Victimization can harm youth in various ways and negatively affect their friendships with peers. Nevertheless, not all victimized youth are impacted similarly, and the literature is unclear regarding why some victims are more likely than others to experience friendship-based consequences. Using five waves of data on 901 adolescents (6th grade at wave 1; 47% male; 88% White) and a subsample of 492 victimized youth, this study assessed (1) whether victimization leads to decreases in perceived friend support, and (2) the factors that explain which victimized youth are most likely to experience decreases in perceived friend support. Explanatory factors included subsequent victimization, victims’ social network status (self-reported number of friends, number of friendship nominations received), and victims’ risky behaviors (affiliating with deviant friends, delinquency, aggression, binge drinking). Random effects regressions revealed that, among the full sample, victimization was linked to decreases in friend support. Among victimized youth, subsequent victimization and deviant friends decreased friend support. Having more friends was associated with increased friend support among victims, though this association weakened as the number of friends increased. The results emphasize that victimized youth are a heterogeneous group with varying risks of experiencing friendship-based consequences.