Carefree is bordered by the city of Scottsdale to the south and the town of Cave Creek to the west.
Characterised as an upscale residential area, Carefree was conceived in the mid-1950's by business partners K.T. Palmer and Tom Darlington as a master-planned community. Land sales commenced in 1955 and homebuilding followed shortly thereafter in 1958. Typical of Carefree's character are its street names-- Tranquil Trail, Easy Street, Ho-and-Hum Roads and Long Rifle, Stagecoach and Bloody Basin-- which reflect both its quiet, casual air as well as its Western heritage. The motto of Carefree is "Home of Cowboys and Caviar, Where the Old West Meets the New."
Carefree is home to the third largest sundial in the Western Hemisphere. The town has 15 restaurants, which is 1 restaurant for every 247 people, the highest per capita ratio in the Phoenix area. Carefree is 17 miles west of Barttlet Lake - a man-made reservoir that were formed by the damming of the Verde River.