If you’ve been itching to make some extra cash outside of your regular 9 to 5, then you may have already considered signing up with Uber, Airbnb or TaskRabbit. Companies like these have made it easier than ever to make a quick buck on your own time.
But how much extra dough can you really make through these sites and apps?
Online lender Earnest decided to crunch some numbers to find out. They looked at anonymous data from tens of thousands of loan applicants to see how much people reported earning through nine popular side hustles. Apparently Airbnb rentals rake in the most dough, earning their hosts an average monthly income of $924 and a median monthly income of $440. (Letting a stranger stay at your pad for the weekend sounds a lot more appealing now, right?)
Not all side gigs are as profitable, though — in fact, Airbnb renters were found to make nearly three times as much as workers in other services. See how the gigs stacked up according to their average and median monthly incomes:
1. Airbnb: $924/$440
2. TaskRabbit: $380/$110
3. Lyft: $377/$210
4. Uber: $364/$155
5. Doordash: $229/$100
6. Postmates: $174/$70
7. Etsy: $151/$40
8. Fiverr: $103/$60
9. Getaround: $98/$70
Though most of the people in the survey likely use these side-gig platforms for flexible part-time work rather than look to them as full-time careers, there are a small percentage who seem to make a decent living: 10% of Airbnb hosts said they made $2,000 or more per month, while 12% of TaskRabbit users managed to earn $1,000 or more a month.
If driving around strangers or selling crafts online isn’t exactly your cup of tea, there are other side gigs available to help you afford all the summer fun ahead. It might also be worth your time to check out this new website designed specifically for freelancers. Happy hunting!