High-rise and high-density apartment complexes have been built and supplied on a large scale in metropolis and metropolitan areas since the 1980s in order to solve housing shortage in cities. It has become necessary recently to maintain and improve those apartment complexes which have serious deterioration problems for aging more than 20 years accompanying simultaneity and a large scale. The purpose of this research is to develop the overall evaluating indicators to measure the level of deterioration of apartments inclusively and practically in order to regenerate apartment housing as sustainable residential environments. This research is composed of a two-stage study (to develop the evaluating indicators based on a conceptual model and the measure for indicators based on an empirical study). This study is the first stage of the research developing the overall evaluating indicators. This study was conducted by a method of literature review based on variety preceding researches and the reports related to evaluating indicators. First, the concept of deterioration of apartments was defined, and a pool of evaluating indicators of housing performance was found. The pool was developed based on existing indicators used in Korea and foreign countries and preceding studies (about components of apartment environments and residential satisfaction). Lastly, a conceptual model structured with a hierarchy was suggested. The model was composed of the categorized evaluating indicators according to the high-density and high-rise apartment situation in Korea. Those were characterized by evaluating categories such as the evaluating dimensions (physical, social, and economic), the 3 evaluating attributes according to each dimension, and the total 80 evaluating items.