ABSTRACT Research has demonstrated that natural disasters, like flooding that are increasing with climate change, can have profound mental health effects. Moreover, these outcomes are not experienced evenly across the population with disadvantaged populations like racial/ethnic minorities and lower socio-economic status individuals being more likely to report psychological diagnoses and symptoms related to floods. However, the mechanisms that could account for the link between social vulnerability and worry about the threat of flooding remain poorly understood. In this analysis, we use a 2022 survey of Houston-area residents to examine how perceived flood risk and subjective flood preparedness relate to racial/ethnic differences in worry about the threat of flooding. We find that both individual-level and area-level race/ethnicity are significantly related to greater worry about the threat of flooding. Further, this is partially mediated by perceived flood risk, but not subjective flood preparedness. This suggests that policies and infrastructure priorities that reduce risk rather than prepare households for flooding would accomplish more in closing the gap in social disparities in mental health outcomes from flooding.