This study investigates positive local news as a moderator of the effects of perceived neighborhood conditions on depression. Data from an online survey of Chicago residents indicate that the relationship between fear of crime and depression is weaker for respondents who pay more attention to positive local news. Data also reveal that the indirect relationships that perceived neighborhood disorder and crime have with depression through fear of crime are weaker as attention to positive local news increases. Implications are discussed for the role of positive news as a protective factor for mental health.