How to choose a hotel room for your next big adventure
In 2019, the average age of a first-time Airbnb host is 36, compared with 24 in 2017.
This means there are now roughly 2.7 million people aged 18 to 34 living in Airbnb-like homes, up from just 1.2 million in 2016.
“The housing boom has led to a big increase in the number of Airbnb hosts, but they’re also driving a lot of the Airbnb boom in the younger demographic,” says Andrew Leavitt, CEO of Leavivant, a Calgary-based real estate agency that has been tracking the trends in hotel rooms.
“And that’s where Airbnb’s been really helpful.”
Leavit has noticed a rise in older people who want to rent out their properties.
“When I look at older people, I see a lot more people who are younger than 40, and the majority of Airbnb hostages are millennials,” he says.
“So it’s interesting to me that the number one thing that’s driving this Airbnb boom is a surge in millennials.”
LeAVIT says this is a good sign for the industry, as millennials increasingly want to live together.
But there are some downsides to the Airbnb phenomenon.
“It has the potential to be quite harmful to the economy, if people don’t have a job or aren’t able to get a job,” says Leavigt.
The housing boom also has led more people to move into the city, which could be an economic driver for the province, he adds.
“There are more and more young people moving to cities and they’re driving up house prices,” he said.
The big question for Leavits group is whether this trend is sustainable.
“We don’t know how long it will last, but the trend is not going away,” he adds, noting the city’s population will double by 2034.
With files from CTV Calgary’s Katie Rees.