The paper seeks to determine the factor of urban housing values and their effects on the well-being of urban residents in terms of access to potable water, quality sanitation and other housing amenities. The study uses a total of 36 variables on structural, environmental and neighborhood attributes from the 2010-2011 survey data on income, expenditures and living conditions for the Rwandan urban households. With the use of the semi-log form of the hedonic price model and the survey data, factors of urban properties are determined and quantitative estimates of the Willingness-to-pay for environmental amenities are determined. The analysis of the results show that residents give greater value to environment amenities. The coefficients for access to potable water, quality sanitation, and electrical connections are statistically significant and positively affect urban property prices. Quantitative estimates of the Willingness-To- pay indicate that urban residents are willing to pay more to access attributes that maximize their utilities.