This paper examines the effects of parental characteristics and home resources on reading performance of 15-year-old Filipino students using the 2018 International Assessment Program (PISA) Philippine dataset. Results revealed that the multiple linear regression model statistically significantly predicted reading performance. Parental education, parental occupational status, home educational resources, cultural possessions, and home ICT resources were found to be significant predictors of reading performance. With the Philippines ranking lowest on PISA reading performance, the results show that family variables are essential factors to consider. This study also provides empirical evidence of cultural capital importance in examining variations in educational outcomes.