This chapter reviews the various conceptualizations of residential well-being and introduces a new conceptualization. The new concept of residential well-being is defined as satisfaction with one’s living arrangement captured by one’s home and its immediate surrounding (i.e., community) to the extent that this satisfaction contributes to the sense of well-being in seven major life domains, namely health/safety, financial, family, social, work, leisure/arts/culture, and education/personal development, which in turn all contribute to the overall sense of subjective well-being. The sense of well-being in major life domains such as health/safety, financial, and family life serves to meet basic needs a la Maslow (low-order needs related to survival such as biological and safety needs). In contrast, satisfaction in other life domains such social, work, leisure/arts/culture, and education/personal development serves to meet growth needs (again a la Maslow; high-order needs related to human flourishing). Thus, housing and community amenities play a significant role in each of the aforementioned life domains contributing to domain satisfaction, which in turn contribute to overall life satisfaction. Within a given life domain, satisfaction with housing and community amenities contribute to positive/negative affect within that domain. Based on this conceptualization of residential well-being, survey measures can be developed and tested to establish the reliability and validity of this construct.