The study data were obtained from the National Crime Survey, with only the data from the national sample conducted between 1973 and 1976 used. Victimization is measured on the basis of seven selected crimes, including attempts. Only respondents 65 years-old or older are included in the analysis. The effects of victim characteristics and the environment on the risk of personal victimization were examined. The independent variables were age, sex, race, marital status, education, family income, and community size. A negative relationship between age and victimization was indicated; as age increases from 66 to 80, the probability of victimization decreases from 12 per 1,000 to 9 per 1,000. Community size is one of the most significant determinants of the risk of victimization. Victimization among the elderly varies significantly according to factors other than age influencing victimization. This analysis permits estimation of the probabilities of personal victimization for various subgroups of the elderly. Policy implications from the findings are that (1) crime prevention or control programs should be targeted for high-risk groups of the elderly; (2) the use of age-specific rates of victimization as the sole basis for policymaking is inadequate; and (3) reduction of fear of crime should be a policy goal. Tabular data and 20 references are provided.