You Need To Make This Much Money To Live In Arizona’s Richest City
By Sherah Janay Ndjongo
August 15, 2023
Arizona is one of the nine wealthiest states in the country, and, according to 24/7 Wall St., the wealthiest areas within the state have median home values that are a minimum of $1 million above the statewide median.
However, in the heart of Arizona, where opulence and grandeur meet, lies the crown jewel of prosperity — Paradise Valley, the state's undisputed capital of wealth and extravagance. Adorned with glamorous shopping districts filled with top designer brands, luxury golf courses, fine dining establishments and, of course, pricey real estate, Paradise Valley is concealed by a tapestry woven from the threads of lavish lifestyles from those who live in different zip codes.
Here is how much it costs to live in Arizona's richest city as well as more interesting facts about Paradise Valley:
- The median household income in Paradise Valley is $212,773 compared to Arizona's overall median household income of $61,529.
- 73% of adults living in the town have earned at least a bachelor’s degree. Conversely, only 30.3% of adults statewide have graduated from a four-year undergraduate program.
- The percentage of households with incomes above $200,000 in Paradise Valley is 52.9%, although in the entire state of Arizona, that number drops to 6.4%.
- The average home value in Paradise Valley is $1,663,200. In Arizona, it's $242,000.
- Paradise Valley has a population of14,502.