"Research Findings:" This study examined how family socioeconomic status and home environment may help explain the indirect relationship between parental migration status and rural Chinese children's holistic development. A total of 198 preschool-age children and their primary caregivers were recruited from three rural preschools in Jiangsu Province in China. The results indicated that parental migration was negatively associated with family socioeconomic status. When the family's socioeconomic background is low, the less favorable and stimulating home environment the family can provide for children, resulting in detrimental effects on the child's development. The findings not only provide support for the family system theory to explain the relationship between parental migration and child development, but also reveal family socioeconomic status and home environment as potential sequential pathways. "Practice or Policy:" The study calls for attention to children's development in rural China, considering the complexity of the parental migration status. The findings can facilitate rural parent education in the context of rural education revitalization. Primary caregivers in rural areas should become aware of the critical value of a family's structural and process factors, adjust their parenting attitudes and behaviors, create a positive home environment for the child, and eventually align to reduce the risk factors and enhance the well-being of rural children.