Risk for peer victimization varies by ethnicity, but few studies explore how the ethnic context of the school can affect this. Using a large sample of schools and high school students, we used hierarchical linear modeling to explore victimization risk by ethnicity within the ethnic context of the school. Models predicted total, physical, verbal, and sexual harassment victimization. At the student level, the model included sex, ethnicity, and the percent of same ethnicity students at the school. At the school level, the model included diversity, mean perception of school safety, and mean perception that they were targeted because of their race/ethnicity. At the student level, having more same-ethnicity peers, and at the school level, having greater overall diversity, decreased victimization. Overall, the results support the use of prevention and intervention efforts targeted at students. (Contains 3 tables.)