We are living through a moment in which the side hustle is immensely popular — indeed a quarter of Americans earn money via the gig economy. That could mean selling your goods on Etsy, being an Uber/Lyft/Juno driver, renting out your home, being a task rabbit. The options and opportunities are more or less endless.
Well Earnest, a loan provider in San Francisco, looked into sharing economy jobs, to see which were actually earning people a healthy side income. What the study showed, was that people who rent their homes on Airbnb are bringing in the most money. While 85% of gig economy workers make less than $500 per month, 50% of Airbnb hosts make over that average $500.
In fact, Airbnb hosts make an average of $924 monthly, which is nearly three times what other gig economy workers make. The thing to remember about Airbnb though, is that it generally favors those who already have a decent amount of money. In general, people who are Airbnb hosts have another place to stay, and the system favors those who live in trendy, more expensive neighborhoods.
According to the information from Earnest, these are the top five companies with which to earn your side hustle income. 1. Airbnb (where the average income is $924 monthly). 2. TaskRabbit (where the average income is $380). 3. Lyft (where the average income is $377). 4. Uber (where the average income is $3644). 5. Doordash (where the average income is $229).
You can read more about the study here.