Cost of Living in Ravenna, OH
Cost of Living in Ravenna, OH has an overall index of 73, 27% below the U.S. baseline of 100. The typical home value is $129,400; typical monthly rent is $885; and median household income is $52,368.
Cost index: committed city housing/rent inputs and BEA 2024 metro-area price parities. Home value: Census ACS 2023 fallback place estimate. Rent: Census ACS 2023 fallback place estimate. A place-level signal, not a personal affordability decision or financial recommendation.
Rent and home prices are comparatively balanced with local income. This describes the local market, not your household.
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Frequently asked questions about Ravenna
Living in Ravenna
Is Ravenna, OH an affordable place to live?+
Yes — everyday expenses in Ravenna run about 27% below the US average (Cost Index: 73). Housing is especially affordable: the median home is valued around $129,400, compared to the $303,400 national median. Monthly rent is $885, versus $1,348 nationally.
How does Ravenna fit a household housing budget?+
Start with housing. Typical monthly rent is $885, while local median household income is $52,368. That implies a rent-burden proxy of about 20% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Ravenna, OH?+
Ohio uses an approximate state-income-tax planning model; 3.5% is top marginal-rate context from the tax snapshot. Applying the 1.53% state-level effective owner-occupied proxy to a home worth $129,400 gives a planning estimate near $1,980 per year; it is not a city, county, parcel, or individual tax bill. State plus average local sales-tax context is around 7.24%.
How much does it cost to rent in Ravenna, OH?+
The typical monthly rent in Ravenna is around $885. That's roughly 34% lower than the $1,348 national median. For comparison, the median home value here is $129,400, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Ravenna, OH?+
The typical home value in Ravenna is $129,400. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $628/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 50% of residents here own their homes.
Are groceries and utilities expensive in Ravenna?+
Grocery prices in Ravenna are more affordable compared to the rest of the US (index: 94, where 100 is the national average). Utility bills (electricity, gas, water) are about typical (index: 96). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Ravenna, OH like to live in?+
Ravenna is a small town with a population of about 11,286. The median age of residents is 38, which is close to the national median. The local poverty rate is 21.17%, above the national average of 12.4%.