Living in an apartment or small home doesn't mean you have to compromise what kind of home gym equipment you settle for.
These days, home gym equipment comes in very compact footprints. Here are a few suggestions to consider:
Strength Training: A home gym is ideal for performing various strength training exercises as it works your whole body. Perhaps the best part about a home gym is that they are very compact and don't occupy alot of space, such as the My Gym Home Gym.
Cardio: When it comes to cardio exercise, the home gym user has lots of options. You could consider an Exercise bike or a Folding treadmill.
As always when you are considering setting up a home gym, measuring the space is important to ensure that your home gym will be practical.