Anyone have any suggestions as to what type I should plant. Why is that one preferable?
I would advise you to NOT do this unless you live in a tropical climate zone. The only types of bamboo grasses that will grow in temperate zones are the monopodial or running types which spread rapidly and are nearly impossible to remove from your property once they are established (I've been fighting the stuff in my yard that my home's previous owner planted for 3 years.) They will overwhelm anything else you have planted and create a dense network of tough roots that can't be pulled out and will dull anything you try to cut them with.
Most are classified as "invasive species" and considered environmentally disastrous -- contact your regional agricultural or environmental agencies (like the Audubon Society) to make sure you don't plant any that are so classified.
Here in Pennsylvania, non-native grasses have begun to migrate from people's yards into wild areas and are crowding out the native species and eliminating food sources for birds and wild animals. Just because they are sold in local nurseries does not mean that it's wise to plant them.
If you do live in a tropical zone, you can grow sympodial or clumping types (which also spread, but very slowly). Again, check with a reputable gardening group before selecting anything.
I'd advise you not to grow any. Bamboo can be extremely invasive and almost impossible to kill or control once established, it can easily spread into your neighbors' yards and they will not thank you for it. You have to be diligent in controlling it and if you ever move, your buyer might not know how to do this, or won't bother, and it will spread. As a general rule, you should not plant things that are not native to your part of the country if they can spread. If you buy any, plant the smaller, non-invasive types if you can find any. Consider contacting the American Bamboo Society, too.
I, really wouldn't plant any bamboo in my yard it's too evasive, it will take over your yard.
Most of the taller bamboos are running, and will spread unless they are placed in a contained area. I would recommend using Nandina domestica or Heavenly Bamboo rather than the more invasive Phyllostachys species.
Nandina domestica is an evergreen hardy to zone 5, drought tolerant, and grows well in full sun to full shade. It gets 4'-6' high by 3'-4' wide, white flowers that yield round red berries in the fall (don't eat them), and turns a beautiful red in the fall and winter months. There is also a dwarf variety N. d. 'Nana' that is shorter (2'-3' high)
If you really want a Phyllostachys, I would suggest the P. aurea or Golden Bamboo. It is hardy to zone 5, is 1.5" diameter and 8'-15' high, and turns yellowish in direct sunlight. Make sure you contain it or it will run wild and take over everything nearby. A 3' deep 8" wide concrete mowstrip/wall sloping slightly outward at the top will do a good job to contain the rhizomes and prevent it from spreading.
I think first you need to decide whether you want a "running" or a "clumping". The running bamboos are the ones that spread very quickly and they will push out anything in their way unless you take lengthy measures to control them when they are doing well. Your neighbors will grow to dispise this choice someday!
Clumping ones grow a little shorter on average, but you don't need to take drastic measures to control them as they do not run at all. Clumpers are definitely more compatible with other garden plants and your neighbors wont be digging bamboo out of their yard years later.
If you live in a warm climate, you can grow most any variety of clumping bamboo. However, there are several varieties that are hardy to 0 F. and even a couple to -10 deg.
The ones that I like (all clumping) that are more cold tolerant are:
Chusquea culeou - it's hardy to 0 deg., can grow to 25', and has large leaves (for a clumping variety). By the time it reaches that height the base of the plant will likely be 10-12', so give it some space!
Fargesia nitida - it's hardy to -20 deg. grows to around 12' and has "purplish" stalks! Mine is about 6' tall now and only takes up about 2' of the bed that it's in.
There are clumping ones around that stay even shorter than those if you should want. Just make sure that you buy them from some place that really knows their stuff about bamboo so that you don't get a running variety by accident! And don't let them fool you into thinking that you can plant a liner to prevent them from running. They will break it in due time! Good luck with that.