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CITY

Panama

Iowa · 231 residents (2025 est.) · 0.29 sq mi
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The short version

Panama has lower-than-average household income, with a median household income of $63,125. Population has grown 16% since 2000. 14% of adults hold a bachelor's degree or higher, below the national rate of 36%. Median home value has more than doubled since 2000, reaching $142,200.

At a glance
Lower income
below the US median
US median: $82,259
Younger
median age 36.7
US median: 38.9
Less educated
14% hold a bachelor's degree
US average: 36%
Stable housing
home values roughly flat, inflation adjusted
US median home: $376,019
Section 01

Population & growth

Total population
245
+16%since 2000
from 212 in 2000
1990 – 2025
Population density
845 / sq mi
+16%since 2000
from 731 / sq mi in 2000
US average: 281
Median age
36.7
−8%since 2000
from 39.7 in 2000
US average: 38.9

PEP 2025 EST:231 residents (Census Bureau Vintage 2025, released March 2026)

Population, 1990 – 2024
1772062352642931990201020202024Panama
2024245
1990201020202024
Section 02

Income & economy

Median household income
$63,125
−9%inflation adjusted, since 2000
from $37,917 in 2000
US average: $82,259
1990 – 2024
Per capita income
$44,847
+123%since 2000
from $20,078 in 2000
US average: $44,673
Households earning $100K+
46.9%
+27.7 ptssince 2009
from 19.2% in 2009
US average: 53.3%
Poverty rate
7.4%
+1.8 ptssince 2000
from 5.6% in 2000
US average: 12.5%
Income inequality (Gini)
0.439
+25%since 2010
from 0.352 in 2010
US average: 0.476
Workforce by industry, 2024
Finance & insurance43.4%
US avg: 5.9%
Professional, scientific, technical42.7%
US avg: 5.1%
Agriculture, forestry, fishing9.8%
US avg: 1.6%
Construction9.8%
US avg: 1.2%
Information2.8%
US avg: 10.8%
Wholesale trade2.1%
US avg: 6.9%
Transportation & warehousing2.1%
US avg: 2.2%
Retail trade1.4%
US avg: 9.9%
Education & health services0.7%
US avg: 0.9%
Arts, entertainment, food0.7%
US avg: 1.9%
Other services0.7%
US avg: 6.7%
Public administration0.7%
US avg: 4.8%
Manufacturing0%
US avg: 0.4%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$142,200
+24%inflation adjusted, since 2000
from $63,200 in 2000
US average: $376,019
1990 – 2024
Median gross rent
$940
+53%inflation adjusted, since 2000
from $338 in 2000
US average: $1,442
Owner-occupied
77.0%
−13.6 ptssince 2000
from 90.6% in 2000
23.0% rent
Vacancy rate
5.8%
−5.3 ptssince 2009
from 11.1% in 2009
US average: 10.0%
Owner cost-burdened
14.9%
+8.5 ptssince 2009
from 6.4% in 2009
US average: 22.9%
Renter cost-burdened
92.3%
+57.7 ptssince 2009
from 34.6% in 2009
US average: 47.4%
Afford Score
2.3
+35%since 2000
from 1.7 in 2000
1990 – 2024
Gentrification Score
44
RELATED:See current rent listings in Panama on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic98.1%(208)
Black0.5%(1)
Hispanic / Latino0%(0)
Asian0%(0)
Other0%
Diversity Score1.2%(3)
2024
White, non-Hispanic88.6%(217)
Black0%(0)
Hispanic / Latino8.2%(20)
Asian0%(0)
Other3.3%(8)
Diversity Score26%(64)
Diversity Score
26
+2082%since 2000
from 1 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
13.8%
+4.1 ptssince 2000
from 9.7% in 2000
US average: 35.6%
High school or higher
98.1%
+12.3 ptssince 2000
from 85.8% in 2000
US average: 89.6%
Graduate degree
4.4%
+2.4 ptssince 2000
from 1.9% in 2000
US average: 14.0%
Section 06

Commute & transportation

Average commute
17.5 min
+4%since 2000
from 16.7 min in 2000
US average: 26.5
Drive alone to work
81.1%
+10.3 ptssince 2009
from 70.9% in 2009
US average: 68.9%
Carpooled to work
1.4%
−8.8 ptssince 2009
from 10.2% in 2009
US average: 8.5%
Public transit
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 3.2%
Worked from home
3.5%
+3.5 ptssince 2009
from 0.0% in 2009
US average: 15.0%
Walked to work
14.0%
−4.9 ptssince 2009
from 18.9% in 2009
US average: 2.4%
Biked to work
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 0.4%
No vehicle available
5.3%
−0.5 ptssince 2009
from 5.8% in 2009
US average: 8.3%
Section 07

Work & employment

Unemployment rate
2.7%
−5.4 ptssince 2011
from 8.1% in 2011
US average: 5.2%
Labor force participation
70.0%
−12.2 ptssince 2011
from 82.2% in 2011
US average: 63.5%
Self-employed
4.9%
+1.0 ptssince 2009
from 3.9% in 2009
US average: 13.1%
Management & professional
34.3%
−16.9 ptssince 2009
from 51.2% in 2009
US average: 42.5%
Section 08

People & community

Male
36.3%
−17.7 ptssince 2009
from 54.0% in 2009
Female
63.7%
+17.7 ptssince 2009
from 46.0% in 2009
Foreign born
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 14.1%
Veterans
5.7%
−47.6 ptssince 2009
from 53.3% in 2009
US average: 6.2%
With a disability
20.4%
+8.6 ptssince 2012
from 11.8% in 2012
US average: 13.3%
Uninsured
2.0%
−94.3 ptssince 2013
from 96.3% in 2013
US average: 8.4%
Broadband at home
93.8%
+19.4 ptssince 2017
from 74.4% in 2017
US average: 91.0%
English only at home
100.0%
+0.5 ptssince 2016
from 99.5% in 2016
US average: 77.7%
Spanish at home
0.0%
−0.5 ptssince 2016
from 0.5% in 2016
US average: 13.6%
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Frequently asked

How many people live in Panama, Iowa?

Panama, Iowa has about 245 residents according to the 2024 American Community Survey.

What is the median household income in Panama, Iowa?

The typical household in Panama, Iowa earns about $63,125 a year. Half of households make more than that, and half make less.

Is Panama, Iowa expensive?

In Panama, Iowa, the median home is worth about $142,200, and the typical rent is about $940 a month.

How educated are people in Panama, Iowa?

About 13.8% of adults age 25 and over in Panama, Iowa hold a bachelor's degree or higher.

What is the poverty rate in Panama, Iowa?

About 7.4% of people in Panama, Iowa live below the federal poverty line.

Has Panama, Iowa grown since 1990?

Yes, Panama, Iowa has grown since 1990. The population has added about 38 residents, a change of about 18 percent over that period.

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DATA: US CENSUS BUREAU ACS 5-YEAR + DECENNIAL CENSUS · UPDATED 2024

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