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This City Has Been Named the Most Affordable for Millennials

SYDNEY, AUSTRALIA - NOVEMBER 28: Diner en Blanc at Sydney Opera House on November 28, 2015 in Sydney, Australia. Diner en Blanc is a pop-up picnic that started in Paris over 20 years ago. The event takes place annually in over twenty cities around the globe. Guests are required to come dressed in all white and must bring their own white chairs, tables, cutlery, crockery as well as their food and drink. (Photo by Sarah Keayes/Getty Images)

It’s a g’day to be young Down Under.

G’day, Sydney: You’ve just been named the most affordable city in the world for young people.

The Australian metropolis topped a ranking of the most cost-friendly cities in the YouthfulCities Affordability Index, a study of 55 metro areas from the perspective of 15 to 29-year-olds. The list, pulled together by social startup YouthfulCities, compares the cost of food, housing, public transit, entertainment, and entry-level wages in different cities around the world.

The choice of Sydney might conflict with other lists that place it as one of more expensive cities in the world. But one of the biggest reasons Sydney fared well on YouthfulCities’ list was its high minimum wage: At an average of $16.28 (U.S.) an hour, it was nearly $4 higher than the next city, Paris.

 

Read more: http://fortune.com/2015/12/02/sydney-affordable-millennials/?xid=soc_socialflow_facebook_FORTUNE

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