A plethora of research on the psychological consequences of community violence exposure among youth has conceptualized and measured community violence as a single, homogenous construct that indiscriminately gives rise to a wide range of outcomes. However, it is increasingly recognized that community violence exposure is comprised of many disparate characteristics. Thus, a more dimensional theoretical approach to the study of community violence exposure is proposed; such an approach will more precisely clarify how community violence exposure is differentially associated with specific outcomes. In particular, the dimensions of type, severity, physical proximity, relational proximity (familiarity with the persons involved), and chronicity of community violence exposure are suggested as potential moderating factors that may each, individually and in interaction, differentially impact youths' well-being. In order to account for greater contextual complexity in children's experiences of community violence, several recommendations for new methodological approaches and research directions are proposed and discussed. Such a theoretical shift is critical to advance our understanding of the processes underlying the links between community violence exposure and youth outcomes, as well as to inform more targeted and effective interventions for youth exposed to community violence.