you're assuming that a good part of the increases are not...

1. to invest more money in developing the property/properties held by this landlord.
2. to fund capital improvements (in ground pool, led lighting, solar panels, tesla power walls, new playground)
3. to filter who lives there by way of turnover
4. to fund the landlord's lifestyle. it costs time and effort to manage a property, offset the non-payment tenants losses, legal, advertising of properties, etc.

imagine IF you applied your logic to concert tickets, weed, sneakers, alcohol...

Holy cow it's America and landlords want to live the same lifestyle the people you pay to see at lollapalooza or sportsball do

LOL