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Money really does grow on cacti in Arizona's richest places. However, we don't want you to get 'stuck' trying to figure out where Arizona's wealthiest live on your own, so HomeSnacks' made a list of the top ten richest places in The Grand Canyon State for 2020 and listed them below.
To help you make sense of our list, here's a little insight into how we determined Arizona's most affluent places. This part was easy: we just had to look at things well-to-do people find important: money and jobs. And with fancy, rich city names like Paradise Valley and Fountain Hills, most would think that they would have to earn a cool million/year to make ends meet in the top ten. While that's not the case, you're going to have to bring in at least $78,697/year to live in Arizona's richest places.
We were not surprised, however, to find that Arizona is one of the fastest growing states or one of the best states to retire in the country with the consistent influx of snowbirds and retirees. But, we were surprised that the state is not one of the top ten richest states in America considering you need a high paying job and a bank account to match if you want to live in one of the state's richest places.
Want to know more? Grab some sunscreen, head to the Salt River in Phoenix, and read on.
At the end of the day, here's the set of the 10 richest places in Arizona for 2020:
- Paradise Valley (Photos | Homes For Sale)
- Queen Creek (Photos | Homes For Sale)
- Gilbert (Photos | Homes For Sale)
- Fountain Hills (Photos | Homes For Sale)
- Scottsdale (Photos | Homes For Sale)
- Sahuarita (Photos | Homes For Sale)
- Marana (Photos | Homes For Sale)
- Goodyear (Photos | Homes For Sale)
- Chandler (Photos | Homes For Sale)
- Litchfield Park (Photos | Homes For Sale)
To narrow down the top ten richest cities in Arizona we had to determine how many cities should be considered based on population and the latest Census from the American Survey. This left us with 58 Arizona cities with more than 5,000 residents.
So, what is the richest place in Arizona? That would be Paradise Valley based on the most recent data.
To see a list of the other super wealthy Arizona places take a look below. And if you want to know how the bottom one percent in Arizona are managing, click here.
Rich people not your cup of tea? Feel free to check out some more reading about Arizona:
The 10 Richest Cities In Arizona For 2020
Paradise Valley is a small, affluent town in Maricopa County, Arizona. The town is known for its luxury golf courses, shopping, and restaurant scene.
It should not be confused with Paradise Valley Village, an official municipal designation, in northeast Phoenix. For instance, Paradise Valley Community College, Paradise Valley High School, Paradise Valley Hospital, Paradise Valley Mall, and Paradise Valley Golf Course are all located several miles to the north of the town, in Phoenix. T
Gilbert is a town in Maricopa County, Arizona, United States, located southeast of Phoenix, within the Phoenix metropolitan area. Once known as the "Hay Shipping Capital of the World", Gilbert is currently the most populous incorporated town in the United States. It is the sixth-largest municipality in Arizona, and the fifth-largest in the Metropolitan Phoenix Area.
Fountain Hills is a town in Maricopa County, Arizona, United States. Known for its impressive fountain, once the tallest in the world, it borders on the Fort McDowell Yavapai Nation, Salt River Pima-Maricopa Indian Community, and Scottsdale, Arizona. The population is 22,489, as of the 2010 census. Between the 1990 and 2000 censuses it was the eighth fastest-growing place among cities and towns in Arizona.
Scottsdale is a city in the eastern part of Maricopa County, Arizona, adjacent to the Greater Phoenix Area. Named Scottsdale in 1894 after founder Winfield Scott and incorporated in 1951 with a population of 2,000, the 2015 population of the city is estimated to be 236,839 according to the U.S. Census Bureau. The New York Times described downtown Scottsdale as "a desert version of Miami's South Beach" and as having "plenty of late night partying and a buzzing hotel scene." Its slogan is "The West's Most Western Town."
Sahuarita is a town in Pima County, Arizona, United States. Sahuarita is located south of the Tohono O'odham Nation and abuts the north end of Green Valley, 15 miles south of Tucson. The population was 25,259 at the 2010 census.
Marana is a town in Pima County, Arizona, located northwest of Tucson, with a small portion in Pinal County. According to the 2010 census, the population of the town is 34,961. Marana was the fourth fastest-growing place among all cities and towns in Arizona of any size from 1990 to 2000.
Goodyear is a city in Maricopa County, Arizona, United States. It is a suburb of Phoenix and is in the Phoenix metropolitan area. According to the 2010 census, the population of the city is 65,275. Goodyear was the third fastest-growing place among all cities and towns in Arizona of any size between 1990 and 2000. The July 1, 2015, MAG population estimate was 79,003.
Chandler is a city in Maricopa County, Arizona, United States, and a prominent suburb of the Phoenix, Arizona, Metropolitan Statistical Area. It is bordered to the north and west by Tempe, to the north by Mesa, to the west by Phoenix, to the south by the Gila River Indian Community, and to the east by Gilbert. As of July 2015, the population was 260,828 according to the United States Census Bureau, According to the city's official website, Chandler's Transportation & Development Department estimated the population, as of May 2016, to be 247,328. It also has satellite locations for many technology companies, including Intel and Orbital ATK.
Litchfield Park is a city in Maricopa County, Arizona, United States. It is twenty miles northwest of Phoenix. According to the 2010 census, the population of the city is 5,476.
How We Determined The Richest Places In Arizona For 2020
The first thing that comes to most people's minds when they think about determining the richest places is to simply identify personal incomes. After all, rich people have really high salaries.
However, we don't believe that one statistic wholly encompasses what it means to be one of the "richest places". So we looked at this set of criteria from the newly released 2014-2018 American Community Survey:
- Poverty Level
- Median Household Income
- Unemployment Rate
Median household income is the most digestible way to understand how rich a place really is. The unemployment rate tries to capture the prospects for more people to become rich. If more people are employed, the richer the future looks.
After we collected the data for all 58 places with more than 5,000 people in Arizona, we ranked each place from 1 to 58 for each of the criteria, with 1 being the richest.
We then averaged all the rankings for a place into a "Rich Score" with the place having the lowest overall Rich Score, Paradise Valley, crowned the "Richest City In Arizona For 2020". You can download the data here.
You can learn more about the top ten below or skip to the end to see the rankings for all 58 places.
There You Have It - The Wealthiest Places In Arizona For 2020
Like we said earlier, when we set out to identify the richest places in Arizona, we weren't sure what we'd encounter, but it ended up being some of the best places to live in Arizona.
When you look at the data, the cities and places mentioned above meet the criteria for being at the very top of the income ladder for everyone that lives there.
If you're curious enough, here are the poorest cities in Arizona, according to data:
Poorest: South Tucson
2nd Poorest: Guadalupe
3rd Poorest: San Luis
For more Arizona reading, check out:
Detailed List Of The Richest Cities In Arizona
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