Recent scholars have highlighted the relative lack of research on sexual and gender minorities, and indicate that even less is known about sexual and gender minorities of color. Utilizing the resiliency and intersectionality perspectives of minority stress, this study seeks to address this gap by examining the effects of community and individual resilience on psychological well-being among gay, lesbian, bisexual, transgender, and queer (GLBTQ) people of color in emerging adulthood. Specifically, the extent to which perceived family support, GLBTQ community involvement, and perceived neighborhood homophobia are associated with psychological well-being is examined; as well as the extent to which sexual identity prominence and outness explain these associations. Utilizing data from a national sample (N = 941), our results highlight the direct effects of community resilience on psychological well-being as well as the mediating effects of sexual identity outness. In addition, perceived neighborhood homophobia was negatively associated with sexual identity outness and psychological well-being, and positively associated with sexual identity prominence. Moreover, results were not significantly different based on race, gender, and sexual identity groups. Potential processes driving these findings, as well as future directions and implications are discussed.