I really believe that Airbnb is far safer than VRBO. With VRBO you are exchanging personal information and money directly with an unknown 3rd party. In contrast, Airbnb has a trusted reputation system and handles all payments (i.e., both guest and host have verified financial accounts in order for money to be transfered). Airbnb even witholds payment to the host until 24 hours after you check-in, giving you time to contact customer service if you're not getting what you signed-up for.

You might want to try on a trip where it's just you and in a place where you know you can get a hotel if things don't work out. It becomes higher risk when you're bring kids / partner too and have to keep everyone happy.

AirBnB / couch surfing style sites are likely to work better for people with somewhat flexible schedules that can accommodate potentially being stranded and having to find a hotel at the last minute. In exchange for a small risk you meet local people in an informal way that you just can't get if you stay in a hotel.

AirBnB isn't a couch surfing site. It competes directly with sites like VRBO.

I'm not even remotely interested in meeting the typical person who wants to let out a room, but I'm happy to pay a decent premium over a midrange hotel to get an apartment instead of a hotel room, and have been happy every time I've done that.

I didn't say it was a couch surfing site. There are plenty of people who you wouldn't want to meet, but I've also seen a phd running a high tech startup on it, who might be more interesting.

If you're going somewhere regularly you can try a place once and then decide whether you want to stay there more often. There are some nice apartments as you say.

AirBnB is a combination of vrbo and couch surfing. It would be interesting to see real stats but my wager would be that the room rentals are doing better than the full apartment rentals.

Why are you willing to pay more to stay in someone's apartment than to stay in a hotel?

For instance, to be in the neighborhood you are actually visiting. Midrange hotels are often in lame neighborhoods.

Hotels are cramped and uncomfortable.

The latter (just kidding, not really available!) happened to me a lot in NYC, and a few times in Australia.

There is a weird sweet spot for AirBnB rental timing. If it's too far in advance the person doesn't know if they are going to be around to give you keys, or gone so that you can stay there. If it's too soon they won't have time to straighten up. I'm guessing the best luck happens around 4 days in advance, with a spot that looks like a reposted vrbo listing. (I.e. a semi-pro)

Also I think sometime in may short term AirBnB listings are effectively banned in NYC.

A good tip: If you find yourself screwed at the last minute because of that (or you're just in a tight spot and really need a place for the night) try the standby list feature that they have. I've tried this twice, once in Boston and once in NY and within 15 minutes the replies come pouring in, often at a discounted rate by people who want to fill their rooms for the same night.