Airbnb, as in “Air Bed and Breakfast,” is a service that lets property owners rent out their spaces to travelers looking for a place to stay. Travelers can rent a space for multiple people to share, a shared space with private rooms, or the entire property for themselves. It is world-wide service. And quite a practical service as it offers multiple choices for finding housing during your vacation or your short term residence with great prices.
As part of this Machine Learning project, we chose to build a predictive model that can output Airbnb prices for a specific area. To do so, we will focus on the city of Chicago, one of the United States’ biggest cities and the most populous city of the state of Illinois. Our aim is to train a model using a pre-existing data and test it using new one.