Liz Price was born in Louisville, Kentucky and graduated from University of Louisville in 1981 with an undergraduate degree in sculpture. She lived and worked in New York City for several years before moving to Philadelphia to attend the University of Pennsylvania. There she received a Master of Fine Arts degree in painting in 1988. She has lived and worked in Philadelphia ever since.
Neil Welliver was chairman of the program at the time, while other critics and visiting artists included Rafael Ferrer, William Bailey, Altoon Sultan and Alex Katz. Price paints in a painterly realist tradition, citing influences ranging from Cezanne, Matisse and Vuillard to Richard Diebenkorn, Fairfield Porter, Janet Fish, and Lois Dodd.