We used eye movement measures of first-language (L1) and second-language (L2) paragraph reading to investigate how the activation of multiple lexical candidates, both within and across languages, influences visual word recognition in four different age and language groups: (1) monolingual children; (2) monolingual young adults; (3) bilingual children; and (4) bilingual young adults. More specifically, we focused on within-language and cross-language orthographic neighborhood density effects, while controlling for the potentially confounding effects of orthographic neighborhood frequency. We found facilitatory within-language orthographic neighborhood density effects (i.e., words were easier to process when they had many vs. few orthographic neighbors, evidenced by shorter fixation durations) across the L1 and L2, with larger effects in children vs. adults (especially the bilingual ones) during L1 reading. Similarly, we found facilitatory cross-language neighborhood density effects across the L1 and L2, with no modulatory influence of age or language group. Taken together, our findings suggest that word recognition benefits from the simultaneous activation of visually similar word forms during naturalistic reading, with some evidence of larger effects in children and particularly those whose words may have differentially lower baseline activation levels and/or weaker links between word-related information due to divided language exposure: bilinguals.