This study used hierarchical linear modeling (HLM) approach to investigate relationships between student achievement, minority status, per pupil operating expenditure (OPEX), and class size with a sample of 83,738 high school students from a midwestern state. The HLM results indicate significant differences among schools (χ2 = 22,556.99, df = 595), p<0.001, with an intra-class correlation of 0.16 indicating that 16% of variance in achievement was among schools. With minority status as Level 1 and OPEX and class size as Level 2 predictors, the variance accounted for in mean school achievement was 48.5% indicating that these variables accounted for 48.5% of variance in achievement. The reliability of the sample mean in any school was 0.923. All the model predictors varied among schools and cross-level interactions showed main effects of class size and OPEX were significant while the slope intercepts for OPEX were significant while that of class size was not.