Abstract: Vulnerability is often associated with risks and hazards, and is an important concept used in disaster management research. In the context of urbanization and climate change, assessing regional vulnerability and identifying vulnerable groups is an important part of disaster prevention and mitigation. This research focuses on the residents of urban villages in the Hongshan District of Wuhan City, constructs the social vulnerability evaluation index system of natural disasters according to the “exposure-sensitivity-adaptive capacity” framework from Intergovernmental Panel on Climate Change (IPCC), and uses the questionnaire survey method to obtain the data. On the basis of determining the index weights by principal component analysis (PCA), the social vulnerability of residents is evaluated by the weighted comprehensive evaluation method. The results show that the residents of urban villages in the Hongshan District are relatively vulnerable. And the vulnerability distribution is unbalanced, showing the characteristics of “more in the medium vulnerable level and less at both of high and low vulnerable level”, with significant structural differences, and low adaptive capacity is an important factor leading to their vulnerability. Moreover, there are differences in the vulnerability of residents in different ages, hukou types, and income levels but no distinct differences in gender. The results also show that the vulnerability of rural residents is higher than that of urban residents, in addition, the rural residents have high sensitivity and low adaptive capacity, and they are more vulnerable in the face of shocks and external pressures like disasters and risks; as age increases, the adaptive capacity to external risks decreases, however, in terms of sensitivity, some youth groups in urban villages are at an astonishingly high level; and the increase of income level has a positive impact on reducing the social vulnerability of residents in urban villages, decision-makers can provide practical strategies for reducing the vulnerability of different income groups. The overall social vulnerability of females is slightly higher than that of males, but with no significant differences in exposure, sensitivity, and adaptive capacity with gender.