X-ray scattering and rheology are employed to study the volume fraction dependence of the collective structure and elastic moduli of concentrated nanoparticle-polymer depletion gels. The nonequilibrium gel structure consists of locally densified nonfractal clusters and narrow random interfaces. The elastic moduli display a power law dependence on volume fraction with effective exponents that decrease with increasing depletion attraction strength. A microscopic theory that combines local structural information with a dynamic treatment of gelation is in good agreement with the observations.