What's the difference between an Apartment, a Condo, and a Townhouse?

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Apartment - rented housing in a building with other apartments; generally one level per unit (can be multiple) and multiple levels per building. Condo - apartment that is owned rather than rented Townhouse - can be owned or leased. Units are side-by-side; can be multiple levels, but no neighboring units above or below. Main difference between condo and townhouse is that condos have neighboring units above and/or below, townhouses do not. Both townhouses and condos have neighboring units on one or both sides. more
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