Ravenna, South Dakota is a small town with a population of just over 200 people. Despite its small size, Ravenna offers many local amenities for its residents. The cost of living is lower than the national average, with 2-bedroom rent costing $850 compared to the US average of $1,430. Additionally, Ravenna boasts low grocery costs at 96 compared to the national index of 100.
The economy in Ravenna is generally dominated by agriculture and farming; however, the town also has other businesses such as R&B Construction and Crop Production Services Inc. In addition to its agriculture industry, Ravenna offers attractions such as the outdoor recreation area Cascade Falls Park and Artisan’s Corner Gift Shoppe - a unique shopping experience for locals and visitors alike.
Ravenna has an unemployment rate of 3.3%. The US average is 6.0%.
Ravenna has seen the job market decrease by -1.3% over the last year. Future job growth over the next ten years is predicted to be 11.4%, which is lower than the US average of 33.5%.
Tax Rates for Ravenna
- The Sales Tax Rate for Ravenna is 4.5%. The US average is 7.3%.
- The Income Tax Rate for Ravenna is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Ravenna
- The average income of a Ravenna resident is $4,630 a year. The US average is $28,555 a year.
- The Median household income of a Ravenna resident is $14,231 a year. The US average is $69,021 a year.