Basically it depends on the precision you need for your locations. Using DOUBLE you'll have a 3.5nm precision. DECIMAL(8,6)/(9,6) goes down to 16cm. FLOAT is 1.7m...
This very interesting table has a more complete list: http://mysql.rjweb.org/doc.php/latlng :
Datatype Bytes Resolution
Deg*100 (SMALLINT) 4 1570 m 1.0 mi Cities
DECIMAL(4,2)/(5,2) 5 1570 m 1.0 mi Cities
SMALLINT scaled 4 682 m 0.4 mi Cities
Deg*10000 (MEDIUMINT) 6 16 m 52 ft Houses/Businesses
DECIMAL(6,4)/(7,4) 7 16 m 52 ft Houses/Businesses
MEDIUMINT scaled 6 2.7 m 8.8 ft
FLOAT 8 1.7 m 5.6 ft
DECIMAL(8,6)/(9,6) 9 16cm 1/2 ft Friends in a mall
Deg*10000000 (INT) 8 16mm 5/8 in Marbles
DOUBLE 16 3.5nm ... Fleas on a dog
Hope this helps.