The study aimed to conduct a comparative analysis of human resource management (HRM) models in public and private housing organizations (HOs) managing municipal housing in Poland and to identify differences between these models based on selected HRM characteristics. Empirical research was conducted using a multi-stage survey approach supported by statistical tests. The analysis was based on sub-samples of public and private HOs representing the population of urban municipalities in Poland. The results suggest that in some aspects of people management (e.g., recruiting employees, long-term employment, selection procedures), there was convergence between HRM models in public and private HOs, while in other aspects (e.g., performance assessment, hiring and remuneration rules, employee participation, motivation and evaluation, training and development, interpersonal relations), these models differed significantly, often showing opposite relations. The findings confirmed that public HOs adopted a “soft” HRM model focused on improving employee well-being, while private HOs used a “hard” model aimed at improving organizational performance. This article is the second study dedicated to HRM in the social housing management sector in Poland. The findings may also be of interest in other countries where social housing management is undergoing market transformations.