Living in this location: This includes people who live in an area within the location you choose mostly the city on their Facebook profile. This type makes it easy to advertise a local restaurant or a shopping mall, for example, to people who live in a location.
Recently in this location: People whose most recent location is within the selected area, as determined by the device and connection information that we may collect. This includes people who live there or who may be travelling there.
Living or recently living in this location: People whose town is or recently was within the selected area. This is called "living in" on Facebook personal settings. This is different than the hometown.
Travelling in this location: People who don't live in the area but have been in there for a short amount of time.