Rideshare apps connect drivers with riders, with Uber being notably popular among both. In 2023, Uber pays $20-$25 per hour for UberX rides, while an UberX driver can still earn a solid income. UberEats averages $21 per hour. Lyft drivers earn about $2 more per hour than Uber, but their monthly earnings are almost equal. In fact, in 2021, Uber drivers made $22.49/hour and Lyft drivers made $22.16/hour. Regarding payment per trip, Uber drivers made $14.28 per trip compared to Lyft drivers, who made $12.95 per trip. Pay typically peaks in April, where Uber hit $25.96/hour, and Lyft reached $24.30/hour.
Rideshare apps not only help cut pollution and traffic but also provide affordable rides and tackle unemployment. The market is projected to skyrocket from $61.3 billion in 2018 to $218 billion by 2025. In the U.S., Uber and Lyft are the main competitors, whereas overseas, Grab dominates Southeast Asia by also offering food delivery and financial services. Valued at over $10 billion, Grab has overtaken Uber in that region. Lyft operates like Uber, covering over 600 U.S. cities. Unfortunately, the current shortage of drivers has led to an increase in ride costs, seeing prices surge by 92% from 2018 to 2021.
Regarding which rideshare app pays the most, Lyft typically pays about $2 more per hour than Uber. However, Uber compensates this by paying more per trip. Despite the differences, monthly earnings for drivers of both platforms are almost on par, highlighting that there’s not a significant difference overall in what drivers might earn from either platform.