A lot of the time but that's not necessarily my only criteria as much as a multifaceted personality or experienced through Life I am which makes it relatively easier to relate to / feel for Characters and situations. There are favorites of mine that I relate to a lesser extent than others and those that could even be considered polar opposites of mine but still harboring feelings of admiration / inspiration for them. Possessing Traits that I'd like to have. A feeling of completion. Just as it applies for irl relationships. As long as there is understanding, different worlds can come together. Be attracted to each other for that very reason too. So while Relatability is a bonus aspect, it is not the only one !!!!
Relatability
Whether or not they remind me of someone I am close to or they have traits of someone I would want to have any positive relationship with.
How much do they annoy me?
Their aesthetics
How do I feel about their character in said story
How I feel about all of the actions that directly involve him/her
Etc.
Obviously Rule 34/hentai is a bonus but there's many things I look for in a favorite character.
Lmao hell no. With the exception of maybe Regina I don't really have much in common with any of my faves. Because my faves are all relentless evil assholes and I love them.
I mostly choose characters who have similar view of world as myself. And they don't necessarily are all that similar to me. That depends from character to character.