In today’s rapid urbanization process around the world, understanding the impact of environmental parameters on urban dwellers’ wellbeing is more important than ever. In this paper, we explored the influence of 3D spatial and physical factors on the wellbeing of urban dwellers. Twenty-one virtual environments comprised three street sections, five building morphologies, and two densification rates, and were rated by 147 study participants. Our findings indicate that all three parameters (street sections, building morphology, and density rates) can be used to independently predict urban wellbeing. This research presents a milestone in understanding the complex relationships between street sections, building morphology, and perceived density on urban wellbeing. The outcomes of this study can be implemented by urban designers, architects, and researchers, with the aim of creating more wellbeing-centered urban designs.