By Angela Gonzales | Phoenix Business Journal
For years, perhaps decades, residents of Paradise Valley’s 85253 ZIP code have been the top earners in the Valley. But a new ZIP in town has pushed the elite community into second place.
The north Scottsdale ZIP code of 85262 has the No. 1 spot in household wealth, based on 2022 data from the U.S. Census Bureau’s American Community Survey, the most recent data available.
Scottsdale also has the second-highest growth rate for millionaires, according to the USA Wealth Report 2024 from Henley & Partners, which found that the city had a 102% increase in millionaires between 2013 and 2023. Austin, Texas, had the highest rate at 110%.
This inbound wealth shift is accelerating as more people relocate to Scottsdale from Southern California, Chicago, New York City, Seattle and Portland, Oregon, said J. Andrew Turley, president of Phoenix Valuations, which appraises luxury properties.
These areas have shown the highest levels of relative outbound migration patterns nationwide — and many who are leaving these areas list Scottsdale as a top considered destination, he said.
Within that 85262 ZIP code is Desert Mountain, a guard-gated 8,300-acre master-planned community with seven golf courses and clubhouses. Its private, member-owned club is one of the most exclusive and prestigious clubs in the world.
The invitation-only Desert Mountain country club commands a $200,000 initiation fee. With a waiting list.
“Desert Mountain features an adult lifestyle that’s very unique,” said Scott Grigg, owner of Grigg’s Group Powered by the Altman Brothers. “Desert Mountain is basically adult Disneyland for active adults and golfers. Where else can you find a community with seven golf courses?”
The buyer demographic for 85262 versus 85253 has a lot to do with lifestyle preferences, Grigg said.
Wealthy individuals who are attracted to Desert Mountain usually aren’t required to travel into the city every day for work and also may be a seasonal type of buyer, he said.
“Desert Mountain is typically 10 degrees cooler because of its location,” Grigg said. “That makes a difference for a lot of people, as well.”
Grigg, who lives in Paradise Valley, said the Paradise Valley homeowner wants to be near a variety of restaurants, shopping malls and events.
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