3 Most Affluent Communities
(Based on Average Household Net Worth)
From sheer curiosity, we wanted to see what the valley’s wealthiest spots are. Searching to list the wealthiest cities in Arizona, we noticed a lot of conflicting data out there and (what seems to be) confusion on the difference between mean and average. The best way to compile this list was was discovered; by means of average household net worth (taking population into consideration of course). We really wanted to get down to the fun part…looking into the most expensive homes for sale—which we did.
3) Ahwatukee Foothills (Phoenix)
Sprinkled along South Mountain are the mountain-side estates and golf course backyards of Ahwatukee, Phoenix’s “rich uncle.” Average Households in the Ahwatukee Foothills community pull in a net worth of $770,650, and a median household income of $98,859.
The most expensive Ahwatukee home for sale right now is going for a cool $2,545,000, which is less than the original asking price at the time of this original report—$2,799,000. See the MLS listing for 14204 South Presario Trail.
Average Household Net Worth: $770,650
Average Home Price: $341,000
Average Sale Price: $280,000
Average Household Net Worth: $700,612
Average Home Price: $347,180
Average Sale Price: $307,000
The upper class suburban community cozied-up in the foothills of South Mountain has a whopping population of a quaint 148 people. And with a median household income of $163,763, the hopes for a bargain in Canyon Estates is better than the rest of the neighborhoods on our list.
Average Household Net Worth: $943,863
Average Home Price: $599,000
Average Sale Price: $419,000
2) Scottsdale, 85255
Not a huge shocker, the average household net worth for the city of Scottsdale is (collectively) $803,301, where the median household income for the city is $118.259. Out of the city’s 15 zip codes the most expensive neighborhoods lie within the 85255 zip code:
Average Household Net Worth: $775,000
Average Home Price: $774,900
Average Sale Price: $620,000
Considering absolute volume of high-priced homes in one single gated area, Silverleaf is the most expensive neighborhood in Scottsdale. Homes list between $4.7 and $33 million. Currently, the most expensive house on the market is in Silverleaf.
Average Household Net Worth: $914,621
Average Home Price: $1,499,900
Average Sales Price: $750,000
Based on Household Net Worth alone, the 85255 neighborhood of Happy Valley Ranch takes the cake, but it isn’t the most expensive if you’re looking to live here. The average price of homes sold in this affluent community is considerably less than the next neighborhood listed for this Scottsdale zip code.
Average Household Net Worth: $1,020,868
Average Home Price: $860,000
Average Sale Price: $837,000
Average Household Net Worth: $943,805
Average Home Price: $837,500
Average Sales Price: $622,500
1) Paradise valley
Good ol’ PV, still at the top of the bacon chain bringing in the most bucks and putting Arizona on the list for Business Journal’s review of wealthiest places in America. Although the big dogs are, for the most part, along the east coast, Paradise Valley is our state’s claim to fortune and fame (per capita), where the average household net worth is $833,627, and median household income is $99,337.
Average Household Net Worth: $758,132
Average Home Price: $1,762,500
Average Sale Price: $1,050,000
#1) Jokake Camelback
The Most Expensive Neighborhood in Paradise Valley is the 85253 subdivision Jokake Camelback, where each house sits on 5+ gated acres of desert land. In May, 2015 one of these mini-mansions, once listed at $23,000,000, went into foreclosure and was considered at land-value for just under $6.1 million. The mini-mansion received multiple offers in 24 hours and sold just as fast as you can say “Does this house come with an elevator?” Yes, yes it does.
Currently, the most expensive house on the market in Paradise Valley is in Mummy Mansion Estates and listed at $25 million. See the MLS listing for 8055 North Mummy Mountain Road Paradise Valley, AZ 85253.
Average Household Net Worth: $954,887
Average Home Price: $2,395,000
Average Sale Price: $825,000
Apparently out of the 25 properties in this untouchable neighborhood don’t go for sale often enough to generate a calculable average home sales price, but there is currently one property listed for sale and it’s listed at $2,200,000.
Average Household Net Worth: $929,134
Average Home Price: $2,147,500
Average Sale Price: Not Available
Average Household Net Worth: $1,033,794
Average Home Price: $2,100,000
Average Sale Price: $960,000