To identify the prevalence and its influencing factors on depression among elderly vulnerable people in one urban community. This study used data from 381 of elderly vulnerable people in the community. The prevalence of depression was found to be 51.97%. Multivariate logistic regression analysis shows that depression was more prevalent as people in female gender; people with lower self-esteem compared to those with higher self-esteem; in elderly who perceived lower social support compared to those who perceived higher social support; and in the older adults with limitation in instrumental activity of daily living. The finding of a significant association between gender difference; self-esteem; perceived social support, and limitation in instrumental activity of daily living and occurrence of depression expected to promote the screening strategy for elderly at risk of depression in Korean community.