Cabo San Lucas has its share of first-class restaurants and celebrated chefs, but if you can live without flashy amenities and spectacular Sea of Cortés views, it's quite easy to find quality food at affordable prices.
At Salvatore's, a bistro set in the courtyard of value hotel Siesta Suites, the excellent Italian-themed cuisine is sometimes overshadowed by the value-oriented prices and enormous portions. The lasagna is legendary, and a single serving is easily enough to satisfy two people (it's a popular "shared" option for visiting couples). There are some, in fact, who claim it could feed a small village.
Other notable downtown meal deals include $14 all-you-can-eat Brazilian style steakhouse fare at Rodizio, cheap lobster and surf and turf specials at Crazy Lobster Bar & Grill – recommended with at least a couple of $3 shots of Don Julio – and the generous $10 multi-course lunch special at Mediterranean themed Alcaravea Gourmet.
The best across-the-board prices, however, are typically found at traditional Mexican restaurants. Los Tres Gallos, perhaps the best restaurant in the city, has only a few items on its expansive dinner menu that top $20. Delicious and muy barato tacos are also found in abundance, most famously at local taquerías like Los Claros.