To provide a compact and lightweight vehicle height adjusting device suppressing increase in the unsprung weight of a vehicle body.

The vehicle height adjusting device adjusts the height of a vehicle by extending/retracting a spring, which is interposed between a vehicle body and an unsprung member, from one end of it. The vehicle height adjusting device includes: a stator holding member fixed to the vehicle body or the unsprung member and holding a stator; a cylindrical rotor holding member provided rotatably along the outer periphery of the stator holding member and holding a rotor with a diameter larger than the outer diameter of the spring; and a lower ring having an outer peripheral surface forming a ball screw mechanism together with the inner peripheral surface of the rotor holding member and a spring seat abutting on the spring.