Our favorite new spot in San Pedro [1] is
Plaza Típica Padilla Sunceri (7 a.m.–5 p.m. daily), the very clean, covered, market-style food court two blocks from the Gran Hotel Sula [2] in the center of town. Whether breakfast, lunch, or dinner, a meal here will only set you back US$2–3. There is a wide selection of snacks and meals, including tamales, pupusas, and even tapado olanchano (beef stew).
There are also several clean comedores in Mercado Guamilito (between 8 and 9 Av. and 6 and 7 Calles NO), serving inexpensive comidas corrientes, and you can expect (fast-moving) lines at the popular buffets. Check out the neighboring handicrafts markets before or after your meal.
A good choice in town for grilled meat or a plato típico is Rancho Palos Blancos (11:30 a.m.–1 a.m. daily), in an attractive, rustic wood and brick restaurant in the northwest section of town. Meals are well-priced at US$5–11, and there’s live music on Saturdays.
A local legend for make-your-own baleadas,
Baleadas Express (Calle 13 NO, between Av. Circunvalación and 11 Av., in Plaza Tropical, 7:30 a.m.–noon and 4–10:30 p.m. daily) looks a lot like a fast-food joint with its impersonal seating and plain lighting, but the tortillas are phenomenal and the assortment of meat fillings mouthwatering. Prices depend on the filling but an average baleada costs just US$1.
Very casual and centrally located downtown is the open-air Sabor Catracho, serving up tacos for US$1 each, baleadas for less, and set meals for US$3.20.
Links:
[1] http://www.moon.com/destinations/honduras/central-honduras/san-pedro-sula
[2] http://www.moon.com/destinations/honduras/central-honduras/san-pedro-sula/accommodations/us100-and