The purpose of this study was to examine the role of aggressive behavior, anxiety, and peer rejection as multilevel indicators of peer victimization. A cross-sectional sample of 1,115 Finnish 9th grade students nested in 76 classrooms (mean age 15 years) were used to conduct multilevel models. All forms of psychosocial maladjustment, as well as student family economy, were found to predict peer victimization within classrooms. In addition, classrooms with more aggressive behavior and a higher proportion of rejected students suffered more peer victimization, beyond compositional effects of aggressive and rejected students being victimized.