Where in memory is a variable of type object usually located?

In C#, variables of type object (as well as all reference types) are usually stored in the managed heap. When an object is created in the heap, memory is allocated for the object's data, and the reference variable is stored on the stack or in another object, pointing to the address in the heap.

Example:

object obj = new object(); // the object itself is in the heap, the variable obj is a reference on the stack