"Owning your own place used to be a milestone of adulthood. Today, it’s increasingly out of reach for those trying to balance everyday rent with saving for a deposit"
- Jim Islam - OneFamily
Rising UK rents are keeping many young adults in shared accommodation longer than they planned, according to research from lifetime ISA provider OneFamily. With the average monthly private rent now £1,344, saving for a deposit and buying a first home can feel increasingly out of reach.
Four in five adults aged 18-40 have lived with housemates, and a third said they did not enjoy the experience.
Common frustrations include lack of privacy (37%), noise (32%), and messy housemates (29%), with respondents sharing stories ranging from overflowing sinks and mouldy dishes to loud music and unusual storage habits.
Despite the drawbacks, saving money remains the main reason people live with flatmates, with 36% saying it is cheaper than renting alone.
Lucy Laing, a 42-year-old creative freelancer from Brighton, described her experience of renting in London:
“You have a limited choice of where you’re going to live, due to high rent costs. You’re forced to move into places that are meant to feel like home, but don’t, and you can end up with housemates who have no respect for privacy or personal space. I was spending around £700 a month on rent split across a few people. Friends would say, ‘Why don’t you just buy somewhere?’ But how can you save for a deposit when rent costs were so high?”
Jim Islam, CEO of OneFamily, said, “We’re seeing a generation stuck in shared homes they’ve long outgrown, not out of choice, but because high rents make it nearly impossible to move on. Everyone deserves independence and peace of mind, but for many young people, these things now feel like luxuries. Owning your own place used to be a milestone of adulthood. Today, it’s increasingly out of reach for those trying to balance everyday rent with saving for a deposit.”
