Valley ZIP code ranked as nation’s 23rd most expensive community

PHOENIX — Arizona has set a new benchmark on the list of the most expensive ZIP codes in the U.S.

Paradise Valley’s 85253 ZIP code remains the priciest in the state, according to a new report from Property Shark. It’s held this distinction for seven consecutive years.

What makes this year stand out is an 8% year-over-year increase in median sale price, reaching a record $3.5 million.

Located at the base of Camelback Mountain, Paradise Valley had a population of 12,502 in 2023, according to the U.S. Census.

Town stands out as having one of most expensive ZIP codes in US

Paradise Valley, located between Phoenix and Scottsdale, is known for its spacious, gated homes and wealthy residents, including celebrities and business leaders.

Once farmland in the 1800s, the area has transformed into a luxury community filled with multi-acre estates and elegant villas.

Two years ago, the Wall Street Journal highlighted an eclectic home with a million-dollar closet.

Property Shark identified 85253 as the only ZIP code in Arizona to make it into the top 100 most expensive ZIP codes in the U.S. This year, it was the 23rd most expensive in the U.S.

Earlier this year, a mansion in the town sold for $33.5 million, making it the most expensive home in Arizona history.

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