Purpose: This descriptive correlation study aimed to identify the relation among the depression, perceived health status, and subjective memory impairment of urban low-income old adults. Method: Data were collected from 243 elders living in a metropolitan city, Korea by a structured questionnaire consisting of Korean- Memory Complaint Scale-A, Geriatric Depression Scale Short Form-Korea Version, and Health Status Selfappraisal Tool. Data were analyzed by descriptive statistics, t-test, one-way ANOVA, Scheffe post hoc, and Pearson's correlation coefficient. Result: The average score of subjective memory impairment was 4.89, 77.4% of subjects showed higher than mild memory complaint scale. There were significant differences in subjective memory impairment with gender (t=-4.78, p<.001), education level (F=6.78, p<.001), regular exercise (t=-3.84, p=.005) among other characteristics. There were significantly negative correlations between perceived health status and depression (r=-.58, p<.001). There were significantly negative correlations between subjective memory impairment and perceived health status (r=-0.51, p<.001). but positive correlations with depression (r=0.46, p<001). Conclusion: Based on this result, it is necessary to develop the nursing invention and substantial education program for subjective memory impairment which can predict the mild cognitive impairment and dementia. Additionally, various programs developed in view of the depression and the perceived health status, can reduce the subjective memory impairment.