Well-being, as a pivotal sociological construct, serves as a key indicator for assessing mental health, life satisfaction, and the quality of social relations, thereby shaping the overall quality of life among youth. In the context of profound and multifaceted transformations in social structures and value systems transformations that continually reconfigure individual and collective identities the meaning and determinants of well-being have themselves undergone significant change. This study adopts a cross-sectional survey design with stratified random sampling to examine the well-being of young people aged 18 to 35 in Yazd province, Iran, and to identify its principal socio-cultural and economic correlates. Data were collected through standardized questionnaires from 708 participants. Descriptive statistics indicate a moderate to high level of well-being among respondents. Bivariate analyses show positive and significant associations between well-being and variables such as social status, access to life resources, religiosity, individualism, collectivism, and relational agency. Multivariate regression analysis, however, reveals that engagement with virtual and social media spaces exerts a negative effect on well-being. No significant associations were found for gender or educational attainment. Overall, the findings highlight that the well-being of Iranian youth emerges from a complex interplay between individualistic and collectivistic orientations, embedded within the socio-economic and cultural challenges of contemporary Iran. Enhancing youth well-being requires integrated socio-economic and cultural policies that strengthen authentic agency and address both individual and collective needs,.