Actually, a friend of mine lives in such a building. His building is in very poor condition (various problems such as bed bugs infestation, defective heater...)

Actually, a friend of mine lives in such a building. His building is in very poor condition (various problems such as bed bugs infestation, defective heater...). Most tenants there prefer to keep a low profile and don't complain to the landlord. The rent is not controlled, but pretty low ($600 for a small crappy room with shared bathroom). It seems most tenants are middle-aged hispanics. No retired people there.