Replacing vinyl siding

[Sylvia B.]

We have a small rental house (single story, 32'x20') that needs the siding replaced. It currently has vinyl over foam insulation board over (?) and it has reached the end of its useful life.

It's in an older, but not historic neighborhood. Other homes have vinyl, hardiboard vertical, clapboard, brick, or some combination. No HOA or other restrictions. We want to be economical, which doesn't always mean as cheap as possible.

Would you use vinyl again or something else, and if so, what?