economie

Step inside the richest city in Arizona, where wealthy Californians are flocking for private mountainside estates

The Hermosa Inn, a boutique hotel in Paradise Valley.

Of the 14,000 residents, 95% are homeowners, and the average local makes $220,000 a year, BI previously reported.

According to Realtor.com, the median home listing price is $5 million, and the most expensive home on the market is $50 million.

Many high-profile celebrities have called Paradise Valley home, from Stevie Nicks to Michael Phelps and Muhammad Ali.
Scottsdale is close to Paradise Valley.

Shackleton told BI that many of her clients move to Paradise Valley because it’s just 15 to 20 minutes away from Phoenix’s business neighborhoods, Downtown Scottsdale’s luxury department stores, and the Phoenix Sky Harbor International Airport.

Although it’s a short drive to the city, Paradise Valley is not walkable.
A large estate in Paradise Valley.

Paradise Valley’s lot sizes typically range between one and 27 acres, Shackleton said in a YouTube video.

This makes Paradise Valley ideal for those who want a big, one-story home

“Some people are coming from big cities where they’re used to having two-story houses and small yards. And here we have the ability to have single-level homes,” she said. “If you go single-level, or ranch, as most people call it, then that means a little bit more land and a higher price point.”

The town is full of custom homes that are individually gated.
An individually gated estate.

Although primarily residential, Paradise Valley didn’t look like a typical suburban town. Rather than streets lined with cookie-cutter homes, the town had diverse architectural styles, from modern estates to traditional Southwestern adobe structures.

According to Shackleton, real-estate zoning laws are looser in Paradise Valley than in nearby cities like Scottsdale. There are only a few organized neighborhood communities that require homes to be built using specific models.

The most expensive homes in Paradise Valley offer privacy from their neighbors, making it easy to see the appeal for high-profile residents.

“When you get up into the higher price points, many of the houses in Paradise Valley are individually gated,” Shackleton said. “Some like the feeling of being their own private estate.”