I… don't really have favorite genres. I have favorite themes and a little bit of criteria.
Criteria: If it has a story I will play it. Shadowrun Returns, KotOR, Inquisitor, Expeditions, XCOM, Brütal Legend, Mark of the Ninja, Bastion, Assassin's Creed II, Fallout, FTL, A Virus Named Tom, NWN, NWN II, Crusader Kings II, Dungeon Keeper, Stronghold HD, Don't Starve, Simon the Sorcerer, Bard's Tale, I love them all. And they're a huge mix! I can't just say, "I play RPGs" because they aren't all "traditional RPGs." I mean, FTL is an absolute rogue-like! Mark of the Ninja is a platformer, no questions asked! Simon is a point and click adventure, A Virus Named Tom is a puzzle game, Don't Starve is some sort of survival genre, I don't even know how to classify XCOM. But the one thing they all have are great stories. Stories I can get invested in, characters I like, characters I hate, and they just generally have PLOT. Even a stupidly simple plot, but they all have an actual story.
Alright, so it has to have a story. Next up, what kind of themes do I like.
Themes:
I like to rule. Muahahah. Civ V, Crusader Kings II, SimCity 2000, Stronghold HD, Dungeon Keeper, games where I can rule and shape a town, city, kingdom, empire. It's not just the building aspect, it's the ruling aspect. Owning the Villa is probably my favorite part about Assassin's Creed II, Crossroad's Keep is the best about NWN II, etc. I also love the building aspect, especially if I can make building choices but I also really love to be able to influence my people; I want to build this and not that, I want my people to be like this, react like that, we approve of these guys, we hate these guys, we all were tights on Friday, etc.
I like to play the Bad Guy, or at least as Evil. NWN especially HotU, NWN II, BG II, Dungeon Keeper, KotOR, even Bard's Tale a little a bit. It's just fun, you don't get a lot of villain-centric novels or movies. You see more these days with things like Breaking Bad, but earlier? Eh, it was rare, it was more common to see simply grey morality. Occasionally you would get something like Scarface, or the Godfather, or Suicide Kings but not often. And very, very rarely did the villain actually win. So these are really fun to play.
Speaking of grey morality I like games with Flexible Morality! Go figure, right? Anyways Avernum, Geneforge, Avadon, the Witcher, XCOM, Expeditions, etc. Games where either morality just doesn't apply, or things definitely are not black and white. In fact, half the time they aren't even shades of grey, they're things like blue and fuschia and lime-green. Civ games even have a tendency to fall into this, which is awesome.
And then there are the things that aren't themes and are simply, aesthetics? I don't know. Just general stuff.
I like innovative games. Bastion, check out that fully reactive narrator! How cool is that?! Mark of the Ninja, holy shit it feels like they kidnapped the animators from Disney in the Nineties. I just like games that feel like they truly went the distance, pushed something, anything to the limit. Games that feel like they added to video games as a whole.
I like colorful games. I know that's shallow, but it is true. I love Bastion, Trine, Torchlight, HOMM III, Rainslick Precipice of Darkness, Expeditions, Brütal Legend, etc. I just get so depressed staring at grey walls, and brown walls, and oh joy are we in a cavern or a crypt or ugh… I admit, I have never actually managed to finish Icewind Dale because it is so freaking grey/brown/white. I generally get through the Kuldahar Crypt section and just give up. Which makes me sad because there actually are some cool mosaics and tapestries and stuff you just can't see it. Morrowind is another one, yay more murky muddy swamp colours and everything looks like gloom and doom and it's so BORING. I would rather play Mario and rescue the princess for the 9000th time then play Morrowind. But I can play text-based games no problem. I have no idea why.