The 2018 Bloomberg home-renting site ranking states that an average cost of a house accommodating two adults is $53 (Sh5,300) in Kenya’s capital.
The index however indicates that the current cost represents a three per cent drop compared to the 2017 ranking.
The index ranks more than 100 global cities based on the average daily cost of lodging in private homes. Miami was ranked the most expensive at $205 (Sh20,500), a 7.9 per cent increase.
The index ranked Cape Town as the costliest city on the continent and the 27th most expensive metropolis in the world where the average cost of accommodation is $127 (Sh12,700).
Lagos was the second most expensive on the continent at $103 (Sh10,300) cost per night and 43rd globally. Abuja $91 (Sh9,100), Harare $65 (Sh6,500) and Johannesburg $58 (Sh5,800) also came ahead of Nairobi at positions 54, 85 and 92 respectively.
Airbnb, which entered Kenya in 2012, has disrupted the travel market globally by allowing users to rent out entire homes or rooms in their houses to tourists.
Data from the US firm shows that there were 39,500 guests hosted in Kenyan properties in the year to September, a 143 per cent jump from a similar period last year. A typical Kenyan host earned Sh97,000 ($970) per year from renting out their home, the data shows.