With 300 sunny days a year, low taxes and safe streets, it’s no wonder Californians flock to the so-called “Beverly Hills of Arizona.”
Located between Phoenix and Scotsdale, Paradise Valley is Arizona’s wealthiest community, with the average home costing a whopping $2.87 million.
The affluent area has already proven popular with celebrities such as Alicia Keys, Michael Phelps and Stevie Knicks.
And now a large number of new residents are arriving from California, luxury real estate agent Joan Levinson said Business insider – with recent transplants showing that they were simply fed up with rising crime and the high cost of living.
Paradise Valley is Arizona’s wealthiest community, located between Phoenix and Scotsdale, and features luxury golf courses
On the market for $8,888,888, this five-bedroom home is nestled among cacti and dramatic rock outcrops – designed to maximize views of Camelback and Mummy Mountains
Homebuyers want to leave expensive, crime-ridden big cities like Los Angeles and San Francisco
Figures show that California has been losing more and more residents in recent years to Maricopa County, Arizona’s most populous county.
Between 2016 and 2020, an average of 1,555 people moved annually from Santa Clara County, home to the Silicon Valley tech hub. This is an increase of 38 percent compared to the period between 2011 and 2015, Business Insider reports.
Meanwhile, Los Angeles County lost an average of 8,614 residents annually to Maricopa County between 2016 and 2020 — a 48 percent increase from 2011 to 2015.
And San Diego has brought 5,206 residents to the area annually as of 2016.
Kelly Jones, an Arizona real estate agent, told Business Insider, “California as a whole has taxes that have really affected everyone, and they’re looking at the cost of living there versus here. It’s a lot cheaper to live here.’
Arizona also has lower crime rates, which is a huge draw for residents of many major California cities – with more and more people leaving cities like LA and San Francisco in the wake of crippling homelessness, crime and opioid crises.
The desert and mountain town of Paradise Valley is Arizona’s wealthiest community, located east of the capital Phoenix and spanning 16 miles from Scottsdale to Camelback Mountain.
Known for its luxury golf courses, it is made up of more than 5,000 homes, with the best properties selling for well over $20 million.
Venture Capital founder Ken Sawyer moved to Paradise Valley from San Francisco with his family in 2019.
He told Business Insider: “Every month there are more and more people, both from the tech world and from California in general.
‘We love San Francisco. But it stopped providing the public education we wanted, stopped providing the security we wanted.
“The ability to live in Paradise Valley has really given us a much better quality of life.”
Taylor and Amelia Graber moved to Paradise Valley from San Diego in 2021.
Medical entrepreneur Taylor told Business Insider, “I love San Diego. But the cost of living is more expensive there. Buying a house is more expensive there. Taxes are more expensive there.’
Graber estimated that the marginal tax rate on their household income in California was more than twice that in Arizona, at 4.5 percent.
Arizona also has a thriving tech scene, making it easier for Californians to leave their Silicone Valley jobs.
This under-construction $75 million home is the most expensive on the market in Paradise Valley
Renderings of the property show multiple pools, complete with a waterfall and lazy river
The offer promises two bowling alleys, an indoor shooting range, a golf simulator and a cinema/Metaverse room
According to Realtor.com, the annual median home price in Paradise Valley last year was $2.87 million, a 14 percent increase from the year before.
This is more expensive than the average price tag of properties in San Francisco and Los Angeles of $1.19 million and $957,000, respectively, Business Insider reported.
The most expensive neighborhood in Paradise Valley is Clearwater Hills, where mansions cost between $20 and $30 million.
Designers in the area favor Georgian and Mediterranean styles, but modern glass and metal construction is also commonplace.
Robert Joffe, founder and associate broker of the Joffe Group, told Mansion Global: “This area of Arizona has tremendous appeal. People are flocking from all over the country to buy a house here.’
He added, “It wasn’t that long ago, maybe five years ago, that I sold the most expensive house on the MLS (in Arizona), and it went for $12.75 million.”
Last year, an 18,500-square-foot home near Mummy Mountain broke that record and sold for $23.5 million.
And the record is set to be broken again with five homes currently listed for more than $25 million, according to real estate site Redfin.
The area is popular with celebrities such as Alicia Keys, Michael Phelps and Stevie Knicks, all of whom previously owned properties there.
Keys described her four-bedroom estate as “a magical place” in 2016, before selling it for $3.1 million.
She said: ‘The wonderful climate, amazing scenery, art and culture, and the fact that Phoenix isn’t as overrun as some other warm weather destinations were also a big reason for us.’
This sprawling 16,035-square-foot estate is for sale for $20 million
The $20 million home has eight beds and 10 bathrooms spread across multiple buildings
The main cabinet alone cost $1 million to design and build
The house was designed by Matt Boland and renovated and enlarged from 2015 to 2023
According to the listing, the owner spent a year and a half searching for the site and another year along with millions of dollars excavating the land.
It then took 2.5 years to build the house from steel and blocks
Olympic swimmer Phelps even secretly married his wife Nicole Johnson in 2015.
The couple then moved to a mansion nearby and stayed there for three years before deciding they needed more space in 2018 and selling the house for $3.5 million – but they reportedly stayed in the area.
The most expensive home currently listed in Paradise Valley is a $75 million, 13-bedroom, 16-bathroom, 40,000-square-foot modernist palace.
It’s under construction, but the images show an impressive entrance with pools (even a lazy river) and lounge areas.
And there won’t be a lack of entertainment, as the ad promises: “Two bowling alleys, indoor shooting range, golf simulator, movie theater/Metaverse room, spa, one home gym, casino room, recording studio, collector’s gallery.”
For those who want to relax, there is a ‘sauna, snow room, vitality pools and two massage/treatment rooms’.