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LA Airbnb hosts raking in big bucks
Running an AirBnb has never been more profitable and it turns out LA hosts are raking in big bucks as they continue to raise prices on those rentals.
LOS ANGELES - Running an Airbnb has apparently never been more profitable.
Los Angeles hosts are raking in the big bucks as they continue to raise prices on those rentals, the Los Angeles Times reports.
According to recent data, the average host earned nearly $18,000 in 2022. That's up $4,000 from the year before.
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Part of that reason is that hosts are charging more than they did before.
In 2019, the average cost to rent was $152 per day - this year, it's up to $244.
The other reason is there are fewer listings that are now available.
Back in 2019, there were nearly 17,000 listings in Los Angeles. Now, there's just over 7,000.