The local (nonlocal) content in the sense of Elitzur, Popescu, and Rohrlich [ Phys. Lett. A 162 25 (1992)] is a natural measure for the locality (nonlocality) of quantum states. Its computation is in general difficult, even in low dimensions, and is one of the few open questions about pure two-qubit states. We present a complete solution to this long-lasting problem.