The surname Raney began as a patronymical name (American Heritage Dictionary: Patronymic - a name received from a paternal ancestor; especially, one formed by a prefix or suffix, as in Johnson, the son of John, or Fitzgerald, the son of Gerald.). The name means, "descendant of little Ren (counsel, judgment)." It is estimated that there are 3300 Raney households in the US and Canada, with Texas having the most.
The Raney name has many derivations such as: Ranney, Rainey, Rainy, Reanie, Renny. The name and the derivations are coded within the Soundex (Sound plus index) System as R500.
RAINEY - This surname is found mainly in eastern Ulster, in Co. Antrim and Co. Down, where it may denote descent from an Irish family, O'Raighne, or may be of settler origin. There is evidence also that in Co. Down it was interchangeable with the Scottish surname Rennie. Reaney, an anglicization of O'Raighne, is found in Connacht. ("Irish Family Names - Arms, Origins and Locations" by Brian de Breffny, published by W.W. Norton & Co.)