This is a guest post from RentCafe.com, a nationwide apartment search website.

America’s older population is growing at a very fast pace, and today’s demographics look substantially different than they did only a decade ago. In fact, U.S. Census data shows more than 22% of the current population is over the age of 60.

The overall aging of the population is not merely an outcome of the economic hardship following the 2007 Great Recession, reflected in declining birth rates, but also a result of the baby boom cohort, America’s largest living adult generation, passing age 53 in 2017. Advances in healthcare and technology have also helped to spur longevity.

For most people, our homes are our biggest tangible assets. So it seems like a no-brainer to put them to work and make a little money if we can. Airbnb is a big success story, but not everyone wants to rent out their homes for vacationers. Luckily, turning your house into a short-term vacation rental isn’t the only way to make money with your extra space—and we’ve got five creative ideas that prove it.

We are in the age of the Silver Wave, with 4 million Americans turning 65 every year and living longer than ever. These seniors (and those approaching senior status) are grappling with unprecedented housing questions: Should I stay in my house or sell it? Should I downsize? How can I age in place? Can I afford to stay in my home? Can I afford not to?

When I looked around me at age 60, I noticed many of my friends spending a tremendous number of hours taking care of their aging parents. The tasks they performed took months and those months often turned into years. They arranged drop-in caregivers, picked up prescriptions, took over management of their finances, helped sell their home, chauffeured them to doctor appointments, and in some cases, moved back into their childhood room to take on the role of live-in caregiver. 

My own parents both died rather suddenly when I was in my thirties, so I haven't had a personal experience of this parent-child reversal, but nevertheless it struck me profoundly. I turned to my husband and asked, “Who is going to do that for us?”