Portugal Wages 2024 | Minimum & Average | Take-profit.org (2024)

FAQs

What is the average salary in Portugal in 2024? ›

Average salary overview

As of 2024, the average gross salary in Portugal stands at approximately €1,269 per month. However, this figure varies significantly depending on factors such as geographic location, industry, job role, and level of experience.

Portugal has the sixth lowest average gross yearly salary among OECD states. That comes to something like 28,410 dollars per year (24,557 euros). A far cry from the United States, which leads with 69,392 dollars per year (59,981 euros), or neighbouring Spain, with its 39,922 dollars per year (34,508 euros).

The average salary in Portugal is around €2,741 monthly. But, this number can change based on experience, skills, location, and gender. So the average income in Portugal varies from about €841 at the lower end to €12,360 at the higher end.

The cost of living in Portugal for a single person is about €1,200 a month in Porto or Lisbon and even less in smaller towns. With a higher income, you can live anywhere in Portugal with €3,000 a month, participate in various activities, go on weekend trips, and much more.

Living in Portugal means you can enjoy a high-quality life without breaking the bank. In its quaint towns, a monthly budget of $1,500 to $2,000 is enough for a comfortable lifestyle, while life in bustling cities like Porto or Lisbon might require a bit more, around $2,500 to $3,000.

In Portugal, where the median monthly income is €918, or €11,014 annually (2022 data), being in the middle class means earning between €688 and €1,836 net per month.

Living costs in Portugal are generally more affordable compare to the United States. According to recent Numbeo statistics (as of May 2023), the cost of living in Portugal is, on average, 36.6% lower than in the United States.

How Much Money Do You Need to Retire in Portugal? Portugal offers arguably the lowest cost of living in Western Europe. a couple can live comfortably in Portugal's interior for about $1,700 a month. The budget for larger cities such as Lisbon is about $2,100 or $2,200 a month.

What is the average cost of living in Portugal? A family of four estimated monthly expenses are $2,514.6 (€2,333.8) without rent. A single person's estimated monthly costs are $712.3 (€661.1) without rent. The cost of living in Portugal is, on average, 36.3 percent lower than in the United States.

What is the average rent in Portugal? ›

Housing Costs in Portugal

Housing in Portugal is exceptionally affordable. Small apartments in the interior of the country sometimes rent for USD$315-$385 a month(though typical prices come closer to USD$500-$610.) However, a similar-sized home in a trendy Lisbon neighborhood could easily cost four times as much.

The healthcare sector is the highest-paying sector in Portugal. The GDP of Portugal is USD 300 billion as of 2024, and it is set to increase by 1.7% in 2025. The per capita income of Portugal is USD 26,642. The highest-paying occupations in Portugal are – Healthcare, IT, Sales and Marketing, and Finance.

The minimum wage per month in Portugal in 2024 is 820 Euros, but it is paid over 14 months. The minimum wage per month in Portugal in 2024 is therefore 956,66 Euros if it is paid over 12 months.

If you're moving to Portugal as a couple, you should be budgeting around $2,500 (€2,332) to $3,000 (€2,798) per month to cover yourself. If you want to live in the heart of the city center, you're going to be looking closer to €3,000 per month.

For tax purposes, residents in Portugal are taxed on their income at progressive rates, varying from 13.25% to 48%.

The Minimum Wage will go up 60 euros a month to 820 euros, the greatest increase ever.

If you want live frugally in an affordable part of the country, you should be able to live on $1,000 a month. Given the increasing rental prices and housing costs in Lisbon and other major cities, however, it may be difficult to live on $1,000 a month in these parts of the country.

On average, housing in Portugal costs around 1,100 EUR (1,200 USD) in rent per month. This number grew considerably from the 800 EUR (880 USD) registered just a year before. Rent prices will vary greatly depending on the part of the country in which you choose to live and the type of housing you seek.