Types of homes for rent: Choosing what's best for you

Whether you're starting your career, downsizing from a house or even relocating for work, you may wish to join the 46 million rental households in the U.S. But first, you must pick the best rental type for your lifestyle and goals.

Here are the five most common types of homes for rent: apartments, single-family houses, townhouses, condos and duplexes. Each has its pros and cons.

For many rental market consumers, an apartment is the go-to option.

"Apartments are the backbone of the nation’s rental supply, providing homes close to jobs, schools and transit," said Chris Bruen, senior director of research and chief economist for the National Multifamily Housing Council. "According to NMHC/NAA research, the U.S. needs to build 4.3 million more apartments by 2035, including 600,000 units to make up for the shortfall after the 2008 financial crisis — to meet demand and keep housing attainable."

• Locations are convenient. Many apartment buildings are located in metropolitan areas near employment centers and public transportation. 

• You can access amenities, often without leaving the building. Common examples include pools, lounge areas and gyms.  

• Monthly expenses will be predictable during the lease term. For example, your rent remains fixed from the moment you sign the leasing agreement until it ends. Your landlord or property manager will also include fees for maintenance, trash pickup or similar services to your fixed rent price, eliminating the need to pay separately. Predictable monthly expenses also make it easier to save for a down payment while renting.

• Apartments don't tie you down. Moving at the end of your lease is relatively easy. You collect your security deposit, pack your belongings, hire a moving truck and return your keys to the leasing office. 

• It comes with restrictions. “Renters, I find a lot of times, feel like they’re kind of institutionalized because they can’t do certain things that they would be able to do if they owned a home,” said Stacy Brown, director of technical training for Real Property Management. 

• Privacy is another concern. Units are grouped, so it's often possible to hear your neighbor’s TV or radio through the wall.  

• You'll likely experience a rent increase. “When your lease is up, you’re going to see a rent increase of at least 5%,” said Arlington, Virginia-based RLAH Real Estate agent Maribeth Clissa. Landlords typically raise rents in response to market trends and increasing property management costs. For example, if your apartment building adds a state-of-the-art gym, you’ll see a percentage of that on your new lease. 

Single-family rentals are detached homes often in suburban neighborhoods. Renting a home gives tenants a taste of the homeownership lifestyle without the commitment. If the lease allows, you may also rent a room in a house, if you'd like.

Single-family rentals mostly appeal to move-up renters or individuals seeking more space who are not yet ready to buy, Bruen said.

• A house offers more space and better privacy. Unlike the other types of homes for rent, you won’t have to worry about noisy neighbors or other disturbances, for the most part. That’s a huge plus for older renters or families that may value their privacy. 

• You gain more freedom to personalize your home. For Halloween, you may decide to put a jack-o-lantern in your front yard. Or you could turn your garage into a video game arcade. 

• A home tends to be more expensive. Compared to an apartment or condo, single-family rental prices may be more expensive.

• Amenities may not be available. With an apartment, for example, you could simply take an elevator downstairs to the gym for a quick workout. But with a single-family rental, you would need to add your own equipment or find and travel to a gym near your home. 

• Repairs could take longer. Your landlord may not be around to take care of everything — especially if the owner lives out of state. In a pinch, you may need to fix the sink yourself instead of waiting for the maintenance person to arrive. 

A townhouse is a multifloor unit that shares one or two walls with neighboring homes. These homes are prevalent in major metropolitan areas. Townhouses are becoming the go-to option for affordable new construction in today’s market. According to the National Association of Homebuilders, newly constructed townhouses made up nearly 20% of all single-family starts in the second quarter of 2025 — the highest level since 1985.

• Can combine the pros of an apartment and a single-family home. You have the freedom and space of a house, with the added benefits of privacy, space, and sometimes the convenience of an apartment, including access to a community pool, clubroom or other amenities.

• Proximity to the surrounding community. Renters can blend in more easily with the wider neighborhood of homeowners, offering a sense of community that you may not get with the more transient population that lives in apartments. 

• Maintenance falls on the owner. "If someone's renting a home, whether it be a condo, a townhouse or a single-family home, the owners either have a property manager who takes those requests or they manage it themselves, in which case their tenant will call them directly,” Clissa said. 

• Homes are grouped like apartments. Like an apartment or a condo, neighboring townhouses are typically separated by one wall. Therefore, you could easily hear noise from your neighbor's residence. By comparison, a single-family rental property sits on its own plot of land, separate from neighboring homes. 
  
• Some listings may not have garages. This is especially true for townhouses in heavily populated places. Finding a space in front of your house can be difficult if you choose a listing with no garage or reserved parking spot. Keep this in mind while looking for a townhouse.
• They aren't as available as other options. Townhouses are in high demand for renters who work in urban environments, Bruen said.  

These single housing units are located in a condominium building. Condos are typically owned by one person, similar to a single-family home, a townhouse or a duplex. They can come in a variety of room counts, including a studio, one-bedroom, two-bedroom, or other setups that meet your unique needs.

"Condos and duplexes add flexibility and 'missing middle' [or affordable] options that help diversify local housing markets," Bruen said.

• In many cases, you deal with only one property manager. Communicating with one person, rather than a leasing office or a larger real estate firm, allows you to establish a personal relationship with your landlord, which can be beneficial. 

• Utilities may be included in the owner's fees. “In condos, the heating and cooling systems may be part of the building infrastructure, so they’re not part of the condo at all,” Clissa said. “And sometimes, utility costs are included in the owner’s condo fees, and they don’t pass those on. They’re part of the rent.” 

• You get similar amenities to an apartment. Condo communities are governed by homeowners associations that host meetings and vote to add or update amenities. That could mean placing a new yoga studio right next to the gym or a recreational room.

• HOA rules are still enforced. As a renter, you still need to follow HOA rules and restrictions, but you don’t have the same level of authority as your landlord would within the community. As such, any HOA-related issues would need to go through your landlord.  

• Noise. Condo renters may experience the same noise-related issues as renters of apartments or townhouses. 

• Rent increases may surprise you. Your landlord may base your rent on their whims. Conversely, an apartment landlord or management company would likely set rents to match surrounding market conditions. Of course, any changes are contingent upon your leasing terms. For example, if you have a fixed 12-month lease, your rent is locked in for that term, meaning your landlord can't raise it until that term is up.

A duplex is a multifamily home with two units separated by a wall. Each unit has its own entrance, rooms, appliances, systems and such. Oftentimes, someone will purchase a duplex, live on one side and rent out the other.

• Beginner-level renters are perfect candidates. According to Bruen, duplexes are excellent options for individuals who have not previously rented a house. Often, your landlord or owner will live in the other residence, which translates to faster response times in case of maintenance issues, emergencies and other concerns.

• Rent may be cheaper than a standalone house. While this largely depends on who your landlord is, renting half of a residence can be more affordable than renting a whole single-family home.

• More expensive than an apartment. Like a single-family home, a duplex can be more expensive than a condo or an apartment. While you share a home with another resident, you still have access to yard space, a parking garage, and other features. 

• Amenities are dependent on the owner's investment. Additionally, similar to a single-family home, your duplex and the surrounding community may not offer the same amenities as an apartment complex. The owner's investment ultimately determines your access to amenities.  

Single-family rentals, houses, and duplexes are among the most expensive types of homes for rent, as they offer additional space and privacy. Condo prices may vary depending on the location and the owner's fees.

Local ordinances also influence rent prices. For example, some municipalities allow apartments to raise their rents by $876 to $1,104 annually for applicants based on their source of income, according to CoStar rental price data.