We present an analytic real-space renormalization group calculation for the random-field Ising model. We apply the Migdal-Kadanoff approximation for the renormalization of a cubic cell in dimensions d, introducing a new field partitioning scheme which allows us to treat the random-field fluctuations in a coherent manner. Our scheme leads naturally to a lower critical dimensionality and allows us to calculate a complete set of three independent exponents in arbitrary dimension. In three dimensions the magnetization exponent and the Schwartz-Soffer inequality is almost satisfied as an equality. We expand analytically in . Further, we show that and the magnitude of the inequality go to zero exponentially with . We calculate the crossover exponent, from pure to the random-field system and find surprisingly good agreement with experimental values. We find that satisfies the Schwartz-Soffer inequality: , the susceptibility exponent of the pure system. We expand in and find that the magnitude of the inequality varies exponentially in . Finally we find that dimensional reduction is satisfied to first order in , with the reduced dimension .