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CITY · 2020 ACS

Panama

New York · 475 residents · 2.209 sq mi
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The short version

Panama has notably lower household income than the US average, with a median household income of $45,938. Population has declined 3% since 2000. 10% of adults hold a bachelor's degree or higher, below the national rate of 33%. Median home value is $79,500. Households here earn about 35% less than the New York median.

At a glance
Lower income
below the US median
US median: $66,278
Older
median age 43.5
US median: 38.8
Less educated
10% hold a bachelor's degree
US average: 33%
More affordable
home values down 13%, inflation adjusted
US median home: $265,253
Section 01

Population & growth

Total population
475
−3%since 2000
from 491 in 2000
1990 – 2025
Population density
215 / sq mi
−3%since 2000
from 222 / sq mi in 2000
US average: 280
Median age
43.5
+8%since 2000
from 40.1 in 2000
US average: 38.8
Population, 1990 – 2024
4034304584855121990201020202024Panama
2024451
1990201020202024
Section 02

Income & economy

Median household income
$45,938
−2%inflation adjusted, since 2000
from $31,250 in 2000
US average: $66,278
1990 – 2024
Per capita income
$23,551
+44%since 2000
from $16,410 in 2000
US average: $35,364
Households earning $100K+
25.3%
+9.0 ptssince 2009
from 16.3% in 2009
US average: 43.9%
Poverty rate
7.3%
−4.3 ptssince 2000
from 11.7% in 2000
US average: 12.8%
Workforce by industry, 2020
Retail trade21.1%
US avg: 10%
Wholesale trade11.6%
US avg: 6.7%
Agriculture, forestry, fishing6.3%
US avg: 1.7%
Construction6.3%
US avg: 1.2%
Finance & insurance3.2%
US avg: 5.5%
Professional, scientific, technical3.2%
US avg: 4.7%
Transportation & warehousing1.1%
US avg: 2.5%
Information1.1%
US avg: 11.1%
Other services1.1%
US avg: 6.6%
Public administration1.1%
US avg: 4.7%
Manufacturing0%
US avg: 0.5%
Education & health services0%
US avg: 0.8%
Arts, entertainment, food0%
US avg: 2%
BARS: THIS PLACE · TICKS: US AVERAGE
Section 03

Housing

Median home value
$79,500
−13%inflation adjusted, since 2000
from $60,900 in 2000
US average: $265,253
1990 – 2024
Median gross rent
$628
+5%inflation adjusted, since 2000
from $399 in 2000
US average: $1,124
Owner-occupied
66.5%
−6.3 ptssince 2000
from 72.8% in 2000
33.5% rent
Afford Score
1.7
−11%since 2000
from 1.9 in 2000
1990 – 2024
RELATED:See current rent listings in Panama on RentDataNow
Section 04

Race & ethnicity

2000
White, non-Hispanic96.5%(474)
Black1%(5)
Hispanic / Latino0.6%(3)
Asian0.2%(1)
Other0%
Diversity Score4.6%(23)
2020
White, non-Hispanic90.1%(428)
Black0.8%(4)
Hispanic / Latino3.2%(15)
Asian0.2%(1)
Other0%(0)
Diversity Score10.8%(51)
Diversity Score
11
+134%since 2000
from 5 in 2000
1990 – 2024
Section 05

Education

Bachelor's degree or higher
9.5%
−9.3 ptssince 2000
from 18.8% in 2000
US average: 32.9%
High school or higher
95.4%
+10.8 ptssince 2000
from 84.6% in 2000
US average: 88.5%
Graduate degree
6.1%
−1.2 ptssince 2000
from 7.2% in 2000
US average: 12.7%
Section 06

Commute & transportation

Average commute
22.1 min
+95%since 2000
from 11.3 min in 2000
US average: 26.9
Drive alone to work
70.4%
−14.8 ptssince 2009
from 85.2% in 2009
US average: 75.1%
No vehicle available
3.8%
−0.6 ptssince 2009
from 4.5% in 2009
US average: 8.4%
Section 07

Work & employment

Unemployment rate
2.1%
−9.1 ptssince 2011
from 11.2% in 2011
US average: 5.4%
Labor force participation
58.8%
+0.6 ptssince 2011
from 58.2% in 2011
US average: 63.4%
Management & professional
28.4%
−31.3 ptssince 2009
from 59.7% in 2009
US average: 39.3%
Section 08

People & community

Male
55.5%
+8.6 ptssince 2009
from 46.9% in 2009
Female
44.5%
−8.6 ptssince 2009
from 53.1% in 2009
Foreign born
1.5%
+1.0 ptssince 2009
from 0.5% in 2009
US average: 13.5%
Uninsured
8.1%
−84.6 ptssince 2013
from 92.7% in 2013
US average: 8.8%
Drill deeper

Places similar to Panama

Funston
Pop 427
Bowersville
Pop 427
Ephesus
Pop 497
Hickox
Pop 520
Places similar to Panama
Head to head

Compare Panama to nearby cities

PANAMA VS
Jamestown
Income$43,523−5%
Home value$87,700+10%
Population27,663+6061%
SEE FULL COMPARISON →
PANAMA VS
Warren
Income$53,815+17%
Home value$103,800+31%
Population9,046+1915%
SEE FULL COMPARISON →
PANAMA VS
Northwest Harborcreek
Income$93,617+104%
Home value$225,800+184%
Population8,753+1849%
SEE FULL COMPARISON →
PANAMA VS
Fredonia
Income$50,433+10%
Home value$192,500+142%
Population9,283+1967%
SEE FULL COMPARISON →
Frequently asked

How many people live in Panama, New York?

Panama, New York has about 475 residents according to the 2020 American Community Survey.

What is the median household income in Panama, New York?

The typical household in Panama, New York earns about $45,938 a year. Half of households make more than that, and half make less.

Is Panama, New York expensive?

In Panama, New York, the median home is worth about $79,500, and the typical rent is about $628 a month.

How educated are people in Panama, New York?

About 9.5% of adults age 25 and over in Panama, New York hold a bachelor's degree or higher.

What is the poverty rate in Panama, New York?

About 7.3% of people in Panama, New York live below the federal poverty line.

Has Panama, New York grown since 1990?

Yes, Panama, New York has grown since 1990. The population has added about 21 residents, a change of about 5 percent over that period.

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

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