Steel siding used to be mostly found on businesses and storage sheds, but it has gained a lot of popularity with recent developments. Thanks to a more efficient manufacturing process, prices have come down, and a variety of styles have become available, making it more attractive.
Steel siding is very durable, but it does suffer from one weakness that is unique. It can rust. Because of this, two different types of rust protection are common. One is galvanized steel. This type of steel is good at protecting against rust, but salt water can damage it, so it is not an ideal material near the ocean. Also, if you live in an area where salt is used on snow, splashes from your driveway can do damage.
On the other hand, stainless steel is good unless it gets in contact with chlorinated water, such as from a pool. You will need to make a choice based on where you live.