Since Airbnb launched, hosts have earned approximately $60 billion in the United States, with women ranking as the highest-rated hosts.
Are you one of the millions of women who lost or left their job during the pandemic and haven’t returned to the workplace? Are you a part of the ‘Great Resignation’ and want to become an entrepreneur? Are you looking to purchase a second home or a full-time rental property but haven’t decided on a location?
Well, Airbnb released a report that outlines exactly when and where becoming a host makes people the most money. With demand for home-like vacation accommodations rising, 2021 brought 6,000 new property hosts who had their first-ever Airbnb booking last year.
In the past 12 years, Airbnb hosts have earned $150 billion worldwide, with U.S. hosts earning a little less than half of the global total. Today’s typical Airbnb host in the U.S. earns $13,800, an increase of 85-percent over 2019.
It’s not just the veteran hosts who are making money. New U.S. Airbnb listings garnered $1.8 billion in rentals last year, up 34 percent from two years ago. New female hosts earned most of that money, making $1 billion in that same 12-month time period. Additionally, women receive a higher share of 5-star reviews and make up a majority of all Airbnb hosts both in the U.S and worldwide.
To maximize rental income, consider listing a property on Airbnb during peak travel periods. Even a couple of rentals a year, during these dates, allows property owners to take advantage of this growing side hustle. The top 2021 money-making periods were a mix of expected holidays with some surprises.
- Labor Day Weekend – U.S. Hosts earned more than $140 million on Saturday, Sept 4, 2021, making it the highest rental income period of the year.
- Memorial Day Weekend – On Saturday, May 29, 2021, U.S rentals totaled more than $126 million. After a long winter of quarantine measures and nationwide vaccine availability, many Americans went out of town.
- Fourth of July – U.S. Hosts earned more than $120 million during this popular summer break holiday.
- Thanksgiving – U.S. Hosts, earned more than $112 million on Thanksgiving night rentals. Top cities for Thanksgiving Airbnb rentals include Orlando’s Kissimmee, San Diego, The Smoky Mountains’ Sevierville, Los Angeles, New York City, and Austin.
- October – Illustrating that high travel demand is not always tied to a holiday, the first Saturday in October was the fifth highest-earning day of the year for U.S. Hosts totaling $109 million.
- August – Hosts earned more than $108 million on bookings during the first Monday of August. Driven by workcations and remote work policies, more families traveled during the week in 2022 and vacationed in destinations for longer trips.
- Christmas –Not surprisingly, bookings around Christmas continued to be popular in 2021. On Christmas Eve, hosts earned more than $107 million, and on the Monday after Christmas, hosts earned more than $104 million.
If you own a home in one of these states or are looking to make a real estate investment in a full-time rental property, these ten states were responsible for nearly 1.2 billion in Airbnb rentals by new hosts alone in 2021.
- California – $270 million
- Florida – $265 million
- Texas – $170 million
- New York – $115 million
- Georgia – $80 million
- North Carolina – $75 million
- Tennessee – $60 million
- Arizona – $60 million
- Colorado – $55 million
- Pennsylvania – $45 million
These top booking periods and destinations represent significant rental income opportunities for hosts. However, according to Airbnb, “there is increasingly an opportunity for hosts make money anytime and anywhere,” as millions of people are working remotely. Bookings 28 days or longer are on the rise, and people stayed in over 100,000 global destinations during the past two years from urban to rural towns.
This article was produced and syndicated by Wealth of Geeks.
Featured Image Credit: Airbnb.