Sociological research indicates that race and SES combine in complex ways to affect health. There has been some debate regarding the advisability of race-specific versus universal initiatives to improve outcomes for vulnerable social groups. Extant research that clearly documents residual effects of race, at every level of SES suggests that race-specific strategies are needed to improve outcomes for disadvantaged racial groups. The research reviewed here indicates that both the legacies of racism and its continued manifestations matter for health. For example, unless and until serious attention is given to addressing institutional racism such as residential segregation, reducing racial inequities in health will likely prove elusive. More research and policy attention should be given to identifying and implementing individual and especially institutional interventions that would be effective in reducing the levels and consequences of racism in society. For instance, state- or federal-level policies that expand the stock of safe, stable, low-income and mixed-income housing or funding for section 8 vouchers could increase access to high-opportunity neighborhoods, while more robust enforcement of housing and financial regulations could help curb predatory lending and housing discrimination practices in minority or underserved neighborhoods.