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Ravenna

Learn about the people, housing, costs and businesses in Ravenna, Ohio

Median Home$149,360
Median Rent$924/month
Population20,337
Leading IndustriesRetail · Manufacturing · Wholesale Trade19% retail
Home Value Growth⬆⬆⬆+24.1% over 2 years
Young Adults31% of residentsabove average nationally
Homeowners63% of occupied units
NotableAffordable Market$149k median home · lower cost than 84% of the country
Ravenna
OH

Frequently Asked Questions

What are today's mortgage rates in Ravenna?

As of today, the 30-year fixed mortgage rate for Ravenna is approximately 7.025% (7.069% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Ravenna?

The median home value in Ravenna is $149k. The median monthly rent is $924. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Ravenna?

Home values in Ravenna have increased 24.1% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Ravenna?

Based on a typical all-in ownership cost of $930/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $40k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Ravenna is $61k/year.

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What industries drive the economy in Ravenna?

The largest employment sectors in Ravenna are public administration (20%) and retail (19%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.