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You may have seen our previous report of the Arizona locale named the richest county in the entire state, but do you know which small town is the wealthiest in the Grand Canyon State?
America has plenty of major metropolitan areas like New York and Los Angeles known for being expensive places to live where people making higher-than-average salaries choose to settle down. However, many high-income earners prefer a smaller town outside of a bustling big city to be the place they call home.
According to a list compiled by GOBankingRates, the "richest small town" in all of Arizona is Paradise Valley. This town located outside of Scottsdale has a population of around 12,500 and a median income of $203,659.
Here's how GOBankingRates determined its list of the richest small town in every state:
"In this study, GOBankingRates analyzed U.S. Census Bureau income data in locations in very state with 500 to 15,000 households to determine the wealthiest small towns in America ... from lowest to highest income. Alaska is not included because of a lack of sufficient data."
Check out the full report at gobankingrates.com to read up on more of the richest small towns across the country. You can also see our previous coverage of the Arizona spot named among the "coolest neighborhoods" in America.