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Panama, IA
Full City Profile · Iowa · Shelby County County
Panama, IA
At a Glance
How Panama Compares to the U.S. Average
Each bar shows Panama's value as a percentage of the national average (100% = U.S. avg)
Is Panama a Good Place to Live?
Economy & Jobs
Panama residents earn a median household income of $61,250 , which is 18% below the national average of $75,149. Per capita income is $40,027. The unemployment rate stands at 0.0% (100% below the U.S. rate of 3.6%). 1.5% of residents live below the poverty line. The area is home to 444 business establishments, including 26 restaurants.
Housing & Cost of Living
The median home value in Panama is $121,600 , 57% below the national median of $281,900. Zillow estimates the typical home at $254,132. Median rent is $939/month, with 31.8% of renters spending more than 30% of income on housing. The cost of living index is 87.8 (100 = national average). The median home was built in 1971.
Safety & Crime
Panama reports 98 violent crimes per 100,000 residents , which is 74% below the national average of 380/100K. Property crime is 1,562/100K.
Education
12.6% of adults in Panama hold a bachelor's degree or higher (63% below the national average). 97.3% have completed high school. Local schools score 6.4/10 in standardized testing.
Climate & Weather
Panama has 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. Annual precipitation totals 34.3 inches. Air quality is rated Good with a median AQI of 43.