This study examined parents' perceptions of how school and neighborhood contribute to the psychological wellness of their 6- to 12-year-old children. Content analysis of 260 interviews explored parents' perception and identified the key aspects of school and neighborhood. At school, two assets stood out: emotional support and a supportive learning milieu. Qualities that parents valued about the neighborhood included child-friendliness, environmental amenities, and the presence of cordial and supportive neighbors. Parents living in disadvantaged neighborhoods differed on many points in their perceptions from parents living in wealthier neighborhoods, reflecting disparities in the environments in which they live and raise their children. (Contains 4 tables and 3 footnotes.)