Accessing localhost:port from Android emulator
You can access your host machine with the IP address "10.0.2.2".
This has been designed in this way by the Android team. So your webserver can perfectly run at localhost and from your Android app you can access it via "http://10.0.2.2:<hostport>".
If your emulator must access the internet through a proxy server, you can configure a custom HTTP proxy from the emulator's Extended controls screen. With the emulator open, click More 
, and then click Settings and Proxy. From here, you can define your own HTTP proxy settings.
I faced the same issue on Visual Studio executing an web app on IIS Express. to fix it you need to go to your project properties then click on Debug Tab and change http://localhost:[YOUR PORT] to http://127.0.0.1:[YOUR PORT] and set the android url to http://10.0.2.2:[YOUR PORT]. it worked for me.