Paradise Valley, Arizona Information
This town is the most expensive place to live in the Phoenix metro area. The median home value was $1,567,800 as of February 2016, and these prices have been increasing in recent years and are expected to continue steadily increasing. There was a 6.1% increase in value from 2014 to 2015, with a further 1.5% increase expected by the end of 2016. The median sale price is also high at $1,223,588. The median income of the city is $150,228 for singles and $164,811 for families, with a very high per capita income of $81,290. Forbes named the town the 71st most expensive in the United States in a 2012 study, and it was the most expensive not just in Arizona but in the entire Southwest region.
Paradise Valley, Arizona Details
Paradise Valley is a small suburban town located immediately north of Scottsdale and just a short drive to the northeast of Phoenix. This town is currently the wealthiest of the Phoenix suburbs, with the highest overall property values in the metro area. It is more than just an enclave for Arizona’s elite, however, as it also boasts eight resorts and year-round tourism that peaks during the winter months when the snowbirds from up north come calling.
When the greater Phoenix area was being settled in the late 1880s, Paradise Valley was originally an area set aside for cattle grazing. The town formally incorporated in its modern state just after World War II, with affluent residents choosing to settle there due to the natural beauty of the Palo Verde trees and the colorful wildflowers that bloom every spring.
The term “exclusive enclave” is thus not an unfair way to describe the town, but for those who can afford it, it is a truly lovely place to live. The town is a hiker’s paradise with Mummy Mountain in the center and Camelback Mountain and the Phoenix Mountains Preserve along its borders. Within a short drive are also the Phoenix Sonoran Desert Preserve, Mcdowell Mountain Regional Park, Estrella Mountain Regional Park and South Mountain Park. It is also situated in a very convenient location in the midst of a cluster of the most populous cities in Arizona. Phoenix is adjacent to the southwest, Scottsdale to the south, and Glendale, Tempe, Mesa, Gilbert and Chandler are all within about an hour’s drive.
Most town residents who are employed commute to Phoenix or Scottsdale for work. Employment directly in Paradise Valley is largely provided by the resorts there, such as the JW Marriott Scottsdale Camelback Inn Resort and Spa and the Omni Scottsdale Resort & Spa at Montelucia, but many of these employees commute in from other nearby cities. Phoenix is the home of the headquarters of four Fortune 500 companies — Avnet, Freeport-McMoran, PetSmart and Republic Services. Some other notable companies who either have headquarters or major regional operations in the city include Intel, U-HAUL, American Express, Best Western, the University of Phoenix, Honeywell and US Airways. Scottsdale is also home to a number of popular resorts as well as the headquarters of Honor Health, General Dynamics C4 Systems and one of the country’s three Mayo Clinics. All in all, the greater Phoenix metropolitan area has one of the stronger economies in the country.
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