This paper explores the links between the quality of the place of living, social participation and well-being in older age using data from the Household, Income and Labour Dynamics in Australia (HILDA) survey. Using nine waves of the data, random effect models are estimated to isolate the ‘net effect’ of the place of living on social participation and well being, while controlling for a number of background factors. The findings suggest a strong effects of subjective evaluations of individual housing and local area on well-being outcomes and, at the same time, a lack of similar effects in the case of more objective measures. This indicates that how older people feel about their living environment may play an important role in enabling them to fully participate in society and achieving personal well-being. At the same time, more research into objective conditions of housing and local area is needed to fully understand the links between living environment and outcomes in older age.