An updated release of annual data from the US Census Bureau estimates the median household income for each of Arizona’s over 400 zip codes.
ABC15 analyzed the data for zip codes with a population over one thousand to find the zip codes with the highest incomes and the ones with the largest jump in homeownership rates.
The five wealthiest zip codes in the Valley:
1. 85253 (Paradise Valley) - The perennial number one ranked wealthiest zip code in the valley with a median household income of $182,000.
2. 85262 (North Scottsdale) - Typically, the second wealthiest zip code, this semi-rural zip code stretching from Loop 101 to Cave Creek has a median household income of $174,000.
3. 85083 (North Phoenix) - This zip code is the location of the TSMC facility in Phoenix and has increased in the rankings with a median household income of $157,000.
4. 85266 (North Scottsdale) - Situated just east of 85262, this zip code has a median household income of $157,000.
5. 85284 (Tempe) - The only zip code on this list not in the northern part of the Phoenix metro, this suburban zip code in south Tempe has a median household income of $154,000.
The Valley zip codes with the largest increase in median household incomes since 2018:
1. 85262 (Noth Scottsdale)
a. Median Household Income: $174,000
b. Increase since 2018: +$54,000
2. 85377 (Carefree)
a. Median Household Income: $143,000
b. Increase since 2018: +$52,000
3. 85087 (New River)
a. Median Household Income: $120,000
b. Increase since 2018: +$49,000
4. 85050 (Desert Vista)
a. Median Household Income: $138,000
b. Increase since 2018: +$48,000
5. 85083 (North Phoenix)
a. Median Household Income: $157,000
b. Increase since 2018: +$48,000
The link between homeownership and median household incomes
One thing all the wealthiest zip codes have in common is high homeownership rates. In Arizona, there is a strong correlation between the two as there is not one zip code in the Valley with a median household income over $100,00 that has a homeownership rate of under 50%.
The five zip codes with the largest increase in homeownership rates since 2013 are in either Pinal County or the West Valley areas of Phoenix and Buckeye. These fast-growing regions would be expected to report higher median household incomes in future census releases.
Three “overperforming” zip codes
Sixteen zip codes in the Valley began the decade with a lower median household income than $53,596, the median income for Maricopa County. However, by 2023 the median income had risen above $85,518. They are 85251 in south Scottsdale, 85353 in Tolleson, and 85042 in south Phoenix.
The last two in particular are the majority Hispanic zip codes with 72% of 85353 reporting as Hispanic.
