Want to escape sky-high rents and a cost of living crisis? This could be the place for you.
In a time when the cost of living continues to be crippling, driving rent and airline ticket prices to seven figures, the German village of Fuggerei offers a seemingly idealistic solution of year-round housing for just $1 USD, an approach so extraordinary that it sounds like a fairytale, yet it is very much a reality.
Fuggerei village is located in Augsburg, one of the country’s oldest cities, with a 500-year history. The village houses approximately 150 low-income tenants in its 142 two-story apartments. The tenants range from retirees with minimal pensions to young adults priced out of an increasingly expensive city.
A Village For The Needy, Since 1520
The tenants pay a mere €0.88, a tiny fraction of what an apartment normally costs in Germany. The village was established in 1520 by a wealthy banker, hilariously named Jakob Fugger. Fugger’s idea was to build a housing complex that could serve the needy and poor living in Augsburg, a tradition that proudly continues today.
Fuggerei is a seven-street village covering around 15,000 square meters. Residents live comfortably in the village and are provided with all necessary facilities, including a kitchen, a bathroom, a bedroom, and a children’s room.
The village has five entrances, a Catholic church, and a museum. During World War 2 Augsburg was heavily bombed and the village was also severely damaged. Thankfully, the residents were able to take shelter in an internal bunker and remained safe. After the war, the village underwent a reconstruction process.
What’s The Catch?
The village expenses are still overseen by the Fuggerei family. Money for its maintenance comes from investments in forestry and real estate. Tourists visiting the village contribute additional revenue to the foundation. Tourist admission fees of €4 per ticket make up around 20% of its income.
The only requirement for living in the complex is a demonstrated commitment to the Catholic faith as well as proof of having lived in Augsburg for at least two years. Tenants are required to pray three times daily in the village church, and its gates are locked promptly at 10 p.m. After that time, no one can leave or enter without prior permission.
Would you give up on late-night benders for the world’s cheapest rent? Or is your freedom worth far too much?
