This article employs the experienced preference method to value the state of water in New Zealand. In doing so, this article represents a clear contribution to both the literature on non-market valuation and public policy regarding the preservation of water quality. The results show that a one-unit increase in satisfaction with the state of water bodies an individual has visited, is associated with a 1.6 per cent greater likelihood to report being very satisfied with their life. This positive link is robust to the estimation technique employed and a range of control variables. We find the value depends greatly on the functional form imposed on income. Specifically, the use of a cube root functional form yields an implicit willingness-to-pay (WTP) estimate of NZD 11,003, approximately half the size of the base model estimate. Uniquely, we couch this point estimate in the context of a broader distribution of implicit WTP estimates. It is hoped that these results will inform future applications and development of the experienced preference method and support public policy.