Background: Black and Latino homeless youth are at high risk of HIV and yet no HIV prevention interventions have been specifically designed for these groups. Given the success of parent–child intervention programs for housed Black and Latino youth, this study examined parental relationships that could be leveraged for future HIV prevention efforts targeting minority homeless youth, specifically associations among presence of parents in social networks, parental influence, and parental support. Methods: A convenience sample of Black, Latino, and White homeless youth (N = 762) was recruited from three drop-in centers in Los Angeles. Participants completed a computerized, self-administered questionnaire and an interviewer-led personal social network interview. Multivariate logistic regression models assessed the association between parental relationships and sexual risk behaviors. Results: Forty-five percent (n = 345) of youth identified a parent in their network. Having at least one parent in their network was significantly associated with decreased odds of using a condom for Black and White youth. Black youth were almost 4 times more likely to report being tested for HIV if they spoke to their parents about sex, whereas Latino youth were 91% less likely to report being tested for HIV if they talked with their parents about sex. Black youth who identified a parent as a positive influence (i.e., promoting condom use or discouraging multiple partners) were almost 4 times more likely to have used a condom during their last sexual encounter. Conclusion: Parent–child HIV prevention interventions targeting homeless youth would benefit from culturally tailored adaptations.