Toronto was named one of the best cities in the world for millennials and here's why

Where is the best place to live in Canada? If you're looking for a place that offers work/life balance, recreation and affordability in Canada, apparently, Toronto is your best bet.

A recent study analyzed the best cities around the world for millennials to move to, based on factors like the cost of living, health and education, employment opportunities and more.

Of the top 10 best cities for millennials to live in, Toronto was the only city in Canada to make the cut.

Australian travel insurance comparison site Compare the Market AU ranked a total of 60 cities based on how good they are for millennials.

Compare the Market AU says it looked at work/life balance, characterized by successful start-ups in each city, alongside unemployment rates, and the percentage of employees working 50+ hours a week and recreation, characterized by the number of walking trails, bars, attractions, and fitness clubs per 100,000 people.

It also looked at the city's affordability, characterized by the city’s cost of living, and mortgage credit interest rates; equality, characterized by the levels of anti-discrimination, alongside gender equality and LGBTQ+ acceptance scores, and service access, characterized by the levels of health and education across the population, alongside internet speeds.

The top 10 best places for millennials were all European cities, with the exception of Toronto, which was the highest-scoring North American city on the list.

According to the study, Toronto is the "fourth highest for equality, with a 100% score for anti-discrimination," and also came in fourth for LGBTQ+ acceptance.

Toronto also scored highly for service access, an overall score that looks at a city's health, internet speeds, and educational levels.

Toronto residents are educated, says Compare the Market, with 92% obtaining at least a high school diploma.

The best city for millennials, however, can be found in the Netherlands — Amsterdam was named the top spot for the generation, ranking highly for its affordability, acceptance of LGBTQ+, and work/life balance.

"Not only does Amsterdam have the lowest percentage of employees working 50+ hours a week, at 0.3%, but it also has the fourth lowest unemployment rate on our list at 3.6%; meaning if you choose to live here, it should be relatively easy to find a job, and you won’t be expected to work overtime," says Compare the Market.

The best cities for millennials to live in

Here are the top 10 best cities for millennials in the world, according to the research:

1. Amsterdam, the 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

If you're looking to make a move to somewhere a bit quieter, last month, several cities were named the best places to live in Canada for quality of life and they include charming small towns across the country that may entice you to call them home.