In some cities, Airbnb listings make more than the average weekly wage — in one night.
Using data from Airbnb and the U.S. Bureau of Labor Statistics, the financial site Wealth of Geeks compared average weekly salary data to the average cost per night of a short-term Airbnb rental and found the 10 top cities where renting out an Airbnb could earn a host the most — and in some cases, more than half the salary they would have made in a week.
“The ability for residents to earn over half their weekly salary from renting out a property for a single night is impressive, not to mention, an extremely convenient way to earn extra income – it’s much easier than time-consuming second jobs or side hustles,” Michael Dinich, founder of Wealth of Geeks stated.
Arizona has seven spots in the top 10, including No. 1 and No. 2.
Airbnb, meanwhile, has recently updated its platform with more experiences for guests and introduced the option to stay at “Icons” houses around the world, from the house in the movie “Up” to Prince’s “Purple Rain” home.
Airbnb also recently released new tools for hosts, like group messaging.
Here are the most profitable cities in the U.S. for Airbnb hosts, based on Airbnb income as a percentage of the average weekly wage.
1. Scottsdale, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $449
Airbnb income as a percentage of the average weekly wage: 55.9%
2. (tied) Tempe, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $402
Airbnb income as a percentage of the average weekly wage: 50%
2. (tied) Charlestown, South Carolina
Average weekly salary: $690
Average Airbnb cost per night: $345
Airbnb income as a percentage of the average weekly wage: 50%
3. Phoenix, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $385
Airbnb income as a percentage of the average weekly wage: 47.9%
4. Las Vegas, Nevada
Average weekly salary: $724
Average Airbnb cost per night: $312
Airbnb income as a percentage of the average weekly wage: 43.1%
5. Glendale, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $344
Airbnb income as a percentage of the average weekly wage: 42.8%
6. Gilbert, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $329
Airbnb income as a percentage of the average weekly wage: 40.9%
7. Chandler, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $322
Airbnb income as a percentage of the average weekly wage: 40%
8. Virginia Beach, Virginia
Average weekly salary: $857
Average Airbnb cost per night: $332
Airbnb income as a percentage of the average weekly wage: 38.7%
9. North Charleston, South Carolina
Average weekly salary: $690
Average Airbnb cost per night: $254
Airbnb income as a percentage of the average weekly wage: 36.7%
10. Mesa, Arizona
Average weekly salary: $804
Average Airbnb cost per night: $292
Airbnb income as a percentage of the average weekly wage: 36.3%
Source link
