Airbnb hosts use platform revenue to pay for food, rent and mortgages – but three US states are more lucrative than others
With prices rising everywhere, Airbnb ABNB,
hosts report that their hosting money has become essential money.
More than a third of Airbnb hosts globally said hosting has helped them cover the rising cost of living.
The accommodation rental company launched its annual survey this week which examines how users interact with the platform. This year, the survey focuses on global inflation and asks how it affects hosts and guests to use the platform.
While more than 40% of hosts say income earned through the platform is for additional spending, a similar percentage say they depend on that money to make ends meet. As groceries have become more expensive, nearly half of hosts globally said they use income to buy basic necessities such as food.
According to the Food and Agriculture Organization of the United Nations, the FAO Food Index – an index that tracks monthly movements in international prices – increased by almost 30% in April compared to a year ago.
“Nearly 45% of respondents say guest money has kept them in their home over the past year, helping with their rent or mortgage payments. ”
Nearly 45% of respondents say the money has allowed them to stay in their home, helping with their rent or mortgage payments.
The company reports that hosts are making more money as people show greater willingness to travel – a typical host in the US earned a median accommodation income of $13,800 in 2021, up 85% since 2019.
California, Florida and Texas are the top three states – and three of the hottest real estate markets in the country – where new hosts in the US earn the mostgrossing $270 million, $265 million, and $170 million, respectively, last year.
The vacation rental company reported a strong first quarter earlier this year. With a banner year in 2021, the company said its performance showed full recovery from the impact of COVID-19.
On the company’s earnings call, Airbnb chief executive Brian Chesky said, “People are also more confident booking trips further in advance, and we’re seeing strong demand for summer bookings and beyond.”