This study asks whether exposure to interpersonal racism suppresses the health benefits of living in high-status neighborhoods for Black Americans. I use structural equation modeling techniques to analyze biosocial data from a diverse sample of working-age Black adults from Nashville. Consistent with past research, I find that Black residents of disadvantaged and mostly Black neighborhoods initially exhibit increased levels of neuroendocrine stress hormones. However, their peers in privileged White neighborhoods report more chronic exposure to interpersonal racism, and related anticipatory strains, which also predict increased stress hormone levels. After accounting for racism-related stressors, Black residents of higher status neighborhoods exhibit similar stress hormone levels as their disadvantaged peers. Living in underprivileged areas can tax the brain and body. But so, too, can living in high-status communities when individuals are regularly treated with contempt and suspicion by others. The broader substantive and methodological implications of these findings are discussed.