The word is documented in reliable dictionaries, sometimes marked as AE, sometimes not.
In my experience the word is slang. Some of the African American students at the high school I taught at last year used it, so it's definitely current.
Interestingly enough, the meaning of "home" is missing from the Webster's entry below. The closest correspondence is 3a.
http://www.merriam-webster.com/dictionary/cribMain Entry: 1crib
Pronunciation: \ˈkrib\
Function: noun
Etymology: Middle English, from Old English cribb; akin to Old High German krippa manger, and perhaps to Greek griphos reed basket
Date: before 12th century
1 : a manger for feeding animals
2 : an enclosure especially of framework: as a : a stall for a stabled animal b : a small child's bedstead with high enclosing usually slatted sides c : any of various devices resembling a crate or framework in structure d : a building for storage : bin
3 a : a small narrow room or dwelling : hut, shack b : a room or shack used for prostitution
4 : the cards discarded in cribbage for the dealer to use in scoring
5 a : a small theft b : plagiarism c : a literal translation; especially : pony 3 d : a summary and key to understanding a literary work e : something used for cheating in an examination
6 : crèche 1
It would be helpful if someone could supply more information about which varieties of English use this term.
