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How much Airbnb hosts actually make, from 196 underwritten properties

Median projected gross revenue across VaultSTR’s 196 underwritten STR deals: about $60,000, with a $50K–$78K middle band and a $25K–$215K full range. What drives the spread — and net.

The short version

Across 196 properties our deal desk underwrote in 2026: median projected gross revenue ≈ $60,300; middle half $50,200–$78,000; full range $25,000–$215,000. Gross is not net — expenses and debt service decide whether any of it survives.

By the VaultSTR editors · Last updated August 18, 2026

Median projected gross revenue across VaultSTR’s 196 underwritten STR deals: about $60,000, with a $50K–$78K middle band and a $25K–$215K full range. What drives the spread — and net.

01

The real numbers

Skip the survey data — here is our own desk’s. Across the 196 active short-term rental listings VaultSTR has underwritten and published in 2026, projected gross annual revenue runs: median about $60,300, middle half between $50,200 and $78,000, full range $25,000 to $215,000. These are underwritten projections built from market comps and seasonality — the number a disciplined buyer uses, not a platform’s marketing average.

Every one of those properties, with its numbers, is public in the deal vault.

02

Why the range is 9x

Purchase price and market do most of it: a $250,000 Midwest cabin and a $1.4M beach compound occupy different revenue universes. Bedrooms scale revenue sub-linearly; amenities (hot tub, pool, view) move ADR more than size does past four bedrooms; and market seasonality caps the nights available to sell. The same house moved 40 miles across a market line can lose a third of its revenue — which is why we underwrite address by address in each market.

03

Gross is not take-home

From gross, subtract: OTA fees (3–16% depending on structure), management (15–25% if outsourced), cleaning not fully passed through, utilities, supplies, software, insurance, lodging taxes, maintenance, and capital reserves. Operating expenses typically absorb 35–50% of gross before debt service. A $60,000-gross property with a mortgage commonly nets $5,000–$15,000 in actual cash flow — and our published deals include plenty where the honest number is thinner. That is the point of underwriting before buying.

04

The number that matters more

Cash-on-cash return — annual cash flow over cash invested — is the figure that compares an STR against any other use of the same money. Across our active inventory it clusters in the low single digits at asking price with conservative assumptions, which tells you two true things at once: paying list for an average property is not a get-rich plan, and the deals that clear 6%+ are findable but rare. The math is worked through in the cash-on-cash guide.

05

What lifts a property into the top band

From the deals that clear our “strong” verdict: bought below ask or off-market; three-plus bedrooms in drive-to leisure markets; amenity stack matched to the market (hot tub in mountains, pool in heat); self-management in year one; dynamic pricing actually configured. None of it is exotic — all of it compounds. The same property run passively at static prices and run actively with real tooling can differ by 25% of revenue.

06

What to tell your client

“The honest median is around $60,000 gross for the kind of property you are looking at — and gross is the start of the conversation, not the end. Here is the pro forma for this specific address: revenue from comps, every expense line, debt service, and the cash-on-cash at your down payment. If it does not pencil, I will show you that too.” Then run it: the builder is free.

07

How much hosts make: FAQ

What does the average Airbnb host make per month?
From our underwritten inventory, roughly $5,000/month gross at the median — before expenses and mortgage. Net commonly lands at $400–$1,250/month for financed properties.
Is $100K/year realistic?
Yes, in the top revenue band: larger homes, strong leisure markets, real amenity stacks. About a quarter of our underwritten deals project above $78,000 gross; the ones above $100K skew 4+ bedrooms.
Do these numbers include expenses?
No — they are gross revenue projections. Expenses and debt service typically consume 60–90% of gross on financed properties. Every published deal shows the full walk to cash flow.
Where does the data come from?
VaultSTR’s deal desk: 196 active properties underwritten with one consistent model from market comps, published daily with the assumptions visible, per our methodology.
How do I estimate a specific address?
Run it through the free revenue calculator — it pulls comp-based ADR and occupancy for the address — then stress-test the result in the pro forma builder before offering.

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