Living for 88 Cents - Jakob Fugger's Legacy Lives On - Jakob Fugger’s 500-Year-Old Social Housing Still Inspires Modern Cities
Five centuries ago, Jakob Fugger created one of Europe’s first social housing projects—the Fuggerei in Augsburg. Today, the estate still provides low-cost homes to around 150 residents in need. To mark its 500th anniversary, organisers have searched for modern equivalents across the globe, from Zurich to Munich and beyond.
Fugger, a 15th-century financial powerhouse, built the Fuggerei as a lasting solution for the poor. His legacy endures not just in Augsburg but also in contemporary housing initiatives inspired by his vision.
Jakob Fugger, nicknamed 'Jakob the Rich,' rose to prominence through trade and banking. His family’s empire grew from textiles and silver, eventually financing the Habsburg dynasty and the Holy See. With his wealth, he established the Fuggerei in 1521—a gated community for Augsburg’s poorest citizens.
The estate charged an annual rent of one Rhenish guilder (now just 88 cents) in exchange for three daily prayers and a simple, uniform lifestyle. All homes followed identical floor plans, ensuring fairness among residents. Today, the Fuggerei remains active, housing around 150 people under the same principles. To celebrate the 500th anniversary, the Fugger Foundations launched a search for modern 'Fuggereis of the Future.' Projects in Sierra Leone and Lithuania were highlighted, alongside established models like Zurich’s 'Einfach Wohnen' foundation and Munich’s 'Munich Model.' Zurich’s scheme targets low- to middle-income earners, though vacancies are scarce. Munich’s version offers rents from €12 per square metre, aimed at families and middle-income workers. The anniversary events include a memorial Mass for Fugger at St. Anna’s Church on 30 December, followed by a state reception. A special exhibition, Cult and Commerce: Jakob Fugger in Collective Memory, is also running at the Fuggerei. The display explores his impact on trade, finance, and social welfare.
The Fuggerei’s 500th anniversary has brought renewed attention to affordable housing solutions. From Augsburg’s historic estate to Zurich’s and Munich’s modern schemes, the search for fair, low-cost living continues. The events honouring Fugger’s legacy will run through the end of December, keeping his vision alive for future generations.
