Almost one in four (23%) young private renters defined as 21 to 34-year-olds  regularly consider moving back into their family home.

Another one in three (32%) sometimes think about doing so. 

The largest proportion say that this is due to general living costs being too high (55%), while 40% want to save money for buying a property. 

Nearly three in ten (29%) say that they are struggling to pay their rent specifically, with almost three quarters (73%) saying that they found it challenging to afford their rent in the last year. Over one in five (22%) have considered moving back in with their family to save money for another reason, such as travelling.

Over a fifth (21%) of 21 to 34-year-olds currently live in their family home, while a third (33%) live in private rental accommodation. More than a quarter (27%) live in a home that they own with a mortgage and less than one in ten (8%) in a property that they own outright.

Among those living in their family home, over one in three (35%) say that they are choosing to do so because of the high cost of living, which means that they cannot afford to live elsewhere. A similar proportion (35%) say that they are saving up to buy their own home, while a quarter (24%) say that they simply prefer living with their family.

Many respondents to the survey – commissioned by comparison service Comparethemarket – currently living in their family home contribute towards a variety of household expenses. 

Over half (54%) help to pay for food shopping, while one in four (26%) contribute towards subscription services and a similar proportion (26%) to energy bills. 

Most 21-34-year-olds currently living in their family home say that they plan to move out within the next year (64%). Among them, four in ten (40%) intend on buying their own property, while one in four (24%) plan to move into rented accommodation. Shopping around using a price comparison website can be a helpful way to find deals that could save you money when preparing for a move.

Of the more than one in three (36%) 21-34-year-olds who do not plan on moving out of their family home in the next year, the largest proportion (40%) plan to move out in three-to-four years. 

More than one in three (35%) intend on moving out in one-to-two years, while just below a fifth (18%) plan on moving out in five-to-six years.