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CITY · 2020 ACS

Panama

Iowa · 235 residents · 0.29 sq mi
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The short version

Panama has roughly average household income, with a median household income of $70,625. Population has held roughly steady since 2000. 18% of adults hold a bachelor's degree or higher, below the national rate of 33%. Median home value is $91,700. Poverty is rare here, at 2.6% of residents.

At a glance
Wealthier
above the US median
US median: $66,278
Older
median age 42.1
US median: 38.8
Less educated
18% hold a bachelor's degree
US average: 33%
Stable housing
home values roughly flat, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
235
+11%since 2000
from 212 in 2000
1990 – 2025
Population density
810 / sq mi
+11%since 2000
from 731 / sq mi in 2000
US average: 280
Median age
42.1
+6%since 2000
from 39.7 in 2000
US average: 38.8
Population, 1990 – 2024
1772062352642931990201020202024Panama
2024245
1990201020202024
Section 02

Income & economy

Median household income
$70,625
+24%inflation adjusted, since 2000
from $37,917 in 2000
US average: $66,278
1990 – 2024
Per capita income
$32,449
+62%since 2000
from $20,078 in 2000
US average: $35,364
Households earning $100K+
46.4%
+27.2 ptssince 2009
from 19.2% in 2009
US average: 43.9%
Poverty rate
2.6%
−3.0 ptssince 2000
from 5.6% in 2000
US average: 12.8%
Workforce by industry, 2020
Finance & insurance33.8%
US avg: 5.5%
Professional, scientific, technical33.1%
US avg: 4.7%
Agriculture, forestry, fishing10.4%
US avg: 1.7%
Construction10.4%
US avg: 1.2%
Information9.1%
US avg: 11.1%
Retail trade5.2%
US avg: 10%
Transportation & warehousing3.9%
US avg: 2.5%
Wholesale trade3.2%
US avg: 6.7%
Arts, entertainment, food2.6%
US avg: 2%
Other services2.6%
US avg: 6.6%
Public administration2.6%
US avg: 4.7%
Education & health services0.6%
US avg: 0.8%
Manufacturing0%
US avg: 0.5%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$91,700
−3%inflation adjusted, since 2000
from $63,200 in 2000
US average: $265,253
1990 – 2024
Owner-occupied
86.9%
−3.7 ptssince 2000
from 90.6% in 2000
13.1% rent
Afford Score
1.3
−22%since 2000
from 1.7 in 2000
1990 – 2024
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)
2020
White, non-Hispanic97.4%(229)
Black0%(0)
Hispanic / Latino0.4%(1)
Asian0%(0)
Other1.5%(3)
Diversity Score4.7%(11)
Diversity Score
5
+295%since 2000
from 1 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
17.6%
+7.9 ptssince 2000
from 9.7% in 2000
US average: 32.9%
High school or higher
93.9%
+8.1 ptssince 2000
from 85.8% in 2000
US average: 88.5%
Graduate degree
4.2%
+2.3 ptssince 2000
from 1.9% in 2000
US average: 12.7%
Section 06

Commute & transportation

Average commute
14.0 min
−16%since 2000
from 16.7 min in 2000
US average: 26.9
Drive alone to work
87.7%
+16.8 ptssince 2009
from 70.9% in 2009
US average: 75.1%
No vehicle available
2.1%
−3.7 ptssince 2009
from 5.8% in 2009
US average: 8.4%
Section 07

Work & employment

Unemployment rate
0.0%
−8.1 ptssince 2011
from 8.1% in 2011
US average: 5.4%
Labor force participation
72.6%
−9.6 ptssince 2011
from 82.2% in 2011
US average: 63.4%
Management & professional
38.3%
−12.9 ptssince 2009
from 51.2% in 2009
US average: 39.3%
Section 08

People & community

Male
38.6%
−15.4 ptssince 2009
from 54.0% in 2009
Female
61.4%
+15.4 ptssince 2009
from 46.0% in 2009
Foreign born
0.0%
Unchangedsince 2009
from 0.0% in 2009
US average: 13.5%
Uninsured
1.8%
−94.5 ptssince 2013
from 96.3% in 2013
US average: 8.8%
Drill deeper

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Head to head

Compare Panama to nearby cities

PANAMA VS
Denison
Income$65,684−7%
Home value$150,200+64%
Population8,214+3456%
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PANAMA VS
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Income$64,578−9%
Home value$171,800+87%
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PANAMA VS
Carroll
Income$69,706−1%
Home value$188,700+106%
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PANAMA VS
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Income$73,201+4%
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Population488,797+211500%
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Frequently asked

How many people live in Panama, Iowa?

Panama, Iowa has about 235 residents according to the 2020 American Community Survey.

What is the median household income in Panama, Iowa?

The typical household in Panama, Iowa earns about $70,625 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 $91,700.

How educated are people in Panama, Iowa?

About 17.6% 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 2.6% 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 28 residents, a change of about 14 percent over that period.

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

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