The cost of living in Porto actually very cheap compared to most UK and US cities. The income tax is low for citizens, and many times cheaper for non-residents working in the country. In addition to that, Portuguese people know how to save money from a very young age so they can enjoy their lives while not being stressed about having too much debt like many other Europeans.
The food from supermarkets is also very cheap, although some items can be pricey if imported. However, this usually applies to imports of non-essential goods like Coca Cola and the likes. In addition at most bars you can get a beer for €1-2 (€0,50 in some cases). It’s a common thing for there to be 3-4 different beers for this price.
The wine is not that cheap if you’re into the imported stuff but most of what’s produced in Portugal is pretty good and it usually doesn’t cost a lot. At some restaurants where the food is very expensive, there are more affordable options available like pizza or sandwich places.
One month apartment rental would be around €300-500 on average depending on how nice the apartment or flat is and where it’s located. In general any location in the city center would be more expensive than the rest of the neighborhoods.
To get an idea of how much you pay per square meter (square feet)€, multiply your rent by 4. For example, €300/month rental on a flat of 50 m2 (500 sqft) = €75 per month or $9/sqft
Rent in Porto is generally not expensive at all, and many times people pay less than half of their income for accommodation. It’s however tricky if you’re looking for a short-term stay (like 1 or 2 months).
Portuguese cuisine is very good overall. It can be spicy at times but usually they are not as spicy as people from some other countries.
Porto has the most restaurants in all of Portugal and therefore you can find almost every type of food for a reasonable price. If you are into meat, seafood, pizza or sandwiches there is something for everyone. Here is a blog which I wrote on food options in Porto . You can check out what’s near your location and what suits you the best.
Living in Porto is cheap, specially if you have money from outside of Portugal. If not, it’s still possible to live well.
If you enjoyed this article you might also like to read about How to Get From Lisbon to Porto