Boston Airbnb Analysis

I had a few questions I needed to answer to make sure I’m fully able to recommend a pricing model.Business Questions:Which neighborhoods in Boston have the highest rental prices?What time of year has the highest rental prices?What are the major factors that influence the price of an Airbnb rental in Boston?Data Preparation:The data required several clean-up steps..First, I wanted to make sure I only had one dependent variable (price), so I removed the weekly and monthly prices and the security deposit..I had to clean up the values in several columns: the prices had a dollar sign ($) and comma (,)..I removed these so the data can be translated into an integer..The data types for other columns also required a change so they can be used in calculations..The price, number of bedrooms, bathrooms, beds, and accommodates had to be changed to integer values.Next, I wanted to understand the underlying data to spot any possible outliers that may impact the accuracy of my model.This histogram indicates that most prices were between $0-$500, so anything over $500 may be considered an outlier.I determined based on this histogram that most prices were between $0-$500, therefore anything over $500 may be considered an outlier..I reduced the data set to include only prices less than $500..You can see the new values below in the resulting histogram:Using the data as-is, I performed some initial exploratory data analysis..Here is where I began to determine the answer to my first question:1..Which neighborhoods in Boston have the highest rental prices?Average Price and Number of Properties by NeighborhoodYou can see that the Bay Village, Leather District and South Boston Waterfront properties draw the highest rents..I also plotted the number of rental properties in those neighborhoods..The highest priced neighborhoods also seem to have fewer properties available for rent on Airbnb.. More details

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