This study explored relations between culturally relevant stressors (i.e., urban hassles, perceived discrimination) and subjective well-being (SWB; i.e., positive/ negative affect, life satisfaction) to examine whether ethnic identity and/or coping strategies would serve as moderators of the relations between stress and SWB for 157 urban, ethnic minority adolescents. Ethnic identity moderated the relation between perceived discrimination and life satisfaction. Self-distraction coping moderated the relation between urban hassles and negative affect. This article discusses implications for school counseling prevention and interventions. (Contains 4 tables.)