Eight Types of Multifamily Dwellings & Definitions

Gabriella Walling
2 hours ago
8 min read

Multifamily dwellings provide housing for millions of people. An estimated 37 million people live in multifamily rental units,¹ and experts estimate that approximately 266,000 new units will need to be built each year to keep up with growing demand.² With this level of demand, it’s increasingly important for investors, developers, and vendors that want to work with the commercial real estate industry to understand the multifamily landscape.

This guide looks at common types of multifamily dwellings and explains what distinguishes them from one another.

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Multifamily home defined: MFH refers to a structure that is intended to house two or more households separately. A family can refer to a single occupant, a couple, or a family. Conversely, SFH — single family home — is a structure intended for one family.

Apartments

Example of apartment building — Photo source: Jumpstory

Apartments are one of the most common types of multifamily dwellings, with 23 million apartment units in the U.S., as of 2025.³ Apartment buildings are typically owned by a single organization, like a real estate investment trust (REIT) or a property management company. Individual apartment units are rented out, not sold. Apartments often have some common areas and amenities, like a swimming pool, gym, or play area. Maintenance, property decisions, and management responsibilities fall onto the property owner, not the renter.

Types of apartment buildings

Low-rise apartments: A residential building with one to three floors, typically without elevators, offering fewer units and a more residential or neighborhood feel than mid-rise or high-rise buildings.
Mid-rise apartment buildings: A residential building with roughly four to seven stories, usually equipped with an elevator, offering more units than a low-rise while still being smaller in scale than a high-rise.
High-rise apartments: A residential building typically eight stories or taller, equipped with elevators, and designed to house a large number of units in a vertical structure.
Walk-up apartments: A residential unit in a building without an elevator, where tenants access their apartments by using interior or exterior stairways.
Garden apartments: A low-rise unit set in a landscaped or park-like setting, typically on the ground floor or within a building surrounded by greenery, with direct outdoor access or close proximity to shared outdoor space.
Basement apartment: A rental unit located partially or fully below ground level, with smaller windows and lower natural light than standard units.

Duplex

A duplex, AKA double-family home, is a type of multifamily dwelling that consists of two separate living units within a single building. The two units in a duplex typically mirror each other in terms of layout and size, with shared walls between them. Each unit in a duplex has its own entrance, typically located on opposite sides of the building to provide each unit’s occupants privacy. Duplexes can be owned or rented, with maintenance and upkeep falling onto the property owner.

Types of duplexes

Side-by-side duplex: A two-unit property where each household occupies its own vertical half of the building, sharing a common wall but having separate entrances and living spaces on multiple levels.
Stacked duplex: A two-unit building where one apartment is positioned entirely above the other, with each unit having its own separate entrance.
Half- or semi-detached duplex: A two-unit building that shares one common wall with another structure, combining features of a duplex and a single-family home while maintaining separate living units.
Ground or garden duplex: A duplex where both units have direct access to outdoor space, often with one or both apartments situated at ground level and opening onto a yard, patio, or garden area.
Penthouse duplex: A two-level apartment located on the top floors of a building, offering private upper-floor living, premium views, and upgraded features or outdoor terraces.
Conversion duplex: A two-unit property created by dividing a single-family home or larger residential space into two separate apartments, each with its own entrance and living areas.

Triplexes and quadriplexes or fourplexes house three or four units, respectively and can be arranged in the same way as duplexes: side-by-side, stacked, or in a combination layout.

Townhouse

A townhouse is a type of multifamily dwelling that is characterized by a multi-level design and units that share walls on one or two sides. Townhouses are often arranged in a row or cluster to create a community-style appearance. Each townhome has its own entrance and may have a small private patio along with shared common areas and a pool. Townhouses may be rented or bought with common spaces maintained through a homeowners' association (HOA).

Types of townhouses

Row houses (traditional): A narrow, multi-story home attached in a continuous row of similar houses, sharing side walls but having its own private entrance and interior living space.
Stacked townhomes: A multi-level residential building divided into separate townhome-style units that are positioned on top of one another, with each unit having its own private entrance and interior staircase.
Split-level townhomes: A multi-story unit with staggered floor levels connected by short sets of stairs, creating separate but partially open living zones within the home.
Bungalow lofts: A small, cottage-style unit with an added lofted sleeping or storage area, combining compact single-story living with a partially elevated second level.
Back-to-back lofts: A pair of loft-style units built directly adjacent to each other, sharing a central wall, with each unit featuring open living space and its own separate entrance.
Urban townhomes: A multi-story attached home located in a city setting, offering private entrances and vertical living layouts, typically with limited yard space and a compact footprint suited to dense neighborhoods.

Condominiums

Condominiums, AKA “condos,” refer to a community of units that are individually owned. “Condo” refers to the ownership structure, not so much to the building type. Condos can be detached units (like villas), or they can have two or more units in a single building. No matter the structure type, each unit in a condominium building is owned by an individual who holds the deed to the property. Condo owners pay fees to maintain and share the use of common areas and amenities that include swimming pools, gym/fitness centers, parking structures, landscaping, and outdoor spaces. Condo owners own the interior of their homes but may have shared ownership of shared walls and common areas. Maintenance for shared areas tends to fall under the HOA.

Types of condominiums

Apartment style condominium: A condo unit located within a multi-unit residential building that looks and functions like a traditional apartment, but each unit is individually owned rather than rented
Apartment-condo conversions: A process where rental apartment units are converted into individually owned condominium units, often with updates to meet ownership standards.
Detached condo: A stand-alone home within a condominium community where the structure is individually owned, but common areas and exterior maintenance are managed collectively by the HOA.
High-rise condo: A condominium unit located in a tall residential tower, typically eight or more stories, where each unit is individually owned and residents share building amenities and services.
Townhouse-style condo: A multi-level condo unit designed to resemble a traditional townhouse, with private entrances and vertical layouts, but with shared ownership of exterior areas and common spaces through the HOA.
Low-rise condo: A condominium unit within a small residential building of one to three stories, where each unit is individually owned and common areas are maintained by the HOA.
Garden condo: A condo unit situated on or near the ground floor of a low-rise, landscaped building, offering close access to outdoor areas or shared green spaces.
Luxury condo: A high-end condominium unit featuring premium finishes, upscale amenities, and enhanced services such as concierge access, secure parking, or on-site fitness and recreation facilities.
Age-restricted condo: A condominium in a community that limits residency to older adults, typically 55+, offering age-focused amenities, quiet living, and maintenance-managed common areas.

Age-Restricted Housing

Age-restricted housing is designed for individuals of a certain age group, typically 55 years and older. These communities often provide amenities and services geared toward older adults, such as recreational facilities and social activities. Various types of dwellings can be featured in an age-restricted community, such as apartments or condos. An HOA or similar organization usually maintains the shared areas and is supported by monthly dues.

Mixed-Use Properties

Mixed-use properties combine residential and commercial spaces. These properties often feature apartments or condos on the upper floors and commercial spaces, such as retail stores or offices, on the ground floor. Mixed-use properties create communities by pairing living spaces alongside carefully crafted commercial spaces. While mixed-use properties are often owned by a real estate investment trust (REIT) or a property management company, the residential units within them may be bought or rented. This type of dwelling is common in high-density urban settings.

Types of mixed-use properties that include multifamily housing

Retail-residential: These buildings feature retail spaces on lower levels and apartments or condos on upper levels. They can range from small two-story buildings in suburban neighborhoods (think coffee shop on the ground floor and loft-style apartments above) to high-rise multi-use buildings in major metropolitan areas (think One Magnificent Mile in Chicago, which mixes retail, office and living spaces).
Hospitality-residential: These buildings typically feature hotel spaces on lower levels and residential living on upper levels. Examples include the Sherry-Netherland in New York City and many Four Seasons Hotels & Residences in various cities.
Office-residential: An office-multifamily mixed-use property features office spaces and condominiums or rental apartments. An example is Alloy in Los Angeles, which is dubbed as the city’s first high-rise and offers a mix of live/work spaces.

Student Housing

Student housing is specifically designed to accommodate college or university students. These properties can vary from large apartment complexes to smaller buildings near educational institutions. Student housing often offers amenities and features tailored to the needs of students, such as study areas and communal spaces. The units may be leased to individual students or to a group of students sharing a single unit. Maintenance, property decisions, and management responsibilities fall onto the property owner, not the renters.

In Biscred’s database, student housing is its own asset type. We don’t categorize it within multifamily housing because of its ownership, management, leasing, amenity and operations features that differ from the other multifamily dwellings listed here. We did include it in this list, however, because some of our peers in commercial real estate include student housing within the multifamily asset class.

Low-Income Multifamily Developments

Low-income multifamily developments provide housing options for individuals and families with limited financial resources. These properties are typically subsidized by government programs or non-profit organizations to ensure affordability. Low-income multifamily developments can take several forms including apartments or townhouses. Rental rates are usually set at a percentage of the tenant's income. Low-income housing may be bought or rented. Maintenance generally falls to the property owner.

Mixed-used and multifamily properties cater to a variety of housing needs and demographics. From luxurious apartments and student housing to walkable districts that combine living, retail, and entertainment spaces, these types of developments are poised to see high demand in coming years.* Understanding the space will be crucial for investors, developers, and service providers hoping to navigate the CRE market effectively.

Sources

¹ Worldmetrics.org, Multifamily Housing Statistics, 2025-05-01, accessed 2025-12-05

² Multifamily Dive, “To meet demand, US needs 4.3M more apartments by 2035,” 2022-08-02, accessed 2025-12-05

³ National Multifamily Housing Council, Quick Facts: Apartment Stock, 2024 October, accessed 2025-12-05.