When I visit a new city I almost always stay at an Airbnb. Not only because I can rent a whole 1 bedroom for half the price of a hotel room, but mostly because it gives me the chance to interact directly with the locals.
However, choosing the location of your Airbnb might be tricky: you have to have a sense of the local culture's language code, in order to understand the location description. As a rule, in North America I would suggest to be cautious of descriptions like "interesting", or "local flavor". In the case of Kensington Market of Toronto, I have to agree that the neighborhood is indeed unique, in several ways.