Airbnb is a similar concept to staying with friends and family except you are staying with strangers. You can often get the whole place to yourself which is a huge plus. Prices are economical especially if you look hard enough. I recently stayed in a lofted apartment in Austin Texas, 2 miles from downtown, with free parking, for $50/night. Since this was split between two people, it was right at my $25/night budget and extremely private and convenient. I have rented shared spaces for even less.
There are basically 3 types of Airbnb options, shared spaces, private rooms, and entire dwellings. Shared spaces are most like hostels. Maybe a couch, a shared bedroom, or some other public room in the house. You will probably share the bathroom with at least one other person and hopefully get a share of the kitchen.
Private rooms allow you your own private bedroom while not necessarily guaranteeing that anything else is private. Sometimes you can find one that at least has its own bathroom giving you an equivalent to a hotel in privacy minus the sound proof walls 😉
When you rent an entire place you are taking over someone’s entire home. This may be a small loft for two people or a huge 5 bedroom house (I’ve don’t both depending on the group I’m traveling with). I planning a trip to Iceland with several other couples in a large 5 bedroom house with lots of living space, parking, hot tub, and a huge kitchen, that’s going to cost us about $35/person per night. I think that’s a steal given what we are getting. I’ve gotten private rooms in Portugal as cheap as $26/night.
Airbnb is great in the US and more expensive European countries. Its often more personal the hotel and certainly can be much more private than a hostel or staying with friends. The main drawbacks include having to work with someone else’s schedule to check in and perhaps the lack of standards the hotel industry is supposed to have.
When solo traveling, hostels may still be cheaper if you are looking for a bare bones budget, but with two or more, Airbnb is often your cheapest and best bet.
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World traveling, adventure addict, photographer