This paper identifies the management of municipal housing stock as an area of public management in an urban municipality, taking into account the legal, institutional and market conditions in Poland. In order to achieve this aim, the author examined relevant literature and pertinent legislation and employed an analysis of source (organizational) documentation on the management of municipal housing stock in provincial capital cities. The paper begins by discussing the essence, distinctive characteristics and concepts of public management as a sub-discipline of management sciences. Subsequently, it outlines the specificity of public management in a municipality as a local government unit. Against this background, the author goes on to identify the management of municipal housing stock from the standpoint of public management in an urban municipality by formulating its definition in a broad and narrow sense, followed by a synthetic characterization of this management in a functional and institutional approach, considering its basic organizational models. The research demonstrated that the management of municipal housing stock is subject to progressive marketization and tends to be shaped by such public management mechanisms as hierarchy, market and network. These mechanisms cause this management to operate in practice in a hybrid system.