The current study aims investigate the relationship between participants’ neighbourhood perceptions and social capital and resident well-being using data from the Neighbourhood Renewal Project (NRP; n = 7855). Resident well-being was positively associated with the quality of the physical environment and safety of the neighbourhood, but negatively associated with government trustworthiness and community connections. Life satisfaction had a positive relationship with community connections, resident well-being, as well as quality of community services and safety. We conclude that free or low-cost opportunities to engage and connect with neighbours through participation in activities such as sporting groups, volunteer organizations, and leisure/hobby groups may increase life satisfaction of individuals in a neighbourhood, particularly for those living in low socioeconomic or stigmatized areas.