This paper aims to take a holistic approach to studying fear of crime by testing predictors at multiple levels of analyses. Data from the European Social Survey (N = 56,752 from 29 countries) were used to test and extend the Income Inequality and Sense of Vulnerability Hypotheses. The findings confirm that (1) individuals in societies with greater income inequalities are more fearful of crime, and (2) older or disabled people as well as women report greater fear of crime. Contrary to the hypotheses, ethnic majority and not ethnic minority members report greater fear of crime, if they reside in high income inequality countries. It is further demonstrated that fear of crime explains the inverse association between income inequality and subjective well-being in this particular subsample.