Under the background that compulsory education resource supply tends to be equal and education gap is narrowing, school district housing premium is higher and higher, which draws the society’s attention. Taking the most representative districts and counties in the respect of compulsory education resource distribution in Beijing for example, based on the investigation of the trend of school district housing premium level, taking the degree of compulsory education resource competition, household wealth inequality and economic growth as the endogenous variable, a simultaneous equation model is constructed to implement empirical test. The result shows that the regression coefficients of the household wealth inequality variable and educational resource competition variable on changes of school district housing premium level are both significantly positive, and the correlation of the former was significantly higher than that of the latter. Growing household wealth inequality is the main reason for the enlarging school district housing premium in recent years. Therefore, to solve the school district housing problem is not only to balance the compulsory education resources, but also to curb the trend of growing household wealth inequality.