This study examines the association between variables of satisfaction and characteristics of individuals and their environment with the perception of poverty of Colombians. Using the National Survey of Quality of Life (NSQL) of DANE at year 2011, a logit model of discrete choice and standardized coefficients is estimated for explaining subjective poverty. The results show that although income has the greatest weight in the perception of poverty, having good nutrition is established as the most basic capability for a Colombian to develop other capabilities. Furthermore, situations of violence such as forced displacement have a significant weight in the perception of poverty of those who suffer them. Finally, it is evidenced that Colombians tend to be conformed with their social ties, showing themselves satisfied with aspects of life associated to the capability of functioning in society, even when they consider themselves as poor.