Despite the recent growth in multiracial children among American children, we know very little about their well-being. Using the Early Childhood Longitudinal Study, Kindergarten Class (N = 17,706), we evaluated the likelihood of living in poverty and near poverty for multiracial and monoracial children. Most multiracial groups have poverty or near poverty rates that are in between Whites and their respective minority monoracial counterparts, with Asian-Whites reporting a risk of poverty equivalent to Whites and Black-Hispanics reporting risks as high as Black and Hispanic children. Family structure and educational and occupational attainment characteristics explain some or all of the White/non-White differentials in poverty for multiracial groups, even as monoracial children still exhibit higher risk than Whites. We consider these patterns' implications for practitioners working with low-income families.