<p>Adolescents aged 11 to 21 years living in out-of-home care (OOHC; <i>n</i> = 87) and with their biological families (BF; <i>n</i> = 91) provided self-reports on their psychosocial adjustment (i.e., internalizing and externalizing symptoms), as well as their well-being. They also reported on perceived contextual factors, namely extra-familial resources (i.e., peer group and school integration) and perceived parenting behavior of their foster/ adoptive or biological parents, respectively (i.e., warmth and support, psychological pressure, demands and control). Adolescents living in OOHC compared to those living in their BF reported significantly less extra-familial resources, more parental psychological pressure, and more demands and control. In this cross-sectional study, path analyses on associations of the contextual factors with psychosocial adjustment and well-being revealed no significant moderation by family placement (OOHC vs. BF). Better peer group integration was associated with fewer internalizing and externalizing symptoms, and higher well-being, while better school integration was associated with fewer internalizing symptoms. Regarding parenting behavior, more maternal psychological pressure was associated with more internalizing and externalizing symptoms. These findings highlight the importance of fostering peer and school support, and reducing psychological pressure, particularly for adolescents in OOHC.</p>