No Vacancy The Podcast with Natalie Palmer cover image

6. Talk Nerdy to Me: I Asked a Data Scientist What Airbnb Guests are REALLY Looking For

No Vacancy The Podcast with Natalie Palmer

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How to Predict the Nightly Rate of Airbnb's

In machine learning, features refers to more than just the amenities or the features of the home. The only things that don't fall into features of a listing are photos and what was written in the reviews. So I took all of those, what I'm going to call features and use them to try to predict the nightly rate of those Airbnb's. And to do that, I used machine learning algorithms. This is linear regression, but then also higher algorithms like random forest, extreme gradient boost, support vector regression, and neural networks. It predicted over 62% of the variance in price.

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