Toronto ranked among the best cities in the world for millennials

Toronto has cracked the top ten in a ranking of the best cities in the world for millennials, a placement that might have some locals in that demographic asking, "Huh?"

Australian market comparison platform CompareTheMarket has compiled a ranking of the best cities for the millennial demographic to navigate rising interest mortgage rates and a global cost-of-living crisis.

A survey commissioned by the company found that millennials are the most house-obsessed generation, despite almost everything in the world working against their ability to invest in a home — something that rings true in Toronto.

Toronto is ranked tenth on the list of the best cities for millennials to set up shop, and is the only Canadian or North American city to be among the best. European cities claimed nine of the top ten positions in the ranking.

The ranking was formulated using methodology looking at 15 different factors, grouped into 5 subcategories for 60 cities across the globe. Subcategories include work/life balance, recreation, affordability, equality (factoring anti-discrimination, gender equality and LGBTQ+ acceptance scores,) and service access (levels of health, education, and internet speeds).

Locals can surely attest to factors like recreation, equality and service access, though anyone who actually lives in Toronto will be quick to point out that many residents are working unsustainable hours and even juggling multiple jobs to make ends meet in an increasingly unaffordable city.

Toronto ranked in the top five for anti-discrimination, gender equality, and LGBTQ+ acceptance, coming in behind Helsinki, Stockholm, and Oslo. Toronto also ranked fourth place in gender equality and overall service score for healthcare, education, and internet speeds.

Indeed, Toronto was nowhere to be found on the top-five lists for affordability and work/life balance, however, its glowing scores in other areas elevated it into the top ten overall.

Here are the ten best cities in the world for millennials according to the study:

1. Amsterdam, Netherlands
2. Stockholm, Sweden
3. Prague, Czechia
4. Dublin, Ireland
5. Milan, Italy
6. Zurich, Switzerland
7. Helsinki, Finland
8. Lyon, France
9. London, U.K.
10. Toronto, Canada