This study examines relationships between family and neighborhood income and depressive symptoms, life satisfaction, and financial satisfaction among first‐generation immigrant Dominican (N = 255), Puerto Rican (N = 242), and Mexican (N = 212) adults. Results from random intercept regression models revealed family income to be consistently predictive of outcomes across samples. However, this relationship was moderated by neighborhood income. The interaction between family and neighborhood income was related to life satisfaction among Puerto Rican and Mexican samples and to financial satisfaction among all three samples, although the shape of the interactions differed. For lower income Dominican and Puerto Rican adults, living in a higher income neighborhood was associated with increases in satisfaction. In comparison, living in a higher income neighborhood was associated with decreases in satisfaction among lower income Mexican adults. Access to neighborhood resources and social comparisons are proposed as potential underlying mechanisms.