According to recent real estate data, the most expensive cities in Arizona are Paradise Valley, Scottsdale, Cave Creek, Carefree, and Fountain Hills. These cities come with a high cost of living and average home prices exceeding $750,000. They also provide their residents with top-quality amenities and stunning natural beauty.
Are you considering moving to Arizona, but concerned about the cost of living in some of its cities? Well, you’re not alone. Arizona is a beautiful state, but some of its cities come with a high cost of living.
In this blog post, we’ll take a look at the most expensive cities in Arizona and provide some helpful tips on how to manage your expenses if you choose to reside in one of these areas.
Whether you’re relocating for work, retirement, or simply seeking a change of scenery, understanding the cost of living in different areas can help you make informed decisions about where to settle down.
Read on to discover the most expensive places in Arizona and how to make the most of your money in these high-cost areas.
Most Expensive Places to Live in Arizona
1. Paradise Valley
Paradise Valley is the most expensive city to live in Arizona, with stunning and luxurious homes that attract many wealthy residents.
The average home price in this beautiful city is $3.35 million! But it’s not just about the high-priced houses – Paradise Valley also has a very high median household income of $211,300.
Living in Paradise Valley comes with many perks. The city offers amazing resorts and 5-star hotels that contribute to its thriving economy. With a population of around 14,637 people, those who call this place home can enjoy breathtaking views and top-notch amenities.
2. Scottsdale
Scottsdale is another expensive city to live in Arizona, ranking second with an average home price of $989,120. This famous city has a lot to offer approximately 258,069 residents.
Known for fantastic golf courses and top-quality resorts, Scottsdale’s economy mainly relies on tourism, which accounts for around 40% of its total economic output.
Not only are the homes in Scottsdale costly, but the city also boasts a high median household income of $88,213. The phrase “The West’s most Western Town” perfectly captures this exceptional Southwestern gem.
In essence, Scottsdale is one of Arizona’s most expensive cities to call home due to its luxury amenities and tourist attractions that fuel both the housing market and the local economy. Its appeal as a desirable place to live contributes to the high housing prices found here.
3. Cave Creek
Cave Creek is the third most expensive city in Arizona, with an average home price of $830,767. This picturesque town has a population of around 5,838 people who enjoy living in upscale houses surrounded by natural beauty.
With a median household income of $83,787 and a per capita income of $38,070, it is also one of Arizona’s wealthiest cities. One reason behind Cave Creek’s high cost of living is its location. It shares borders with other affluent communities like Scottsdale and Carefree.
The town’s serene atmosphere and gorgeous surroundings make it an attractive option for those seeking luxury homes to settle down in.
4. Carefree
Carefree holds the title of the fourth most expensive city in Arizona, with an impressive average home price of $818,331. This small and charming city has a population of around 3,927 people who enjoy a peaceful lifestyle in one of the state’s most exclusive areas.
One key factor that contributes to Carefree’s high cost is its location. It neighbors other affluent cities like Scottsdale and Cave Creek, which increases its appeal as a desirable place to live.
The breathtaking views and stunning natural landscapes make Carefree an attractive destination for those seeking an upscale lifestyle.
5. Fountain Hills
Fountain Hills is the fifth most expensive city in Arizona, where the average home price stands at an impressive $761,317. This beautiful city has a population of around 25,200 people who appreciate its stunning surroundings and world-class amenities.
Fountain Hills is well-known for its magnificent fountains that draw numerous visitors each year. Located near other prosperous cities like Phoenix and Scottsdale, this charming city offers residents easy access to a variety of entertainment options and conveniences while enjoying a life of luxury.
Moreover, Fountain Hills boasts a high median household income of $85,200, making it one of Arizona’s wealthiest locales. The combination of upscale homes and scenic beauty contributes to the overall cost of living in this enchanting city.
6. Sedona
Sedona is a beautiful city in Arizona known for its stunning red rock formations and vibrant art scene. With an average home price of $729,572, it ranks as one of the most expensive cities in the state.
The high cost might be due to its popularity as a tourist destination and desirable location surrounded by natural beauty.
The city’s economy depends on various sectors such as transportation, education, and healthcare. However, tourism plays a significant role too – many visitors come to explore Sedona’s breathtaking landscapes like Cathedral Rock each year.
7. Gold Canyon
Gold Canyon is an upscale community situated in Arizona, known for its luxury homes and picturesque desert landscapes. As one of the most expensive cities in the state, Gold Canyon boasts an average home price of $645,593.
The high cost is partly because it’s a resort town with many high-end amenities that make it a highly sought-after place to live.
With a population of 11,612 people residing in Pinal County, Gold Canyon got its unique name from weather statements and holds historical significance. The city has a solid median household income of $57,705 which further contributes to its reputation as an affluent area.
Living in Gold Canyon means experiencing the beauty of the mountains and enjoying recreational activities like golfing at top-notch courses while indulging in luxurious surroundings.
8. Catalina Foothills
Nestled in the scenic Santa Catalina Mountains, Catalina Foothills is a prestigious city located north of Tucson in Arizona’s Pima County. As one of the most expensive places to live in the state, it has an average home price of $640,625.
Due to its proximity to Tucson and top-quality amenities such as golf communities and resorts, this city is particularly desirable.
Catalina Foothills has a population of around 50,796 people who enjoy an exceptional quality of life with access to excellent schools and well-maintained neighborhoods. The median household income stands at $65,657 – making it one of the wealthier cities on our list.
In addition to its high-end residential areas, shopping centers like La Encantada play a significant role in drawing attention from homebuyers searching for luxury living within close reach of natural beauty and outdoor activities.
9. Wickenburg
Wickenburg is a charming city located in Arizona, boasting a rich history, cowboy culture, and breathtaking rural scenery. This small town has an average home price of $587,674, making it one of the most expensive places in the state.
Despite being costly, Wickenburg has a relatively low median household income of $31,716 for its 8,092 residents.
One reason for Wickenburg’s high property prices is its collection of luxurious houses spread across vast areas. The Sonoran Desert and Wickenburg Town Hall are among the famous spots that attract visitors to this lovely town.
If you decide to live in Wickenburg, expect wide-open spaces and an authentic taste of Arizona’s western heritage combined with modern-day amenities – truly offering a unique living experience.
10. Flagstaff
Flagstaff is a lively city located in northern Arizona, home to around 75,038 people. Known for its impressive mountain ranges and verdant forests, it is also one of the most expensive cities in Arizona. The average price of a home in Flagstaff stands at $586,538.
Various factors contribute to Flagstaff’s high cost of living. Being a popular tourist destination, the local economy largely depends on tourism which affects property prices. Additionally, lumber and ranching industries play significant roles in supporting the city’s financial landscape.
If you choose to live in Flagstaff, you’ll get to enjoy diverse outdoor activities like hiking and skiing among beautiful landscapes while having access to top-notch amenities that cater to your everyday needs.