Objectives: The aim of this study was to determine and compare the frequencies of depression in institutionalized and homebound older adults. Methods: This descriptive study was conducted in aged over 65 years, in home-bound seniors who living with or without other family members, and institutionalized seniors who living in a geriatrics facility in Lima, Peru between July 01 and July 31, 2019. The Yesavage Geriatric Depression Scale (Short Form) was used to assess depression. Results: The study included 250 elderly adults. One hundred and twenty-five (50.0%) of the participants were in the home-bound group and 125 (50.0%) of the participants were in the institutionalized group. The mean age of the participants was 75.2±6.2 years, 134 (53.6%) were male and 100 (40.0%) were single. Among the homebound older adults, 87 (69.6%) were found to have moderate depression and the results of 15 (12.0%) suggested severe depression. In the institutionalized group, 45 (36.0%) had moderate depression, and 22 (17.6%) showed severe depression. In the elderly, 102 (60.4%) in the home-bound group and 67 (39.6%) in institutionalized group had depression (p<0.001). While 33 (19.5%) of married elderly people had depression, 5 (6.2%) did not have depression (p=0.017). Conclusion: Among older adults, a high frequency of depressive symptoms was found. Depression was observed mainly in home-bound elderly and married. The participation of governments and family members is required to ensure the provision of adequate health services and assistance for the growing elderly population.