In the current study, we conduct an exploratory study on children’s emotional and physical health in response to the COVID-19 pandemic. The direct and interactive effects of parental stress, family socioeconomic status (SES), and family support on child adjustment were investigated. A total of 116 children of varied socioeconomic and their parents were interviewed. Parents with low household income perceived greater distress related to uncertainty and health worries compared to those with higher household income. However, it was among high-SES families that parental distress was associated with child difficulties. At a multivariate level, children’s health was associated with SES, family support, and parental COVID-19 stress. Among families with low household income, when parents perceived low/average COVID-19 stress, family support worked as a protective factor for children’s adjustment. Understanding how COVID-19 relates with children’s emotional and physical health within families with low and high household income may help to inform recommendations for best practices, for example through family support interventions.