As older people age and weaken physically, communities and neighborhoods become increasingly important in the lives of them. The pathways between these community factors and older adults’ well-being were still unclear. This study explored the relationship and mechanisms between community public facilities, environment, and security and the subjective well-being of older residents. Data were obtained from the China Family Panel Study (CFPS). The study population consisted of 4606 older adults. This study used one-way analysis, linear regression, Shapley decomposition, and mediation analysis. The results indicated that community public facilities, environment, and security had significant positive associations with older adults’ subjective well-being, with a high level of contribution; social connectedness and community sentiment played a chain mediating role in this. This pointed out the positive significance and the specific pathways of community conditions for the subjective well-being of older adults. It also provides reference for community managers and builders. Building a happy Chinese community or a happy Chinese cultural community requires consideration of the needs of the elderly regarding community factors, social interaction, and community integration.
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