Objective: To analyze factors associated with self-rated health in adults. Methods: A population-based, cross-sectional study was performed with a sample of 2,051 adults aged between 20 and 59 years, in the city of Lages, Southern Brazil, in 2007. Household questionnaires were applied to obtain data on self-rated health, socioeconomic and demographic conditions, smoking habit, lifestyle and self-reported morbidities. Blood pressure, weight, height and abdominal circumference were measured. multivariable analysis was performed using Poisson regression, adjusted for the sampling design effect and stratified by sex. Results: Prevalence of positive self-rated health was 74.2% (95% CI: 71.3;77.0), significantly higher in men (82.3%, 95%CI: 79.3;85.0) than in women (66.9%, 95%CI: 63.2;70.7). Poorer, less educated and older men showed higher prevalences of negative self-rated health. After adjustment, high blood pressure levels and reporting chest wheezing were strongly associated with negative self-rated health in men. Prevalence of negative self-assessment was higher in poorer, less educated and older women and in those who showed abdominal obesity. High blood pressure levels, diabetes, chest wheezing and shortness of breath remained associated with the outcome after adjustment in women. The number of morbidities self-reported by women and men showed an association with negative self-rated health. Conclusions: Women and individuals who were older, poorer or less educated considered their health condition to be fair or poor. The higher the number of self-reported morbidities, the greater the proportion of individuals with negative self-rated health; the effect of morbidities was greater in women.