Portugal is a wonderful country and is, indeed, cheaper than France in almost every way possible. But you mustn't make it an alternative to other countries because Portugal has its very own charms that other countries haven't.
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In Coimbra or Braga a couple could live quite comfortably on that same budget of around $1,600 per month. Living in Lisbon, Porto, or trendy areas of the Algarve is going to cost more, but in other areas you can easily have a nice, cushy life for $2,000—add another $700+ to that for an equivalent Lisbon lifestyle.
Depending on your lifestyle, a couple should be able to get by with between $2,500 (€2,332) to $3,000 (€2,798) a month in Portugal outside the major cities. In major cities, particularly in the city center, expect to need a little more.
Portugal is slightly more affordable than Greece, and it also has a lot to offer visitors. It has a very diverse landscape that includes mountains, beaches, and almost desert like settings. There are vibrant cities like Lisbon and Porto, and natural areas where you can enjoy a more peaceful setting.
Portugal is cheaper than Italy, particularly when it comes to eating out. Overall, Portugal is a cheaper place to buy and rent property, however some parts of Portugal (like Lisbon) are above average in terms of cost. The cost of living in Italy varies greatly too, with the south usually cheaper than the north.
Some of the most common reasons why Americans are moving to Portugal include a more affordable cost of living, high quality of life, access to public healthcare, and an excellent climate are some of the most common reasons.
As an added bonus, the Portuguese people are friendly, welcoming to all visitors regardless of where they come from and a large portion of the population speaks English.