In November 2016, Airbnb released a report that highlighted the increasing number of older Americans that take part in home sharing. The report, “Home Sharing: A Powerful Option to Help Older Americans Stay in their Homes,” outlines the positive impact that this new income can have on older adults’ finances and well-being, as well as home sharing’s potential as a housing solution for the nearly one-in-five Americans who are retired.
The report noted that Airbnb has seen a rapid embrace of home sharing by the older adult community. Additionally, older adults are some of the best-reviewed hosts, and they are also some of our most adventurous travellers.
These trends hold true in Vancouver, where senior hosts are the fastest-growing age bracket and have the highest typical annual host income compared to other host brackets.Here are some stats on our Vancouver senior hosts:
- Vancouver’s senior hosts are the fastest-growing group among all hosts in the city, with an almost 40 per cent increase over the last twelve months.
- The typical senior host makes about $12,000 annually or around $1,000/month. This is almost double the basic Old Age Security pension ($570.52) and almost double the maximum Canadian Pension Plan payment amount of $685.11. It’s also double the annual earnings of a typical Airbnb host in Vancouver ($6,600).
- Over the last twelve months, the typical nights hosted by a senior host was 62, or about two months of the year.
- There are more female senior hosts than male senior hosts (64 per cent versus 36 per cent).
- Senior hosts in Vancouver also have the highest percentage of reviews that received 5 stars (81 per cent) compared to other host age brackets.
Airbnb can help support Canadians retiring by supplementing their fixed income in increasingly expensive cities. We have been excited to see so many older Vancouverites discovering the social and financial benefits of home sharing, and welcome them to the Airbnb community.