The issue is that all of those apartments are owned by one person getting filthy fucking rich from rent.

I spent seven years living in an apartment. I so enjoyed hearing the neighbors having sex, the thumping music they played, the smell of their cigarette smoke inside my apartment with all my windows closed, the random intrusions by management to repair something unrelated to my apartment, the random rent increases. Add this to the fact that I had no space for a work shop to make anything, and paying the equivalent of a mortgage with no equivalent home equity. Some people love apartment life, but it definitely was not for me.