If luxury living is your aim and Arizona is on your map, then Paradise Valley's 85253 could be your sweet spot which reveals a median home price of a cool $5.5 million, with nearly 6,000 square feet to sprawl your limbs. Nestled between Camelback Road and Shea Boulevard, and dusted by the silhouettes of Camelback Mountain and Piestewa Peak, these residential digs top Arizona's property market with luxury as the cornerstone of its not-so-humble allure, a fact underscored by a Phoenix New Times report.
But affluence, it turns out, isn't exclusively locked into these borders, as The Arizona Republic taps into the 2023 American Community Survey showing that Scottsdale, with its multiple ZIP codes in the top 10, boasts a concentration of wealth that's hard to miss—the 85262 at $173,795 median income, 85266 at $157,137, 85259 at $145,574 and 85255 rounding off with $143,567, according to a comprehensive list put together by the AZ Central. This suggests that Scottsdale might have the largest number of, let's say, financially comfortable folks.
On a national level, Paradise Valley is Arizona’s most expensive area, but it still ranks behind the top high-priced ZIP codes in places like New York and California, according to the Robb Report and Phoenix New Times. While the 85253 ZIP code boasts a high median price per square foot, it trails behind luxury areas in Connecticut, Massachusetts, New York, and Virginia, as reported by AZ Cntral.
Even with a strong median income of $182,150, Paradise Valley’s 85253 ZIP code isn’t just wealthy—it also has a high rate of homeownership. In Arizona’s richest areas, 70% to 97% of homes are owner-occupied, according to The Arizona Republic. Despite being home to the ultra-rich and some well-known celebrities, this area has seen home prices skyrocket, a lasting effect of the COVID-19 pandemic, as per AZ Central.
