This article analyzed perceptions of neighborhood violence of Spanish adolescents (N = 1,015) from authoritative, authoritarian, indulgent, and neglectful families, and its association with three sets of developmental outcomes (psychological, behavioral, and academic). Tests of main and interactive effects were conducted to answer research questions regarding the potential moderating role of perceived neighborhood violence on the relationship between parenting styles and developmental outcomes. Results yielded only main effects of parenting styles and perceived neighborhood violence on developmental outcomes, as well as an interaction between gender and perceived neighborhood violence. Parenting styles and perceived neighborhood violence made an independent contribution to adolescent outcomes. Adolescents from authoritative and indulgent families were those who performed better in all developmental domains examined, and adolescents who perceived their neighborhoods as violent performed worse in all outcomes. Results suggested, however, that irrespective of parental behavior, perceived neighborhood violence was a developmental risk in adolescence.