24/7 Wall St.: Bellaire is the richest town in Texas – Houston Business Journal

Bellaire in Houston is the wealthiest suburb in Texas.

New York City-based financial news company 24/7 Wall St. LLC cracked the numbers from the U.S. Census Bureau’s American Community Survey to find the richest towns with populations between 1,000 and 25,000 in all 50 U.S. states based on median household income. Bellaire took the honors for Texas with a median household income of $187,805 — a whopping 243 percent more than the state’s median household income of $54,727.

Other interesting statistics the study found about Bellaire and its population of roughly 18,000:

Households earning $200,000 or more: 46.1 percent in Bellaire vs. 5.7 percent in Texas Adults with at least a bachelor’s degree: 78.8 percent in Bellaire vs. 28.1 percent in TexasMedian home value: $770,500 in Bellaire vs. $142,700 percent in Texas

Overall, the study found that despite the large distances among each state’s wealthiest town, there were some similarities among these rich places.

“Many high-paying jobs require a four-year college degree,” 24/7 Wall St. wrote. “Partially as a result, most of the wealthiest towns in each state are home to relatively large college-educated populations.”

Unsurprisingly, another commonality was expensive real estate, which is accurate for Bellaire. In fact, a former Houston Texans coach listed his Bellaire home for $2 million in February. The nearly 6,000-square-foot Mediterranean-style house sits on a 9,100-square-foot lot. Click through the slideshow at the top of the story to take a virtual tour of the home.

In a separate study, Paige Martin, a local broker associate with Keller Williams Memorial, found that the Bellaire neighborhood had a 6.2 percent increase in median home prices between 2016 and 2017, from $975,000 to $1,035,000. She noted that one reason for the high home prices is because the Bellaire area is near office centers and good K-12 schools.

To see which towns made the 24/7 Wall St. list in each state, click here.

Houston Business Journal published its Wealthiest Houston-Area ZIP Codes list in November, at the top ZIP was 77401 in Bellaire.

Wealthiest Houston-Area ZIP Codes

Ranked by ESRI Wealth Rank

Rank ZIP Code (Prior Rank) ESRI Wealth Rank 1 77401 1.0 2 77005 2.0 3 77094 3.0 View This List

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