Monday, May 27, 2024

What Are the Most Profitable Airbnb Cities for Hosts, Owners

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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.

Related: Airbnb Just Rolled Out Major Changes for Hosts and Guests, Plus New Tools for Groups: ‘It’s Going to Be a Big Win’

“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.

Related: Airbnb’s New ‘Icons’ Cost Less Than $100 Per Night, Including the House from ‘Up’ and Prince’s ‘Purple Rain’

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%



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