To foster sustainable human settlements, it is essential that design, construction, and operation of structures minimise environmental impacts and advance social equity and economic viability in parallel. However, while environmental and carbon footprints are matter of intensive research to date, little effort has been put on understanding the “socio-economic footprint” consequences of using materials and structures. Historically, materials’ structural performance parameters like strength and durability were major assessment criteria. Today, in the light of increasing climate awareness, environmental aspects have become pivotal in addition to safety and performance. However, for sustainable habitat development, there is more to materials than efficiency and environment. There is also a socio-economic component. Even with lowest carbon materials, structures can be wasteful, if they are not built for people, as their use phase is limited. Materials and architecture, thus, must secure identity, local livelihoods, and longevity of use. However, unlike technical parameters that are clearly defined and more like economic parameters, these “soft” criteria are difficult to define, and in addition there is a variety of aspects to consider. The paper discusses the challenges linked to the development of assessment criteria for a socio-economic footprint with a special focus on the wealth and power gap between differently industrialised countries. Different concepts will be discussed in context of their suitability for life cycle assessment. Eventually, approaches for clearly identifiably parameters based on economic numbers, numbers of beneficiaries and knowledge gain will be proposed as baseline for future research and development.