Building on value socialization and personal values theories, this study examined adolescents' open‐ended reports of the values their families emphasize. Based on open‐ended reports of an ethnically and socioeconomically diverse sample of adolescents, we described adolescent‐reported familial values using qualitative and cluster analysis techniques. Adolescents' open‐ended responses about the values held by their families were coded using a prominent circumplex value model, and values largely, but not completely, aligned with this model. Using person‐oriented cluster analysis on the coded data, seven distinct value clusters were identified that captured various sets of values that adolescents hear from families. Several demographic differences emerged among the clusters, and mean differences by familial value cluster were found for adolescents' close‐ended reports of values of helping others and religiosity. Results suggest that adolescents are able to articulate values emphasized in their families in ways that fit a universal structure of values; these values are related in meaningful ways to the values that they themselves want to live by.