Valencia is an affluent neighborhood of Santa Clarita in Los Angeles County, California. It is located in the northwestern corner of the Santa Clarita Valley adjacent to Interstate 5. A formerly independent planned community, it was one of the four unincorporated communities (along with Saugus, Newhall, and Canyon Country) that merged to create the city of Santa Clarita, California in 1987. As of 2010, the population of the 91355 zip code was 32,605 and, the estimated median household income was $88,744. In 2006, Santa Clarita was ranked as one of the top 100 places to live by Money magazine. Valencia is home to the Six Flags Magic Mountain theme park and the adjacent Six Flags Hurricane Harbor water park.