Arizona, particularly the metropolitan Phoenix area, has its fair share of wealthy folks.
According to a recent Arizona Republic article, one in every 17 Scottsdale residents is a millionaire.But, aside from wealthy individuals, which Arizona municipality has the highest average income? (Hint: it is not Scottsdale.)
Stacker aimed to answer this question by releasing a list of the richest communities across all 50 states. Stacker used the Census Bureau’s Five-Year American Community Survey data to rank cities based on median household income, poverty rate, and other factors.
Here’s the richest city in Arizona, and why.
Paradise Valley has the highest median household income in Arizona, at $221,333. The majority (54.9%) of all households make more than $200,000. The poverty rate is 2.9%, compared to 12.5% statewide.
Paradise Valley, a suburb east of Phoenix with a population of approximately 12,600, is known for its two premium golf courses and large, gated houses.
It appears that citizens’ wealth is not derived from city-based enterprises. The Arizona Commerce Authority’s community profile for Paradise Valley states that the area is home to many CEOs, professional athletes, and business owners who operate outside of the area.
Michael Phelps, the most decorated Olympian of all time, is one of Paradise Valley’s most prominent residents.
Twelve cities had median household incomes of $250,000, including those in Missouri, Illinois, and Kansas. To break the tie, Stacker included the percentage of households earning more than $200,000, ranking these as the richest cities in the United States.
- Hillsborough, California: 69.6% of households make over $200,000
- Belle Meade, Tennessee: 74% of households make over $200,000
- Scarsdale, New York: 74.3% of households make over $200,000
- Hunters Creek Village, Texas: 75% of households make over $200,000
- Chevy Chase, Maryland: 76.7% of households make over $200,000