3 Passive Income Ideas To Make Money Online In 2024

Americans are being priced out of the housing market. Most young professionals are unable to afford their starter home, a recent Fortune study revealed, and when they finally move in, they are locked in and unable to move out into a bigger or better property.

The U.S. Bureau of Labor Statistics finally released fresh data on the median earnings of full-time salaried and hourly-paid workers in the United States, which showed that the average weekly salary is $1,165, or $60,580 a year. But to be able to even afford a starter median-priced house, one must earn at least $80,000 annually, to accommodate house costs and especially soaring interest rates.

This leaves most workers unable to afford to purchase their first (or next) home, and forced to seek assistance by either living with parents, sharing accommodation with friends or relatives, asking for financial support, or seeking alternative an financial buffer through side hustle ideas and passive income generation.

If you find yourself in a financial deficit and are concerned that regardless of how hard you work, you're still unable to make enough money to cover everyday living and housing expenses (plus extra for a rainy day), check out these three passive income ideas:

1. Rent A Space On Swimply

You've heard of Airbnb, but you might not be as familiar with Swimply. Swimply is an app that allows you to rent out the space on your property and make money while doing so.

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If you already own your first home and are looking for ways to earn extra to help you cover interest payments on your mortgage, or are hoping to save a little extra to move into a bigger property, you can start with where you are and make passive income through renting out spaces within your home, or the entire home as you would do on Airbnb. The spaces that Swimply prioritizes are swimming pools, and tennis, pickleball, and basketball courts/spaces.

2. Offer Services Via LinkedIn Services

Another fantastic way to build passive income is through adding a section to your LinkedIn profile, called 'Services," also known as the services marketplace. The LinkedIn Services feature enables professionals to connect through a common need or solution; if a business or individual needs a service, you offer the service and can receive enquiries and get paid for it.

While this is not entirely passive (to be honest, there is no such thing as fully passive income because there is always some level of marketing and proactiveness involved), it helps take away the stress from finding clients as people will find you recommended and suggested when searching for services such as graphic design, consulting, coaching, or writing services—or any other knowledge-based skill for that matter.

You can receive a large number of enquiries direct to your inbox and you can even direct them to your website, where everything should already be automated for them to book and pay you. For this to work, you will need to ensure that your profile is relevant, complete, and actively engaged in your industry.

3. Sell Stock Photos Online

If you're an avid photographer (even if not a pro) why not try turning your hobby or skill into an ongoing income generator and sell your royalty-free photos to stock photo sites? You might have some breath-taking imagery in your camera and not realize how much potential it has until you try to sell it. You can try sites such as Alamy, Shutterstock, Getty Images, iStock.com, or even try selling on Etsy.

You don't need to feel stuck. Right where you are, lie the tools and resources for you to dig yourself out of your financial rut and make money, from your skills, to the space within your home, to your camera and laptop.