 and 2022 , respectively, and $ 0.7 million and $ 15.0 million for the quarters ended June 30, 2023 and 2022 , respectively.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Instrument [Line Items]
Summary of Mortgage Notes Payable Activity	The following table summarizes the Company’s mortgage notes payable activity for the six months ended June 30, 2023 (amounts in thousands): Mortgage notes Proceeds Lump sum Scheduled Amortization Amortization Mortgage notes Fixed Rate Debt: Secured – Conventional $ 1,608,838 $ — $ — $ — $ — $ 460 $ 1,609,298 Floating Rate Debt: Secured – Conventional 108,378 22,896 (2) ( 64,722 ) ( 54 ) — 365 66,863 Secured – Tax Exempt 236,222 — — — 616 70 236,908 Floating Rate Debt 344,600 22,896 ( 64,722 ) ( 54 ) 616 435 303,771 Total $ 1,953,438 $ 22,896 $ ( 64,722 ) $ ( 54 ) $ 616 $ 895 $ 1,913,069 (1) Represents amortization of deferred financing costs, net of debt financing costs. (2) See Note 6 for additional discussion of the variable rate construction mortgage debt.
Summary of Notes Activity	The following table summarizes the Company’s notes activity for the six months ended June 30, 2023 (amounts in thousands): Notes, net as of Proceeds Lump sum Amortization Amortization Notes, net as of Fixed Rate Debt: Unsecured – Public $ 5,342,329 $ — $ — $ 1,124 $ 1,920 $ 5,345,373 (1) Represents amortization of deferred financing costs, net of debt financing costs.
Schedule of Unsecured Revolving Credit Facility	The following table presents the availability on the Company’s unsecured revolving credit facility as of June 30, 2023 (amounts in thousands): June 30, 2023 Unsecured revolving credit facility commitment $ 2,500,000 Commercial paper balance outstanding ( 185,187 ) Unsecured revolving credit facility balance outstanding — Other restricted amounts ( 3,484 ) Unsecured revolving credit facility availability $ 2,311,329
Summary of Debt Extinguishment Costs Recorded as Additional Expense	The following table summarizes the Company's total debt extinguishment costs recorded as additional expense for the six months and quarters ended June 30, 2023 and 2022 (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Write-offs of unamortized deferred financing costs $ 47 $ 92 $ 47 $ 92 Write-offs of unamortized (premiums)/discounts/OCI — 377 — 377 Total $ 47 $ 469 $ 47 $ 469
Mortgages [Member]
Debt Instrument [Line Items]
Summary of Certain Interest Rate and Maturity Date Information	The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2023: June 30, 2023 Interest Rate Ranges 0.10 % - 7.91 % Weighted Average Interest Rate 3.63 % Maturity Date Ranges 2023 - 2061
Notes [Member]
Debt Instrument [Line Items]
Summary of Certain Interest Rate and Maturity Date Information	The following table summarizes certain interest rate and maturity date information as of and for the six months ended June 30, 2023: June 30, 2023 Interest Rate Ranges 1.85 % - 7.57 % Weighted Average Interest Rate 3.54 % Maturity Date Ranges 2025 - 2047
Commercial Paper [Member]
Debt Instrument [Line Items]
Summary of Certain Interest Rate and Maturity Date Information	The following table summarizes certain weighted average interest rate, maturity and amount outstanding information for the commercial paper program as of and for the six months ended June 30, 2023: June 30, 2023 Weighted Average Interest Rate (1) 5.12 % Weighted Average Maturity (in days) 26 Weighted Average Amount Outstanding $ 164.5 million (1) The notes bear interest at various floating rates.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Summary of Valuations for Each Type of Fair Value Measurement	The following table summarizes the inputs to the valuations for each type of fair value measurement: Fair Value Measurement Type Valuation Inputs Employee holdings (other than Common Shares) within the supplemental executive retirement plan (the “SERP”) Quoted market prices for identical assets. These holdings are included in other assets and other liabilities on the consolidated balance sheets. Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Quoted market price of Common Shares. Mortgage notes payable and private unsecured debt (including its commercial paper and line of credit, if applicable) Indicative rates provided by lenders of similar loans. Public unsecured notes Quoted market prices for each underlying issuance.
Summary of Carrying and Fair Values of Financial Instruments	The following table provides a summary of the carrying and fair values for the Company’s mortgage notes payable and unsecured debt (including its commercial paper and line of credit, if applicable) at June 30, 2023 and December 31, 2022, respectively (amounts in thousands): June 30, 2023 December 31, 2022 Carrying Value Estimated Fair Carrying Value Estimated Fair Mortgage notes payable, net $ 1,913,069 $ 1,773,555 $ 1,953,438 $ 1,803,525 Unsecured debt, net 5,529,847 4,975,013 5,472,284 4,874,490 Total debt, net $ 7,442,916 $ 6,748,568 $ 7,425,722 $ 6,678,015
Summarizes Company’s Consolidated Derivative Instruments	The following table summarizes the Company’s consolidated derivative instruments at June 30, 2023 (dollar amounts are in thousands): Forward Starting Current Notional Balance $ 450,000 Lowest Interest Rate 2.4470 % Highest Interest Rate 3.6995 % Maturity Date 2033 (1) Forward Starting Swaps – Designed to partially fix interest rates in advance of planned future debt issuances. These swaps have mandatory counterparty terminations i n 2024 and are targeted for certain 2023 debt issuances. All of these forward starting swaps settled subsequent to June 30, 2023. See Note 14 for additional discussion.
Summary of Fair Value Measurements for Each Major Category of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables provide a summary of the fair value measurements for each major category of assets and liabilities measured at fair value on a recurring basis and the location within the accompanying consolidated balance sheets at June 30, 2023 and December 31, 2022, respectively (amounts in thousands): Fair Value Measurements at Reporting Date Using Description Balance Sheet 6/30/2023 Quoted Prices in Significant Other Significant Assets Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Assets $ 25,224 $ — $ 25,224 $ — Supplemental Executive Retirement Plan Other Assets 130,135 130,135 — — Total $ 155,359 $ 130,135 $ 25,224 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 515 $ — $ 515 $ — Supplemental Executive Retirement Plan Other Liabilities 130,135 130,135 — — Total $ 130,650 $ 130,135 $ 515 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 355,319 $ — $ 355,319 $ — Fair Value Measurements at Reporting Date Using Description Balance Sheet 12/31/2022 Quoted Prices in Significant Other Significant Assets Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Assets $ 21,864 $ — $ 21,864 $ — Supplemental Executive Retirement Plan Other Assets 133,245 133,245 — — Total $ 155,109 $ 133,245 $ 21,864 $ — Liabilities Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps Other Liabilities $ 1,210 $ — $ 1,210 $ — Supplemental Executive Retirement Plan Other Liabilities 133,245 133,245 — — Total $ 134,455 $ 133,245 $ 1,210 $ — Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners Mezzanine $ 318,273 $ — $ 318,273 $ —
Summary of Effect of Cash Flow Hedges on the Accompanying Consolidated Statements of Operations and Comprehensive Income	The following tables provide a summary of the effect of cash flow hedges on the Company’s accompanying consolidated statements of operations and comprehensive income for the six months ended June 30, 2023 and 2022, respectively (amounts in thousands): June 30, 2023 Amount of Location of Amount of Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ 4,054 Interest expense $ ( 2,201 ) Total $ 4,054 $ ( 2,201 ) June 30, 2022 Amount of Location of Amount of Derivatives designated as hedging instruments: Interest Rate Contracts: Forward Starting Swaps $ ( 1,259 ) Interest expense $ ( 4,881 ) Total $ ( 1,259 ) $ ( 4,881 )

Earnings Per Share and Earnin_2

Earnings Per Share and Earnings Per Unit (Tables)	6 Months Ended
	Jun. 30, 2023
Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit	The following tables set forth the computation of net income per share – basic and net income per share – diluted for the Company (amounts in thousands except per share amounts): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Numerator for net income per share – basic: Net income $ 364,933 $ 306,476 $ 144,862 $ 232,678 Allocation to Noncontrolling Interests – Operating Partnership ( 11,613 ) ( 10,027 ) ( 4,554 ) ( 7,633 ) Net (income) loss attributable to Noncontrolling ( 2,082 ) ( 1,583 ) ( 1,105 ) ( 944 ) Preferred distributions ( 1,545 ) ( 1,545 ) ( 773 ) ( 773 ) Numerator for net income per share – basic $ 349,693 $ 293,321 $ 138,430 $ 223,328 Numerator for net income per share – diluted: Net income $ 364,933 $ 306,476 $ 144,862 $ 232,678 Net (income) loss attributable to Noncontrolling ( 2,082 ) ( 1,583 ) ( 1,105 ) ( 944 ) Preferred distributions ( 1,545 ) ( 1,545 ) ( 773 ) ( 773 ) Numerator for net income per share – diluted $ 361,306 $ 303,348 $ 142,984 $ 230,961 Denominator for net income per share – basic and diluted: Denominator for net income per share – basic 378,492 375,640 378,642 375,769 Effect of dilutive securities: OP Units 11,450 11,891 11,390 11,895 Long-term compensation shares/units 1,121 1,863 1,155 1,698 ATM forward sales — 69 — 1 Denominator for net income per share – diluted 391,063 389,463 391,187 389,363 Net income per share – basic $ 0.92 $ 0.78 $ 0.37 $ 0.59 Net income per share – diluted $ 0.92 $ 0.78 $ 0.37 $ 0.59
ERPOP [Member]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share and Earnings Per Unit	The following tables set forth the computation of net income per Unit – basic and net income per Unit – diluted for the Operating Partnership (amounts in thousands except per Unit amounts): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Numerator for net income per Unit – basic and diluted: Net income $ 364,933 $ 306,476 $ 144,862 $ 232,678 Net (income) loss attributable to Noncontrolling ( 2,082 ) ( 1,583 ) ( 1,105 ) ( 944 ) Allocation to Preference Units ( 1,545 ) ( 1,545 ) ( 773 ) ( 773 ) Numerator for net income per Unit – basic and diluted $ 361,306 $ 303,348 $ 142,984 $ 230,961 Denominator for net income per Unit – basic and diluted: Denominator for net income per Unit – basic 389,942 387,531 390,032 387,664 Effect of dilutive securities: Dilution for Units issuable upon assumed exercise/vesting 1,121 1,863 1,155 1,698 ATM forward sales — 69 — 1 Denominator for net income per Unit – diluted 391,063 389,463 391,187 389,363 Net income per Unit – basic $ 0.92 $ 0.78 $ 0.37 $ 0.59 Net income per Unit – diluted $ 0.92 $ 0.78 $ 0.37 $ 0.59

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Summary of Real Estate Development Commitments	The following table summarizes the gross remaining total project costs for the Company’s projects under development at June 30, 2023 (total project costs remaining in thousands): Projects Apartment Units Total Project Costs Remaining (1) Projects Under Development Consolidated 1 225 $ 101,705 Unconsolidated 6 1,982 243,293 Total Projects Under Development 7 2,207 $ 344,998 (1) The Company’s share of the $ 345.0 million in total project costs remaining approximates $ 109.7 million, with the balance funded by the Company’s joint venture partners (approximately $ 2.7 million) and/or applicable construction loans (approximately $ 232.6 million).

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Reconciliation of NOI from Rental Real Estate Specific to Continuing Operations	The following table presents a reconciliation of NOI from our rental real estate for the six months and quarters ended June 30, 2023 and 2022, respectively (amounts in thousands): Six Months Ended June 30, Quarter Ended June 30, 2023 2022 2023 2022 Rental income $ 1,422,397 $ 1,340,378 $ 717,309 $ 687,030 Property and maintenance expense ( 262,350 ) ( 241,229 ) ( 124,771 ) ( 116,355 ) Real estate taxes and insurance expense ( 209,749 ) ( 202,538 ) ( 103,080 ) ( 101,850 ) Total operating expenses ( 472,099 ) ( 443,767 ) ( 227,851 ) ( 218,205 ) Net operating income $ 950,298 $ 896,611 $ 489,458 $ 468,825
Schedule of NOI from Our Rental Real Estate for Each Segment Specific to Continuing Operations	The following tables present NOI from our rental real estate for each segment for the six months and quarters ended June 30, 2023 and 2022, respectively, as well as total assets and capital expenditures at June 30, 2023 (amounts in thousands): Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 234,243 $ 73,597 $ 160,646 $ 227,809 $ 67,243 $ 160,566 Orange County 63,904 14,372 49,532 60,018 13,013 47,005 San Diego 45,452 10,348 35,104 42,410 9,605 32,805 Subtotal - Southern California 343,599 98,317 245,282 330,237 89,861 240,376 San Francisco 216,121 66,067 150,054 206,019 61,753 144,266 Washington, D.C. 217,282 71,075 146,207 203,973 68,523 135,450 New York 237,830 97,859 139,971 206,162 93,941 112,221 Seattle 149,291 41,726 107,565 140,114 40,195 99,919 Boston 143,127 43,383 99,744 131,779 41,074 90,705 Denver 35,469 10,500 24,969 33,065 9,331 23,734 Other Expansion Markets 32,359 15,324 17,035 30,598 13,008 17,590 Total same store 1,375,078 444,251 930,827 1,281,947 417,686 864,261 Non-same store/other Non-same store (2) 44,677 17,236 27,441 33,690 15,357 18,333 Other (3) 2,642 10,612 ( 7,970 ) 24,741 10,724 14,017 Total non-same store/other 47,319 27,848 19,471 58,431 26,081 32,350 Totals $ 1,422,397 $ 472,099 $ 950,298 $ 1,340,378 $ 443,767 $ 896,611 (1) For the six months ended June 30, 2023 and 2022 , same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2022, less properties subsequently sold, which represented 76,952 apartment units. (2) For the six months ended June 30, 2023 and 2022, non-same store primarily includes properties acquired after January 1, 2022, plus any properties in lease-up and not stabilized as of January 1, 2022, and any properties undergoing major renovations. (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Quarter Ended June 30, 2023 Quarter Ended June 30, 2022 Rental Operating NOI Rental Operating NOI Same store (1) Los Angeles $ 118,562 $ 35,795 $ 82,767 $ 118,840 $ 33,060 $ 85,780 Orange County 32,316 7,186 25,130 31,252 6,482 24,770 San Diego 24,691 5,747 18,944 23,067 5,220 17,847 Subtotal - Southern California 175,569 48,728 126,841 173,159 44,762 128,397 San Francisco 108,641 32,062 76,579 105,403 30,081 75,322 Washington, D.C. 109,660 34,807 74,853 103,268 34,311 68,957 New York 119,785 48,088 71,697 106,332 46,067 60,265 Seattle 74,729 21,246 53,483 71,577 20,269 51,308 Boston 72,469 20,747 51,722 67,117 20,016 47,101 Denver 17,873 5,010 12,863 16,833 4,697 12,136 Other Expansion Markets 18,718 8,346 10,372 17,685 7,375 10,310 Total same store 697,444 219,034 478,410 661,374 207,578 453,796 Non-same store/other Non-same store (2) 19,664 7,219 12,445 14,848 6,064 8,784 Other (3) 201 1,598 ( 1,397 ) 10,808 4,563 6,245 Total non-same store/other 19,865 8,817 11,048 25,656 10,627 15,029 Totals $ 717,309 $ 227,851 $ 489,458 $ 687,030 $ 218,205 $ 468,825 (1) For the quarters ended June 30, 2023 and 2022 , same store primarily includes all properties acquired or completed that were stabilized prior to April 1, 2022, less properties subsequently sold, which represented 77,545 apartment units. (2) For the quarters ended June 30, 2023 and 2022, non-same store primarily includes properties acquired after April 1, 2022, plus any properties in lease-up and not stabilized as of April 1, 2022, and any properties undergoing major renovations. (3) Other includes development, other corporate operations and operations prior to disposition for properties sold. Six Months Ended June 30, 2023 Total Assets Capital Expenditures Same store (1) Los Angeles $ 2,522,130 $ 23,582 Orange County 349,363 4,230 San Diego 229,569 7,907 Subtotal - Southern California 3,101,062 35,719 San Francisco 3,023,790 19,750 Washington, D.C. 3,039,410 23,142 New York 3,375,622 10,072 Seattle 2,141,765 14,237 Boston 1,773,166 11,998 Denver 840,581 1,773 Other Expansion Markets 796,218 1,805 Total same store 18,091,614 118,496 Non-same store/other Non-same store (2) 1,321,994 16,682 Other (3) 732,121 69 Total non-same store/other 2,054,115 16,751 Totals $ 20,145,729 $ 135,247 (1) Same store primarily includes all properties acquired or completed that were stabilized prior to January 1, 2022, less properties subsequently sold, which represented 76,952 apartment units. (2) Non-same store primarily includes properties acquired after January 1, 2022, plus any properties in lease-up and not stabilized as of January 1, 2022, and any properties undergoing major renovations. (3) Other includes development, other corporate operations and capital expenditures for properties sold.

Business - Additional Informati

Business - Additional Information (Details)	Jun. 30, 2023 Property ApartmentUnit State
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Number of states in which entity operates | State	10
Properties | Property	304
Apartment units | ApartmentUnit	80,212
ERPOP [Member]
Organization Consolidation And Presentation Of Financial Statements Disclosure [Line Items]
Noncontrolling interest, ownership percentage by parent	96.80%

Business - Ownership Breakdown

Business - Ownership Breakdown (Details)	Jun. 30, 2023 ApartmentUnit Property
Property/Unit schedule
Properties | Property	304
Apartment Units | ApartmentUnit	80,212
Wholly Owned Properties
Property/Unit schedule
Properties | Property	289
Apartment Units | ApartmentUnit	76,986
Partially Owned Properties - Consolidated
Property/Unit schedule
Properties | Property	15
Apartment Units | ApartmentUnit	3,226

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Provision for income tax	$ 336,000	$ 291,000	$ 634,000	$ 573,000
Federal [Member]
Provision for income tax			$ 0

Equity, Capital and Other Int_3

Equity, Capital and Other Interests - Changes in Company's Issued and Outstanding Common Shares and Units (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Equity Capital And Other Interests [Abstract]
Common Stock, Shares, Outstanding	378,429,708	375,527,195
Common Shares Issued:
Conversion of OP Units	180,629	31,089
Exercise of share options	232,317	348,510
Employee Share Purchase Plan (ESPP)	40,346	35,669
Restricted share grants, net	149,722	175,970
Common Stock, Shares, Outstanding	379,032,722	376,118,433
Units
Total Units Outstanding	12,429,737	12,659,027
Restricted unit grants, net	166,344	223,242
Conversion of OP Units to Common Shares	(180,629)	(31,089)
Total Units Outstanding	12,415,452	12,851,180
Common Shares And Units Outstanding	391,448,174	388,969,613
Units Ownership Interest in Operating Partnership	3.20%	3.30%

Equity, Capital and Other Int_4

Equity, Capital and Other Interests - Changes in Operating Partnership's Issued and Outstanding General Partner Units and Limited Partner Units (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
General and Limited Partner Units
Exercise of share options	232,317	348,510
Employee Share Purchase Plan (ESPP)	40,346	35,669
Restricted share grants, net	149,722	175,970
Restricted unit grants, net	166,344	223,242
Common Shares And Units Outstanding	391,448,174	388,969,613
Limited Partner Units
Total Units Outstanding	12,429,737	12,659,027
Restricted unit grants, net	166,344	223,242
Conversion of Limited Partner OP Units to EQR Common Shares	(180,629)	(31,089)
Total Units Outstanding	12,415,452	12,851,180
Units Ownership Interest in Operating Partnership	3.20%	3.30%
ERPOP [Member]
General and Limited Partner Units
Common Shares And Units Outstanding	390,859,445	388,186,222
Exercise of share options	232,317	348,510
Employee Share Purchase Plan (ESPP)	40,346	35,669
Restricted share grants, net	149,722	175,970
Restricted unit grants, net	166,344	223,242
Common Shares And Units Outstanding	391,448,174	388,969,613
Limited Partner Units
Total Units Outstanding	12,429,737	12,659,027
Restricted unit grants, net	166,344	223,242
Conversion of Limited Partner OP Units to EQR Common Shares	(180,629)	(31,089)
Total Units Outstanding	12,415,452	12,851,180
Units Ownership Interest in Operating Partnership	3.20%	3.30%

Equity, Capital and Other Int_5

Equity, Capital and Other Interests - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Equity Capital And Other Interests [Abstract]
Redeemable noncontrolling interests - operating partnership	$ 355,319	$ 318,273	$ 398,188	$ 498,977
Preferred stock, shares authorized	100,000,000	100,000,000
Preferred stock, par or stated value per share	$ 0.01	$ 0.01

Equity, Capital and Other Int_6

Equity, Capital and Other Interests - Changes in Redemption Value of Redeemable Noncontrolling Interests - Operating Partnership (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Class of Stock [Line Items]
Redeemable Noncontrolling Interests - Operating Partnership Units	$ 318,273	$ 498,977
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership	39,123	(98,140)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	(2,077)	(2,649)
Redeemable Noncontrolling Interests - Operating Partnership Units	355,319	398,188
E R P O P [Member]
Class of Stock [Line Items]
Redeemable Noncontrolling Interests - Operating Partnership Units	318,273	498,977
Change in market value of Redeemable Noncontrolling Interests - Operating Partnership	39,123	(98,140)
Change in carrying value of Redeemable Noncontrolling Interests - Operating Partnership	(2,077)	(2,649)
Redeemable Noncontrolling Interests - Operating Partnership Units	$ 355,319	$ 398,188

Equity, Capital and Other Int_7

Equity, Capital and Other Interests - Changes in Redemption Value of Redeemable Limited Partners Interest (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Class of Stock [Line Items]
Redeemable Limited Partners	$ 318,273	$ 498,977
Limited Partners Change In Redemption Value	39,123	(98,140)
Limited Partners Change In Carrying Value	(2,077)	(2,649)
Redeemable Limited Partners	355,319	398,188
E R P O P [Member]
Class of Stock [Line Items]
Redeemable Limited Partners	318,273	498,977
Limited Partners Change In Redemption Value	39,123	(98,140)
Limited Partners Change In Carrying Value	(2,077)	(2,649)
Redeemable Limited Partners	$ 355,319	$ 398,188

Equity, Capital and Other Int_8

Equity, Capital and Other Interests - Issued and Outstanding Preferred Shares and Preference Units (Details) - EQR and ERPOP [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
8.29% Series K Cumulative Redeemable Preferred Shares/Preference Units; liquidation value $50 per share/unit; 745,600 shares/units issued and outstanding as of June 30, 2023 and December 31, 2022	$ 37,280	$ 37,280
Preferred Stock
Class Of Stock [Line Items]
Preferred Stocks Preference Units Call Date	Dec. 10, 2026
Annual Dividend Per Preferred Share Preference Unit	$ 4.145
8.29% Series K Cumulative Redeemable Preferred Shares/Preference Units; liquidation value $50 per share/unit; 745,600 shares/units issued and outstanding as of June 30, 2023 and December 31, 2022	$ 37,280	$ 37,280

Equity, Capital and Other Int_9

Equity, Capital and Other Interests - Issued and Outstanding Preferred Shares and Preference Units (Parenthetical) (Details) - $ / shares	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Class Of Stock [Line Items]
Preferred stock, par or stated value per share	$ 0.01	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	100,000,000	100,000,000	100,000,000
Preferred Stock
Class Of Stock [Line Items]
Preferred Stock Preference Units Issued	745,600	745,600	745,600
Preferred Stock Preference Units Outstanding	745,600	745,600	745,600
Preferred Stock Preference Units Redemption Price Per Share	$ 50	$ 50	$ 50
Preferred Stock Preference Units Dividend Rate Percentage	3%	8.29%	8.29%

Equity, Capital and Other In_10

Equity, Capital and Other Interests - Other - Additional Information (Details) - $ / shares	3 Months Ended	6 Months Ended	12 Months Ended	186 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2023
Common Stock, Shares, Issued	379,032,722	379,032,722	378,429,708	379,032,722
Stock repurchase program, number of shares authorized to be repurchased	13,000,000	13,000,000		13,000,000
Stock open market repurchased and retired during period, shares				0
Stock repurchase program, remaining number of shares authorized to be repurchased	13,000,000	13,000,000		13,000,000
Preferred unit par value	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Preferred Stock [Member]
Redeemable preference shares issued related to buyout of non controlling interest	933,454	933,454		933,454
Preferred stock preference units dividend rate percentage	3%	8.29%	8.29%
Preferred unit liquidation value	$ 1	$ 1		$ 1
Preferred stock, pay distributions	$ 0.03
Forward Sales Agreements [Member]
Common shares available for issuance	13,000,000	13,000,000		13,000,000

Real Estate - Summary of Carryi

Real Estate - Summary of Carrying Amounts of Investment in Real Estate (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Land	$ 5,579,211	$ 5,580,878
Depreciable property:
Buildings and improvements	19,702,354	19,471,503
Furniture, fixtures and equipment	2,479,945	2,352,050
In-Place lease intangibles	515,298	510,816
Projects under development:
Projects under development	50,916	112,940
Land held for development:
Land held for development	61,334	60,567
Investment in real estate	28,389,058	28,088,754
Accumulated depreciation	(9,428,549)	(9,027,850)
Investment in real estate, net	18,960,509	19,060,904
Land [Member]
Projects under development:
Projects under development	3,200	3,201
Land held for development:
Land held for development	46,160	46,160
Construction-in-progress [Member]
Projects under development:
Projects under development	47,716	109,739
Land held for development:
Land held for development	$ 15,174	$ 14,407

Real Estate - Acquired Properti

Real Estate - Acquired Properties From Unaffiliated Parties (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) ApartmentUnit Property
Properties | Property	2
Apartment Units | ApartmentUnit	549
Purchase Price | $	$ 186,600
Rental Properties - Consolidated [Member]
Properties | Property	2
Apartment Units | ApartmentUnit	549
Purchase Price | $	$ 186,600

Real Estate - Acquired Proper_2

Real Estate - Acquired Properties From Unaffiliated Parties (Parenthetical) (Details) $ in Thousands	Jun. 30, 2023 USD ($)
Purchase price	$ 186,600
Land [Member]
Purchase price	19,300
Depreciable Property [Member]
Purchase price	$ 167,400

Real Estate - Disposed Properti

Real Estate - Disposed Properties to Unaffiliated Parties (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) ApartmentUnit Property	Jun. 30, 2022 USD ($)
Properties disposed | Property			7
Property Units disposed | ApartmentUnit			247
Sales Price			$ 135,300
Net Gain	$ (87)	$ 107,897	$ 100,122	$ 107,795
Rental Properties - Consolidated [Member]
Properties disposed | Property			7
Property Units disposed | ApartmentUnit			247
Sales Price			$ 135,300
Net Gain			$ 100,122

Commitments to Acquire_Dispos_3

Commitments to Acquire/Dispose of Real Estate - Summary of Acquired from Unaffiliated Parties (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) ApartmentUnit Property
Real Estate Properties [Line Items]
Properties | Property	1
Apartment Units | ApartmentUnit	290
Purchase Price | $	$ 93,000
Rental Properties - Consolidated
Real Estate Properties [Line Items]
Properties | Property	1
Apartment Units | ApartmentUnit	290
Purchase Price | $	$ 93,000

Commitments to Acquire_Dispos_4

Commitments to Acquire/Dispose of Real Estate - Summary of Separate Agreements to Dispose (Details) $ in Thousands	Jun. 30, 2023 USD ($) Property ApartmentUnit
Property/Unit schedule
Properties | Property	1
Apartment Units | ApartmentUnit	166
Sales Price	$ 60,100
Net Book Value at June 30, 2023	$ 31,305
Rental Properties - Consolidated [Member]
Property/Unit schedule
Properties | Property	1
Apartment Units | ApartmentUnit	166
Sales Price	$ 60,100
Net Book Value at June 30, 2023	$ 31,305

Investments in Partially Owne_3

Investments in Partially Owned Entities - Summary of Company's Consolidated Joint Ventures (Details)	Jun. 30, 2023 Property ApartmentUnit
Variable Interest Entity [Line Items]
Properties | Property	304
Apartment units | ApartmentUnit	80,212
Consolidated VIE [Member] | Operating Properties [Member]
Variable Interest Entity [Line Items]
Properties | Property	15
Apartment units | ApartmentUnit	3,226

Investments in Partially Owne_4

Investments in Partially Owned Entities - Summary of Company's Consolidated Joint Ventures (Parenthetical) (Details) $ in Thousands	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2023 USD ($) ApartmentUnit	Jun. 30, 2023 USD ($) ApartmentUnit	Dec. 31, 2022
Variable Interest Entity [Line Items]
Apartment Units | ApartmentUnit		549
Payments to acquired interest in consolidated operating property	$ 4,600
Repayment of debt		$ 54
Preferred Stock [Member]
Variable Interest Entity [Line Items]
Payments to acquired interest in consolidated operating property	$ 900
Preferred stock preference units dividend rate percentage	3%	8.29%	8.29%
Cash [Member]
Variable Interest Entity [Line Items]
Payments to acquired interest in consolidated operating property	$ 3,700
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Percentage interest in consolidated operating property	10%
Apartment Units | ApartmentUnit	200
Repayment of debt	$ 64,700
Variable Interest Entity, Primary Beneficiary [Member] | Noncontrolling Interest [Member]
Variable Interest Entity [Line Items]
Payments to acquired interest in consolidated operating property	3,700
Partially Owned Property Reduced Amount	0
Variable Interest Entity, Primary Beneficiary [Member] | Additional Paid-in Capital [Member]
Variable Interest Entity [Line Items]
Payments to acquired interest in consolidated operating property	$ 900

Investments in Partially Owne_5

Investments in Partially Owned Entities - Summary of Consolidated Assets and Liabilities Related to the Company's VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Consolidated Assets	$ 20,145,729	$ 20,218,262
Consolidated Liabilities	8,563,867	8,517,310
Consolidated VIE [Member]
Variable Interest Entity [Line Items]
Consolidated Assets	579,832	691,880
Consolidated Liabilities	$ 107,228	$ 158,932

Investments in Partially Owne_6

Investments in Partially Owned Entities - Summary of Variable Rate Construction Mortgage Debt (Details) - Consolidated VIE [Member] - Recently Completed Operating Property [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) JointVenture
Variable Interest Entity [Line Items]
Number of joint ventures with debt financing | JointVenture	1
Aggregate loan commitments	$ 73,344
Amounts borrowed under loan commitments	$ 67,876
Maturity dates	2025

Investments in Partially Owne_7

Investments in Partially Owned Entities - Summary of Company's Investment in Unconsolidated Entities (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	$ 304,710		$ 279,024
Various Real Estate Holdings [Member] | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	36,873		35,974
Project under Development and Land Held for Development
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	242,391		218,043
Project under Development and Land Held for Development | Variable Interest Entity, Not Primary Beneficiary | Minimum [Member]
Variable Interest Entity [Line Items]
Ownership Percentage		62%
Project under Development and Land Held for Development | Variable Interest Entity, Not Primary Beneficiary | Maximum [Member]
Variable Interest Entity [Line Items]
Ownership Percentage		95%
Real Estate Technology Funds/Companies | Variable Interest Entity, Not Primary Beneficiary
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	25,695		25,249
Other [Member]
Variable Interest Entity [Line Items]
Investments in Unconsolidated Entities	$ (249)		$ (242)

Investments in Partially Owne_8

Investments in Partially Owned Entities - Summary of Company's Unconsolidated Joint Ventures Deemed to be VIEs (Details)	Jun. 30, 2023 Entity Project ApartmentUnit
Variable Interest Entity [Line Items]
Apartment units	80,212
Variable Interest Entity, Not Primary Beneficiary | Real Estate Holdings [Member]
Variable Interest Entity [Line Items]
Entities | Entity	2
Variable Interest Entity, Not Primary Beneficiary | Projects Under Development [Member]
Variable Interest Entity [Line Items]
Project | Project	6
Apartment units	1,982
Variable Interest Entity, Not Primary Beneficiary | Projects Held for Development [Member]
Variable Interest Entity [Line Items]
Project | Project	4
Apartment units	1,334

Investments in Partially Owne_9

Investments in Partially Owned Entities - Summary of Information on Total Unconsolidated Development Joint Ventures (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($) JointVenture ApartmentUnit
Variable Interest Entity [Line Items]
Investments in unconsolidated entities - acquisitions	$ 989
Variable Interest Entity, Not Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Number of unconsolidated joint ventures | JointVenture	1
Apartment units | ApartmentUnit	368
Variable Interest Entity, Not Primary Beneficiary [Member] | Equity Residential [Member]
Variable Interest Entity [Line Items]
Investments in unconsolidated entities - acquisitions	$ 989

Restricted Deposits - Restricte

Restricted Deposits - Restricted Deposits (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Mortgage escrow deposits:
Replacement reserves	$ 13,440	$ 12,549
Mortgage principal reserves/sinking funds	28,802	25,304
Mortgage escrow deposits	42,242	37,853
Restricted cash:
Earnest money on pending acquisitions	4,000	4,500
Restricted deposits on real estate investments	225	229
Resident security and utility deposits	39,504	38,432
Other	2,970	2,289
Restricted cash	46,699	45,450
Restricted deposits	$ 88,941	$ 83,303	$ 73,641

Leases - Summary of Lease Incom

Leases - Summary of Lease Income Types Relating to Lease Payments Along With the Total Other Rental Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Operating Leased Assets [Line Items]
Total lease revenue	$ 684,549	$ 658,986	$ 1,360,948	$ 1,286,956
Rental income	717,309	687,030	1,422,397	1,340,378
Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	668,169	642,627	1,327,597	1,254,487
Non-residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	16,380	16,359	33,351	32,469
Residential and Non-Residential Rent [Member]
Operating Leased Assets [Line Items]
Total lease revenue	657,573	622,528	1,308,311	1,226,182
Residential and Non-Residential Rent [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	641,586	606,307	1,276,338	1,194,087
Residential and Non-Residential Rent [Member] | Non-residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	15,987	16,221	31,973	32,095
Utility Recoveries (RUBS Income) [Member]
Operating Leased Assets [Line Items]
Total lease revenue	21,615	20,173	43,205	39,952
Utility Recoveries (RUBS Income) [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	21,403	19,985	42,786	39,583
Utility Recoveries (RUBS Income) [Member] | Non-residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	212	188	419	369
Parking Rent [Member]
Operating Leased Assets [Line Items]
Total lease revenue	11,127	11,027	22,118	21,908
Parking Rent [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	11,011	10,923	21,893	21,706
Parking Rent [Member] | Non-residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	116	104	225	202
Other Lease Revenue [Member]
Operating Leased Assets [Line Items]
Total lease revenue	(5,766)	5,258	(12,686)	(1,086)
Other Lease Revenue [Member] | Residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	(5,831)	5,412	(13,420)	(889)
Other Lease Revenue [Member] | Non-residential Leases [Member]
Operating Leased Assets [Line Items]
Total lease revenue	65	(154)	734	(197)
Parking Revenue
Operating Leased Assets [Line Items]
Rental income	10,192	9,623	20,395	18,431
Other Revenue
Operating Leased Assets [Line Items]
Rental income	22,568	18,421	41,054	34,991
Other Rental Income [Member]
Operating Leased Assets [Line Items]
Rental income	$ 32,760	$ 28,044	$ 61,449	$ 53,422

Leases - Summary of Residential

Leases - Summary of Residential and Non-Residential Accounts Receivable and Straight-Line Receivable Balances (Details) - Other Assets [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Residential Leases [Member]
Operating Leased Assets [Line Items]
Resident/tenant accounts receivable balances	$ 27,098	$ 35,688
Allowance for doubtful accounts	(22,609)	(31,405)
Net receivable balances	4,489	4,283
Straight-line receivable balances	7,072	4,398
Non-Residential Leases [Member]
Operating Leased Assets [Line Items]
Resident/tenant accounts receivable balances	2,382	2,820
Allowance for doubtful accounts	(1,383)	(2,152)
Net receivable balances	999	668
Straight-line receivable balances	$ 13,562	$ 13,795

Leases - Summary of Residenti_2

Leases - Summary of Residential Bad Debt for Company's Properties (Details) - Residential Leases [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Lessor Lease Description [Line Items]
Bad debt, net	$ 9,065	$ (1,748)	$ 19,820	$ 8,147
% of rental income	1.30%	(0.30%)	1.40%	0.60%

Leases - Summary of Residenti_3

Leases - Summary of Residential Bad Debt for Company's Properties (Parenthetical) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Leases [Abstract]
Bad debt, net from resident payments	$ 0.7	$ 15	$ 1.8	$ 25.1

Debt - Mortgage Notes Payable -

Debt - Mortgage Notes Payable - Summary of Mortgage Notes Payable Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	$ 1,953,438
Proceeds	22,896	$ 14,586
Lump sum payoffs	(64,722)	(260,874)
Scheduled principal repayments	(54)
Amortization of premiums/ discounts	616	$ 1,545
Amortization of deferred financing costs, net	895
Mortgage notes payable, net ending balance	1,913,069
Fixed Rate Debt [Member] | Secured - Conventional [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	1,608,838
Amortization of deferred financing costs, net	460
Mortgage notes payable, net ending balance	1,609,298
Floating Rate Debt [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	344,600
Proceeds	22,896
Lump sum payoffs	(64,722)
Scheduled principal repayments	(54)
Amortization of premiums/ discounts	616
Amortization of deferred financing costs, net	435
Mortgage notes payable, net ending balance	303,771
Floating Rate Debt [Member] | Secured - Conventional [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	108,378
Proceeds	22,896
Lump sum payoffs	(64,722)
Scheduled principal repayments	(54)
Amortization of deferred financing costs, net	365
Mortgage notes payable, net ending balance	66,863
Floating Rate Debt [Member] | Secured - Tax Exempt [Member]
Debt Instrument [Line Items]
Mortgage notes payable, net beginning balance	236,222
Amortization of premiums/ discounts	616
Amortization of deferred financing costs, net	70
Mortgage notes payable, net ending balance	$ 236,908

Debt - Mortgage Notes Payable_2

Debt - Mortgage Notes Payable - Summary of Certain Interest Rate and Maturity Date Information (Details) - Mortgages [Member]	6 Months Ended
	Jun. 30, 2023
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.63%
Maturity Date Ranges, Start	2023
Maturity Date Ranges, End	2061
Minimum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	0.10%
Maximum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	7.91%

Debt - Mortgage Notes Payable_3

Debt - Mortgage Notes Payable - Additional Information (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Mortgage notes payable	$ 1,913,069	$ 1,953,438
Credit Enhanced Debt [Member]
Debt Instrument [Line Items]
Mortgage notes payable	$ 250,000

Debt - Notes - Summary of Notes

Debt - Notes - Summary of Notes Activity (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Notes, net beginning balance	$ 5,342,329
Amortization of premiums/ discounts	1,124	$ 1,346
Notes, net ending balance	5,345,373
Fixed Rate Debt [Member] | Unsecured - Public [Member]
Debt Instrument [Line Items]
Notes, net beginning balance	5,342,329
Amortization of premiums/ discounts	1,124
Amortization of deferred financing costs, net	1,920
Notes, net ending balance	$ 5,345,373

Debt - Notes - Summary of Certa

Debt - Notes - Summary of Certain Interest Rate and Maturity Date Information (Details) - Notes [Member]	6 Months Ended
	Jun. 30, 2023
Debt Instrument [Line Items]
Weighted Average Interest Rate	3.54%
Maturity Date Ranges, Start	2025
Maturity Date Ranges, End	2047
Minimum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	1.85%
Maximum [Member]
Debt Instrument [Line Items]
Interest Rate Ranges	7.57%

Debt - Line of Credit and Comme

Debt - Line of Credit and Commercial Paper - Additional Information (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Debt instrument, maturity date	Oct. 26, 2027
Commercial paper balance outstanding	$ 1,000,000,000
Commercial Paper [Member]
Line of Credit Facility [Line Items]
Weighted average interest rates	5.12%
Weighted average amount outstanding	$ 164,500,000
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility	2,500,000,000
Ability to increase LOC facility	$ 750,000,000
Debt instrument, basis spread on variable rate	0.725%
Percentage points of line of credit facility commitment fee	0.125%
Revolving credit facility	$ 0
Commercial paper balance outstanding	$ 185,187,000

Debt - Line of Credit and Com_2

Debt - Line of Credit and Commercial Paper - Summary of Certain Weighted Average Interest Rate, Maturity and Amount Outstanding Information for the Commercial Paper Program (Details) - Commercial Paper [Member] $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Debt Instrument [Line Items]
Weighted Average Interest Rate	5.12%
Weighted Average Maturity (in days)	26 days
Weighted Average Amount Outstanding	$ 164.5

Debt - Line of Credit and Com_3

Debt - Line of Credit and Commercial Paper - Schedule of Unsecured Revolving Credit Facility (Details)	6 Months Ended
	Jun. 30, 2023 USD ($)
Line of Credit Facility [Line Items]
Commercial paper balance outstanding	$ (1,000,000,000)
Unsecured Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unsecured revolving credit facility commitment	2,500,000,000
Commercial paper balance outstanding	(185,187,000)
Unsecured revolving credit facility balance outstanding	0
Other restricted amounts	(3,484,000)
Unsecured revolving credit facility availability	$ 2,311,329,000

Debt - Other - Summary of Debt

Debt - Other - Summary of Debt Extinguishment Costs Recorded as Additional Expense (Details) - Other [Member] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Extinguishment of Debt [Line Items]
Write-offs of unamortized deferred financing costs	$ 47	$ 92	$ 47	$ 92
Write-offs of unamortized (premiums)/discounts/OCI		377		377
Total	$ 47	$ 469	$ 47	$ 469

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Valuations for Each Type of Fair Value Measurement (Details)	6 Months Ended
	Jun. 30, 2023
Employee Holdings Within The Supplemental Executive Retirement Plan
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Employee holdings (other than Common Shares) within the supplemental executive retirement plan (the “SERP”)
Valuation Inputs	Quoted market prices for identical assets. These holdings are included in other assets and other liabilities on the consolidated balance sheets.
Redeemable Noncontrolling Interests Operating Partnership Redeemable Limited Partners
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Redeemable Noncontrolling Interests – Operating Partnership/Redeemable Limited Partners
Valuation Inputs	Quoted market price of Common Shares.
Mortgage Notes Payable And Private Unsecured Debt
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Mortgage notes payable and private unsecured debt (including its commercial paper and line of credit, if applicable)
Valuation Inputs	Indicative rates provided by lenders of similar loans.
Public Unsecured Notes
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair Value Measurement Type	Public unsecured notes
Valuation Inputs	Quoted market prices for each underlying issuance.

Fair Value Measurements - Sum_2

Fair Value Measurements - Summary of Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	$ 7,442,916	$ 7,425,722
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	6,748,568	6,678,015
Mortgage Notes Payable, Net [Member] | Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	1,913,069	1,953,438
Mortgage Notes Payable, Net [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	1,773,555	1,803,525
Unsecured Debt [Member] | Carrying Value [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	5,529,847	5,472,284
Unsecured Debt [Member] | Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Balance Sheet Grouping Financial Statement Captions [Line Items]
Total debt, net	$ 4,975,013	$ 4,874,490

Fair Value Measurements - Sum_3

Fair Value Measurements - Summarizes Company's Consolidated Derivative Instruments (Details) - Forward Starting Swaps [Member] $ in Thousands	6 Months Ended
	Jun. 30, 2023 USD ($)
Derivatives Fair Value [Line Items]
Current Notional Balance	$ 450,000
Maturity Date	2033
Minimum [Member]
Derivatives Fair Value [Line Items]
Interest Rate	2.447%
Maximum [Member]
Derivatives Fair Value [Line Items]
Interest Rate	3.6995%

Fair Value Measurements - Sum_4

Fair Value Measurements - Summary of Fair Value Measurements for Each Major Category of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	$ 155,359	$ 155,109
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets
Other Liabilities, Fair Value Disclosure	$ 130,650	134,455
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	$ 355,319	318,273	$ 398,188	$ 498,977
Forward Starting Swaps [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	25,224	21,864
Other Liabilities, Fair Value Disclosure	515	1,210
SERP [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	130,135	133,245
Other Liabilities, Fair Value Disclosure	130,135	133,245
Fair Value, Inputs, Level 1 [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	130,135	133,245
Other Liabilities, Fair Value Disclosure	130,135	133,245
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	0	0
Fair Value, Inputs, Level 1 [Member] | Forward Starting Swaps [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 1 [Member] | SERP [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	130,135	133,245
Other Liabilities, Fair Value Disclosure	130,135	133,245
Fair Value, Inputs, Level 2 [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	25,224	21,864
Other Liabilities, Fair Value Disclosure	515	1,210
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	355,319	318,273
Fair Value, Inputs, Level 2 [Member] | Forward Starting Swaps [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	25,224	21,864
Other Liabilities, Fair Value Disclosure	515	1,210
Fair Value, Inputs, Level 2 [Member] | SERP [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	0	0
Redeemable Noncontrolling Interests - Operating Partnership/Redeemable Limited Partners	0	0
Fair Value, Inputs, Level 3 [Member] | Forward Starting Swaps [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	0	0
Fair Value, Inputs, Level 3 [Member] | SERP [Member]
Derivatives Fair Value [Line Items]
Other Assets, Fair Value Disclosure	0	0
Other Liabilities, Fair Value Disclosure	$ 0	$ 0

Fair Value Measurements - Sum_5

Fair Value Measurements - Summary of Effect of Cash Flow Hedges on the Accompanying Consolidated Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI on Derivative	$ 4,054	$ (1,259)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ (2,201)	$ (4,881)
Derivative Instrument, Gain (Loss) Reclassified from AOCI into Income, Effective Portion, Statement of Income or Comprehensive Income [Extensible Enumeration]	Expense incurred, net	Expense incurred, net
Forward Starting Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain/(Loss) Recognized in OCI on Derivative	$ 4,054	$ (1,259)
Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income	$ (2,201)	$ (4,881)

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative Instrument Detail [Abstract]
Unrealized gain (loss) on interest rate cash flow hedges, pretax, accumulated other comprehensive income (loss)	$ 3.7	$ (2.5)
Interest rate cash flow hedge gain (loss) to be reclassified during next 12 months, net	$ 2.4

Earnings Per Share and Earnin_3

Earnings Per Share and Earnings Per Unit - Computation of Net Income per Share Basic and Net Income per Share Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income	$ 144,862	$ 232,678	$ 364,933	$ 306,476
Allocation to Noncontrolling Interests – Operating Partnership	(4,554)	(7,633)	(11,613)	(10,027)
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(1,105)	(944)	(2,082)	(1,583)
Preferred distributions	(773)	(773)	(1,545)	(1,545)
Net income available to Common Shares	138,430	223,328	349,693	293,321
Numerator for net income per share – diluted	$ 142,984	$ 230,961	$ 361,306	$ 303,348
Weighted average Common Shares outstanding	378,642	375,769	378,492	375,640
OP Units	11,390	11,895	11,450	11,891
Dilutive Securities Options	1,155	1,698	1,121	1,863
ATM forward sales		1		69
Denominator for net income per share – diluted	391,187	389,363	391,063	389,463
Net income per share - basic	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Net income per share - diluted	$ 0.37	$ 0.59	$ 0.92	$ 0.78

Earnings Per Share and Earnin_4

Earnings Per Share and Earnings Per Unit - Computation of Net Income per Unit Basic and Net Income per Unit Diluted for Operating Partnership (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Net income	$ 144,862	$ 232,678	$ 364,933	$ 306,476
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	$ (1,105)	$ (944)	$ (2,082)	$ (1,583)
Dilutive Securities Options	1,155	1,698	1,121	1,863
ATM forward sales		1		69
Denominator for net income per share – diluted	391,187	389,363	391,063	389,463
Net income per share - basic	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Net income per share - diluted	$ 0.37	$ 0.59	$ 0.92	$ 0.78
ERPOP [Member]
Net income	$ 144,862	$ 232,678	$ 364,933	$ 306,476
Net (income) loss attributable to Noncontrolling Interests – Partially Owned Properties	(1,105)	(944)	(2,082)	(1,583)
Allocation to Preference Units	(773)	(773)	(1,545)	(1,545)
Numerator for net income per Unit – basic and diluted	$ 142,984	$ 230,961	$ 361,306	$ 303,348
Denominator for net income per Unit – basic	390,032	387,664	389,942	387,531
Dilutive Securities Options	1,155	1,698	1,121	1,863
ATM forward sales		1		69
Denominator for net income per share – diluted	391,187	389,363	391,063	389,463
Net income per share - basic	$ 0.37	$ 0.59	$ 0.92	$ 0.78
Net income per share - diluted	$ 0.37	$ 0.59	$ 0.92	$ 0.78

Commitments and Contingencies -

Commitments and Contingencies - Summary of Real Estate Development Commitments (Details) $ in Thousands	Jun. 30, 2023 USD ($) Apartment Project
Projects Under Development Consolidated [Member]
Projects/Investments/Units/Remaining Commitments schedule
Apartment Units | Apartment	225
Consolidated project under development commitment fund | $	$ 101,705
Number of consolidated projects in various stages of development | Project	1
Projects Under Development Unconsolidated [Member]
Projects/Investments/Units/Remaining Commitments schedule
Apartment Units | Apartment	1,982
Unconsolidated project under development commitment fund | $	$ 243,293
Number of unconsolidated projects in various stages of development | Project	6
Projects Under Development [Member]
Projects/Investments/Units/Remaining Commitments schedule
Apartment Units | Apartment	2,207
Project under development commitment fund | $	$ 344,998
Number of projects in various stages of development | Project	7

Commitments and Contingencies_2

Commitments and Contingencies - Summary of Real Estate Development Commitments (Parenthetical) (Details) $ in Millions	Jun. 30, 2023 USD ($)
Projects/Investments/Units/Remaining Commitments schedule
Total project costs remaining under development commitment fund	$ 345
Parent
Projects/Investments/Units/Remaining Commitments schedule
Total project costs remaining under development commitment fund	109.7
Corporate Joint Venture
Projects/Investments/Units/Remaining Commitments schedule
Total project costs remaining under development commitment fund	2.7
Construction Loans
Projects/Investments/Units/Remaining Commitments schedule
Total project costs remaining under development commitment fund	$ 232.6

Commitments and Contingencies_3

Commitments and Contingencies - Additional Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($) Investment
Commitments And Contingencies [Abstract]
Number of real estate investment funds | Investment	9
Real estate investment funds	$ 36.9
Real estate technology and other real estate investments commitment funds	$ 16.1

Reportable Segments - Additiona

Reportable Segments - Additional Information (Details) - Customer	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Number of customers contributed 10% or more of total revenue	0	0
Non-residential Leases [Member] | Revenue [Member] | Revenue Concentration Risk [Member]
Segment Reporting Information [Line Items]
Concentration risk, percentage	3.80%

Reportable Segments - Reconcili

Reportable Segments - Reconciliation of NOI from Rental Real Estate Specific to Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Rental income	$ 717,309	$ 687,030	$ 1,422,397	$ 1,340,378
Property and maintenance expense	(124,771)	(116,355)	(262,350)	(241,229)
Real estate taxes and insurance expense	(103,080)	(101,850)	(209,749)	(202,538)
Operating income	218,461	309,934	516,049	459,672
Same Store, Non-same Store and Other
Segment Reporting Reconciling Item For Operating Profit Loss From Segment To Consolidated [Line Items]
Rental income	717,309	687,030	1,422,397	1,340,378
Property and maintenance expense	(124,771)	(116,355)	(262,350)	(241,229)
Real estate taxes and insurance expense	(103,080)	(101,850)	(209,749)	(202,538)
Total operating expenses	(227,851)	(218,205)	(472,099)	(443,767)
Operating income	$ 489,458	$ 468,825	$ 950,298	$ 896,611

Reportable Segments - NOI from

Reportable Segments - NOI from Our Rental Real Estate for Each Segment Specific to Continuing Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Rental income	$ 717,309	$ 687,030	$ 1,422,397	$ 1,340,378
Operating income	218,461	309,934	516,049	459,672
Total Assets	20,145,729		20,145,729		$ 20,218,262
Same Store
Segment Reporting Information [Line Items]
Rental income	697,444	661,374	1,375,078	1,281,947
Operating expenses	219,034	207,578	444,251	417,686
Operating income	478,410	453,796	930,827	864,261
Total Assets	18,091,614		18,091,614
Capital Expenditures			118,496
Non-same store/other
Segment Reporting Information [Line Items]
Rental income	19,865	25,656	47,319	58,431
Operating expenses	8,817	10,627	27,848	26,081
Operating income	11,048	15,029	19,471	32,350
Total Assets	2,054,115		2,054,115
Capital Expenditures			16,751
Same Store, Non-same Store and Other
Segment Reporting Information [Line Items]
Rental income	717,309	687,030	1,422,397	1,340,378
Operating expenses	227,851	218,205	472,099	443,767
Operating income	489,458	468,825	950,298	896,611
Total Assets	20,145,729		20,145,729
Capital Expenditures			135,247
Los Angeles | Same Store
Segment Reporting Information [Line Items]
Rental income	118,562	118,840	234,243	227,809
Operating expenses	35,795	33,060	73,597	67,243
Operating income	82,767	85,780	160,646	160,566
Total Assets	2,522,130		2,522,130
Capital Expenditures			23,582
Orange County | Same Store
Segment Reporting Information [Line Items]
Rental income	32,316	31,252	63,904	60,018
Operating expenses	7,186	6,482	14,372	13,013
Operating income	25,130	24,770	49,532	47,005
Total Assets	349,363		349,363
Capital Expenditures			4,230
San Diego | Same Store
Segment Reporting Information [Line Items]
Rental income	24,691	23,067	45,452	42,410
Operating expenses	5,747	5,220	10,348	9,605
Operating income	18,944	17,847	35,104	32,805
Total Assets	229,569		229,569
Capital Expenditures			7,907
Subtotal - Southern California | Same Store
Segment Reporting Information [Line Items]
Rental income	175,569	173,159	343,599	330,237
Operating expenses	48,728	44,762	98,317	89,861
Operating income	126,841	128,397	245,282	240,376
Total Assets	3,101,062		3,101,062
Capital Expenditures			35,719
San Francisco | Same Store
Segment Reporting Information [Line Items]
Rental income	108,641	105,403	216,121	206,019
Operating expenses	32,062	30,081	66,067	61,753
Operating income	76,579	75,322	150,054	144,266
Total Assets	3,023,790		3,023,790
Capital Expenditures			19,750
Washington D.C. | Same Store
Segment Reporting Information [Line Items]
Rental income	109,660	103,268	217,282	203,973
Operating expenses	34,807	34,311	71,075	68,523
Operating income	74,853	68,957	146,207	135,450
Total Assets	3,039,410		3,039,410
Capital Expenditures			23,142
New York | Same Store
Segment Reporting Information [Line Items]
Rental income	119,785	106,332	237,830	206,162
Operating expenses	48,088	46,067	97,859	93,941
Operating income	71,697	60,265	139,971	112,221
Total Assets	3,375,622		3,375,622
Capital Expenditures			10,072
Seattle | Same Store
Segment Reporting Information [Line Items]
Rental income	74,729	71,577	149,291	140,114
Operating expenses	21,246	20,269	41,726	40,195
Operating income	53,483	51,308	107,565	99,919
Total Assets	2,141,765		2,141,765
Capital Expenditures			14,237
Boston | Same Store
Segment Reporting Information [Line Items]
Rental income	72,469	67,117	143,127	131,779
Operating expenses	20,747	20,016	43,383	41,074
Operating income	51,722	47,101	99,744	90,705
Total Assets	1,773,166		1,773,166
Capital Expenditures			11,998
Denver | Same Store
Segment Reporting Information [Line Items]
Rental income	17,873	16,833	35,469	33,065
Operating expenses	5,010	4,697	10,500	9,331
Operating income	12,863	12,136	24,969	23,734
Total Assets	840,581		840,581
Capital Expenditures			1,773
Other Expansion Markets | Same Store
Segment Reporting Information [Line Items]
Rental income	18,718	17,685	32,359	30,598
Operating expenses	8,346	7,375	15,324	13,008
Operating income	10,372	10,310	17,035	17,590
Total Assets	796,218		796,218
Capital Expenditures			1,805
Non-same store | Non-same store/other
Segment Reporting Information [Line Items]
Rental income	19,664	14,848	44,677	33,690
Operating expenses	7,219	6,064	17,236	15,357
Operating income	12,445	8,784	27,441	18,333
Total Assets	1,321,994		1,321,994
Capital Expenditures			16,682
Other | Non-same store/other
Segment Reporting Information [Line Items]
Rental income	201	10,808	2,642	24,741
Operating expenses	1,598	4,563	10,612	10,724
Operating income	(1,397)	$ 6,245	(7,970)	$ 14,017
Total Assets	$ 732,121		732,121
Capital Expenditures			$ 69

Reportable Segments - NOI fro_2

Reportable Segments - NOI from Our Rental Real Estate for Each Segment Specific to Continuing Operations (Parenthetical) (Details) - Property	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting, Disclosure of Entity's Reportable Segments [Abstract]
Units in same store properties	77,545	77,545	76,952	76,952

Subsequent Events - Additional

Subsequent Events - Additional Information (Details) $ in Thousands		3 Months Ended	6 Months Ended
	Jul. 01, 2023 USD ($) ForwardStartingSwap	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Subsequent Event [Line Items]
Payments to acquired interest in consolidated operating property		$ 4,600
Repayment of debt			$ 54
Secured debt		1,913,069	$ 1,913,069	$ 1,953,438
Debt instrument, maturity date			Oct. 26, 2027
Cash [Member]
Subsequent Event [Line Items]
Payments to acquired interest in consolidated operating property		3,700
Preferred Stock [Member]
Subsequent Event [Line Items]
Payments to acquired interest in consolidated operating property		$ 900
Subsequent Events [Member]
Subsequent Event [Line Items]
Number of forward starting swaps to be settled | ForwardStartingSwap	9
Subsequent Events [Member] | Mortgages [Member]
Subsequent Event [Line Items]
Repayment of debt	$ 67,900
Subsequent Events [Member] | Locked Interest Rate Secured Notes [Member]
Subsequent Event [Line Items]
Secured debt	$ 530,000
Anticipated debt origination date	Sep. 30, 2023
Secured note, effective interest rate	4.70%
Amount received to settle forward starting swaps	$ 27,100