Panama

Population: 327
Median household income: $60,096
Median home value: $60,800

Located in Montgomery County, Illinois, Panama is a community with a population of 327. The median household income of $60,096 is in line with the Montgomery County median ($61,863).

From 2019 to 2023, Panama's population grew 10.5% from 296 to 327, while its median home value rose 2.5% from $59,300 to $60,800.

The median resident is 48.5 years old. The largest age group is 55 to 64, 24.5% of residents.

Demographics

ACS 2019–2023

Population: 327
Median age: 48.5 yrs
Median household income: $60,096
Median home value: $60,800
Median gross rent: $833
Housing units: 164
Homeownership rate: 85.9%
Bachelor's degree or higher: 7.5%
Unemployment rate: 12.5%

Trends

ACS 5-year · 2019–2023

Population

296327

Median household income

$55,089$60,096

Median home value

$59,300$60,800

Median gross rent

$863$833

Year	Population	Median household income	Median home value	Median gross rent
2019	296	$55,089	$59,300	$863
2020	221	$55,114	$62,900	$667
2021	246	$56,875	$58,100	$742
2022	317	$59,643	$68,600	$1,067
2023	327	$60,096	$60,800	$833

Each year is a US Census Bureau ACS 5-year estimate ending that year.

Age distribution

Under 55.8%

5 to 1714.4%

18 to 242.4%

25 to 3416.5%

35 to 446.1%

45 to 5411.9%

55 to 6424.5%

65 to 7411.6%

75 and over6.7%

	Count	Share
Under 5	19	5.8%
5 to 17	47	14.4%
18 to 24	8	2.4%
25 to 34	54	16.5%
35 to 44	20	6.1%
45 to 54	39	11.9%
55 to 64	80	24.5%
65 to 74	38	11.6%
75 and over	22	6.7%

Race & ethnicity

	Count	Share
White (non-Hispanic)	324	99.1%
Black or African American	0	0.0%
American Indian & Alaska Native	0	0.0%
Asian	0	0.0%
Native Hawaiian & Pacific Islander	0	0.0%
Some other race	0	0.0%
Two or more races	2	0.6%
Hispanic or Latino (any race)	1	0.3%

Educational attainment (age 25+)

No high school diploma17.8%

High school graduate50.6%

Some college or associate's24.1%

Bachelor's degree5.9%

Graduate or professional degree1.6%

	Count	Share
No high school diploma	45	17.8%
High school graduate	128	50.6%
Some college or associate's	61	24.1%
Bachelor's degree	15	5.9%
Graduate or professional degree	4	1.6%

Commute to work

Mean travel time to work: 35 min

Drove alone73.4%

Carpooled23.4%

Public transit0.0%

Walked0.8%

Bicycle0.0%

Worked from home2.4%

Other means0.0%

How workers get to work

	Count	Share
Drove alone	91	73.4%
Carpooled	29	23.4%
Public transit	0	0.0%
Walked	1	0.8%
Bicycle	0	0.0%
Worked from home	3	2.4%
Other means	0	0.0%

Travel time

	Count	Share
Under 15 min	5	4.1%
15 to 29 min	53	43.8%
30 to 44 min	32	26.4%
45 to 59 min	16	13.2%
60+ min	15	12.4%

Households

Average household size: 2.19
Poverty rate: 9.5% (31 of 327)

	Count	Share
Family households	98	65.8%
Nonfamily households	51	34.2%

Housing

Median year structure built: 1946

Occupancy

	Count	Share
Occupied	149	90.9%
Vacant	15	9.1%

Tenure (of occupied units)

	Count	Share
Owner-occupied	128	85.9%
Renter-occupied	21	14.1%

1-unit, detached84.1%

1-unit, attached0.0%

2 to 4 units0.0%

5 to 19 units0.0%

20 or more units0.0%

Mobile home & other15.9%

Units in structure

	Count	Share
1-unit, detached	138	84.1%
1-unit, attached	0	0.0%
2 to 4 units	0	0.0%
5 to 19 units	0	0.0%
20 or more units	0	0.0%
Mobile home & other	26	15.9%

Geography

Place GEOID: 1757498
Type (LSAD): 47
Land area: 0.36 sq mi
Water area: 0 sq mi
Center point: 39.0293, -89.5244