The cost of living in Lagos, Portugal, is relatively cheap compared to most European cities and is a great destination to live on a budget.
However, it is not the cheapest destination in Portugal or the Algarve region, and you should be prepared to have a bit of a larger monthly budget.
A family of four can expect to pay US$2,800 per month (excluding rent), and a single person can pay US$800 per month (excluding rent).
Most of that budget comes from groceries, utilities, transportation, monthly subscriptions, or necessities, clothing, etc.
The base monthly budget can be altered or made less based on your individual needs and personal lifestyle.
For rent in Lagos, it is cheaper to live outside of the city center since most of the nightlife, restaurants, and cultural sites are in the city center and near the beaches.
You can find a one-bedroom apartment outside of the city center for as cheap as US$500 per month, and three-bedroom apartments within or near the city center for up to US$2,500 per month. Typically, the apartments within the city center or near the beaches are condos or small villa type houses.
But, if you are looking to buy property in Lagos, Portugal, then you can have a wide variety of options at your disposal.
You can find large villas with pools, plenty of room, and a bit of space to walk around for two or three million dollars, as well as smaller two-bedroom villas starting from US$500,000. You can also find smaller, more affordable options for around US$200,000.
No matter your price range or budget, you can find a place to live (whether you rent or buy) in Lagos, Portugal.
When it comes to groceries and food, you can shop for bargain prices. If you opt for the local markets and get up early enough to go to the fish market to get the best price on your favorite seafood, then you can vastly diminish your monthly food budget.
On average, you can expect to pay around US$200 to US$300 per month for groceries (for two people). Although, if you shop locally, you could easily cut that in half.
If you plan on eating out, then a nice three course meal for two people with wine and the works costs up to US$60.
When you live in Lagos, Portugal, it is easy to get carried away and eat out in the plenty of wonderful and eclectic restaurants that are offered or spend a night or two a week drinking with local expats in the bars.
This can easily eat into your budget. So, if you are planning on moving to Lagos, Portugal, but have a tighter budget, it is a great opportunity to get acquainted with the local markets and grocers, as well as learn to cook local Algarvian delicacies from the comfort of your new home.
The last thing that needs mentioning is transportation.
Once you are in the city center or near the beaches of Lagos, Portugal, you can walk everywhere. But there are the usual ride-share apps (such as Uber), and you’ll find reliable taxi and shuttle services.
There are plenty of great things to do in Lagos, Portugal, but there are also places to visit in Algarve and the nearby region, so looking into car options is recommended.
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