This small town is the richest city in Arizona. Spoiler: it’s not Scottsdale

Arizona, and the metro Phoenix area especially, has its share of wealthy people.

In fact, a recent article from The Arizona Republic showed that 1 in 17 residents in Scottsdale is a millionaire. But outside of wealthy individuals, which Arizona town is the richest, on average? (Hint: it’s not Scottsdale.)

That’s the question that Stacker set out to answer when it released a list of the richest towns in all 50 states. Using the Census Bureau’s American Community Survey Five-Year Data, Stacker ranked the cities by median household income, percentage of people living below the poverty level and more.

Here’s the richest city in Arizona, and why.

More: How much money do you need to make to be happy in Arizona? A lot, according to this study

What is the richest city in Arizona?

Paradise Valley claims the title of richest city in Arizona, with a median household income of $221,333. A majority (54.9%) of all households earn over $200,000. The poverty rate is 2.9%, compared with 12.5% state-wide.

A suburb east of Phoenix with a population of about 12,600, Paradise Valley is known for its two luxury golf courses and sprawling, gated homes.

It appears that the wealth of the residents does not come from businesses within the city. According to the community profile on Paradise Valley from the Arizona Commerce Authority: “Paradise Valley is home to many CEOs, professional athletes and business owners who operate their ventures outside of Paradise Valley.”

One high-profile resident of Paradise Valley is none other than the most decorated Olympian of all time, Michael Phelps.

What are the richest cities in the US?

Twelve cities had a median household income of $250,000, including ones in Missouri, Illinois and Kansas. However, to break the tie, Stacker also included the percentage of households earning over $200,000, making these the richest cities in the U.S.

• Hillsborough, California: 69.6% of households make over $200,000
• Belle Meade, Tennessee: 74% of households make over $200,000
• Scarsdale, New York: 74.3% of households make over $200,000
• Hunters Creek Village, Texas: 75% of households make over $200,000
• Chevy Chase, Maryland: 76.7% of households make over $200,000