Today, cities place important value on “Sustainable Cities” and “Cities for all”, concepts which mean that consideration for people with disabilities has become an essential element in urban planning and development. Moreover, the number of people with disabilities living in cities is steadily growing. In this context, the purpose of this study was to compare the happiness levels of people with and without disabilities living in Seoul, using the Seoul Survey data provided by the Seoul Metropolitan Government, and to identify a structural model of urban factors that affect the happiness of people with disabilities. Under this purpose, a partial least squares multi-group analysis (PLS-MGA) was conducted by setting up an analysis model (disabled group) and a contrasting model (non-disabled group) to determine differences between the groups (disabled and non-disabled). The results of the analysis were as follows. First, unlike in the non-disabled group, in which all factors had a significant effect on the levels of happiness, only a few factors were significant in the disabled group (the private, residential, and culture and leisure characteristics were not significant). Second, compared to the non-disabled group, social capital, urban safety, and living environment satisfaction were more important than personal attributes in the disabled group. Third, the relationship between the happiness levels of people with disabilities and urban factors was multidimensional rather than unidimensional. Fourth, the two groups differed in their structural models and pathways, and the differences were statistically significant. The present study made significant academic and policy contributions as it investigated the levels of happiness of people with disabilities living in the city and their perceptions of the city and used PLS-MGA to identify the multidimensional relationship between urban factors and happiness level.