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This paper explores the potential role of the school neighborhood poverty (SNP) estimates by the National Center for Educational Statistics in the construction of a socio-economic status (SES) index for the National Assessment of Educational Progress (NAEP). The SNP data is based on the American Community Survey (ACS) 5-year data from the Census Bureau and provides an indicator of the economic conditions of neighborhoods around schools. Using either SNP data or school NSLP percentage as a component in the NAEP SES index, the two indices explain an equivalent amount of overall variance in student performance but the one using SNP explains the Black- and Hispanic-White performance gaps less well than the NSLP data collected by NAEP.