If you look at feudal England this is basically what happened - the rich landowner class provided servants' quarters for their employees.
Of course that crushes job mobility, because you can't leave your job without losing your housing...
After college I had a friend working at in the town of Lake Louise Alberta. This is located in a national park and the number of homes are extremely limited and very expensive.
Visiting my friend they game me the tour of the house. It was a three bedroom 2 bath townhouse with 15 people living in it. 4 beds per room upstairs, and 3 people in the basement.
All the people worked at various retail shops in the village. (Not at the chateau) Making minimum wage.
This is a special situation. They are specifically trying to limit the supply of housing in Banff to limit the environmental impact.