More than a generation has passed since the substantial immigration of Iranians to the United States in the late 1970s, resulting in a sizable second-generation population (defined by convention as persons born in the United States and those who immigrated under the age of thirteen). This article presents a first look at the demographic and socioeconomic characteristics of the second generation at the national level, and compares them with those of the first generation (Iran- or foreign-born population). It uses the 2005–07 merged data set compiled by the United States Census in the American Community Survey (ACS). The results indicate a preliminary continuation of economic and educational success from the first- to the second-generation Iranians. Moreover, this achievement has become more balanced across gender lines in the second generation. Specifically, in terms of educational attainment and labor force participation, females have quickly closed the gap with their male counterparts. Because the second generation is still young, it is premature to assess the extent of intergenerational mobility among Iranians. But given this generation's initial achievements, one can only expect an upward trajectory.