Liverpool appeared to be favourites to land the versatile defender after agreeing a deal with Villa, but it is understood that move collapsed as the player does not want to move his family north.
The former Tottenham and Charlton man is believed to be holding out for a move back to the capital as he seeks a switch away from Villa.
Villa are ready to offload Young after he dropped well down the pecking order in Martin O'Neill's plans.
A number of clubs including Sunderland and Fulham are believed to have expressed an interest in the 31-year-old, but the Londoners are favourites for his signature.
Fulham have held a long-term interest in Young and incoming boss Mark Hughes is believed to be ready to push through a deal for the former England international as he looks to bolster the squad at Craven Cottage.