Actually you are thinking about that a little bit backwards. That is to say, high test scores are a pretty good proxy for not only income, but other less tangible things.
Consider, you can get high income in some suburbs of rust belt cities... doesn't mean you want those kids at Governor Dummer's.
In essence, some people want to buy real estate around 'the right kind of people'. There is more to it than just income, and test scores are a good proxy for figuring that out. Of course, that's normally only for a fairly select group of 1%'ers. But that's also where your big commissions come from in real estate.
Consider, you can get high income in some suburbs of rust belt cities... doesn't mean you want those kids at Governor Dummer's.
In essence, some people want to buy real estate around 'the right kind of people'. There is more to it than just income, and test scores are a good proxy for figuring that out. Of course, that's normally only for a fairly select group of 1%'ers. But that's also where your big commissions come from in real estate.