District of Columbia residents ages 60 and up continue using home sharing as a way to safely age in place, support their retirement, make improvements to their home, and cover medical bills. In a new report, Airbnb found that these seniors and hosts made $5.5 million in 2017 by sharing their homes with business travelers, families and more — a 50 percent growth in their Airbnb income from 2016.
Recent research from the aging community also shows that “home sharing provides an alternative to senior living, whose costs can range from $2,500 a month in an independent community to over $100,000 a year in a skilled nursing facility.”
“D.C. hotels are very pricey and most of my business guests have very little or zero per diem to cover their meals,” said Mary, an Airbnb host in Ward 6 and longtime District resident in her 60s. ”Being able to provide them with a nice, affordable place to stay while also making money to support my home, health, and family is very empowering.”
Previous Airbnb analysis has found this demographic to be among the most popular and fastest growing within Airbnb’s community of home sharers in the nation’s capital and its surrounding cities. The total number of District of Columbia seniors who host via Airbnb increased by 62 percent over the last year.
This new report highlights how senior residents in every corner and ward of the District continue to receive an economic boost thanks to home sharing, provide travelers with more reasonably-priced accommodations, and create more foot traffic for small businesses in their neighborhood.
Key findings from this review include:
- During 2017, District residents ages 60 and up earned $5.5 million sharing their homes via Airbnb — an increase of 50 percent from 2016.
- The typical senior Airbnb host made $10,600 renting their home to D.C. travelers.
- Approximately 360 of Airbnb hosts in D.C. are seniors — representing a jump of 62 percent from 2016.
- Ward 4 (61 percent) and Ward 6 (52 percent) have the largest percentage of senior women who are Airbnb hosts.
- Senior hosts in Ward 2 and Ward 6 earned the highest income, with respective totals of $1.8 million and $1.5 million.