Today, a team from Airbnb traveled to the White House to celebrate the Opportunity Project, an initiative to put data and digital tools in the hands of families, communities, and local leaders, to help them navigate information about the resources they need to thrive.
At the event, the Airbnb launched the new Housing Opportunity Calculator. With this new tool, anyone in the US can see how much of their rent could be covered in various zip codes by renting out a private room on Airbnb.
The Housing Opportunity Calculator was our response to the White House’s call to action to the public, and to tech companies like Airbnb, to develop new tools, offer additional resources, and deepen community engagement through the use of the data. For Airbnb, this was the perfect opportunity to use federal data about rents and information about our community to tell people how Airbnb can make housing more affordable for families.
Airbnb has long helped regular people turn typically their largest expense — their homes — into an opportunity to earn extra income to help make ends meet. The money families earn on Airbnb can be the difference in being able to afford rent – or not. Our data has shown that Airbnb can be an economic lifeline for these middle-class households:
- Nearly 13% of hosts from ten of the largest cities in the U.S. report that their income from hosting has helped them avoid eviction or foreclosure. That represents over 16,000 hosts in these cities.
- Almost half of all Airbnb hosts makes less than $75,000 a year. The typical single property host rents their listing an average of 66 days per year.
- A typical Airbnb host earns an additional $7,350/year, the equivalent of a 14% annual raise.
- Half of Airbnb hosts say their hosting income has helped them afford to stay in their homes. More than half say they use their added Airbnb income as extra money to make ends meet.
For many families, Airbnb offers an important opportunity to earn income by sharing space in your home – while connecting with other people, and maintaining the flexibility to use the space when you need it yourself. We look forward to partnering with community leaders and governments to ensure more families can benefit from home sharing.