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The Oasis of the Sonoran Desert
A new report details which cities have had the largest influx of ultra-wealthy individuals, and the West’s Most Western Town has made the list.
Mansion Global
"The suburb has long been little-known outside Arizona, even as it attracted high-profile residents such as Randy Johnson, Mike Tyson, Stevie Nicks and Muhammad Ali. But since Covid, agents said, droves of buyers from New York, California and elsewhere—now able to work remotely—have set their sights on Paradise Valley. They are drawn by Arizona’s warm weather and low taxes, as well as Paradise Valley’s privacy, spacious lots and proximity to city life in Phoenix and Scottsdale."
Article from AZFamily
Since 2012, the East Valley city has seen an 88% increase in ultra-high net wealth individuals, according to Henley & Partners. Investment firms and financial institutions typically classify ultra-high net wealth as those with more than $1 million in assets. By Henley & Partners’ estimates, approximately 13,900 millionaires now call Scottsdale home; about 60 are considered “centi-millionaires,” with a net wealth over $100 million, while 5 are billionaires.
KTAR News
"Among a Bloomberg list that contains mostly coastal states and localities, Paradise Valley ranked as the 14th most affluent town in the country. Rankings were determined by average household income- The Phoenix suburb ranked one spot behind Bronxville, New York, and one spot ahead of Larchmont, New York.
Paradise Valley had an average household income of roughly $328,000."
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