Edinburgh named as best city to live for ‘broke millennials’

Edinburgh was named as the best place to live for 'broke millennials' by Business Insider.
Edinburgh was named as the best place to live for 'broke millennials' by Business Insider.
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Edinburgh has been named by Movehub as the best city to live in ‘if you’re a broke millennial in search of an adventure in 2018.’

The study looked at the affordability and lifestyle for young people in 32 big cities across the world analysing a number of factors such as average monthly costs including income, renting a one-bed apartment, and public transport.

It also looked at the number of cheap eateries, the cost of a cup of coffee and the safety of the city overall.

The study used a range of available data from Deutsche Bank, Numbeo, Expatistan, TripAdvisor and the UN

It analysed food and drink by combining Trip Advisor’s cheap eats data with population figures

The Capital beat competition from cities such as Vienna, which finished second, Tokyo (12th) Mexico City (23rd) and Melbourne (8th).

According to the report from Movehub, Edinburgh ‘came out as the world’s best city for cash-strapped millennials’ due to it having one of the best scored for rent in relation to income.

The study claimed a fully furnished flat just outside of the city centre costs on average £565.43 per month, accounting for 30% of the average monthly earnings.

The city also ranked well for cost of living, transport and safety.

Analysing the number of factors for Edinburgh, the study found the following:

Cost of public transport: £58

Income: £1,739.89 ($2,328.31)

Rent: £565.43 ($756.66)

Density of cheap eats: 84.32

Cost​ ​of coffee: £2.54 ($3.41)

Safety Index: 10

All scores were the average for each city.

Edinburgh was the only city from the UK named in the top 23. Of the 32 cities included in the study, only 15 of them were European, however, 8 of the top ten were from Europe.