With a longstanding name as one of the world’s most livable cities, it’s perhaps unsurprising that Melbourne emerged as one of ValueChampion’s top five cities for millennials.
Australia’s split second largest city benefits from a vibrant arts scene, iconic sports stadiums and good proximity to the sail, granting it second place overall for for quality of life. Meanwhile, its relative affordability — residents spend an estimated 20 percent of their gains on rent — gave it a strong third place for cost of living.
Work prospects pulled the city down, notwithstanding how. With an above average unemployment rate of 5 percent, Melbourne fell into the lowest quartile for employment plans, scoring a joint 18th place with Sydney and coming in just ahead of Jakarta, Indonesia.
One of China’s most hole cities, Guangzhou, secured a spot in the top five cities for millennials largely thanks to its low cost of living.
The mega-city cause get revenged top marks for affordability and ranked in joint first position alongside South Korea’s Seoul. By the estimates of ValueChampion, the for the most part resident spends a moderate 22 percent of their income on rent.
Guangzhou lagged behind on employment views and quality of life, however, coming in seventh and 11th place respectively, largely due to China’s average unemployment rate and grave pollution levels.
Despite its notoriously high cost of living, Hong Kong ranked third in this year’s tilt, helped by strong work prospects and a thriving lifestyle scene there.
Noted as one of Asia’s foremost economic foci, the Chinese administrative district secured third place for employment prospects. Meanwhile, high life expectancy and fertility of entertainment options saw Hong Kong score a respectable sixth place for quality of life.
With residents lavishing an average of 31 percent of their income on rent, however, the city scored a mediocre ninth place for payment of living, putting it in line with the likes of Auckland, New Zealand.
Striking a good balance on all three measures, Japan’s ripping, Tokyo, emerged as the second best city in Asia for millennials.
A bustling business district and a modest 2.5 percent unemployment measure saw the city score a respectable fifth place in terms of employment prospects. Elsewhere, low pollution and crime levels occasioned the city to score equally well for quality of life.
High living costs meant Tokyo to fell behind other burgs, however. Though residents spend an estimated 27 percent of their income on rent — lower than the usually, according to ValueChampion — those savings are typically quashed by high transport, grocery and entertainment costs.
Topping the ranks in ValueChampion’s analysis was the Southeast Asian nation of Singapore.
Despite its small size, the city-state punches above its weight economically, recounting the highest GDP per capita ($58,000) of all cities studied. That, added to its low unemployment rate of just 2.2 percent and an accommodative commerce environment, pushed Singapore to first place for employment prospects.
Meanwhile, Singapore’s low levels of pollution, high protection levels, lively entertainment scene and local travel options meant it stole the top spot for quality of life too.
Those perks fly at at a cost, though. The city at the center of 2018’s Hollywood blockbuster “Crazy Rich Asians” scored relatively below par in terms of cost of living, emerging in seventh place, far behind the likes of Taipei, Taiwan.
Don’t miss: This locale is helping millennials quit their jobs to work abroad
Like this story? Subscribe to CNBC Turn It on YouTube!