This paper examines speech privacy in both residential and commercial spaces. The ASTM E2638 standard defines the Speech Privacy Class (SPC) parameter, which measures speech privacy based on the signal-to-noise ratio at the listener’s position. This paper proposes estimating the SPC value using relevant ISO parameters commonly used in European practice: the apparent sound reduction index in dB (defined by ISO 16283-1, 2 standards) and the equivalent ambient noise level in dBA (defined by the ISO 1996-1 standard). The estimated value of the SPC parameter in this paper is referred to as the Speech Privacy Index (SPI). A diverse range of situations, i.e., rooms, was analyzed in the field. These rooms varied in terms of purpose, organization, dimensions, furnishings, isolation from other spaces, and internal and external environments. The results of the experiments demonstrate a strong correlation between the SPC value estimated according to ISO parameters (the proposed method) and the SPC as defined in the ASTM E standard. This indicates that the proposed method can provide an indicator of the state of speech privacy in buildings. The significance of the proposed calculation method (i.e., the STI parameter) lies in its ability to be applied at the building design stage, as well as after its completion, during routine testing.