This study aims to identify the factors affecting the depression of elderly women in rural areas, by focusing on social network and sense of community. The questionnaires were conducted from July to September, 2016 by face-to-face interviews with the elderly women using the senior citizen center in rural areas. As a result, 302 questionnaires were collected, and of which 292 cases were utilized for the final analysis. The analysis revealed that socio-demographic characteristics, social network, and community consciousness had a significant effect on depression. The main results are summarized as follows. First, in first model, age, education, subjective health status, and subjective economic status were found to affect depression. Second, in second model, by adding the social network, the explanation power increased, and the social network of friends/neighbors were proven to be an influence on depression. Third, in third model, explanation power increased when sense of community was added, and it was proven that sense of community had an effect on depression. Finally, when the socio-demographic characteristics and the social network were controlled, the sense of community had more influence on the depression than the social network.