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Panama, IL
Full City Profile · Illinois · Montgomery County County
Panama, IL
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 $60,096 , which is 20% below the national average of $75,149. Per capita income is $27,332. The unemployment rate stands at 6.8% (89% above the U.S. rate of 3.6%). 4.1% of residents live below the poverty line. The area is home to 697 business establishments, including 77 restaurants.
Housing & Cost of Living
The median home value in Panama is $60,800 , 78% below the national median of $281,900. Zillow estimates the typical home at $134,830. Median rent is $833/month, with 24.3% of renters spending more than 30% of income on housing. The cost of living index is 100.0 (100 = national average). The median home was built in 1957.
Safety & Crime
Panama reports 294 violent crimes per 100,000 residents , which is 23% below the national average of 380/100K. Property crime is 1,111/100K.
Education
7.5% of adults in Panama hold a bachelor's degree or higher (78% below the national average). 82.2% have completed high school. Local schools score 5.3/10 in standardized testing.
Climate & Weather
Panama has an average annual temperature of 53°F (12°C). Winters average 28°F in January while summers reach 76°F in July. The area gets 293 sunny days per year. Annual precipitation totals 40.0 inches. Air quality is rated Good with a median AQI of 43.