This study investigates the demographic and socioeconomic determinants of educational outcomes of public high school students in the school districts of Indiana. Using panel data of school enrollment and community-level demographic and socioeconomic characteristics, four empirical models were developed and compared to estimate the impacts of city and school enrollment characteristics on standardized test performance and graduation rates. Findings indicate that household structure, economic disadvantage, and racial/ethnic composition significantly shape educational outcomes. Poverty indicators, family structure, and racial/ethnic enrollment patterns are consistently associated with test performance and graduation rates. Overall, the study demonstrates that educational attainment is significantly shaped by socioeconomic disadvantage and demographic composition.