This study examined which residential conditions increase older adults’ life satisfaction at home. We used data from 8903 participants over 65 years old who did not need help in their daily lives from a 2020 survey of older adults conducted by the Korea Institute for Health and Social Affairs. Data analysis was conducted using descriptive statistics, independent sample t-test, Pearson correlation analysis, and hierarchical multiple regression with weights. The final model explained 34.2% of life satisfaction in old age. Residential conditions that increased life satisfaction the most in old age were the community environment (β = 0.16, p < 0.001) and satisfaction with the house (β = 0.15, p < 0.001). Other conditions that significantly affected life satisfaction were safety (β = 0.08, p < 0.001), interaction with neighbors (β = 0.08, p < 0.001), distance from children or relatives (β = 0.08, p < 0.001), frequency and route of public transportation (β = 0.05, p < 0.001), and abundance and distance of green spaces (β = 0.02, p = 0.031). Housing welfare policies should consider these results to increase life satisfaction for an increasingly aging population. Moreover, these data can be used to design age-friendly community environments.