The psychological consequences of limited marital opportunity have recently received attention. It has been argued that American women were facing a shortage of potential partners and that this situation was associated with a range of social phenomena, including changes in the value of marriage and family. This study examined the relationship between perceived marital opportunity and psychological well-being, as measured by depression, anxiety, loneliness, life satisfaction, and relationship satisfaction, using women's data from the 1989 Southern California Social Survey. Data from approximately 300 single women were included. Partial correlations between mate availability and well-being indicators, controlling for age, income, education, and value placed on marriage demonstrated that perceptions of mate availability were significantly and negatively correlated with well-being. A perceived lack of availability was associated with greater depression, anxiety, loneliness, and less satisfaction with life. The effect was strong and pervasive for Latino women and White women, but somewhat weak for Black women. Findings were interpreted as indicating that when the perception of mate availability was viewed as rooted and driven, the consequences for psychological well-being were negative. When mate availability was viewed as a systemic feature of the environment over which one had little control, mental health was not affected. (ABL)