Feelings of depression and anxiety appear to be on the rise, according to data.
The latest figures on wellbeing from the Office for National Statistics (ONS) show that some areas of life are getting better, with more people in work, a rise in household and disposable income and fewer people saying they struggle financially.
But satisfaction with health is on the decline and levels of anxiety and depression appear to be rising, the data shows.
Some 29.2% of people in 2015/16 reported very high levels of satisfaction with their lives overall, similar to the previous year.
Some 9.1% in 2013/14 - the latest figures available - said they struggled financially, down one percentage point on the previous year.
There was also a drop in those saying they are not in education, employment or training (neets), to 11.7% between April and June 2016, down from 12.6% for the same period the year before.
But there was less satisfaction with health. In 2013/14, 44.6% of people said they were mostly or completely satisfied with their health, down from 46.4% the year before.
And 19.7% said they had experienced anxiety or depression, up from 18.3% the year before.
The ONS data also showed a fall in those reporting trust in their national government and fewer people said they felt they belonged to their neighbourhood.
Overall, from 43 national wellbeing indicators, 10 improved, four deteriorated and 22 stayed the same compared with a year earlier, the ONS said.
Nia Charpentier, from Rethink Mental Illness, said: "One in four of us will experience a mental health problem in our life, and conditions such as anxiety and depression, as this data shows, are extremely common.
"It is important to acknowledge that there is no single cause for these conditions, but factors such as lifestyle, stressful events like financial difficulties or a relationship breakdown could increase the likelihood of someone having problems with their mental health.
"If you or someone you know are worried about depression, anxiety or any other mental health problem, remember that help is at hand. You can see your GP, or get in touch with Rethink Mental Illness advice and information service."