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Equity Residential Business Segments

Business, geographic, and product segment breakdowns

Equity Residential generates $3.1B in annual revenue across 4 key segments: Other Lease Revenue ($15.5M), Parking ($49.1M), Residential And Non Residential Rent ($2.8B), and Utility Recoveries ($106.7M). Based on the Q1 2026 filing.

Other Lease Revenue (TTM)$15.5MParking (TTM)$49.1MResidential And Non Residential Rent (TTM)$2.8BUtility Recoveries (TTM)$106.7M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$25.0B
P/E Ratio26.19
ROE8.78%

Products & Services

Operating Lease Lease Income Loss

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Residential And Non Residential Rent$702M$697.1M$702.3M$712.5M$713.2M$712M
Utility Recoveries$25.5M$25.5M$25.9M$26M$27.8M$27M
Parking$12.4M$12.3M$12.4M$12.2M$12.4M$12.1M
Other Lease Revenue-$420K$2.3M$2.3M$3.9M$3.2M$6.2M

Operating Lease Lease Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Other Rental Income$27.4M$23.7M$26.2M$27.9M$25.4M$22.6M
Other Revenue$15.8M$13M$15.3M$17.3M$14.2M$12M
Parking Revenue$11.5M$10.7M$10.9M$10.6M$11.1M$10.6M

Geographic

Net Operating Income Loss From Rental Real Estate

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same And Non-Same Store$480.2M$496.3M$523.2M$525.9M$502.8M$516.8M
Southern California$117.5M$121.6M$125.4M$125M$119.4M$121.4M
San Francisco$76.9M$78.2M$81.3M$81.8M$82.4M$84.8M
Los Angeles$76.7M$80.6M$83.8M$83.5M$77.3M$79.7M
Boston$54.4M$54.6M$58.7M$55.8M$53.4M$54.1M
Seattle$41.2M$47.5M$49.9M$50.5M$42.7M$47.1M
Orange County$24.4M$24.6M$25M$24.7M$25.4M$25.2M
Non Same Store$28.3M$5.3M$25.6M$32.9M$39.2M$18.8M
Denver$13.6M$18.7M$13.4M$13M$12.8M$17.1M
San Diego$16.4M$16.4M$16.7M$16.7M$16.7M$16.6M
Atlanta—$16.5M———$15.2M
Dallas Austin—$10.7M———$10.7M

Operating Expenses

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same And Non-Same Store$220.5M$244.8M$244.8M$253.5M$235.5M$261.7M
Southern California$45M$49.9M$49.4M$51.1M$46.9M$51.9M
Los Angeles$33.5M$38M$37.8M$38.9M$35.1M$39.8M
San Francisco$31.8M$34.8M$33.2M$34.5M$32.7M$35.4M
Boston$21.8M$25.2M$24.2M$24.6M$23M$27M
Seattle$15.2M$18.8M$19.9M$20.3M$15.6M$20M
Non Same Store$13.4M$5.2M$15.4M$19M$22.4M$13.2M
Denver$5.8M$8.5M$5.8M$5.9M$5.6M$8.6M
Atlanta—$8M———$8.5M
Dallas Austin—$8.2M———$7.9M
Orange County$7.1M$7.2M$7M$7.5M$7.1M$7.4M
San Diego$4.4M$4.7M$4.6M$4.7M$4.7M$4.8M

Operating Lease Lease Income

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Same And Non-Same Store$700.7M$741.1M$768M$779.4M$738.3M$778.5M
Southern California$162.6M$171.5M$174.8M$176.1M$166.3M$173.3M
San Francisco$108.7M$113M$114.5M$116.3M$115.1M$120.1M
Los Angeles$110.2M$118.5M$121.5M$122.4M$112.4M$119.5M
Boston$76.2M$79.7M$82.9M$80.4M$76.4M$81.1M
Seattle$56.4M$66.2M$69.8M$70.7M$58.3M$67.1M
Orange County$31.5M$31.8M$32M$32.2M$32.4M$32.5M
Non Same Store$41.8M$10.5M$40.9M$51.9M$61.6M$32M
Denver$19.5M$27.1M$19.2M$18.9M$18.4M$25.7M
Atlanta—$24.5M———$23.8M
San Diego$20.9M$21.1M$21.3M$21.5M$21.4M$21.4M
Dallas Austin—$18.9M———$18.6M

Total Assets

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Same Store$2.4B$2.3B$2.9B$3B$3.1B$1.5B

Payments To Proceeds From Acquire Other Property Plant And Equipment

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Non Same Store$5.6M$7M$8.3M$16.9M$16.4M$6.3M

Business Segments

MetricQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Total Assets$17.3B$17.6B$17.4B$17.2B$16.8B$18.1B
Operating Lease Lease Income$658.9M$730.6M$727M$727.6M$676.7M$746.5M
Net Operating Income Loss From Rental Real Estate$451.8M$491M$497.6M$493M$463.6M$497.9M
Operating Expenses$207.1M$239.6M$229.4M$234.6M$213.2M$248.6M
Payments To Proceeds From Acquire Other Property Plant And Equipment$56.1M$54.9M$73.6M$80.9M$80.4M$55.6M
Number Of Reportable Segments0.251.00———1.00