Rents for studio apartments in Funchal, Madeira, are now commonly exceeding 1,000 euros per month, according to a recent analysis of the local housing market. The rising costs are fueling debate about affordability in the capital city.
To assess the claim, a review of listings on the real estate portal idealista.pt was conducted on Friday, March 20, 2026, focusing solely on studio apartments and one-bedroom units available for rent in Funchal. The search identified 12 properties fitting that description, providing a snapshot of current pricing.
The lowest rental price found was 850 euros per month, for a property located in the Santa Maria Maior parish. Only three other options were available for under 1,000 euros: one listed at 900 euros per month in São Pedro, another at 950 euros in Santa Maria Maior, and a third at 980 euros in Imaculado Coração de Maria. This means that only four of the 12 available apartments had monthly rents below the 1,000 euro mark.
The majority of listings were priced above that threshold. Rents began at 1,200 euros per month, with several additional options ranging from 1,250 to 1,500 euros per month, indicating a significant concentration of properties within that price range.
These rental costs should be considered in relation to local income levels. The minimum wage in Madeira is currently set at 980 euros per month in 2026. Within the properties analyzed on idealista.pt, only three of the 12 listings had rents below that amount.
Expanding the search to the entire Madeira region revealed only one additional studio apartment available on Idealista, located in Gaula, with a monthly rent of 1,020 euros – also above the 1,000 euro threshold.
Based on this analysis, and considering that eight of the 12 studio apartments available in Funchal have rents exceeding 1,000 euros, the claim that such properties frequently cost more than 1,000 euros per month is accurate. The data suggests What we have is becoming a common reality for renters in the city.
“A studio in Funchal this year will easily exceed one thousand euros” – Reader comment on DIÁRIO’s Facebook page
