PurposeSocial capital is thought to contribute to health and well‐being, but its application to a rural context is poorly understood. This study seeks to examine how different forms of social capital relate to health and well‐being among rural residents and the extent to which race and degree of rurality moderates these relationships.MethodsData from a population‐based survey of 6 counties in rural Georgia (n = 1,385) are used. We examined 3 forms of social capital (diversity of interaction, civic engagement, and voting behavior) in relation to 3 health and well‐being measures (overall life satisfaction, general health status, and 30‐day physical health).FindingsInteracting with more diverse social networks was associated with higher overall life satisfaction for White but not Black participants (P ≤ .001). For those living in more rural communities, interacting with a more diverse social network was more strongly associated with greater general health as compared to those who lived “in town” (P ≤ .01). Greater civic engagement and voting behavior were associated with greater general health for White but not Black participants (Ps < .05). Likewise, voting in all 3 elections was associated with greater overall life satisfaction and fewer days of poor physical health for White but not Black participants (Ps ≤ .05).ConclusionSocial capital may be associated with positive health and well‐being among those living in rural areas, but it may vary by race and degree of community rurality, suggesting the need to further understand how social capital operates in a rural context.