Panama, IA

Iowa

Panama is a small town in Iowa with a population of 283. Residents earn $61,250 per year, which is 18% below the national average.

3.7 /5.0
B+ Good
283 Population 976/sq mi density
$61,250 Median Income $40,027 per capita
$121,600 Home Value $254,132 Zillow
$939 Median Rent 31.8% income on rent
50°F Avg Temperature 275 sunny days/yr
B+
Overall
3.7 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.2 / 5.0
$61,250 median income, 0.0% unemployment
A+
Affordability
5.0 / 5.0
$121,600 home value, $939/mo rent
C
Education
2.0 / 5.0
12.6% bachelor's degree or higher
Median Income $61,250
18% lower than US avg
Home Value $121,600
57% lower than US avg
Bachelor's+ 12.6%
63% lower than US avg
Median Rent $939
19% lower than US avg
Obesity Rate 38.6%
20% higher than US avg
Unemployment 0.0%
100% lower than US avg
Poverty Rate 1.5%
88% lower than US avg

How Panama Compares to the U.S. Average (100% = U.S. avg)

People

Population283
Median Age36.8 yrs
Density976/mi²
Male / Female38% / 63%
Largest GroupWhite 89%
Veterans5.6%

Economy

A
Median Income$61,250
Per Capita$40,027
Unemployment0.0%
Poverty1.5%
County GDP$1,051M
Commute13 min

Housing

A+
Home Value$121,600
Rent$939
OwnershipN/A
Zillow$254,132
Housing Units109
Rent Burden31.8%

Health

Obesity38.6%
Uninsured6.6%
Smoking16.8%
Depression22.7%
Heart Disease5.6%

Climate

Avg Temp50°F (10°C)
AQI43 (Good)
Rain34.3 in/yr
Sunny Days275/yr
Elevation1,309 ft (399 m)

Education

C
Bachelor's+12.6%
High School+97.3%
Graduate+3.8%
School Score5.73

Community

2024 VoteR 71% / D 28%
Commute13 min
Broadband97.0%
Libraries3

Is Panama a Good Place to Live?

Based on current data, Panama receives an overall livability score of 3.7 out of 5.0, earning a grade of B+. Key strengths include low unemployment, affordable housing, abundant sunshine, a low poverty rate. Areas to be aware of include high obesity rates. Panama offers a solid quality of life with a good balance of affordability, safety, and opportunity.

Economy & Jobs

The median household income in Panama is $61,250, 18% below the national average of $75,149. The job market is very strong with unemployment at just 0.0%. Only 1.5% of residents live below the poverty line, well below the national rate of 12.4%. Workers commute an average of 13 minutes, shorter than most U.S. cities.

Cost of Living & Housing

The median home value in Panama is $121,600, 57% below the national median — offering relatively affordable homeownership. Renters pay a median of $939 per month, below the national average — a plus for affordability. At just 2x median income, home prices are very affordable relative to local earnings.

Education

12.6% of residents hold a bachelor's degree, below the national average of 33.7%. 97.3% have completed high school. Area schools have an average test score of 5.7/10.

Climate & Weather

Panama experiences four distinct seasons with an average temperature of 50°F. Winters average 21°F in January while summers reach 75°F in July. With 275 sunny days per year, residents enjoy well above the national average of sunshine. Annual precipitation totals 34.3 inches, including 30.5 inches of snow. Air quality is rated Good with a median AQI of 43.

Panama has a population of 283 with a density of 976 people per square mile. The median age is 36.8 years, 5% younger than the national median of 38.9. The city is predominantly White (89%), with 1.4% Hispanic.

Population

283
Total Population
976
People / sq mi
36.8yrs
Median Age
5% below US avg
0.3mi²
Land Area

Gender Distribution

Male 37.5%
Female 62.5%

Race & Ethnicity

Panama vs U.S. Average

Language Spoken at Home

English Only100.0%
27% above US avg
Spanish0.0%
100% below US avg

Social Characteristics

Panama vs U.S. Average

The median household income in Panama is $61,250, which is 18% below the national average of $75,149. The unemployment rate is 0.0% (below the 3.6% US average). 1.5% of residents live below the poverty line. Workers commute an average of 13 minutes.

Income: Panama vs U.S.

Commute Mode

Income

Median HH Income$61,250
18% below US avg
Per Capita Income$40,027
Avg Weekly Wage$982
IRS Avg AGI$77,398

Employment & Poverty

Unemployment0.0%
100% below US avg
Poverty Rate1.5%
88% below US avg
Establishments (County)444
County GDP$1,051M

Business (County)

Restaurants26
Healthcare42
Retail44
Manufacturing19

Tax & Cost of Living

Property Tax (IRS)$4,339
24% above US avg
Effective Tax Rate3.57%

Commute & Transportation

Commute Time13.4 min
Drive Alone78.9%
Public Transit0.0%
Work from Home8.0%

Walkability

The median home value in Panama is $121,600, 57% below the national average. Monthly rent averages $939 (19% below US avg). Zillow estimates the typical home value at $254,132.

Home Value Sources

Ownership Split

Home Values

Census Median$121,600
57% below US avg
Zillow ZHVI$254,132

Real Estate Market (Redfin)

Rental Costs

Census Median Rent$939
19% below US avg
Rent Burden31.8%

HUD Fair Market Rent

Studio$738
1 Bedroom$788
2 Bedrooms$989
3 Bedrooms$1,282
4 Bedrooms$1,420

Ownership & Property

Owner-Occupied76.6%
Housing Units109
Median Year Built1971

Property Tax

Avg Tax (IRS)$4,339
24% above US avg
Effective Rate3.57%
In Panama, 38.6% of adults are obese (above the 32.1% national rate). 6.6% of residents lack health insurance. 16.8% are current smokers. 22.7% report depression. 24.4% are physically inactive.

Health Metrics: Panama vs U.S. Average (%)

Chronic Conditions

Obesity38.6%
20% above US avg
Diabetes9.4%
Heart Disease5.6%
High Blood Pressure30.4%
Asthma10.5%
COPD6.4%
Cancer7.5%
Stroke2.9%

Behaviors & Mental Health

Smoking16.8%
20% above US avg
Binge Drinking23.1%
Physical Inactivity24.4%
Depression22.7%
Mental Distress18.5%
Physical Distress12.5%
Short Sleep33.1%

Healthcare Access

Insurance Rate98.4%
Uninsured6.6%
23% below US avg
Checkup Rate75.3%
Dental Visits64.6%
Premature Death6,814/100K

Food & Exercise

Food Environment8.8/10
Exercise Access51.1%
Healthcare Facilities42
Panama has an average annual temperature of 50°F (10°C). Winters average 21°F in January while summers reach 75°F in July. Annual precipitation is 34.3 inches. The area enjoys 275 sunny days per year. Air quality is rated Good with a median AQI of 43.

Temperature

21°F Jan (-6°C) 75°F Jul (24°C)
Annual Average49.5°F
8% below US avg
January Average21°F (-6°C)
July Average75°F (24°C)
Sunny Days275 days/yr

Precipitation & Snow

Annual Rainfall34.3 inches
10% below US avg
Snowfall30.5 inches/yr

Air Quality

AQI Median43.0
RatingGood

Geography

Elevation1,309 ft (399 m)
Area0.3 sq mi (0.8 km²)
Population Density976/sq mi
Coordinates41.7262°N, 95.4754°W
TimezoneAmerica/Chicago
County FIPS19165
It is classified as Nonmetro — Rural, adjacent. 12.6% of residents hold a bachelor's degree or higher (63% below US avg). In the 2024 election, the county voted Republican by a 43-point margin. 97.0% of households have broadband internet.

2024 Presidential Election (County)

R 70.9%
D 27.9%

Winner: Republican by 43 points

Education

Bachelor's Degree+12.6%
63% below US avg
High School+97.3%
Graduate Degree+3.8%
School Test Score5.73
C Education Grade (2.0/5.0)

Urban-Rural Classification

RUCC Code 8Nonmetro — Rural, adjacent
Population Density976/sq mi
Total Area0.3 sq mi

Infrastructure & Services

Broadband Access97.0%
Public Libraries3
Healthcare Facilities42
Restaurants26
Retail Stores44

Safety & Disasters

Fatal Crashes (County/yr)2
FEMA Disaster Declarations91

Commute & Transportation

Avg Commute13.4 min
Drive Alone78.9%
Public Transit0.0%
Work from Home8.0%

Nearby Cities

Harlan, IA 4,896 pop · 9.3 mi Dunlap, IA 1,318 pop · 10.9 mi Woodbine, IA 1,418 pop · 12.2 mi Logan, IA 1,362 pop · 17.2 mi Avoca, IA 1,369 pop · 18.3 mi Neola, IA 1,098 pop · 20.4 mi Denison, IA 8,247 pop · 21.0 mi Walnut, IA 1,339 pop · 21.0 mi Manning, IA 1,474 pop · 24.7 mi Missouri Valley, IA 2,685 pop · 24.9 mi Audubon, IA 2,069 pop · 28.2 mi Oakland, IA 1,500 pop · 29.0 mi Atlantic, IA 6,773 pop · 32.9 mi Fort Calhoun, NE 1,246 pop · 34.0 mi
Compare Panama with another city: