Across nations, housing insecurity has been shown to affect life satisfaction. However, it is unclear (a) for whom housing insecurity affects life satisfaction and (b) whether and how housing systems moderate the association between housing insecurity and satisfaction. This study aims to reduce such knowledge gaps. We used data from the Gallup Poll that collects socioeconomic status and living standards from 158,765 individuals in 32 countries between 2016 and 2022. Multi-level regression was conducted to estimate the association between housing insecurity and life satisfaction, and the moderating effects of individual level employment status and country level housing systems. Housing insecurity significantly predicts a decrease in one’s life satisfaction. However, the association between housing insecurity and life satisfaction is moderated by individual level employment status and country-level housing characteristics. In low homeownership countries compared to high homeownership countries, the impact of housing insecurity on life satisfaction is more attenuated for part-time workers than for full time workers. Similar results are found for countries with a larger social housing stock when compared to those with lower stock. Investing in social housing not only reduces housing insecurity, but it is also conducive to mitigating the impact on the life satisfaction of the socioeconomically disadvantaged.