Total Operating Expenses
Equity Residential Total Operating Expenses increased by 1.3% to $566.18M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 0.1%, from $566.54M to $566.18M. Over 4 years (FY 2021 to FY 2025), Total Operating Expenses shows an upward trend with a 4.8% CAGR. This is a positive signal — lower values indicate better performance for this metric.
Analysis
How to read this metric
An increase faster than revenue growth suggests declining operating margins, while slower growth indicates effective cost control.
Detailed definition
Total operating expenses represent the sum of all costs incurred to operate the business, excluding the cost of goods so...
Peer comparison
Used to calculate operating margin; peers in the healthcare sector monitor this closely to manage profitability against R&D requirements.
total_operating_expensesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $444.95M | $465.58M | $471.04M | $503.51M | $484.99M | $477.64M | $457.32M | $507.71M | $498.76M | $498.94M | $490.50M | $520.43M | $508.61M | $525.09M | $554.28M | $566.54M | $542.81M | $555.86M | $558.99M | $566.18M |
| QoQ Change | — | +4.6% | +1.2% | +6.9% | -3.7% | -1.5% | -4.3% | +11.0% | -1.8% | +0.0% | -1.7% | +6.1% | -2.3% | +3.2% | +5.6% | +2.2% | -4.2% | +2.4% | +0.6% | +1.3% |
| YoY Change | — | — | — | — | +9.0% | +2.6% | -2.9% | +0.8% | +2.8% | +4.5% | +7.3% | +2.5% | +2.0% | +5.2% | +13.0% | +8.9% | +6.7% | +5.9% | +0.8% | -0.1% |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Same Store | $224.53M | $230.10M | $210.14M | $235.24M | $229.43M | $234.57M | $213.18M | $248.56M |
| Non Same Store And Other | $7.54M | $11.08M | — | — | — | — | — | — |
| Total | $508.61M | $525.09M | $554.28M | $566.54M | $542.81M | $555.86M | $558.99M | $566.18M |
Non Same Store And Other was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Geographic Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Los Angeles | $35.78M | $37.67M | $36.76M | $38.81M | $37.78M | $38.87M | $35.12M | $39.75M |
| San Francisco | $31.26M | $33.31M | $30.07M | $34.54M | $33.20M | $34.51M | $32.72M | $35.36M |
| Boston | $22.99M | $23.16M | $24.69M | $25.48M | $24.18M | $24.60M | $23.03M | $27.00M |
| Seattle | $22.01M | $21.91M | $16.65M | $20.51M | $19.91M | $20.28M | $15.58M | $19.98M |
| Non Same Store | $6.30M | $9.37M | $14.12M | $16.00M | $15.38M | $18.96M | $22.37M | $13.17M |
| Denver | $5.22M | $6.06M | $5.41M | $6.06M | $5.75M | $5.89M | $5.63M | $8.64M |
| Atlanta | — | — | — | — | — | — | — | $8.54M |
| Dallas Austin | — | — | — | — | — | — | — | $7.90M |
| Orange County | $6.94M | $7.25M | $7.10M | $7.26M | $6.96M | $7.49M | $7.06M | $7.35M |
| San Diego | $5.78M | $6.07M | $3.40M | $4.69M | $4.62M | $4.75M | $4.68M | $4.78M |
| Other Expansion Markets | $8.16M | $6.31M | $7.86M | $8.36M | $9.17M | $8.30M | $7.80M | — |
| Total | $508.61M | $525.09M | $554.28M | $566.54M | $542.81M | $555.86M | $558.99M | $566.18M |
Other Expansion Markets was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Total Operating Expenses at Other Companies
Frequently Asked Questions
- What is Equity Residential's total operating expenses?
- Equity Residential (EQR) reported total operating expenses of $566.18M in Q1 2026.
- How has Equity Residential's total operating expenses changed year-over-year?
- Equity Residential's total operating expenses decreased by 0.1% year-over-year, from $566.54M to $566.18M.
- What is the long-term trend for Equity Residential's total operating expenses?
- Over 4 years (2021 to 2025), Equity Residential's total operating expenses has grown at a 4.8% compound annual growth rate (CAGR), from $1.84B to $2.22B.
- What does total operating expenses mean?
- The total cost of running the business, including all non-production expenses.