Paradise Valley ranks among list of wealthiest towns in America
PHOENIX — An annual ranking has identified the “richest towns” in America.
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.
Moving up six spots from last year’s list, Paradise Valley had an average household income of roughly $328,000.
The top 100 rankings revealed a large concentration of wealth with 23 spots in California alone, and another 32 residing in the tri-state area of New Jersey, Connecticut and New York.
The top spot was claimed by Atherton, California, for the fourth straight year and is home to many tech industry titans and sports icons.
With an average household income of more than $525,000, Atherton is the only town on the list to break the half million mark.
Rounding out the top five in order are: Scarsdale, New York; Hilsborough, California; Cherry Hills Village, Colorado; and Los Altos Hills, California.