We consider the metallicities and kinematics of nearby stars known to have planetary-mass companions in the general context of the overall properties of the local Galactic disk. We have used Strömgren photometry to determine abundances both for the extrasolar planet host stars and for a volume-limited sample of 486 F, G, and K stars selected from the Hipparcos Catalogue. The latter data show that the Sun lies near the modal abundance of the disk, with over 45% of local stars having supersolar metallicities. Twenty of the local stars (4.1%) are known to have planetary-mass companions. Using that ratio to scale data for the complete sample of planetary host stars, we find that the fraction of stars with extrasolar planets rises sharply with increasing abundance, confirming previous results. However, the frequency remains at the 3%-4% level for stars within ±0.15 dex of solar abundance and falls to ∼1% only for stars with abundances less than one-half solar. Given the present observational constraints, both in velocity precision and in the available time baseline, these numbers represent a lower limit to the frequency of extrasolar planetary systems. A comparison between the kinematics of the planetary host stars and a representative sample of disk stars suggests that the former have an average age that is ∼60% of the latter.