Rental prices never seem to stop rising, and even people who now own their homes are struggling to keep up with mortgage rates.
With this in mind, a place where rental prices haven't changed in 500 years sounds like a fever dream, right?
It turns out that such a place does exist in Germany!
Understandably, these places are limited, and tenants must meet some very specific entry requirements to take advantage of the cheap rent.
The site is in Augsburg, southern Germany, but the rent-protected area is the city's own walled area.
It's called Fuggerei and is believed to be the oldest public housing estate still in use in the world.
The complex was founded in 1516 and the rent has remained unchanged for 500 years.
The houses in the enclave look like something out of a fairy tale, and frankly, they basically are when you know how cheap the cost of living is there.
In Fugere, where residents have to live on less than €1, annual rent is just 88 cents, equivalent to 77 pence.
Things get a little complicated by the conditions you must meet in order to be able to live there.
Residents must be Catholic and be prepared to pray three times a day for the owners of the complex.
Additionally, renters must have lived in Augsburg for two years and be poor but free of any debt.
For those who meet the requirements, they can rent a house with an area between 45 and 65 square meters, with either a shed or a loft, depending on whether the house is on the first or first floor.
Plus, each house even had its own unique doorbell so residents could tell which one was theirs in the middle of the night before street lights were invented!
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