The typical owner-occupied home in Ravenel is worth about $238,700, 8% below the South Carolina median of $259,000 and 28% below the national median of $332,700. Owners pay a median $1,651 a year in property taxes, about 0.69% of their home's value, higher than the South Carolina rate of 0.48%. The median household earns $82,738 a year, so the median home costs 2.9 times the median income (3.7 times for South Carolina). 86% of occupied homes here are lived in by their owners, and 57% of those owners still have a mortgage.
Ravenel at a glance
| Ravenel | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $238,700 | $259,000 | $332,700 |
| Median property tax paid per year | $1,651 | $1,251 | $3,119 |
| Property tax as a share of value | 0.69% | 0.48% | 0.94% |
| Median household income | $82,738 | $69,324 | $80,734 |
| Homes lived in by their owners | 86% | 72% | 65% |
| Owner homes with a mortgage | 57% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,694 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 21.2% | 19.7% | 21.0% |
| Median rent | $1,115 | $1,180 | $1,413 |
| Rent as a share of renters' income | 35.0% | 31.1% | 30.6% |
| Median year homes were built | 1993 | 1992 | 1980 |
| Vacant homes | 6.7% | 13.3% | 10.1% |
| Population | 2,615 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Ravenel
At this week's average 30-year rate of 7.11%, buying the median Ravenel home of $238,700 with 20% down costs about $1,521 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,919, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $65,199 for the 20%-down payment. That payment is 22% of the median Ravenel household income of $82,738; at that income and 20% down, the 28% guideline points to a home of about $303,000.
The median rent here is $1,115 a month, so owning the median home costs about $406 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,740 |
|---|---|
| Loan amount | $190,960 |
| Principal and interest | $1,285 |
| Property taxes (0.69% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| PMI | $0 |
| Total per month | $1,521 |
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| Down payment | $8,354 |
|---|---|
| Loan amount | $234,377 |
| Principal and interest | $1,577 |
| Property taxes (0.69% a year) | $137 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| FHA mortgage insurance | $106 |
| Total per month | $1,919 |
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Questions about home buying in Ravenel
What is the median home value in Ravenel?
About $238,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Ravenel?
Homeowners pay a median $1,651 a year, which is about 0.69% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Ravenel?
For the median home with 20% down at 7.11%, the payment is about $1,521 a month. Keeping that under 28% of gross income takes about $65,199 a year.
More about Ravenel
- Mortgage Refinance in Ravenel
- Debt Relief in Ravenel
- Home Equity Loans in Ravenel
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data