BXP · 10-Q · 2026Q2 · Full report
Residential Rental Demand
BXP, Inc. · 2026-08-06 · Importance 30 · Surprise 40 · No source text
BXP’s residential same-property portfolio in San Francisco showed stronger rental demand in the second quarter of 2026. Average monthly rental rates increased 9.1% to $3,270, while average rental rate per occupied square foot rose 9.6% to $4.12. Average physical occupancy increased to 92.1% from 89.6%, and average economic occupancy rose to 91.9% from 87.9%. Residential same-property net operating income increased by approximately $1.1 million year over year.
Key facts
- Residential same property net operating income increased by approximately $1.552 million (Residential NOI for three months ended June 30, 2026 was $1,677 thousand vs $1,125 thousand in 2025) — Residential Revenue $3,683 and $12,532 less Residential Expenses $2,006 and $6,578 for 2026 and 2025 respectively. source
- Residential net operating income for the six months ended June 30, 2026 was $3,599 thousand compared to $1,915 thousand in 2025 (increase of $1,684 thousand, 87.94%). source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -0.5% | Residential same property net operating income increased by approximately $1.552 million (Residential NOI for three months ended June 30,… |
| operating_income | positive | realized | +0.2% | Residential net operating income for the six months ended June 30, 2026 was $3,599 thousand compared to $1,915 thousand in 2025 (increase… |