This study investigated contextual determinants of happiness such as spatial, socio-economic, and socio-political factors, as well as individual determinants. Using samples from the Seoul Survey, the study applied multilevel analyses separately to the whole sample, a cohort of the upper class, and a cohort of the lower class. It demonstrated that spatial, socio-economic, and sociopolitical contexts have an impact on individual happiness; however, negative externalities caused by social comparison exist only in people in the lower social class, while those in the upper class feel happier with a higher degree of economic prosperity. Natural amenities such as green spaces and political participation (measured by voter turnout) have a positive impact on the level of happiness regardless of social status. In order to raise the general level of happiness, public policy should focus more on these contextual determinants, especially non-material determinants.