The moderating effect of neighborhood crime and income on associations between parenting and child outcomes was estimated longitudinally for African-American (n=50), European-American (n= 59), and Latino-American (n=52) elementary school-age children. On average, restrictive parenting values were negatively associated with academic performance and positively associated with depression, and supportive parenting practices were positively associated with academic performance. For European-American children, the negative effect of restrictive values was exacerbated in riskier neighborhoods. For African-American children, on the other hand, more restrictive values were a protective factor in riskier neighborhoods, at least regarding their academic performance; this protection, however, diminished as children grew older. In addition, supportive parenting was a protective factor for African-American children living in dangerous and impoverished neighborhoods. For depression, this protection increased as children grew older. Parenting effects for Latino-American children were similar to those for African-American children, although generally less pronounced.