The place where you live — whether house, hotel, or mobile home — is where you reside. The President of the United States resides at 1600 Pennsylvania Avenue, in a little shack called the White House.
You can also use reside to refer to the community where you make your home. You may reside in a particular neighborhood, town, or city. The verb reside can also mean to exist as an inherent quality. For example: "The ability to create laws resides in the legislative branch of the government — in this case, Congress."