Owners Earn Big Monthly Income on Airbnb

April 26, 2018

Property owners who offer short-term rentals on sites like Airbnb and Getaround have the most lucrative type of side gig today, with the majority earning an average income of $1,000 to $5,000 per month.

In March 2018, Dealspotr, a shopping and promotion-based social network, surveyed nearly 10,000 Americans across all age groups to learn about the state of the gig economy. About 500 people who responded said they have side gigs, which accounts for less than 6 percent of respondents.

But property sharing on online platforms came out on top as the biggest side gig moneymaker. What’s more, researchers found last year that Airbnb listings actually make areas more desirable, causing increases in local rents and home prices. And the trend will likely continue to grow in popularity, with survey respondents ages 55 and older saying they want to spend more time on side gigs in the next year.

But when it comes to overall income of those who said they participate in on-demand work through an app or platform, most aren’t making as much as property owners. About 30 percent of survey respondents who participate in the gig economy make less than $100 per month from their gig. Driving (such as Uber and Lyft) is the most popular side gig across all age groups.

Males are more likely than females to have a side gig. However, participating in the gig economy makes women and young people more happy than men or other age groups. Those working side gigs in property sharing and tasks (such as Airbnb, Getaround, TaskRabbit, or DogVacay) were least happy to take part in the gig economy, while those working freelance (via sites like Upwork, Fiverr, and Freelancer) were most happy. Side gigs and freelancing are the most common with people between the ages of 25 and 34, followed by the 18 to 24 age range. People ages 45 to 54 are less happy about participating.

Source: Gig Economy and On-Demand Work Survey, dealspotr.com