The current study aims to examine predictors of subjective health, including its relation with happiness, at the individual and family levels. For this purpose, we analyzed data collected from spouses representing each family (9,634 families, N = 19,268). A multilevel analysis was conducted to examine both individual- and family-level variables associated with subjective health evaluations. Individual-level variables were gender, age, education, employment, presence of chronic illness, smoking, alcohol use, and individual happiness. Family-level variables were socioeconomic status, number of children, household size, length of the marriage (in a year), presence of an elderly person who needs care in the household, presence of a disabled person who needs care in the household, and family happiness. The results showed that subjective health is enhanced by being man, younger, employed, highly educated, free from chronic illness, and experiencing greater levels of happiness at the individual level. In addition, poorer subjective health is associated with caring for an elderly or disabled family member and having a higher number of children in the household at the family level. However, individuals had better subjective health at the family level when socioeconomic status was higher, greater family happiness, and greater household size existed. The current study is important since research that simultaneously considers individual- and family-level happiness has been scarce in the literature. Thus, the findings would enhance the current understanding of the link between happiness and health.