Rio Verde Real Estate Info

A census-designated place in Maricopa County, Rio Verde, Arizona, is a gated, master-planned community that lies in the McDowell Mountain Range, about 30 miles northeast of Scottsdale and 50 miles from Phoenix. As of July 2007, the community was home to more than 1,700 residents and it made up an area of almost 5.5 square miles. The community sits on the western edge of the Verde River, from which it gets its name.

The area that now encompasses Rio Verde was first settled by farmers in the 1880s who planted down here and began growing and harvesting hay and alfalfa for the nearby Fort McDowell U.S. Army camp. Near the turn of the 19th century, a man named William W. Moore bought several of the farm plots along the Verde River and combined them into what became known as the Box Bar Ranch, raising cattle. His sons inherited the area after his death, and in 1955 they sold the area to the Page Land & Cattle Co. In turn, the Page Land & Cattle Co. sold the area in 1970 to Rio Verde Development, Inc., which began development of the master-planned community in 1973. That same year, an 18-hole golf course was completed, with a second added in 1981; both underwent extensive renovations recently, in 2007.

The community sits on 735 acres, of which more than 700 are for residential, commercial and recreational development. There are currently an estimated 1,080 Rio Verde homes in the community, which is an age-restricted community requiring at least one member of every household to be 55 years or older and prohibiting permanent residents under the age of 19. Because of this rule, the median age in the community is high, 68.7. The median household income for Rio Verde residents in 2008 was estimated at more than $107,000 for an estimated per capita income of more than $72,000. Rio Verde real estate had an estimated median value at that same time of more than $711,000.

Of the residents of the community who are still employed, around 80% work in the professional, scientific and technical services fields. The nearest hospitals to Rio Verde are in Scottsdale and Phoenix and it is 10 miles to Fountain Hills, the nearest stop to buy groceries and other necessities. Rio Verde is just 45 minutes to the Phoenix’s Sky Harbor International Airport and only about five minutes from the large McDowell Mountain Regional Park. The community offers residents a wealth of activities and amenities, from 36 holes of golf, tennis courts, a heated pool and a fitness center to on-site religious services (both Protestant and Catholic), lecture series, volunteer opportunities and a number of clubs and classes.