Research over the past decade has documented declining rates of marriage among African Americans and has identified constrained mate availability as a key determinant of this change. Many see Black marital decline as rooted in the deteriorating economic circumstances of significant segments of the African American population (especially males), as well as high male mortality and institutionalization. Discussions of the impact of diminished marital opportunity have focused on its societal consequences, with a particular emphasis on community-level outcomes. However, to date, there has been virtually no discussion of the mental health implications of limited marital opportunity. To the extent that marriage is still highly valued by most Americans, African Americans included. How does the recognition that one may not be able to assume a highly salient adult role affect subjective well-being? This article addresses the relationship between perceived marital opportunity and psychological well-being, as measured by depression, anxiety, loneliness, life satisfaction and relationship satisfaction, using data on single African American, Latina, and White women from the 1989 Southern California Social Survey. Our findings indicate that a perceived lack of availability is strongly associated with greater depression, anxiety, loneliness, and less satisfaction with life. The effect across all four dependents was strong and pervasive for Latinas and White women, but either weak or nonexistent for African American women. The correlation findings were supported by multiple regression analyses. Findings were interpreted as indicating that when the perception of mate availability is viewed as individually rooted and driven (an internal attribution), as was the case of both Latinas and White women, the consequences of psychological well-being are negative. When mate availability is viewed as a systemic feature of the environment over which one has little control (an external attribution), as was the case for Black women, mental health will not be affected. It is also suggested that single Black women have a greater range of positive role models, which are less available to other groups of women.