NATIONAL VICTIMIZATION SURVEYS HAVE SHOWN THAT ELDERLY PERSONS ARE MORE FEARFUL OF PERSONAL CRIMES THAN ARE YOUNGER PERSONS, WHO ARE FAR MORE LIKELY TO BE VICTIMIZED BY SUCH CRIMES. THOSE FINDINGS HAVE LED TO THE CONCLUSION THAT THE BEST APPROACH TO DEALING WITH FEAR OF CRIME AMONG THE ELDERLY IS TO ALLAY THEIR ANXIETIES. HOWEVER, A NEIGHBORHOOD-BASED STUDY IN WHICH TELEPHONE INTERVIEWS WERE CONDUCTED WITH 1,600 ELDERLY RESIDENTS OF 8 NEIGHBORHOODS IN 4 CITIES FOUND A LINK BETWEEN FEAR OF CRIME AND ACTUAL VICTIMIZATION EXPERIENCE. THE RESPONDENTS WHO WERE MOST AFRAID OF CRIME WERE THOSE WHO LIVED IN THE MOST DANGEROUS NEIGHBORHOOD. RESPONDENTS WHO LIVED IN THE SAFEST NEIGHBORHOOD WERE LEAST AFRAID. IN A COMPARABLE STUDY OF ELDERLY FLORIDIANS, MIDDLE-CLASS, WHITE, NONURBAN RESIDENTS WERE LESS AFRAID OF CRIME AND LESS LIKELY TO HAVE BEEN VICTIMIZED THAN WERE THEIR BLACK, INNER-CITY COUNTERPARTS. THESE FINDINGS DO NOT EXPLAIN WHY ELDERLY RESIDENTS OF RELATIVELY SAFE NEIGHBORHOODS ARE MORE AFRAID OF CRIME THAN ARE THEIR YOUNGER (AND STATISTICALLY MORE VULNERABLE) NEIGHBORS. THE FACT THAT A PERSONAL ATTACK REPRESENTS A FAR GREATER THREAT TO MOST ELDERLY PERSONS THAN TO YOUNGER PERSONS MAY ACCOUNT FOR THIS DIFFERENTIAL. THE ELDERLY'S FEAR OF CRIME REFLECTS THEIR RECOGNITION OF EXTERNAL REALITIES (WHICH DIFFER FROM SUBGROUP TO SUBGROUP) AND INTERNAL REALITIES (THE DIMINISHED PHYSICAL CAPACITY ASSOCIATED WITH ADVANCED AGE.) IT APPEARS THAT THE ELDERLY ARE NO MORE OR LESS IRRATIONAL IN THEIR FEARS OF CRIME THAN ARE THEIR YOUNGER NEIGHBORS. SUPPORTING DATA AND A LIST OF REFERENCES ARE INCLUDED. (LKM)