This study applied the Behavioral Model for Vulnerable Populations framework to examine the correlates of depression and the receipt of medical treatment among low-income Hispanics and African Americans residing in public housing. We compared three groups: those who reported (1) self-diagnosed but without physician-diagnosed depression, (2) depression diagnosed by a physician but who did not receive pharmaceutical treatment, and (3) depression diagnosed by a physician and antidepressant pharmacotherapy consumed by patient. Random samples of 287 adults from three public housing communities were surveyed. Over 48% of this sample reported that they were suffering from depression. One out of three people who reported being depressed also said that a physician had never diagnosed his or her condition. Only 40% of those who said that a physician had diagnosed depression also reported taking antidepressant medication. Untreated depression among underserved racial and ethnic minorities is alarming and points to an urgent need for intervention.