• Equity Lifestyle Properties average gross margin for 2023 was 50.36%, a 15.45% increase from 2022.
• Equity Lifestyle Properties average gross margin for 2022 was 43.62%, a 10.63% increase from 2021.
• Equity Lifestyle Properties average gross margin for 2021 was 48.81%, a 6.55% decline from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.