Lease income — operating leases
Equity Residential Lease income — operating leases decreased by 0.3% to $779.85M in Q1 2026 compared to the prior quarter. Year-over-year, this metric grew by 2.5%, from $760.81M to $779.85M. Over 4 years (FY 2021 to FY 2025), Lease income — operating leases shows an upward trend with a 5.9% CAGR. This decline may warrant attention — for this metric, higher values are generally preferred.
Analysis
How to read this metric
An increase signals higher utilization or expansion of the company's operating lease portfolio.
Detailed definition
Rental income generated from assets held under operating lease agreements. This represents the gross revenue stream from...
Peer comparison
Standard revenue metric for companies with significant leasing operations.
other_operating_lease_lease_incomeHistorical 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 | $598.06M | $623.21M | $645.13M | $653.35M | $687.03M | $695.10M | $1.06B | $705.09M | $717.31M | $724.07M | $727.50M | $730.82M | $734.16M | $748.35M | $766.78M | $760.81M | $768.83M | $782.41M | $781.91M | $779.85M |
| QoQ Change | — | +4.2% | +3.5% | +1.3% | +5.2% | +1.2% | +52.3% | -33.4% | +1.7% | +0.9% | +0.5% | +0.5% | +0.5% | +1.9% | +2.5% | -0.8% | +1.1% | +1.8% | -0.1% | -0.3% |
| YoY Change | — | — | — | — | +14.9% | +11.5% | +64.1% | +7.9% | +4.4% | +4.2% | -31.3% | +3.6% | +2.3% | +3.4% | +5.4% | +4.1% | +4.7% | +4.6% | +2.0% | +2.5% |
Product Breakdown
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Other Rental Income | $27.11M | $26.93M | $27.37M | $23.65M | $26.17M | $27.87M | $25.36M | $22.62M |
| Other Revenue | $16.07M | $16.09M | $15.85M | $12.98M | $15.29M | $17.29M | $14.24M | $11.97M |
| Parking Revenue | $11.04M | $10.84M | $11.53M | $10.67M | $10.88M | $10.58M | $11.13M | $10.64M |
| Total | $734.16M | $748.35M | $766.78M | $760.81M | $768.83M | $782.41M | $781.91M | $779.85M |
Business Segments
| Segment | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 |
|---|---|---|---|---|---|---|---|---|
| Same Store | $707.75M | $706.14M | $658.92M | $730.63M | $727.04M | $727.56M | $676.75M | $746.48M |
| Non Same Store And Other | $15.99M | $26.04M | — | — | — | — | — | — |
| Total | $734.16M | $748.35M | $766.78M | $760.81M | $768.83M | $782.41M | $781.91M | $779.85M |
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 |
|---|---|---|---|---|---|---|---|---|
| Southern California | $172.04M | $172.50M | $162.57M | $171.46M | $174.80M | $176.11M | $166.26M | $173.33M |
| San Francisco | $109.55M | $109.81M | $108.68M | $113.00M | $114.50M | $116.27M | $115.12M | $120.15M |
| Los Angeles | $120.12M | $120.21M | $110.25M | $118.51M | $121.55M | $122.41M | $112.40M | $119.45M |
| Boston | $82.08M | $79.87M | $76.18M | $79.72M | $82.92M | $80.42M | $76.45M | $81.08M |
| Seattle | $68.43M | $68.52M | $56.38M | $66.25M | $69.77M | $70.74M | $58.29M | $67.05M |
| Orange County | $31.17M | $31.49M | $31.45M | $31.85M | $31.96M | $32.22M | $32.43M | $32.51M |
| Non Same Store | $4.92M | $17.29M | $41.78M | $10.46M | $40.93M | $51.87M | $61.59M | $32.00M |
| Denver | $19.94M | $19.65M | $19.49M | $27.13M | $19.20M | $18.88M | $18.42M | $25.70M |
| Atlanta | — | — | — | — | — | — | — | $23.76M |
| San Diego | $20.75M | $20.80M | $20.87M | $21.11M | $21.29M | $21.48M | $21.43M | $21.38M |
| Dallas Austin | — | — | — | — | — | — | — | $18.63M |
| Other Expansion Markets | $22.27M | $21.99M | $19.70M | $19.84M | $21.41M | $21.20M | $19.28M | — |
| Total | $734.16M | $748.35M | $766.78M | $760.81M | $768.83M | $782.41M | $781.91M | $779.85M |
Other Expansion Markets was previously reported and has since been discontinued or reclassified. Only currently active segments are shown in the chart.
Lease income — operating leases at Other Companies
Frequently Asked Questions
- What is Equity Residential's lease income — operating leases?
- Equity Residential (EQR) reported lease income — operating leases of $779.85M in Q1 2026.
- How has Equity Residential's lease income — operating leases changed year-over-year?
- Equity Residential's lease income — operating leases increased by 2.5% year-over-year, from $760.81M to $779.85M.
- What is the long-term trend for Equity Residential's lease income — operating leases?
- Over 4 years (2021 to 2025), Equity Residential's lease income — operating leases has grown at a 5.9% compound annual growth rate (CAGR), from $2.46B to $3.09B.
- What does lease income — operating leases mean?
- Revenue earned from renting out assets under operating leases.