Sandwiched between central Phoenix and central Scottsdale, Paradise Valley is the wealthiest municipality in Arizona. This small, affluent town is known for its luxury golf courses, real estate, shopping and restaurants. A popular tourist destination, Paradise Valley is home to eight full-service resorts. Most of the homes in this town sit on an acre or more. The low crime rate and highly-rated schools make it one of Phoenix’s most desirable communities for families. Home prices in this town are among the most expensive in Arizona with the median home cost being almost $1,900,000.