Get & compare mortgage quotes anonymously Start in My Home

Safe Rate Local

Panama, IL

Comprehensive demographics, housing data, local amenities, and economic statistics for Panama.

← Back to Panama Hub

Community Insights

Veteran Community
10% of residents
top 14% nationally
Affordable Market
$111k median home
lower cost than 88% of the country
Leading Industries
Manufacturing · Agriculture & Mining · Wholesale Trade
4% manufacturing
Home Value Growth⬆
+8.3% over 2 years
Young Adults
28% of residents
near the national average
Homeowners
84% of occupied units

People & Demographics

Total Population324
Households—
Under 18
18.0%
Age 18–34
28.0%
Age 35–64
33.0%
Age 65+
21.0%
Veterans
10.0%
Active Duty
0.0%

Housing & Living

Median Home Value$111,008
Median Gross Rent$745/mo
Owner Occupied
84.5%
Renter Occupied
15.5%
Detached Homes
—
Built Pre-1940
—

Economy & Income

Median Household Income$66,219
Poverty Rate—

Key Industries

Healthcare12.0%
Professional Services1.0%
Manufacturing4.0%
Retail13.0%
Education0.0%

Amenities & Transit

Transit Score28 / 100
Walkability / Amenities30 / 100
Commute < 15m
—
Commute 60m+
—

Education

High School Grad
—
Bachelor's Degree
7.0%
Master's or Higher
4.0%
School Enrollment
—

Frequently Asked Questions

What is the population and demographic makeup of Panama?›

The total population of Panama is approximately 324. The largest age group is 35-64 year olds. This demographic data is sourced from the U.S. Census Bureau.

Is Panama walkable and transit-friendly?›

Based on local geographic data, Panama has an amenity and walkability score of 30/100 and a transit score of 28/100. This indicates the area is mostly car-dependent for daily errands and commuting.

Do more people rent or own homes in Panama?›

The housing market in Panama is predominantly driven by homeowners, with 84% of housing units being owner-occupied and 16% being renter-occupied.

What is the education level of residents in Panama?›

In Panama, approximately 7% of adult residents hold a bachelor's degree or higher. Additionally, 4% of the population holds a master's degree or higher. This indicates the local educational attainment compared to state and national averages.