Not necessarily. A poorly maintained, older building may have worse heat insulation or vapour barriers, or problems with mold, or simply less efficient fixtures

Not necessarily. A poorly maintained, older building may have worse heat insulation or vapour barriers, or problems with mold, or simply less efficient fixtures than modern buildings. Energy and healthcare bills can be substantial, and are borne by the tenants, not the landlords. What you're really describing is a lower standard of living, not merely a lower cost of living.