Housing in the city of Lagos has attracted much more interest and also a growing concern locally, nationally, or internationally, either in terms of shortage of supply or deterioration in the quality of the existing stocks with great effects on residents' well-being in Ajegunle, Ajeromi-Ifelodun LGA of Lagos. The study assessed housing quality effects on residents' well-being, evaluate existing housing condition, assesses socio-economic characteristics of the residents' and identified factors responsible for the existing housing condition. A total of 103 questionnaires were administered using systematic random sampling techniques. Data were further analyzed using simple descriptive analysis and inferential statistical tools. The hypothesis was tested using chi-square and regression analysis. Findings showed that; the general housing condition in the study area is bad; the socio-economic characteristics of the residents' is poor; there is a significant relationship between housingcondition and socio-economic characteristics of residents and housing condition has significant effects on resident's well-being. Hence, the study concludes that housing quality ... is poor.