This study aims to identify and analyse the causal effects of various socio-economic and demographic factors on the satisfaction with the lives of Medellín households. To this end, we estimate a logistical model, categorising the explanatory variables into two groups: the inherent features and the characteristics associated with them. The main findings suggest that being unmarried in relation to another civil status has a negative effect on subjective well-being, as well as being afro-descendant relative to another ethnic group. On the side of having, it should be noted that higher levels of education and socio-economic strata increase subjective well-being. It is concluded that both the characteristics of being and of having are key to explaining satisfaction with life, and thus to public policy decision-making.