You’ve probably come across a ton of real estate jargon while apartment hunting, from “rent-stabilized” to “flex apartments.” Here’s a comprehensive dictionary of all the different types of apartments so you can more easily find the home of your dreams.

Studio / Efficiency / Micro Apartment

A studio apartment is a small living space that often combines the bedroom, kitchen, and living room into an open single room. Sometimes comparable to a loft apartment, the studio typically has an open floor plan. However, an alcove studio apartment features an L partition in a studio sized space that often separates the living room and kitchen from an area that can serve as a bedroom nook or sleeping area. Studio apartment sizes can vary but are typically around 500 to 600 square feet. For comparison, a micro-apartment is typically 200 to 400 square feet. An efficiency apartment is similar but usually has more of a kitchenette vs a separate full kitchen. These units are ideal for an individual with very few possessions or large furniture.

The advantages of a studio apartment

Shared studios have an inviting and fun open vibe. If you’re considering living in a studio instead of a one-bedroom, here are some of the advantages that come with this type of apartment:

Price: Typically, a studio costs less to rent because it has less square footage. And because studios are smaller than other spaces, including a one-bedroom, you’ll likely pay less in rent and utility bills. However, this isn’t always true. Some larger units or those in large cities may come with a higher price tag.

Location: If you want to live in the middle of a big city, studios are a great option. They give you access to cool, hip areas downtown.

Simplicity: Since there is only one main room, filling it with too much furniture is not an option. This gives you a chance to get rid of unnecessary items, simplify and bring in only the essentials to your place. Whether you’re an avid reader with many books or a minimalist, this type of living arrangement is more favorable for those without a lot of belongings.

1-2 Bedroom Apartments

One bedroom, or two bedroom apartments, often abbreviated as “1-br/2-br,” are single apartments that have a separate bedroom(s) from the kitchen and living room. One and two bedroom apartments are one of the most popular apartment types. Tenants are renters that usually are in a lease with the landlord, property manager, or owner of the apartment building.

Luxury Apartment

A luxury apartment is typically a spacious, high-end living space in an ideal location in an urban area. It is not uncommon for luxury apartments to include high-end apartment community amenities such as gyms, laundry facilities, lounges, parking garages, swimming pools, a doorman, and so on.

Commonly located in the best neighborhood in the city, luxury apartments normally have top notch security. It could include guards, cameras, and additional protections. Besides, those apartments also have plenty of on-site amenities including pools, rooftop decks, fitness studios. For those who reside in, they can enjoy the most during their stay.

If you are looking to start living in the city, it’s important to note that luxury apartments can be very expensive but include top of the line appliances, floor plan variety, high ceilings, decor, and convenience.

Co-op Homes

Buying a co-op – short for “cooperative” – entails buying shares in a corporation that owns your space instead of owning your home. The bigger your home is, the more shares you will have. With co-ops, you are responsible for building maintenance fees, which can include property taxes, management fees, electricity, gas, and more. Your fees increase with the size of the apartment unit and can fluctuate over the years.

Condo vs. Duplex

Condos and duplex apartment buildings mainly differ in ownership. A condo is usually managed by a Homeowners’ Association, and each unit has a separate owner. You can buy or rent a condo, but if you rent, your landlord is the owner of the unit.

A duplex apartment is a style of building that has one single owner with 2 attached living units, rented out to tenants. Differing from that of independent detached houses, each apartment unit may share amenities, such as a patio on the ground floor, swimming pool, or parking garage spaces.

No-fee apartment

When an apartment is advertised as a no-fee apartment, it means that the landlord or property owner pays the brokerage fees. If you find an apartment complex without a broker’s help and go straight to the landlord, there are no fees included. Broker fees can exponentially increase the cost of moving into a new apartment, adding around one month’s rent in extra fees.

Rent-stabilized Units

Rent stabilized units are a form of affordable housing usually found in an apartment building built before 1974 that has more than six units. Having a rent-stabilized apartment means there are limits to how much your landlord can increase your rent, and you are guaranteed the opportunity to renew your lease with options.

Railroad-style apartment

In New York, a railroad apartment is essentially one without hallways, where each separate bedroom opens into the next room. Railroad apartments get the name because the floor plan resembles a series of railroad cars.

Garden Apartment

If you have an appreciation for gardening or would love to have a small outdoor area full of greenery, consider filtering your search for a garden style apartment or basement apartment with an outdoor area. Typically located on the ground floor or basement level, garden apartments have access to their own private outdoor area.

So, what are the good parts of having a garden-level apartment?

1. They’re great for night owls

Garden units are perfect for people who work night shifts. “Your unit will be dark and quiet during the day so you can sleep soundly,” says Alley Ballard, a real estate broker with @properties in Chicago, Illinois. Plus, because you can quietly come and go from your bottom-floor unit, you won’t be disturbing others in the building with your irregular hours.

2. They have easy accessibility

Because garden units are typically at or slightly below street level, you’ll never have to worry about walking up and down multiple flights of stairs—it’s usually just two or three steps. “Not only is this convenient for moving in and out, but it makes Costco shopping a lot easier,” Ballard says.

3. They’re advantageous for pet owners

Street-level accessibility is also ideal when your four-legged friend has to do its business. “If you have a dog that needs to go outside several times a day, it will save you a lot of flights up and down,” Ballard says.

4. You’ll save money

The big pull for garden apartments? The savings, which Ballard says can be up to 30 percent over the same unit above ground. Likewise, rent for a garden apartment is also less expensive than above-grade units.

5. They’re energy-efficient

Garden units regulate temperature well, saving you money on your electric bill. Because heat rises, you’ll stay cool on the bottom floor. “In the heat of the summer, while your neighbors are sweating or running the A/C, you will be sitting pretty in your garden unit,” Ballard says. In the winter, the lower ceilings and carpeting (frequently seen in these units) hold onto heat.

Flex room

Flex rental apartments are situations where space is split by a temporary wall(s), creating more space, a separate room, and a roommate(s). This solution is a popular option to turn a 1-bedroom apartment into a makeshift 2-bedroom apartment.

Coliving

At Common, members receive a fully furnished apartment bedroom in a spacious suite layout with beautifully designed shared spaces. Convenience goes a long way when living in a serviced apartment, which is why utilities, laundry, weekly cleanings, and household supplies are all included in one rent check.

In short, “Housing-as-a-service”, or “home-as-a-service”, means the living space includes services to enhance the quality of the resident experience. To illustrate, aspects of coliving generally include:

1. Shared communal spaces and facilities such as lounges, kitchens, gym, gardens, laundrettes and more;
2. Focus on community building and community facilitation;
3. Convenience oriented lifestyle consisting of one fee which covers all bills, flexible contracts, easy sign-up, cleaning, WiFi, events and more;
4. Private spaces typically made up of a bedroom and ensuite bathroom. Sometimes with a kitchenette or small living space;
5. A professional team who manages operations in contrast to self-organised communities.