This study examines the relationship between perceived stress, nonverbal cognitive functioning, and statewide academic scores in both Latinx and European American elementary students in rural school districts. A total of 44 third graders participated in the study, including 13 Latinx students and 31 European American (EA) students. Perceived stress was self-reported by the Perceived Stress Scale for Children (PSS-C). A nonverbal measure of cognitive ability (The Wechsler Nonverbal Scale of Intelligence) was administered individually to each student, and statewide academic testing results were obtained for all participants. Latinx and EA children self-reported comparable rates of perceived stress. Both groups obtained similar nonverbal cognitive composite scores, but with distinct subtest differences. Both groups scored similarly on statewide standardized testing for math, although the EA group scored higher than the Latinx group on English. Binomial tests of differences between correlations revealed that relationships among perceived stress, nonverbal intelligence, and academic achievement differed significantly for the Latinx and EA students. Academic achievement for Latinx students is correlated with lower perceived stress and higher nonverbal cognitive ability, including overall ability and the "matrices," "coding," and "spatial span" subtests. For European American children, academic success is correlated with higher nonverbal scores on the "matrices" and "picture arrangement" subtests but is not related to perceived stress. Thus, ethnicity may differentially impact the relationship between perceived stress, nonverbal IQ, and academic achievement in rural elementary students, based in part on culturally relevant contextual factors.