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If the subjective well-being (SWB) of a population has reached saturation in terms of consumption, it becomes difficult to increase SWB through consumption. Previous studies have shown the existence of such saturation in some developed countries. However, little is known about applications for developing countries due to a lack of data. Thus, this study investigates whether a difference in the relationship between consumption and SWB exists between urban and rural areas in Vietnam. We apply the generalized additive models that allow a non-linear functional form to demonstrate the detailed relationship between consumption and SWB. Our results for Vietnam show that saturation, in terms of material consumption, exists for urban areas, while there is a negative relationship between material consumption and SWB in rural areas. In addition, we find a positive relationship between relational consumption and …