No, if you live in an apartment your typical experience right now is one of rent increases pricing you out of your neighborhood - if you owned a home this wouldnt be a problem. So living in an apartment kinda has an implicit expiration - your time is up once you get priced out.
My point what I tried to make above -- why the assumption you're renting if you live in an apartment? Some naming convention I'm not familiar with that implies renting?
From reading other snippets - yes! Funnily enough, to me apartment exclusively refers to rentals, you would call it a condo if you purchased it but the connotations of condo to me are 'some one with too much money paying too much for too little'.