Ravenna, MI
Population 1,472 · Michigan
About Ravenna, MI
Ravenna is a small town located in Michigan with a population of 1,472 residents according to the latest US Census Bureau American Community Survey data. The median household income is $73,233 per year, which is 3% below the national median of $75,149. The median age of 34.5 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Ravenna features a median home value of $191,300, which is 22% below the national median of $244,900. This positions Ravenna in a moderately priced market relative to the rest of the country. Median monthly rent is $809, 30% below the national average of $1,163/month. Of the 537 total housing units, 82% are owner-occupied (427 units) and 18% are renter-occupied (96 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Ravenna shows an unemployment rate of 1.9%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.7%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Ravenna have an average one-way commute time of 28.9 minutes.
Education & Demographics
26.0% of Ravenna residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 7.5% White, 0.9% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 1.0% of the population being foreign-born.
Cost of Living in Ravenna, MI
Compared to national averages, Ravenna has a median household income of $73,233 (3% below the national median of $75,149). Home values average $191,300, which is 22% below the national median. Monthly rent at $809 is 30% below the US average of $1,163. Within Michigan, Ravenna's income is 11% above the state average of $66,017, and home values are 4% above the state median of $183,391.
Why Live in Ravenna, MI?
Ravenna offers affordable housing with a median home value of $191,300, below the US average of $244,900, and rent that’s lower than the national average at $809/month, and a strong job market with an unemployment rate of just 1.9%. Additionally, the city features a low poverty rate of 6.7%, better than the national average.
Potential considerations include median household income ($73,233) that falls below the national average. However, Ravenna’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Ravenna has a population of 1,472 with a median age of 34.5 years. Compare Ravenna with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Ravenna
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Shorewood-Tower Hills-Harbert | 1,468 | $80,642 | $296,000 | Compare |
| Laurium | 1,486 | $42,206 | $87,600 | Compare |
| Quincy | 1,487 | $59,079 | $111,800 | Compare |
| Newberry | 1,453 | $49,758 | $65,800 | Compare |
| Mancelona | 1,496 | $50,430 | $123,900 | Compare |
| Fowler | 1,446 | $72,261 | $194,400 | Compare |
| Mio | 1,504 | $47,578 | $96,600 | Compare |
| Shepherd | 1,438 | $76,591 | $147,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Ravenna With Other Cities
Frequently Asked Questions about Ravenna
What is the population of Ravenna, MI?
The population of Ravenna, MI is 1,472 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Michigan.
What is the median household income in Ravenna?
The median household income in Ravenna, MI is $73,233 per year, which is 3% below the national median of $75,149.
What is the median home value in Ravenna?
The median home value in Ravenna, MI is $191,300, which is 22% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Ravenna?
The median monthly rent in Ravenna, MI is $809, which is 30% below the national average of $1,163/month.
What is the unemployment rate in Ravenna?
The unemployment rate in Ravenna, MI is 1.9%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Ravenna, MI a good place to live?
Ravenna offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,472 and a median age of 34.5, the city appeals to young professionals and families.
How educated is Ravenna, MI?
26.0% of residents in Ravenna aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Ravenna?
Key cost-of-living indicators for Ravenna, MI: median home value is $191,300 (22% below national), median rent is $809/month, and median household income is $73,233. The home-value-to-income ratio is 2.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Ravenna?
The poverty rate in Ravenna, MI is 6.7%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Ravenna, MI?
Ravenna's population is 7.5% White, 0.9% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.2% two or more races. 1.0% of residents are foreign-born.