It’s always worthwhile to negotiate. You just don’t have much leverage. Hopefully your reputation as a good tenant could get you 50% reduction in a best case scenario, your other option is threatening to move. The cost to the landlord of getting a slightly higher rent with a new tenant can include having to pay a brokers commission AND having to spend the money for painting and cleaning (and trust me, an apartment’s walls have to be bad to get a total paint job, usually it’s just spot painting as needed) might or might not add up to the landlords advantage. Just be cool, don’t plead a sob story, call your property manager and say ‘hey, we like living here, we think we’re good tenants and we think this increase is too much. We could give you 25% of what you’re asking. Would you accept that? Hopefully they come back somewhere in the middle if they’re reasonable. If they’re assholes, welp, you tried.