This selective, critical literature review synthesizes recent research exploring disability-based disparities in the subjective well-being and living conditions of youth in high-income countries. Compared with their non-disabled peers, disabled youth report lower levels of happiness, lower global life satisfaction and higher rates of suicidal ideation. Emerging evidence suggests that the relatively poor subjective well-being of disabled youth reflects, at least in part, differential access to material and social resources rather than the presence of chronic conditions or impairment per se. These findings indicate that disability-based disparities in youth subjective well-being are socially patterned and preventable.