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CITY · 2020 ACS

Panama

Illinois · 337 residents · 0.365 sq mi
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The short version

Panama has lower-than-average household income, with a median household income of $55,114. Population has held roughly steady since 2000. 9% of adults hold a bachelor's degree or higher, below the national rate of 33%. Median home value has more than doubled since 2000, reaching $62,900.

At a glance
Lower income
below the US median
US median: $66,278
Older
median age 42.1
US median: 38.8
Less educated
9% hold a bachelor's degree
US average: 33%
Less affordable
home values up 54%, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
337
+4%since 2000
from 323 in 2000
1990 – 2025
Population density
923 / sq mi
+4%since 2000
from 885 / sq mi in 2000
US average: 280
Median age
42.1
−3%since 2000
from 43.3 in 2000
US average: 38.8
Population, 1990 – 2024
1562283003724441990201020202024Panama
2024420
1990201020202024
Section 02

Income & economy

Median household income
$55,114
+27%inflation adjusted, since 2000
from $28,889 in 2000
US average: $66,278
1990 – 2024
Per capita income
$26,720
+24%since 2000
from $21,634 in 2000
US average: $35,364
Households earning $100K+
18.0%
+5.1 ptssince 2009
from 12.9% in 2009
US average: 43.9%
Poverty rate
10.4%
−3.6 ptssince 2000
from 14.0% in 2000
US average: 12.8%
Workforce by industry, 2020
Information17%
US avg: 11.1%
Other services9%
US avg: 6.6%
Public administration9%
US avg: 4.7%
Wholesale trade8%
US avg: 6.7%
Retail trade7%
US avg: 10%
Transportation & warehousing5%
US avg: 2.5%
Finance & insurance2%
US avg: 5.5%
Professional, scientific, technical2%
US avg: 4.7%
Agriculture, forestry, fishing1%
US avg: 1.7%
Construction1%
US avg: 1.2%
Arts, entertainment, food1%
US avg: 2%
Manufacturing0%
US avg: 0.5%
Education & health services0%
US avg: 0.8%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$62,900
+54%inflation adjusted, since 2000
from $27,200 in 2000
US average: $265,253
1990 – 2024
Median gross rent
$667
+20%inflation adjusted, since 2000
from $371 in 2000
US average: $1,124
Owner-occupied
77.9%
−13.1 ptssince 2000
from 91.0% in 2000
22.1% rent
Afford Score
1.1
+21%since 2000
from 0.9 in 2000
1990 – 2024
RELATED:See current rent listings in Panama on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic97.8%(316)
Black0%(0)
Hispanic / Latino0%(0)
Asian0%(0)
Other0%
Diversity Score0%(0)
2020
White, non-Hispanic93.2%(314)
Black0%(0)
Hispanic / Latino2.1%(7)
Asian0.6%(2)
Other1.4%(5)
Diversity Score10.1%(34)
Diversity Score
10
from 0 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
9.4%
+8.1 ptssince 2000
from 1.3% in 2000
US average: 32.9%
High school or higher
85.3%
+13.0 ptssince 2000
from 72.3% in 2000
US average: 88.5%
Graduate degree
5.3%
+4.9 ptssince 2000
from 0.4% in 2000
US average: 12.7%
Section 06

Commute & transportation

Average commute
35.3 min
+41%since 2000
from 25.1 min in 2000
US average: 26.9
Drive alone to work
62.6%
−28.7 ptssince 2009
from 91.3% in 2009
US average: 75.1%
No vehicle available
3.6%
−1.7 ptssince 2009
from 5.3% in 2009
US average: 8.4%
Section 07

Work & employment

Unemployment rate
5.7%
−7.9 ptssince 2011
from 13.6% in 2011
US average: 5.4%
Labor force participation
57.9%
+10.6 ptssince 2011
from 47.4% in 2011
US average: 63.4%
Management & professional
26.0%
−47.9 ptssince 2009
from 73.9% in 2009
US average: 39.3%
Section 08

People & community

Male
46.6%
−2.8 ptssince 2009
from 49.4% in 2009
Female
53.4%
+2.8 ptssince 2009
from 50.6% in 2009
Foreign born
0.5%
−1.1 ptssince 2009
from 1.6% in 2009
US average: 13.5%
Uninsured
5.0%
−80.7 ptssince 2013
from 85.7% in 2013
US average: 8.8%
Drill deeper

Places similar to Panama

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Pop 339
Homeland
Pop 363
Westville
Pop 274
Harold
Pop 368
Places similar to Panama
Head to head

Compare Panama to nearby cities

PANAMA VS
Highland
Income$82,551+50%
Home value$202,900+223%
Population10,042+2990%
SEE FULL COMPARISON →
PANAMA VS
Troy
Income$112,434+104%
Home value$268,000+326%
Population11,893+3559%
SEE FULL COMPARISON →
PANAMA VS
Bethalto
Income$64,775+18%
Home value$168,900+169%
Population9,202+2731%
SEE FULL COMPARISON →
PANAMA VS
Edwardsville
Income$86,721+57%
Home value$299,800+377%
Population26,463+8042%
SEE FULL COMPARISON →
Frequently asked

How many people live in Panama, Illinois?

Panama, Illinois has about 337 residents according to the 2020 American Community Survey.

What is the median household income in Panama, Illinois?

The typical household in Panama, Illinois earns about $55,114 a year. Half of households make more than that, and half make less.

Is Panama, Illinois expensive?

In Panama, Illinois, the median home is worth about $62,900, and the typical rent is about $667 a month.

How educated are people in Panama, Illinois?

About 9.4% of adults age 25 and over in Panama, Illinois hold a bachelor's degree or higher.

What is the poverty rate in Panama, Illinois?

About 10.4% of people in Panama, Illinois live below the federal poverty line.

Has Panama, Illinois grown since 1990?

Yes, Panama, Illinois has grown since 1990. The population has added about 33 residents, a change of about 11 percent over that period.

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

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