Side hustles are a great way to use your skills and passion in order to make more money. Side hustles are a great way to make money and build financial security.
The side hustle industry isn’t going away, with more and more people tapping into extra streams of income each year. It’s great news for people who want to supplement their income and take control of their finances.
We pulled together the top side hustle statistics to help you learn more about the industry, understand how and why people start side hustles, and see how much side hustlers actually earn. Over the past few years, side hustles have become more and more popular, providing an opportunity to make extra money and achieve financial freedom.
Top Side Hustle Statistics
Here are a few of the biggest statistics about side hustles that paint a picture of the state of the industry.
- A third of Americans have a side hustle. Most Americans have a side hustle to supplement their income.
- According to a report, at least 50% of young people have a side hustle. The popularity of side hustles has increased as they strive to achieve financial stability and independence.
- The average side hustle makes an extra $12,689 per year. You can use this to supplement your income or save for the future.
- Most side hustlers work 20 hours a week. There is a chance to make additional income through side hustles such as graphic design and writing.
- Gaining more personal freedom and earning extra cash are the biggest motivators for side hustlers. Being able to work on your own terms and knowing that you are in control of your own success can be incredibly rewarding.
More than one-third of Americans report having a side hustle in 2022.
40% of Americans have a side hustle, according to a recent survey. Out of 5 people, 2 are earning multiple streams of income. Having multiple streams of income can be beneficial.
34% of Americans plan to launch into a new side hustle in 2022, up significantly from previous years, according to the survey. Many Americans are able to supplement their income with side hustles.
Men are slightly more likely to have a side hustle than women.
Zapier’s study revealed that men are slightly more likely to participate in the side hustle industry than women, at 44%, compared to 37% of women.
Millennials and Gen Z are the most likely generations to have a side hustle.
Boomers and Gen X make up the majority of the current side hustle industry, according to a study by Zapier. The younger generations are more likely to start a side hustle. The opportunity for them to gain new skills, gain financial independence and create their own paths to success is provided by this.
More than 70% of Gen Z and more than 50% of Millennials plan to pursue a side hustle in the coming year according to Microsoft. The gig economy is indicative of a larger shift in the modern workforce.
Higher-income earners and more educated people are most likely to have a side hustle.
According to the Census Bureau, education and income are related to side hustles. Side hustles are a great option for people who want to supplement their income and build up career skills.
People who have a Less educated people are more likely to have a side hustle. Those with a higher education are more likely to make money off their side hustles.
The higher your income, the more likely you are to have a side hustle. Side hustles can be used to pay down debt, save for retirement, or just enjoy life a little more.
Provo, Utah has the highest percentage of side hustlers of any US city.
BackgroundChecks.org broke down the percentage of side hustlers in metropolitan areas using Census Bureau data. According to the report, nearly three out of every ten adults in metropolitan areas had a side hustle.
Here are the top 10 cities for side hustlers, based on that data:
|City||% of residents with a side hustle||Median income from side hustles|
|Salt LakeCity, UT||3.6%||$5,000|
|Portland, OR/Vancouver, WA||3.3%||$5,000|
Most people start a side hustle to create extra income and gain personal freedom.
A survey of full-time workers with side jobs was launched by Vistaprint. Half of full-time workers have at least one side gig to supplement their income, according to a survey. These were the top 3 biggest reasons cited for starting a side hustle:
- Earn additional cash (62%)
- Have more time to do what they love (41%)
- Pursue their passion (37%)
The main reason people started a side hustle was personal freedom, according to a survey by The Hustle. The majority of those surveyed stated that the flexible hours and control over their own destiny was a major factor in why they started a side hustle.
Around 1 in 3 side hustlers say inflation was a factor that led them to start a side gig.
29% of side hustlers factored inflation into their decision to start a side hustle, according to an Insuranks survey. This is important for those who rely on their side hustle to supplement their income, as inflation can have a significant impact on their financial health. Some people are considering starting a side hustle because of inflation. This could be a chance to increase their financial security.
Priorities have changed as a result of the COVID-19 pandemic.
There has been an increase in side hustles and drivers starting a side hustle track. The majority of side hustles are driven by the need to make extra income, while a small percentage are motivated by a passion or hobby, according to the Work Trend Index.
More than half of Microsoft’s survey respondents said they prioritize their families and personal well-being over work now. Policies that allow employees to better balance their work and home lives are needed by organizations.
The Gen Z respondents said they are willing to change jobs to get flexibility. The desire to have a better work-life balance is something that Generation Z values very much. More than half of Gen Z respondents said they were considering leaving their jobs in the next year, and 70% of them were looking to launch a side hustle. The job market is becoming more competitive for Gen Zers, and many of them are turning to side hustles as a way to supplement their income.
Research shows that having a side hustle helps, rather than hurts, job performance.
Side hustles get a bad rap in the corporate world, with companies frowning on or banning their employees from starting up a side business. Many companies are encouraging their employees to pursue side hustles.
But multiple studies, including this one in the Academy of Management Journal, suggest that having a side hustle empowers employees and strengthens their performance on the job in more cases than it causes conflict.
The majority of side hustlers say growing their business is their biggest challenge.
Side hustles have their own set of hurdles. Growth and marketing are the biggest challenge, followed by limited time and coming up with the right business ideas, according to The Hustle Survey respondents.
Here are the top 5 biggest side hustle challenges people reported facing:
In 2018, the US freelance market earned around $2.58 trillion.
The United States has a huge market for contractors. The US side hustle and gig market was worth an estimated $2.58 trillion. Over the next five years, it is projected to grow at a rate of 8%. The top 9 gig companies made $13.6 billion.
Most side hustlers devote 5-20 hours a week to their enterprise.
How much time do people put into their side jobs? It’s becoming more and more common for people to make a living from their side jobs, so taking the time to understand how much effort is required can be beneficial. According to The Hustle, 3 in 5 side hustlers spend 5 to 20 hours per week working on their side hustles. Some people get a full-time income from their side hustle.
59% of side hustlers work on their side ventures in the evenings when they get off work.
Most side hustlers like to work on their gig for 5 to 9 hours between the time they get off work and when they go to bed, according to a survey by Vistaprint. Side hustlers can balance their time between their day jobs and their passion projects with this convenient schedule. Half the people say they hustle on the weekends, and 27% get to work on their side before going to work. According to the majority of those surveyed, they find time for their side hustles no matter how busy their lives are.
In 2021, there were 34.1 million part-time independent workers.
34.1 million people did part-time independent work in 2021, up 39% from the year before, according to a data report from MBO Partners. An increasing trend towards flexible working arrangements is reflected in the growth of part-time independent work. Over half of those people are considered occasional independents. These people work in the gig economy.
27% of people have turned one of their hobbies into a side hustle.
27% of full-time Vistaprint workers say they have started a side hustle centered around their hobbies. Creative endeavors, such as writing, painting, and photography, are the majority of the side hustles started by the surveyed workers. More than half of them say they would like to turn their hobby into a side hustle, but haven’t taken the leap yet. Many people believe that they could make more money if they pursued their hobby as a side hustle.
3 in 20 side hustlers work in the online or social media industry, according to a survey. A lot of side hustlers are taking advantage of the digital revolution to make more money. Here are the top 5 most popular side hustles. Side hustles can be lucrative if you keep your day job.
|Industry||% of side hustlers|
|Online and social media||16.6%|
|Selling designs or crafts||7.8%|
63% of people who earn money in the Creator Economy are part-time independent creators.
The creator economy is a big part of the side hustle industry. Over half of people who earn money as content creators do it as a side hustle. Content creators are looking for ways to make their side hustle more profitable. These are the places where creators make the most money.
65% of side hustlers use automation to streamline their business.
Side hustlers are interested in automation. Side hustlers can maximize their earning potential by using automation. According to Zapier, two-thirds of people with a side hustle automate some of their business processes. They can save time and money by using this automation.
Half of the survey respondents said they automate at least half of their business. According to the majority of survey respondents, automation allowed them to free up time and resources and focus on higher value activities.
Online businesses are the highest-paying side hustle.
According to a survey by The Hustle, online businesses have the highest earning potential among hustlers who make at least $1,000 per month. Many entrepreneurs find success in more traditional methods such as selling products or offering services.
Here’s the list of the top highest-paying side hustles from the survey:
- Online businesses like blogging and affiliate marketing
- Investing in the stock market, crypto, real estate, etc.
- E-commerce stores through Amazon, Etsy, etc, or individual storefronts
- Local services like notary services or cleaning
- Youtube content creation
- Software or app development
- Gig economy jobs like Uber
Most side hustlers who earn $10,000 or more per month are investors.
The highest-earning side hustlers make at least some of their money investing according to the survey. Many investors use sophisticated strategies to maximize their returns, and they are likely to have a well-developed knowledge of financial markets.
46% of side hustlers earn at least $500 per month from their ventures.
According to a survey by Self, more than half of side hustlers earn less than $500 per month. Half of those surveyed said they made more than $500 per month. 18% of them said they earned $500-$1,000. More than half of the people surveyed said they make less than $1,000 per month.
Here’s a breakdown of how much people earn from their side hustles:
Side hustlers between the ages 55-64 outearn other age groups, making an average of $1,061 per month.
Based on Zippia’s side hustle survey, here’s the average monthly income of side hustlers by age group:
- 18-24 year-olds: $533
- 25-34 year-olds: $926
- 35-44 year-olds: $945
- 45-54 year-olds: $892
- 55-64 year-olds: $1,061
- 65-year-olds and older: $581
Gen Z makes less money than other age groups from their side hustles each month. It could be due to the fact that Gen Zers have less work experience and may not have had enough time to build up their side hustles.
Over one-third of all side hustlers spend their money as disposable income.
Wondering what side hustlers do with their money? Side hustlers often use their income to start a business or save for a future purchase. According to Zippia’s survey data, these are the top 3 ways side hustlers spend the money they earn from their ventures:
- Extra disposable income (35.4%)
- Living expenses (31.3%)
- Savings (28.1%)
The side hustle industry is booming as more and more people are starting to prioritize their well-being, pursue what interests them, and create independent sources of income.
Millions of Americans are turning their hobbies and interests into side hustles. It’s easy to connect with potential customers and build a successful side hustle with the rise of digital communication platforms. The data shows that you can start earning at any age, place, and industry. No matter how you choose to earn, the opportunities are vast and varied. In the years to come, it will be exciting to see how the industry continues to grow. There are so many possibilities for the future of this industry.
- 2022 Work Trend Index, Microsoft
- State of Independence Research Report, MBO Partners
- Side Hustle Report, Zapier
- Cities with Most Residents with Side Hustles, BackgroundCheck.org
- The Gigs and Side Hustles Economy: A Market Analysis, Marketdata
- 2022 Side Hustle Statistics and Survey Results, Side Hustle Nation
- Side Hustle Statistics, Zippia
- Side Hustle Study, Vistaprint
- American Side Hustle Stats, Insuranks