So, we decide to find out. We looked at every major city in America and compared the cost of a hotel to the cost of renting an apartment on Airbnb. We discovered that Airbnb apartment rentals cost 21.2% less than staying at a hotel. And if you’re on a budget, you can save 49.5% if you decide to stay in a private room at a host’s house instead of staying in a hotel."
Source: Research by Priceonomics, 17th June 2013
Note - lots more stats given in the full report