Median Income
$61,250
18% lower than US avg
Home Value
$121,600
57% lower than US avg
Violent Crime
98/100K
74% 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
Ownership76.6%
Zillow$254,132
Housing Units109
Rent Burden31.8%
Crime
F
Violent98/100K
Property1,562/100K
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 Score6.35
Community
2024 VoteR 71% / D 28%
Commute13 min
Broadband97.0%
EV Stations1
Libraries3
Is Panama a Good Place to Live?
Based on current data, Panama receives an overall livability score of 3.1 out of 5.0, earning a grade of B. Key strengths include low unemployment, low crime rates, affordable housing, abundant sunshine. 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.
Safety & Crime
Panama is a very safe community with a violent crime rate of 98 per 100,000 residents / well below the national average of 380. Property crime occurs at a rate of 1,562 per 100,000, near the national average.
Education
12.6% of residents hold a bachelor's degree, below the national average of 33.7%. 97.3% have completed high school. Local schools score 6.4/10 in standardized testing, reflecting strong academic performance.
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, spread across 0.3 square miles. The median age is 36.8 years, 5% younger than the national median of 38.9. The gender split is 62.5% female and 37.5% male. The city is predominantly White (89%), with 1.4% Hispanic. English is the primary language spoken at home by 100% of residents. 5.6% of the population are veterans. 10.1% of residents have a disability (below the 13.0% national average). 98.4% have health insurance coverage.
Population
36.8yrs
Median Age
5% below US avg
Language Spoken at Home
English Only
100.0%
27% above US avg
Spanish
0.0%
100% below US avg
The median household income in Panama is $61,250, which is 18% below the national average of $75,149. Per capita income is $40,027. The average weekly wage is $982, 31% lower than the U.S. average. The unemployment rate is 0.0% (below the 3.6% US average). 1.5% of residents live below the poverty line, lower than the national rate of 12.4%. The area has 444 business establishments, including 26 restaurants. The cost of living index is 87.8, below the national baseline of 100 / offering relatively affordable living. Workers commute an average of 13 minutes (shorter than the 28-minute US average). 8.0% of workers work from home (below the 15.2% national rate).
Income
| Median HH Income | $61,250 |
| 18% below US avg |
| Per Capita Income | $40,027 |
| Avg Weekly Wage | $982 |
| IRS Avg AGI | $77,398 |
| Gini Index | 0.450 (0=equal, 1=unequal) |
Employment & Poverty
| Unemployment | 0.0% |
| 100% below US avg |
| Poverty Rate | 1.5% |
| 88% below US avg |
| Establishments (County) | 444 |
| County GDP | $1,051M |
Business (County)
| Restaurants | 26 |
| Healthcare | 42 |
| Retail | 44 |
| Manufacturing | 19 |
Tax & Cost of Living
| Property Tax (IRS) | $4,339 |
| 24% above US avg |
| Cost of Living | 87.80 (100=avg) |
| Effective Tax Rate | 3.57% |
Commute & Transportation
| Commute Time | 13.4 min |
| Drive Alone | 78.9% |
| Public Transit | 0.0% |
| Work from Home | 8.0% |
The median home value in Panama is $121,600, 57% below the national median of $281,900. Zillow estimates the typical home value at $254,132, higher than the Census estimate. Monthly rent averages $939 (19% below the national average of $1,163). Fair market rent ranges from $788 for a one-bedroom to $989 for a two-bedroom apartment. 76.6% of housing units are owner-occupied (above the 65.4% national rate). There are 109 total housing units in the city. The median year a home was built is 1971. The average annual property tax is $4,339 (higher than the $3,500 national average). 31.8% of renters spend 30% or more of their income on housing. The home price-to-income ratio is 2x, well within the affordable range.
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 Burden | 31.8% |
HUD Fair Market Rent
| Studio | $738 |
| 1 Bedroom | $788 |
| 2 Bedrooms | $989 |
| 3 Bedrooms | $1,282 |
| 4 Bedrooms | $1,420 |
Ownership & Property
| Homeownership | 76.6% |
| Owner-Occupied | 76.6% |
| Renter-Occupied | 23.4% |
| Housing Units | 109 |
| Median Year Built | 1971 |
Property Tax
| Avg Tax (IRS) | $4,339 |
| 24% above US avg |
| Effective Rate | 3.57% |
In Panama, 38.6% of adults are obese, above the national rate of 32.1%. 9.4% have diabetes. Heart disease affects 5.6% of residents. 30.4% have high blood pressure. 16.8% are current smokers. 23.1% report binge drinking. 24.4% are physically inactive. 22.7% report depression. 18.5% experience frequent mental distress. 6.6% of residents lack health insurance (below the 8.6% national rate). The primary care physician ratio is 1:1,962. The dentist ratio is 1:1,664. 51.1% of residents have access to exercise opportunities. The food environment index is 8.8 out of 10.
Health Metrics: Panama vs U.S. Average (%)
Chronic Conditions
| Obesity | 38.6% |
| 20% above US avg |
| Diabetes | 9.4% |
| Heart Disease | 5.6% |
| High Blood Pressure | 30.4% |
| Asthma | 10.5% |
| COPD | 6.4% |
| Cancer | 7.5% |
| Stroke | 2.9% |
Behaviors & Mental Health
| Smoking | 16.8% |
| 20% above US avg |
| Binge Drinking | 23.1% |
| Physical Inactivity | 24.4% |
| Depression | 22.7% |
| Mental Distress | 18.5% |
| Physical Distress | 12.5% |
| Short Sleep | 33.1% |
Healthcare Access
| Insurance Rate | 98.4% |
| Uninsured | 6.6% |
| 23% below US avg |
| Primary Care | 1:1,962 |
| Dentists | 1:1,664 |
| Mental Health | 1:656 |
| Checkup Rate | 75.3% |
| Dental Visits | 64.6% |
| Premature Death | 6,814/100K |
Food & Exercise
| Food Environment | 8.8/10 |
| Exercise Access | 51.1% |
| Healthcare Facilities | 42 |
Panama has a violent crime rate of 98 per 100,000 residents, 74% below the national average of 380. Property crime stands at 1,562 per 100,000, 20% below the U.S. average. The county recorded 2 fatal traffic crashes. The area has experienced 91 federally declared disasters. Overall, Panama receives a safety grade of F.
Crime Rates: Panama vs U.S. Average (per 100,000)
Violent Crime
| Total Violent | 97.6/100K |
| 74% below US avg |
| |
Property Crime
| Total Property | 1,561.7/100K |
| 20% below US avg |
Traffic Safety
| Fatal Crashes (County/yr) | 2 |
| Avg Accident Severity | 0.0 / 4.0 |
| FEMA Disasters | 91 |
Safety Score
| Safety Grade | F |
| Safety Score | 1.0 / 5.0 |
Panama experiences four distinct seasons with an average annual temperature of 50°F (10°C). Winters average 21°F in January while summers reach 75°F in July. The area gets 275 sunny days per year, well above the U.S. average of 205 / making it one of the sunnier locations in the country. Annual precipitation totals 34.3 inches. The area receives 30.5 inches of snow annually, a moderate snowfall amount. Air quality is rated Good with a median AQI of 43. The city sits at an elevation of 1,309 feet.
Temperature
21°F Jan (-6°C)
75°F Jul (24°C)
| Annual Average | 49.5°F |
| 8% below US avg |
| January Average | 21°F (-6°C) |
| July Average | 75°F (24°C) |
| Sunny Days | 275 days/yr |
Geography
| Elevation | 1,309 ft (399 m) |
| Area | 0.3 sq mi (0.8 km²) |
| Population Density | 976/sq mi |
| Coordinates | 41.7262°N, 95.4754°W |
| Timezone | America/Chicago |
| County | Shelby County County |
| Nearest Airport | Eppley Airfield (OMA)
36 miles away |
Precipitation & Snow
Annual Rainfall
34.3"
10% below US avg
Wettest Month (Jun)
4.45"
Air Quality
| AQI Median | 43.0 |
| Rating | Good |
Natural Hazard Risk
| Overall Risk | Very Low |
| Risk Score | 22.8 / 100 |
| Social Vulnerability | 10.6 / 100 |
| Community Resilience | 87.4 / 100 |
Hazard Breakdown
| Tornado |
Relatively Low |
| Hurricane |
No Rating |
| Earthquake |
Very Low |
| Wildfire |
Very Low |
| Flood |
Very Low |
| Hail |
Relatively Moderate |
| Strong Wind |
Relatively Low |
| Heat Wave |
Very Low |
| Winter Weather |
Relatively Low |
| Lightning |
Very Low |
| Ice Storm |
Relatively Low |
| Drought |
Relatively Moderate |
| Cold Wave |
Relatively Low |
| Landslide |
Relatively Low |
Source: FEMA National Risk Index v1.20 (Dec 2025)
Earthquake History
4 earthquakes (M2.5+) within 150 km since 1990.
Strongest: M3.5. Most recent: M2.7 on Jun 30, 2021.
| Jul 16, 2004 |
6 km SSE of Riverton, Iowa |
M3.5 |
122 km |
| Aug 9, 1997 |
9 km NW of Clarkson, Nebraska |
M3.4 |
142 km |
| Feb 11, 1995 |
6 km E of Clearmont, Missouri |
M3.1 |
143 km |
| Jun 30, 2021 |
4 km E of Rembrandt, Iowa |
M2.7 |
126 km |
Source: USGS (M2.5+, 1990–2025)
Tornado History
562 tornadoes (EF0+) within 100 km since 1950.
Strongest: EF5. Total: 17 fatalities, 465 injuries.
| Date |
Rating |
Distance |
Fatalities |
| Jun 27, 1953 |
EF5 |
71 km |
1 |
| Apr 26, 2024 |
EF4 |
92 km |
0 |
| Oct 4, 2013 |
EF4 |
85 km |
0 |
| May 27, 1995 |
EF4 |
69 km |
0 |
| May 27, 1995 |
EF4 |
61 km |
0 |
| Jun 26, 1976 |
EF4 |
32 km |
0 |
| May 6, 1975 |
EF4 |
79 km |
3 |
| May 10, 1959 |
EF4 |
75 km |
0 |
| Jun 9, 1954 |
EF4 |
88 km |
1 |
| Jul 15, 1950 |
EF4 |
94 km |
0 |
| May 21, 2024 |
EF3 |
99 km |
0 |
| Apr 26, 2024 |
EF3 |
47 km |
1 |
| Apr 26, 2024 |
EF3 |
63 km |
0 |
| Apr 26, 2024 |
EF3 |
64 km |
0 |
| Jul 14, 2021 |
EF3 |
83 km |
0 |
| Apr 9, 2011 |
EF3 |
56 km |
0 |
| Apr 9, 2011 |
EF3 |
93 km |
0 |
| Apr 9, 2011 |
EF3 |
72 km |
0 |
| Jun 11, 2008 |
EF3 |
54 km |
4 |
| May 16, 1999 |
EF3 |
37 km |
0 |
Source: NOAA SPC (EF0+, 1950–2024)
Wildfire History
2 wildfires (100+ acres) within 100 km.
Largest: UNNAMED (4,195 ac, 2005).
| Year |
Name |
Acres |
Distance |
| 2005 |
UNNAMED |
4,195 |
53 km |
| 2010 |
UNNAMED |
629 |
48 km |
Source: NIFC/IRWIN (100+ acres)
Monthly Weather
| Month |
Avg Temperature |
Precipitation |
Summary |
| January |
21°F (-6°C) |
0.7 in |
Coldest, Driest |
| February |
25°F (-4°C) |
0.8 in |
|
| March |
37°F (3°C) |
2.1 in |
|
| April |
50°F (10°C) |
3.0 in |
|
| May |
61°F (16°C) |
4.3 in |
|
| June |
71°F (21°C) |
4.5 in |
Wettest |
| July |
75°F (24°C) |
3.7 in |
Warmest |
| August |
72°F (22°C) |
3.7 in |
|
| September |
64°F (18°C) |
4.0 in |
|
| October |
52°F (11°C) |
2.6 in |
|
| November |
36°F (2°C) |
1.5 in |
|
| December |
24°F (-5°C) |
1.0 in |
|
Panama has a seasonal temperature swing of 54°F / from 21°F in January to 75°F in July. Total annual precipitation is 31.9 inches, with June being the wettest month (4.5") and January the driest (0.7").
Average costs for common services in Panama. Prices are estimated based on regional cost of living data and may vary by provider.
Healthcare
| Doctor Visit (Primary Care) |
$220 ($132–$351) |
| Specialist Visit |
$307 ($176–$483) |
| Urgent Care Visit |
$176 ($88–$307) |
| Emergency Room Visit |
$1,932 ($702–$4,390) |
| Dental Cleaning |
$114 ($66–$176) |
| Dental Filling |
$220 ($132–$351) |
View all 40 services
Auto Repair
| Oil Change (Conventional) |
$40 ($22–$66) |
| Oil Change (Synthetic) |
$66 ($44–$105) |
| Brake Pad Replacement |
$263 ($132–$439) |
| Tire Rotation |
$35 ($18–$66) |
| New Tires (Set of 4) |
$527 ($351–$878) |
| Battery Replacement |
$176 ($88–$307) |
View all 18 services
Home Services
| Plumber (Per Hour) |
$88 ($53–$132) |
| Electrician (Per Hour) |
$79 ($44–$123) |
| HVAC Repair |
$351 ($132–$702) |
| HVAC System Install |
$6,146 ($3,512–$10,536) |
| Roof Repair |
$878 ($351–$1,756) |
| Roof Replacement |
$7,902 ($4,829–$13,170) |
View all 25 services
Legal
| Divorce (Uncontested) |
$1,317 ($439–$3,073) |
| Divorce (Contested) |
$13,170 ($4,390–$26,340) |
| DUI Defense |
$4,390 ($1,756–$8,780) |
| Bankruptcy (Chapter 7) |
$1,317 ($702–$2,634) |
| Will Preparation |
$439 ($176–$878) |
| Trust Preparation |
$2,195 ($878–$4,390) |
View all 12 services
Personal Care
| Men's Haircut |
$22 ($13–$40) |
| Women's Haircut |
$48 ($26–$88) |
| Hair Coloring (Full) |
$132 ($66–$220) |
| Manicure |
$22 ($13–$40) |
| Pedicure |
$35 ($22–$57) |
| Massage (1 Hour) |
$70 ($44–$114) |
View all 12 services
Food & Grocery
| Gallon of Milk (per gallon) |
$3.60 ($2.63–$4.83) |
| Dozen Eggs (per dozen) |
$3.07 ($2.20–$4.39) |
| Loaf of Bread |
$3.34 ($2.20–$4.83) |
| Chicken Breast (per lb) |
$3.95 ($2.63–$5.71) |
| Ground Beef (per lb) |
$4.83 ($3.51–$6.59) |
| Rice (per lb) |
$0.88 ($0.53–$1.58) |
View all 20 services
Utilities
| Electricity (Monthly) |
$123 ($70–$220) |
| Natural Gas (Monthly) |
$61 ($26–$132) |
| Water/Sewer (Monthly) |
$61 ($35–$105) |
| Internet (Monthly) |
$61 ($35–$88) |
| Cell Phone Plan (Monthly) |
$57 ($26–$88) |
| Cable TV (Monthly) |
$75 ($44–$132) |
View all 8 services
Transportation
| Monthly Parking (Downtown) |
$176 ($66–$439) |
| Car Insurance (Annual) |
$1,756 ($1,054–$3,073) |
| Bus Pass (Monthly) |
$61 ($26–$114) |
| Taxi/Uber (5-Mile Ride) |
$13 ($7.02–$22) |
| Car Registration (Annual) |
$88 ($26–$220) |
| Driver's License Renewal |
$26 ($13–$66) |
View all 8 services
Education & Childcare
| Daycare (Infant, Monthly) |
$1,054 ($527–$2,195) |
| Daycare (Toddler, Monthly) |
$878 ($439–$1,756) |
| After-School Care (Monthly) |
$351 ($176–$615) |
| Tutoring (Per Hour) |
$44 ($22–$88) |
| SAT/ACT Prep Course |
$878 ($351–$2,195) |
| Private School (K-12, Annual) |
$10,975 ($4,390–$26,340) |
View all 8 services
Pets
| Vet Visit (Routine Checkup) |
$53 ($26–$88) |
| Dog Vaccination (Annual) |
$88 ($44–$176) |
| Dog Grooming |
$53 ($26–$88) |
| Pet Boarding (Per Night) |
$35 ($18–$66) |
| Dog Spay/Neuter |
$263 ($132–$439) |
| Cat Spay/Neuter |
$176 ($88–$351) |
View all 9 services
Childcare
| Center-Based (monthly) |
| Infant | $710 |
| Toddler | $612 |
| Preschool | $612 |
| Family Childcare (monthly) |
| Infant | $479 |
| Toddler | $471 |
| Preschool | $471 |
Source: DOL Women's Bureau (2022)
Frequently Asked Questions About Panama
What is the population of Panama?
Panama has a population of 283 residents and is located in Iowa. The population density is 976 people per square mile, spread across 0.3 square miles. The median age of residents is 36.8 years. The population is 62.5% female and 37.5% male.
Is Panama expensive to live in?
Panama is more affordable than the national average, with a cost of living index of 87.8 / below the baseline of 100. The median household income is $61,250, 18% below the national average of $75,149. The median home value is $121,600 (57% below the U.S. median). Renters pay a median of $939 per month, below the national average of $1,163. The home price-to-income ratio is 2x, indicating housing is reasonably affordable relative to local income levels.
Is Panama safe?
Panama is considered a very safe city with a violent crime rate of 98 per 100,000 residents, well below the national average of 380. Property crime occurs at a rate of 1,562 per 100,000 (below the national average). Overall, Panama receives a safety grade of F based on combined crime data.
What is the weather like in Panama?
Panama has a four-season climate with an average annual temperature of 50°F (10°C). Winter temperatures average 21°F in January, while summers reach an average of 75°F in July. The area receives 275 sunny days per year, well above the national average of 205. Annual rainfall totals 34.3 inches, with 30.5 inches of snow. Air quality is rated Good with a median Air Quality Index (AQI) of 43.
How is the job market in Panama?
The job market in Panama is very strong, with unemployment at just 0.0% / well below the national rate of 3.6%. The average weekly wage is $982. There are 444 business establishments in the area, including 26 restaurants and food service locations. The average commute time is 13 minutes, and 8.0% of workers work from home.
How much does housing cost in Panama?
The median home value in Panama is $121,600. Zillow estimates the typical home value at $254,132. For renters, the median monthly rent is $939. Fair market rent is $788 for a 1-bedroom and $989 for a 2-bedroom apartment. The homeownership rate is 76.6%. The average annual property tax is $4,339.
How are the schools in Panama?
Schools in Panama score 6.4 out of 10 on standardized testing, near the national average. 12.6% of adults in Panama hold a bachelor's degree or higher, below the national average of 33.7%. 97.3% have completed high school. 3.8% hold a graduate or professional degree.
How healthy is Panama?
The obesity rate in Panama is 38.6% (above the national rate of 32.1%). 16.8% of adults are smokers. 24.4% are physically inactive. 22.7% of residents report depression. 6.6% lack health insurance (below the national rate). 51.1% of residents have access to exercise opportunities. The primary care physician ratio is 1:1,962.
What is transportation like in Panama?
The average commute in Panama is 13 minutes, shorter than the national average of 28 minutes. 78.9% of workers drive alone to work, and 8.0% work from home.
What are the demographics of Panama?
The racial and ethnic makeup of Panama is 89% White, 1.4% Hispanic or Latino. 100% of residents speak only English at home. 5.6% of the population are military veterans. 10.1% of residents have a disability. 98.4% have health insurance coverage.
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