Houston, Texas is one of the largest metropolitans in not only the state but also the entire nation. It’s not surprising that home values can vary dramatically from neighborhood to neighborhood.
Identifying the wealthiest neighborhoods in Houston is dependent on several factors, including the location, the size and style of the homes, and even natural features within an area. Many of the higher-priced homes are out of reach for those earning an average income (or less), which means that the richest areas in Houston are only for those with large salaries, including millionaires.
With Houston being the size that it is, it’s not surprising that there are cheap areas as well as highly desirable areas – with the latter also associated with a higher cost of living. If you’re looking for the richest neighborhood in Houston, we have the top 12 to choose from.
The methodology that we used to identify the richest area in Houston involved looking at a variety of sources. We took the time to look at the neighborhoods all over the Greater Metropolitan Area, paying attention to home values, average salaries, shopping centers, and more.
Here are a few sources we incorporated:
- Home values: We used sites like Zillow.com and local real estate sites to establish the home values around Houston.
- Blogs: We relied on real estate blogs and national blogs to identify some of the richest part of Houston.
- Census: The Censuses as well as other sites allowed us to determine the median household income in Houston along with the individual neighborhoods.
- Shopping: We looked at Houstonian Magazine and other websites to tell us of shopping areas across the city. We focused on areas where the higher-end stores are located.
- Neighborhoods: We used sites like Niche.com and others to review neighborhoods to see what each has to offer, including good schools and close proximity to various companies, attractions, and natural resources.
In terms of median household income, Point2Homes.com identifies Rice as one of the richest neighborhoods in Houston although the property prices are not as high as some of the other locations on the list. Therefore, it is a neighborhood that attracts wealthy people who are looking for a bargain in terms of property prices.
The annual household income is around $68,900. The area is also prominently located around Rice University as well as the Houston Museum of Natural Science. You’ll also find a large number of spas, art galleries, and more.
11. Hyde Park
Hyde Park is a neighborhood in the Montrose area of Houston that is considered one of the best places to live in Houston and the surrounding area. Residents of Hyde Park have a median household income of $62,000, which affords them homes in this prestigious area, where the median home value is $743,879. It is a safe neighborhood that has visual appeal, and there is a diverse range of activities for residents to enjoy in the surrounding area.
HoustonProperties.com also identifies that Hyde Park is desirable because of its location. It is only 10 minutes from downtown Houston. You’ll also find plenty of restaurants, bakeries, coffee shops, and more to enjoy while living in the neighborhood.
10. Boulevard Oaks
The cost of properties in Boulevard Oaks only just falls short of the prices of homes in Woodlake, as the median home value in Boulevard Oaks is $635,000, according to Redfin. To pay such high property prices requires a substantial income, and it is no coincidence that those who live there earn an average of $69,000 a year. The neighborhood was first developed in the 1920s and 1930s, so many of the properties in the area have character and boast period features. It is also a National Register historic district.
The area is highly noted for its beauty. There are also lots of outdoor activities nearby, including several high-end golf courses.
By a relatively small margin, Woodlake is the ninth richest neighborhood in Houston, and the median home value is $863,480. Despite the properties costing more than in Boulevard Oaks, the residents have a lower median household income of $54,000. Therefore, many who live in Woodlake are potentially stretching their budget boundaries to live in a desirable location.
According to Pearl Woodlake, the area is a bit slower-paced than other parts of Houston, which is why it’s so desirable. It is close to Memorial Park as well as the Energy Corridor. You’ll also find museums, music venues and more nearby.
8. University Place
University Place is the 77030 zip code area, and properties in this neighborhood have a median home price of $980,008, with many properties exceeding the million-dollar mark.
The cost of living in this area is high as it is considered one of Houston’s best neighborhoods. It is particularly appealing to young professionals who enjoy the urban-suburban mixed feel, the employment opportunities, and the range of activities available. There are also good transport links and community diversity. Niche.com gives the neighborhood a score of A+ because of the schools, the nightlife, and how great it is for families.
7. West University Place
West University Place offers quite a leap in some of the home values compared to others on the list. It consistently makes it into the top 10 of the richest neighborhoods of Houston. It’s not uncommon to see homes consistently listed for over a million dollars. The median home value is $1,320,354, while the median household income is around $144,000. West University Place is a suburb of Houston with a population of 15,603.
Although there is a semi-rural feel to this neighborhood, residents have access to coffee shops, restaurants, bars, and parks. It is an area that appeals to affluent families, as the schools are above average and there are various family-oriented activities to enjoy.
Those who live in the Galleria-Uptown neighborhood are stretching their median household income of $87,000, as the median home price is $1,370,342. Galleria-Uptown is a neighborhood that appeals to those who enjoy an urban lifestyle in an area that is vibrant and offers many leisure activities.
It is the most expensive area that is directly within the city, rather than on the outskirts. However, the area has many appealing features that offer city dwellers an amazing lifestyle. For example, there are upscale shops, outstanding restaurants, nice parks, and other outdoor spaces.
5. Piney Point Village
According to Investopedia, the richest neighborhood in Houston is Piney Point Village, where the median house price is $1,784,461. Unsurprisingly, the median household income is also high at approximately $108,000 per year. Piney Point Village has a population of 3,425 residents.
There’s a good mix of families here, too, which is why you’ll find all sorts of things to do, from escape rooms to indoor skydiving. Although the city amenities and attractions are within easy commuting distance, it has a rural feel, and it is this combination that makes Piney Village Point such a desirable location.
The Bellaire neighborhood is located on the west side of Houston. It is continuously voted as the richest neighborhood in Houston, and much of this has to do with the home values. Many of the homes are still relatively new. According to Houston Premium Homes, the average list price is around $954,000.
The homes are not only beautiful but also centrally located to some amazing attractions throughout Houston. You’d be close to the Galleria, the Nature Discovery Center, and Rice University.
3. Afton Oaks
Afton Oaks is one of the richer neighborhoods of Houston, too. The average list price for this neighborhood, according to Houston Premier Homes, is about $1.2 million. It is deed-restricted and encompasses about 500 homes.
Afton Oaks and Royden Oak are often lumped together as they’re both in close proximity to one another in the western part of the city. The zip code of 77027 is also shared by a few of the other neighborhoods on this list. The neighborhood is relatively quiet and is close to many of the different freeways, making it convenient to get to just about anywhere in the surrounding area.
2. River Oaks
River Oaks is a large enough neighborhood to have several zip codes, and there are differences in the median home prices and household incomes. In the 77027 zip code area of the neighborhood, the median house price is $892,077, while the median household income is $80,000. The pricier zip code area is 77019, where the median home value of homes in River Oaks is $980,008, and the residents have healthy bank balances as the median household income is approximately $82,000.
Zillow has shown that some homes can sell for $36 million (and higher). This area is well known for its landmarks and attractions, which is another reason why it’s so rich. You’ll find the Bough Bend Collection and Gardens, lots of shopping, and the Landmark River Oaks Theatre. The area has been slowly growing since the 1930s.
1. Memorial Park
Perhaps the richest neighborhood in Houston is Memorial Park, where the median home value is $675,481. Although it may seem like a hefty price tag to many people, it is significantly less than the figures people are paying to live in the richest neighborhoods in many other locations around the United States, such as New York and California.
Those living in Memorial Park have a median household income of around $98,000. The neighborhood is home to 54,840 people, and it has an urban-suburban mixed fee. It is a good option for affluent families, as the public schools in this community are highly rated. There are also activities for people of all ages, and the community is diverse. According to the Visit Houston website, this area is also home to a fast-paced mix of restaurants, wine bars, and high-energy spots.
The richest street in all of Houston is River Oaks Boulevard, where the average home value is around $7 million.
River Oaks continues to be the most upscale area in Houston. Not only are the homes expensive but there are also gated communities housing grand mansions from the 1920s and 1930s.
The west side of Houston is where the majority of millionaires live. This includes neighborhoods near Memorial Park. Bellaire has also been named as one of the top areas, which is close to both the Texas Medical Center area as well as the Mahatma Gandhi District.
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Written by Dana Hanson
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