Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 48.5 yrs |
|---|---|
| Avg HH Size | 2.19 |
| Below Poverty | 9.5% ≈ Avg |
| College Grads | 22.3% ▼ 42% below avg |
| Unemployment | 12.5% ▲ 155% above avg |
| HS Graduate | 127 (59.1%) |
| Some College | 19 (8.8%) |
| Associates | 21 (9.8%) |
| Bachelors | 29 (13.5%) |
| Graduate Degree | 19 (8.8%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $60,096 ▼ 21% below avg |
|---|---|
| Median Home Value | $60,800 ▼ 78% below avg |
| Home/Income Ratio | 1.0x (nat avg ~3.5x) |
| Median Rent | $833/mo |
| Total Housing Units | 164 |
| Vacant Units | 15 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Panama is a city in Illinois, located in Montgomery County. The city spans 1 ZIP code and is home to approximately 327 residents. It is a mature city, with a median age of 48.5 years.
Economically, Panama is a solidly middle-class community. The median household income of $60,096 is below the national average. Approximately 9.5% of residents live below the poverty line. The unemployment rate is 12.5%, more than double the national average.
The real estate market in Panama is one of the more affordable housing markets in the country. Median home values stand at $60,800, which is well below the national average. Renters typically pay around $833 per month. Homeownership is high at 85.9%, typical of suburban and family-oriented communities.
The population of Panama is less-educated. 22.3% of adults hold a bachelor's degree or higher — below the national average. The community is primarily White (99.08%).
Panama, IL offers residents a cost-conscious lifestyle within Illinois.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 62077 | 327 | $60,096 | $60,800 | $833 | 12.5% | 22.3% | 85.9% |