NASHVILLE, Tenn., July 25, 2023 /PRNewswire/ — The latest study by Upgraded Points is exploring where rideshare drivers in the U.S. have the most earning power.
“This study was meant to highlight the landscape of rideshare earnings in the country,” said Alex Miller, Founder of Upgraded Points. “Whether you’re considering it as a full-time job or a side hustle, understanding the potential income is vital and our insights found that there’s more earning potential in certain parts of the country than others.”
Beginning with the average hourly wage for rideshare drivers, the study analyzed the earning potential in each state by factoring in the average number of trips and miles per trip to calculate earnings. Then, regular expenses were deducted like gas, oil changes, and tire rotations. The study finally compared earnings-per-mile to the income needed for a comfortable lifestyle within each state.
The final rankings also incorporated a variety of factors including the rideshare driver’s average hourly wage, gas costs, car insurance, car payments, population density, state size, and online rideshare interest.
Gauging the Journey: Highlights by State
- Tennessee rideshare drivers can earn their state’s living wage ($55,862) the fastest, by completing just 17.1 daily trips, or covering 92.1 daily miles. The Volunteer State ranked as the most lucrative state to be a rideshare driver.
- Next in line for earning potential is Rhode Island, with an average hourly rideshare wage of $18.71 and high population density (1,057.8 people per square mile).
- On the other end of the spectrum, drivers in Hawaii need to make a whopping 43.9 trips per day, or 236.8 miles, just to earn a comfortable living wage ($132,912).
- New York drivers must make 35.31 daily trips, or drive 190.69 miles, to afford the living wage in their state ($101,995).
- Florida’s rideshare drivers need 33.46 daily trips, covering 180.66 miles each day, to meet their living wage ($65,762).
Detours and Dead Ends: Some of the Least Promising States for Earnings
- Claiming the title as the least lucrative state to be a rideshare driver and scoring just 21.5 out of 100, drivers in New Mexico have an average hourly wage of $14.34.
- With a low population density (7.71 people per square mile), Montana is the second least lucrative state for rideshare drivers.
- In California, rideshare drivers have a net earning of $6.82 per trip, while also competing with rising gas prices ($4.82) and annual car insurance rates ($2,115).
To view the complete findings, including exact breakdowns and the amount of daily trips needed to earn a living wage in every state, please visit the complete study.
About Upgraded Points LLC
Headquartered in Austin, Texas, Upgraded Points is a travel company that helps to demystify the complex world of travel and credit cards. Launched in 2016 by Alex Miller, Upgraded Points uses targeted research efforts and in-depth studies to help travelers maximize their travel, points, and experiences. Learn more at: UpgradedPoints.com.
Alex Miller, Founder
SOURCE Upgraded Points