How Much Income Do You Need to Live Comfortably in Lisbon?

Enjoying a quality of life in the beautiful Portuguese city of Lisbon requires careful consideration of your financial needs. As of August 2023, the cost of living varies significantly based on lifestyle choices and personal expenses. Here’s a detailed guide to help you understand the monthly income requirements for different living scenarios in Lisbon.

Monthly Income Estimates

Basic Living Expenses

For a single person who is on the lookout for a simple, comfortable lifestyle, the monthly expenditure can vary. A budget of €1000 to €1500 per month is generally sufficient for these basic living expenses:

Rent for a small apartment or shared accommodation (€1000 to €1500) Utilities (electricity, water, internet, €100 to €150) Groceries (approximately €200 to €300) Transportation (€50 to €100, depending on usage) Miscellaneous expenses (entertainment, dining out, etc., €50 to €100)

Comfortable Living

For a more comfortable lifestyle where you might prefer to rent a larger apartment or eat out more often, a budget of €1800 to €2500 per month would be more appropriate. This target budget should cover the same categories as the basic living expenses but in larger quantities.

Family Living

The monthly expenses for a family of four can range widely from €2500 to €4000, with variations based on housing size, schooling, and lifestyle choices. Taking into account additional costs for housing, education, and general family expenses, this range provides a good starting point for budget planning.

Housing Costs

What to Expect

The cost of rent in Lisbon can be quite diverse, depending on the location. Here are some general price estimates:

A one-bedroom apartment in the city center might cost between €1200 and €1800. In the outskirts, it could be around €800 to €1200.

These estimates can vary based on the neighborhood, amenities, and condition of the apartment. As a rule of thumb, a single person looking for accommodation might consider the following:

Room rental in a shared apartment: around €150 to €300 per month Hotel or hostels: between €70 and €150 per night

Other Considerations

Healthcare: Public healthcare is available, but private insurance may offer quicker access to services. Approximately €100 to €150 per month is sufficient for basic coverage, with additional costs for specialized treatments. Transportation: Public transportation is relatively affordable with a monthly pass costing around €40 to €50. For daily commuting, a single ticket can be purchased for around €2 to €3.

Additional Costs You May Not Consider

Deposit: You’ll need 2x rent as a security deposit, which can range from €2400 to €3600 for a one-bedroom apartment in the city center. Purchasing appliances: You may need to budget for initial purchases, which could cost between €300 and €500. Gas installation: Installing gas, including a check for safety, might cost €50 to €100.

If you are opening your own business, there are additional costs to consider. For example:

Office space or a place for parking a car: This could range from €300 to €600 per month. Basic advertising costs: Depending on your marketing strategy, this could range from €50 to €200 per month.

Conclusion

Ultimately, a single person might aim for a net income of at least €1500 to €2000 per month for a comfortable lifestyle in Lisbon. However, families should plan for higher amounts, depending on their specific needs and the size of their household. Assess your personal and family needs carefully to ensure a fulfilling and comfortable life in this vibrant city.