Cost of living in Faro
Faro, the capital of Portugal's Algarve region, is known for its stunning coastline and rich cultural heritage. Understanding the cost of living in Faro is crucial for anyone considering moving to or visiting this picturesque city.
This guide provides a detailed breakdown of expenses in Faro, covering everything from dining and groceries to housing and transportation, helping you plan your budget effectively.
Cost of Living Summary
Dining and Restaurants
- Inexpensive Restaurant Meal - A meal at a casual restaurant will typically cost $12.64 on average, with a range between $9.48 and $21.07.
- Mid-Range Restaurant (Three-Course Meal for Two) - For a more upscale dining experience, expect to pay around $42.15, with prices ranging from $42.15 to $74.82.
- Fast Food (e.g., McDonald's) - A McMeal or equivalent combo meal averages $8.43, with a range between $7.38 and $12.64.
- Beverages (e.g., Domestic Beer, Imported Beer, Cappuccino, Coke/Pepsi) - Domestic beer ranges from $1.05 to $5.27, imported beer $2.63 to $5.27, cappuccino $0.74 to $2.63, and Coke/Pepsi $1.26 to $2.63.
Grocery Prices
- Milk - Milk is priced between $0.86 and $1.11 per liter, averaging $1.
- Bread (Loaf of Fresh White Bread) - A loaf of fresh white bread costs between $0.74 and $2.67, with an average price of $1.4.
- Eggs (Dozen) - A dozen eggs range from $1.61 to $3.15, averaging $2.69.
- Fruits (e.g., Apples, Oranges) - Apples cost $1.26 to $2.95 per kg, while oranges range from $1.26 to $2.11 per kg.
- Vegetables (e.g., Potatoes, Lettuce) - Potatoes are priced between $0.95 and $3.48 per kg, and lettuce costs $0.75 to $1.05 per head.
Transportation
- Public Transport (One-Way Ticket) - A one-way local transport ticket costs between $2.63 and $3.16, with a monthly pass priced between $18.97 and $31.61.
- Fuel (Gasoline) - Gasoline is priced between $1.72 and $1.91 per liter.
- Taxi Fares - Taxi fares start at $3.48, with a cost of $1.05 per km and $20.02 per hour of waiting.
Housing Costs
- 1-Bedroom Apartment Rent (City Centre) - Rent for a 1-bedroom apartment in the city centre ranges from $895.61 to $1264.4, averaging $1036.1.
- 1-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $526.83 to $948.3, averaging $755.13.
- 3-Bedroom Apartment Rent (City Centre) - Rent for a 3-bedroom apartment in the city centre ranges from $1580.5 to $2107.33, averaging $1756.11.
- 3-Bedroom Apartment Rent (Outside Centre) - Outside the centre, rent ranges from $1053.66 to $1896.6, averaging $1404.89.
- Buying Price per Square Meter (City Centre) - The price per square meter to buy an apartment in the city centre ranges from $2897.58 to $4214.66, averaging $3389.29.
- Buying Price per Square Meter (Outside Centre) - Outside the centre, the price per square meter ranges from $2212.69 to $3160.99, averaging $2669.28.
Utilities
- Basic Utilities (Electricity, Heating, Water, etc.) - Basic utilities for an 85m2 apartment cost between $105.37 and $298.54, averaging $133.46.
- Internet - Internet services range from $30.56 to $42.15, with an average cost of $34.77.
Cost of Living Rankings
The cost of living indices for Portugal are compared to New York City (NYC), which serves as the baseline with an index of 100. These provide insights into the relative cost of living in different cities in Portugal, covering factors like consumer goods, rent, and purchasing power.
Cost of Living Data
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Transportation
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Rent Per Month
Rent Per Month
Utilities (Monthly)
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Sports And Leisure
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Clothing And Shoes
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Buy Apartment Price
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Salaries And Financing
Salaries And Financing
Childcare
Childcare
"Key Takeaways"
Faro offers a relatively affordable cost of living compared to other European cities, with reasonable prices for dining and groceries.
Housing costs can vary significantly depending on the location, with city centre apartments being more expensive.
Transportation is affordable, with public transport and fuel prices being quite reasonable.
Utilities and internet services are moderately priced, contributing to the overall affordability of living in Faro.
Conclusion
In conclusion, Faro presents a balanced cost of living, making it an attractive option for both residents and visitors.
With its affordable dining, reasonable transportation costs, and varied housing options, Faro is well-suited for those seeking a cost-effective lifestyle in a beautiful coastal setting.