Soaring living costs are forcing Brits to make tough choices, and for many, that means moving back in with family. A new survey reveals that 30% of us already live in a multi-generational household – and that number is only going up.

The survey, conducted by Legal & General, quizzed over 2,000 adults about their living arrangements. It found that men are slightly more likely to stay in the family home (32%) than women (27%). Unsurprisingly, London and Birmingham topped the charts for multi-generational living, with 38% of residents sharing a roof with two or more adult generations.

For young people, it seems moving back home is the new normal. A staggering 53% of 18-24 year olds are living in multigenerational housing, driven by sky-high rents and the ever-increasing cost of living. And it’s not just the youngest generation feeling the pinch – 44% of 25-34 year olds are also choosing to live with family.

So, why are so many Brits choosing to share their homes? While 16% said it was down to cultural traditions, for most, it all comes down to money. A massive 67% said the cost-of-living crisis made multi-generational living a necessity, with 40% citing it as the main reason for their living situation.

But it’s not all doom and gloom. The “Bank of Family” is providing a lifeline for young people struggling to get a foot on the property ladder. Legal & General’s research shows that living at home while saving for a deposit saves an average of £32,600 in rent. And families are digging deep to help out, with an estimated £9.2 billion in gifts to loved ones this year – averaging £27,400 per person – to help them buy a home.

Of course, living with family isn’t for everyone. The survey found 18% wouldn’t consider it, with men (22%) more resistant than women (15%). Adult children are the most welcome addition, with 51% of over 65s happy to open their doors to their kids. In-laws are less popular (11%), while 14% would welcome grandparents into their homes. Interestingly, 48% of Gen Z are open to living with siblings – a surefire way to cut costs and share the burden.

Overall, attitudes towards multi-generational living are surprisingly positive. 42% see it as a good thing, compared to 15% who view it negatively. The benefits are clear: closer family bonds (particularly important for women) and help with elderly care (valued by older generations).

It seems the traditional family structure is making a comeback, driven by economic pressures and a renewed focus on family support. As Paula Llewellyn, chief customer and strategy officer at Legal and General, points out: “Britons value the benefits of shared households, reflecting a broader shift towards intergenerational support and adaptability in modern living arrangements.”