Howdy, neighbor! Am also an American expat living in Portugal. We've been living in Lisbon for about a year, and so far I really love it here. People are friendly, the vibe is relaxed, and life is peaceful with a glass of inexpensive wine never far away. Highly recommend anyone looking for an exit plan to consider sunny Portugal.
So far, there are no indications of the far-right gaining any amount of power with which they could govern. In a broader sense there have been a number of rightwing victories across Europe, but thus far Portugal (and Spain next door) don't look poised to join that trend.