The cost to attend some private K-12 schools in New York City has crept above $50,000 annually, The Wall Street Journal reported.

The rising cost in just the last five years is steep. Median tuition and fees at Manhattan private schools are $44,050 compared to $35,867 five years before, The Journal reported, citing figures from the National Association of Independent Schools.

While private school tuition regularly outpaces the rate of inflation, a 23% jump in five years is still significant, especially when noting that $50,000 tuition is higher than the average cost to attend private college in the US.

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Source:: BusinessInsider.Com