Types of residential properties in the U.S.

Answer

In the United States, there is a wide variety of residential property types to suit different lifestyles, budgets, and preferences.

Single-family homes are the most common type. These are standalone houses built on their own parcels of land, offering privacy and space, often ideal for families.

Condominiums (condos) are individually owned units within a larger building or community. Owners share common areas like hallways, gyms, or pools, and typically pay a monthly homeowners association (HOA) fee.

Townhouses are multi-level homes that share one or more walls with neighboring units but have their own entrances. They combine features of single-family homes and condos and often include a small yard or garage.

Apartments are usually rental units within a larger building or complex. These can range from studios to multi-bedroom units and are popular in urban areas due to convenience and lower upfront costs.

Multi-family homes include duplexes, triplexes, and fourplexes—properties divided into multiple units that can be rented out or occupied by multiple families. They are also attractive to investors.

Mobile and manufactured homes are prefabricated houses that can be moved to different locations. They offer a more affordable housing option and are often located in dedicated communities.

Each type of property has its pros and cons depending on factors like maintenance, cost, location, and long-term investment potential.