Cost of Living in Madeira: Funchal Monthly Budget

Written By Lara Silva

With both rent and restaurant prices being around 25% cheaper than in Lisbon, Funchal allows you to live your island dream without paying the more expensive prices of mainland Portugal. Whether you’re looking for a temporary home as a digital nomad or looking to settle down with the whole family, the sixth-largest city in Portugal has so much to offer. From views of the Atlantic ocean to green forests and mountainous cliffs, Funchal, on the island of Madeira is an expat’s dream. If you’re considering Funchal as a permanent or temporary home, let’s take a look at the average monthly budget in Funchal for expats without children, families, and digital nomads.

Guide to Funchal

Cost of Living in Funchal for an Expat – Less than €1100

The monthly budget for an expat in Funchal is less than €1100, making it around €200 cheaper than Porto and €400 cheaper than Lisbon. A one-bedroom apartment costs around €740, although you can always opt for renting a room which should cost less than €500. The public transportation system is quite efficient and a monthly pass is around €35. Utilities are a lot cheaper than in mainland Portugal at around €120 including phone data and cable TV. For exploring the island, eating out at your favorite restaurants, and exploring the nightlife, budget at least €150 a month. Groceries for a single person average out at around €40 a week.

Guide to Renting an Apartment in Madeira

Health care could add to your monthly budget in Funchal. EU citizens with a valid European Health Insurance Card can use the National Health Service (SNS) for free for up to 90 days in Portugal. This allows them time to get registered as legal residents to continue using the public health system. However, no-EU citizens are only entitled to use the public health systemic they are employed and pay social security in Portugal, having to be registered as legal residents as well. Even if this is the case, before arriving in Portugal and becoming a legal resident, they must purchase private health insurance to cover medical care.

Cost of Living in Funchal for a Digital Nomad – €965+

The monthly budget for a digital nomad starts at €965, making it slightly cheaper than Porto and Lisbon. Although co-working spaces are less common than in Porto and Lisbon, you can still find a few starting at €120. Accommodation prices are generally the time, with beds in a hostel room starting at €15 a night and private rooms starting at €40 a night. However, if you are looking for a private Airbnb, they are more affordable in Funchal starting at €1,200 a month. A transportation pass for a month costs around €35 and you should budget at least €200 a month for exploring the island and discovering the cuisine and nightlife. If you decide to cook rather than eat out, you will only need around €40 a week for groceries. If you prefer eating out 3x a day, budget at least €8 per meal so around €720 a month.

Cost of Living in Funchal for a Family of Four – €2380+

The monthly budget for a family of four in Funchal is a lot more affordable than in Lisbon and Porto, particularly due to the private school prices. While you can choose to put your children in a Portuguese public school for free, if you are looking for an English-speaking and international environment, private international schools in Funchal are not as expensive as in mainland Portugal with prices starting at €3,000 a year.

Best International Schools in Portugal

A three-bedroom apartment costs around €1160 a month, but prices can go up to €1400. For transportation, if you choose to purchase monthly passes for your family, this will cost around €140. If it is more convenient to drive instead, fuel can cost anywhere between €150 and €250 a month depending on your consumption and vehicle. Budget at least €450 a month for eating out with the family and leisure activities such as going to the cinema and museums. Basic utilities should cost around €130 a month, including cable TV and phone data. A weekly grocery shop will cost anywhere between €125 and €150 a week if you know the best spots to shop.

For health care, EU citizens with a valid European Health Insurance Card can use the National Health Service (SNS) for free for up to 90 days in Portugal. This allows them time to get registered as legal residents to continue using the public health system. However, no-EU citizens are only entitled to use the public health systemic they are employed and pay social security in Portugal, having to be registered as legal residents as well. Even if this is the case, before arriving in Portugal and becoming a legal resident, your whole family will have to have private health insurance to cover medical care which costs around €50 per person a month.

A monthly budget for a family of four can be anywhere from €2,380 (or less if you reduce leisure activities) to over €5,000.

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