A new report authored for Airbnb by Gene Sperling, former Director of the National Economic Council under Presidents Clinton and Obama, highlights the increasing number of older Americans taking part in home sharing and how home sharing can help older Americans pay their bills and stay in their homes. Available here, “Home Sharing: A Powerful Option to Help Older Americans Stay in their Homes” outlines the positive impact 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.
Highlights from the report include:
- The typical Airbnb host over age 65 makes $8,350 annually. This supplemental income is equivalent to a 52- percent increase in Social Security income and could lower a typical host’s housing costs from 49 percent of gross income to a more affordable 26 percent, allowing hosts to “age in place” and stay in the homes they love.
- Adults over age 60 are the fastest-growing demographic within our host community, growing more than 40-fold in the last five years. Older women hosts in particular are growing the fastest, and are rated the best Airbnb hosts in the US with more than 63 percent of their trips earning a 5-star review from guests.
- 82 percent of older American hosts report that Airbnb has helped them stay more socially and emotionally connected, and 83 percent report that hosting on Airbnb has helped them stay more mentally engaged.
At Airbnb, we have seen the rapid embrace of home sharing by the older adult community. In the last year alone, the number of Airbnb hosts over the age of 60 has grown by more than 100 percent, far outpacing any other age demographic. We have seen that older adults are some of our best-reviewed hosts, and that they are also some of our most adventurous travelers. We have been excited to see so many older Americans discovering the social and financial benefits of home sharing, and welcome them to the Airbnb community.
Watch just a few of our older hosts speak about their hosting experiences: