The housing problem is a significant perspective from which to examine wealth disparity and social stratification, and it is also a major issue concerning people’s well-being that has drawn broad public attention. “Making homes affordable” has always been a common goal for governments at all levels. In 1978, the per capita floor space of urban residents in China was only 6.7 m2. Since the adoption of the reform and opening up policy, especially since the market-oriented housing reform in 1998, the problem of a serious housing shortage has been basically solved, and the housing conditions for urban residents have been significantly improved. By the end of 2012, the per capita floor space of urban residents in China had reached 32.9 m2. However, it should be noted that the increase in per capita floor space only means that the housing conditions for residents have been improved to some extent, while it does not mean that people are bound to be very satisfied with their dwelling status. As people’s incomes increase, their demand for high-quality living spaces is growing, and their requirements for housing and living environments are also rising. In the past, sociologists tended to study housing issues from the perspectives of social stratification and social mobility (Szelényi, 1983; Bian et al., 1997; Jingming Liu & Lulu Li, 2005). The theory of “housing class” originating from the UK failed to arouse the attention of domestic scholars for a long period of time. In recent years, although some scholars have attempted to explore this theory, no mature empirical studies have emerged to test it out. In this chapter, what will be discussed are the factors affecting urban residents’ satisfaction with their housing in China based on the theories of housing class and social stratification, and how the factors such as housing class, social status and community characteristics affect urban residents’ satisfaction with their housing through one- to multi-dimensional line regression analysis of national survey data. Finally, conclusions are drawn and corresponding policy recommendations are proposed.