This study examined experiences of adversity and potentially traumatic life events among 138 young children (56% female) residing with their families in emergency housing. Experiences of these children were examined from a developmental perspective, testing the impact of cumulative adversity on trauma symptoms, other emotional/behavior problems, and executive functioning in relation to the quality of observed parent-child interactions. Cumulative adversity was related to children’s trauma symptoms and total problem scores. Quality of observed parent-child interactions related to fewer child symptoms, congruent with a promotive role. Quality of parent-child interactions also moderated the associations between adversity and both specific trauma symptoms and broad emotional/behavior problems, consistent with an expected protective effect. Parenting quality was generally associated with better child executive functioning, consistent with a promotive rather than a protective effect among homeless children. Findings are discussed in the context of family homelessness, including chronic poverty and acute or ongoing adversity.