This study examined the influence of the student mobility rate on the high school graduation rate of schools in the state of New Jersey. Variables found to have an influence on the graduation rate in the extant literature were evaluated and reported. The analysis included multiple and hierarchical regression models for school variables (i.e., teacher mobility and school size) and student variables (i.e., percentage of limited English proficient students, special education students, low socioeconomic status, and minority students). All data explored in this study pertained to 316 public comprehensive high schools in New Jersey during the 2010-2011 academic school year, which was the first year of a cohort graduating under the new compact formula. The results of the study revealed that the student mobility rate does influence the graduation rate.