This paper reports a comparative investigation identifying salient sociological variables associated with the perception of well-being by the U.S. metropolitan and nonmetropolitan populations. Subjective well-being in general and life satisfaction in particular were examined. Data used in this study were derived from the 1978 and 1988 General Social Surveys conducted by the National Opinion Research Center. Sex, age, race, marital status, educational attainment, financial status, and the location of residence are considered as independent variables, and a composite score of subjective well-being is treated as the dependent variable. The perception of well-being was constructed on a cumulative score computed from responses to attitudinal questions in the General Social Survey regarding how happy the respondent was in general, and satisfaction with: (1) the place of residence; (2) non-working activities; (3) family life; (4) friendship; (5) health and physical condition; and (6) financial situation. Stepwise multiple regression analysis was conducted to identify unique effects of each independent variable on the well-being score. Three independent variables had statistically significant regression coefficients: financial status (.265); marital status (.162); and education (.109). On the basis of the results presented in this study, financial status, marital status, and education are the most important factors in the perception of well-being, with race, age, and gender following. No conclusive evidence addresses whether or not metropolitan or nonmetropolitan living has any significant effect on perception of well-being. The paper contains 67 references. (ALL)