The Fuggerei is really nice to visit and walk around. There's also a little museum house so you can have a look inside one of the rather small houses and a permanent exhibit in the old bunker of the Fuggerei.

Keeping it up and running is cross-financed by the entry fees.

Also the 1 Euro is not the whole truth. Residents will have to pay so called "Nebenkosten" (auxillary costs) for electricity etc. like with any other flat.

Compared to Augsburgs rent levels it's still very cheap to live but I'd prefer not to do so.

Source: Lived down the street for a few years.