Living standards are influenced by several variables. In the submitted paper, they are divided into eight main groups based on analysing alternative indicators of living standards – public life, place of residence, economic area, educational area, health care, environment, interpersonal relationships and personality. The main source of the data is represented by the results of a questionnaire survey performed in 2013 and 2014 in the Czech Republic, focused on elicitation of inhabitants’ opinions about how much 99 individual variables influence their living standards. Using Principal Component Analysis, there were seven factors created out of the assessed variables. They should be reflected by a complex assessment of living standards.