Airbnb's top average monthly income leads over several other sharing economy platforms like Lyft, Uber, Postmates, Etsy, Fiverr, and others.
That's according to a recent study by consumer lending firm Earnest, which says Airbnb is the place to earn a steady, supplemental income in the sharing or 'gig' economy. Among the key findings in the study, Airbnb hosts earned an average of $924 per month and $440 per month at a median per all hosts, per host.
The only sharing economy platform that comes the closest is TaskRabbit, a platform for odd jobs and services, at $380 per month as the average for workers who sell their labor and time through such means.
Overall, Airbnb hosts earn triple over other sharing economy workers with nearly half of all hosts earning over $500 per month. This is also a very large disparity with 85 percent of all sharing economy workers make less than $500 per month.
Drivers for Lyft and Uber only make a monthly income of around $364 to $377, on average. Delivery services like Postmates and Doordash only pay workers monthly wages, on average, of $174 to $229. The numbers only get worst for platforms like Fiverr and Getaround.
Earnest based its data on a variety of loan applications the firm received where workers noted that they help supplement their incomes from a slew of 'side-gig' platforms, including the ones analyzed in the study. Inc. noted that "it's possible that the workers in the study aren't making as much as other people--notably, [to] those who don't need loans...".
Ultimately, the platforms that people use to make a living based on a gig-economy really does matter then some may think.
Nevertheless, a study from the Pew Research Center from 2016 reports that 24 percent of Americans earn supplemental income from gig economy platforms. Fifty-six percent of that class works in sharing economy gigs because it is "essential or important" versus 42 percent who view the additional income as "nice to have."
Among those who said that these types of gigs are essential or important, 57 percent have annual household incomes under $30,000, 52 percent have high school degrees or less, while 36 percent are employed full time in addition.
Are you an Airbnb host? If so, how has being a host changed your financial life? Share your thoughts in the comments.
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