Japan is famous for its earthquakes. To examine effects of earthquake risk on quality of life of households, we estimate the quality of life index (QOLI) considering earthquake occurrence probability, and examine the regional differences of the QOLI among Japanese cities. We first estimate the hedonic price models of wage and housing rents using the household longitudinal data covering all Japan, and then estimate the QOLI. From the estimated results, we find that the earthquake risk has significant impacts on householdsí QOLI, and that there are large differences in QOLI among cities in Japan. We propose local government policies to prepare for earthquake risks in each city based on our results.