We often hear about people renting out a spare room on Airbnb to boost their income or cover their rent. But even if you aren't lucky enough to have a spare room – and obviously many of us aren't – there may come a time when you're away from your place long enough to consider renting out your room.
And let's be honest, it's also interesting to know how much our room could potentially be worth if we did decide to work remotely from a European city for a while or take an extended staycation somewhere in the UK. With working from home likely to remain the new normal for the foreseeable future, both options feel more within reach than ever before.
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According to new research by Vanquis, people in seven of the UK's biggest cities would find it more profitable to rent out a room on Airbnb than to let it out permanently on a 12-month basis.
Cardiff was named the best city in the UK to rent out a room on Airbnb. The research found that you could make £6,344 renting out a room in the Welsh capital on Airbnb for 52 nights a year – compared to just £3,408 if the room were let out traditionally on a 12-month basis. The Airbnb income is a huge 86% higher.
Rooms in Manchester, Newcastle, Bath, Belfast, Edinburgh and Brighton were also found to have more value on Airbnb than as a traditional 12-month letting.
In London, the average room would bring in £6,084 on Airbnb if it were hired out 52 nights a year, but that's 25% less than the £8,126 it would bring in through a traditional 12-month letting.
Meanwhile, a room in Manchester would have the highest annual Airbnb income: £7,124.00, which is a hefty 38% more than the £5,157 it would bring in through a traditional 12-month letting.
You can check out average Airbnb room incomes in 21 of the UK's biggest cities in the table below.