The residential right system is a new system added to China’s Civil Code, which responds to the practical needs of the times. The residential right system established by China’s Civil Code has value functions such as improving the housing security system, paying attention to the housing needs of specific groups, and reflecting the property protection of the will of housing owners. When affirming the value and function of the residential right system, it should be noted that this system has problems such as a single type of establishment, unclear object scope, unclear rights and obligations, and incomplete elimination reasons. The main reasons for these problems are the relatively conservative legislation of China’s residential rights system and the expansion of the value and function of the residential rights system in modern society. In order to adapt to the constantly evolving social needs, it is necessary to further improve the content of the residential rights system in China’s Civil Code, so as to reflect its due value and function.