In a quiet corner of Augsburg, Germany, time seems to stand still—at least when it comes to rent. In Fuggerei, the world’s oldest social housing complex, residents still pay the same annual rent set over 500 years ago: the equivalent of just $1.
Founded in 1521 by Jakob Fugger, one of history’s wealthiest individuals, Fuggerei was established as a charitable housing project for people in need. Fugger’s vision was simple yet profound: to offer those facing financial hardship a safe, dignified place to live within a supportive community.
Remarkably, the original rules for residency still apply today. Tenants must be Catholic, debt-free, and commit to praying three times daily for the Fugger family. In exchange, they receive a private, modest apartment within a charming, walled village that feels untouched by time.
Fuggerei is picturesque and serene, with rows of yellow homes, well-kept gardens, a central church, and even a centuries-old nightly curfew that residents still observe.
Through wars, revolutions, and global change, Fuggerei has endured—remaining true to its founding principles of faith, community, and compassion. While the world outside modernized, this unique enclave quietly preserved one of the most remarkable housing legacies in history.