Starting with analyzing characteristics of the management for life cycle of metering properties, this paper aims to lifetime prediction and healthy level evaluation. First, analyze every reasonable and potential elements for all the effect on metering assets’ lifetime, and define the clear concept of benchmark values of metering assets’ lifetime. Then, using the principal component analysis to eliminate the phenomenon of multiple co-linearity and based on these, we predict the metering asset’s lifetime with the theory of multiple factor line regression methods. Finally, comparing the predicted lifetime with the benchmark value, the status health level of metering asset can be got. In the exam of the realistic cases, this method works quite effective for both metering assets’ lifetime prediction and status level evaluation.