Almost two-thirds of young adults are most concerned about their ability to keep up with rent or mortgage payments, according to new research highlighting growing financial pressure across age groups.
A survey conducted by iReach on behalf of Royal London Ireland found that 64% of people aged between 25 and 34 identified housing costs as their primary financial worry. Overall, one third of respondents said missing rent or mortgage payments was their biggest concern.
The findings show a clear generational divide. Younger adults reported the highest levels of financial anxiety linked to housing, while only 11% of those aged over 55 cited rent or mortgage payments as their main concern. Instead, older respondents were more focused on the broader cost of living, with three-quarters saying rising prices were their biggest financial pressure.
Barry McCutcheon, protection proposition lead at Royal London Ireland, said the data reflects the strain housing costs are placing on younger households. He noted that 48% of those under 35 identified housing affordability as a key concern, adding that rent and mortgage commitments are increasingly shaping everyday decisions.
“For many, rent or mortgage payments shape decisions about daily spending, career choices and long-term financial planning,” he said. He added that many households are forced into difficult monthly choices between covering essential costs and saving for the future.
The survey also found that financial concerns extend beyond housing. Seven in ten adults said the rising cost of living remains their biggest financial worry overall, making it the most widely reported issue across all age groups.
Long-term financial security is also a growing concern. Around three in ten respondents said they were worried about their retirement savings, while a similar proportion expressed concern about the possibility of being unable to work due to illness or injury. More than 40% of those surveyed said they were worried about job security.
McCutcheon said the findings show that while immediate pressures such as rent, mortgages and daily expenses dominate household budgets, longer-term financial planning is also contributing to rising stress levels.
“The cost-of-living crisis is still weighing heavily on households across the country,” he said. “While many people are focused on meeting immediate expenses like rent or mortgage payments, longer-term concerns such as retirement savings and income protection also cause financial stress.”
The research highlights how economic pressures continue to shape financial behaviour, particularly among younger adults who are navigating higher housing costs alongside broader inflationary pressures.
