This is key here. Living so close allows to your U, you to spend time between classes and after the end of classes for the day, in the library. You can also go to the library on weekends, so there is no need to study or do homework assignments at home. You can still participate in on-campus activities/clubs, interact with your friends on campus, etc. You would probably go home to sleep and eat while a student at this U.
My son and his 3 roommates lived about 20-minutes from his university during his junior/senior year (lived in the dorm for freshman/sophomore year). The available apartments close to the university was limited and super expensive.
It also appears you are helping your parents with their living expenses (occasionally?), so that is an additional bonus for living at home. I was a commuter student for all 4-years of college, with over 1+ hour commute by train/bus, did well academically and had a solid college experience.