Airbnb is changing the way people travel. Since their founding in 2008, they have exploded into a multi-billion dollar company that gives travelers more choices when it comes to lodging.
And the company isn’t only great for travelers, it’s also a great way to make a little extra cash when you’re not traveling (which can then help fund your next vacation!). But how much can you actually make? I’ll break it down for ya.
Airbnb as a side hustle
In short, you can make a lot (a.k.a. well into the thousands) of money by being a host. But how high the ceiling actually is depends a lot on where you live. It’s all about location. If you live in a big city or a hot spot for tourism, your ceiling will likely be higher than if you lived in some small town somewhere.
SmartAsset analyzed the the 15 biggest Airbnb markets in the United States and figured out that on average - a host makes over $20,619 when renting out a two bedroom apartment or a full house. Yes, over twenty grand.
Location is important, but not everything
As SmartAsset found out, location is extremely important. But don’t fool yourself into thinking you need to live in a place like New York, Chicago, or any of the other top 15 cities to make money.
For example, if you own a place in or near Napa Valley (where wine is king), it’s safe to say you’ll be able to make quite a bit of cash. Same goes for a place like Southwest Florida (Fort Myers, Cape Coral, Naples, Estero area).
I know this to be the case, because for the past year I’ve been an Airbnb host with my siblings, renting out our lake house in Michigan where we have made a comfortable amount of money. And we’re certainly not in a top 15 market for Airbnb. We were very busy during the late spring, summer, and early fall (and it’s looking like we will be again this year, so book now if you wanna stay!).
If you have extra space, whether it’s a house, apartment, one bedroom, or something in between, Airbnb can be a great side hustle.
Then, the money you make doing that can go into your vacation fund for an Airbnb stay (or hotel stay) somewhere else in the world. Because like I said before, Airbnb is changing the way folks travel, whether you're a host or not.
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