You've probably grappled with this question when you've travelled, and the answer is yes, renting a room or an apartment on Airbnb is going to be cheaper most of the time. But what does that savings look like? Priceonomics has broken the data extensively.
Renting an entire apartment? You'll save, on average 21.2 per cent. Renting a room? Holy crap, you'll save almost 50 per cent. You can see the data by hovering your mouse over dozens of US cities from Dallas to Denver on Priceonomic's interactive map. But Priceonomics goes even further with its assessment, indexing the average price of staying in hotels in different cities (New York is the most expensive) and the average price of staying in Airbnb in various destinations (Boston is the most costly). Priceonomics even delves into of the cost of staying in different neighborhoods. In New York, for example, it's much more affordable to stay on the Upper West Side than it is to stay in Times Square.
Priceonomics has also provided graphs that let you select a specific city to see the price of a hotel versus the price of an Airbnb apartment or an Airbnb room. This is a wonderful tool! And it's one you'll definitely want to use next time you're booking a trip.