Geographic racism gives rise to health inequities that impact communities in detrimental ways. Southern ethnic minority groups, particularly African American/Black semi‐rural communities, are subject to especially unjust outcomes in health, education, and wealth. Asset‐based community development (ABCD) is a way of engaging with communities in participatory and positive ways that center community voices as expert. Youth can participate in ABCD, are sensitive to the ways in which their communities are structured, and have insights as to how to improve the places they live. We undertook a qualitative interview study which included a cognitive mapping exercise with 28 youth to understand how African American/Black youth who had participated in an ABCD‐informed summer program conceptualized community and preferences about where they lived. Using a phenomenological approach to qualitative analysis, our study revealed that many youth defined community as a combination of people and place, enjoyed engaging with unique resources in their communities as well as seeking peace and quiet, experienced hardships as “something everybody knows” when observing constraints on their communities, and were committed to their communities and interested in seeing—and participating in—their flourishing. Our study provides a nuanced and contemporary understanding of the ways in which African American/Black semi‐rural youth experience community which can contribute to cyclical asset‐based development strategy aimed at empowering young people and improving health outcomes in resilient communities.