A renters cooperative. The renters own all the buildings, the rent strictly goes towards the maintenance and admin costs. Also called "Baugenossenschaft" in Germany if you want to know about real-life examples. Their remnants of pre-ww1 marxist policies. The deposit becomes kind of a buy-in that appreciates in value and when leaving the coop the renter gets their buy-in back. It is usually considered a pretty good investment.

As for renting from the government, this is typically pretty cheap. The soviets for example paid around 5-7% of their income for rent.

from https://doi.org/10.2307/3001359 p178

Relative Weight of Rent in Budgets of Workers and Employees in the USSR.

What's more having the rent set by the government allows for rent decreases for certain groups of people based on their legal status e. g. (same paper p176-177)

Workers and employees and others of similar status, whose income is 145 rubles per month, pay 35 kopeks for every square meter of dwelling space. Those earning less than 145 rubles per month pay a reduced rate depending on the renter's income and family status.

...

On the other hand, the rent of workers and employees whose income is over 145 rubles per month is also increased according to a graduated scale. This rate of increase is 3.3 kopeks per sq. m. of dwelling space for each additional 10 rubles in excess of 145 rubles.

...

Handicraftsmen and members of liberal professionspay from 66 kopeks to 1 ruble 98 kopeks per sq. m. of dwelling space. Officials of religious denominations and persons hired by religious institutions pay the higher rate of 1 ruble 98 kopeks. Military personnel pay from 15 to 80 kopeks per sq. m., and these rates are not subject to change on the basis of location, facilities or family status of the individual. Special categories of pensioners pay 50% of the established rent for workers and employees and are not required to pay higher rates for additional space. "Heroes of Labor," not employed and not having outside sources of income, pay rent on only 50% of their income.