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Panama, IL
Full City Profile · Illinois · Montgomery County County
2.8
/5.0
C+
Fair
327
Population
884/sq mi density
$60,096
Median Income
$27,332 per capita
$60,800
Home Value
$134,830 Zillow
$833
Median Rent
24.3% income on rent
53°F
Avg Temperature
293 sunny days/yr
294
Violent Crime/100K
1,111 property/100K
C+
Overall
2.8 / 5.0
Fair overall score based on economy, affordability, safety and education
B+
Economy
3.5 / 5.0
$60,096 median income, 6.8% unemployment
A+
Affordability
5.0 / 5.0
$60,800 home value, $833/mo rent
F
Safety
1.0 / 5.0
294 violent crimes/100K
D
Education
1.6 / 5.0
7.5% bachelor's degree or higher
Housing Overview
Median Home Value
$60,800
78% below
US avg: $281,900
Median Rent
$833/mo
28% below
US avg: $1,163/mo
Homeownership Rate
85.9%
31% above US avg (65.4%)
Total Housing Units
150
Median year built: 1957
Home Value by Source
Census Median
$60,800
Zillow (ZHVI)
$134,830
Census ACS, Zillow ZHVI, Redfin median sale price
Ownership vs. Renting
85.9%
Owner-Occupied
14.1%
Renter-Occupied
US avg: 65.4% owner-occupied
Fair Market Rents (HUD FY2026)
Studio
$774/mo
1 Bedroom
$854/mo
2 Bedroom
$1,063/mo
3 Bedroom
$1,370/mo
4 Bedroom
$1,561/mo
Census median rent:
$833/mo
Affordability & Housing Stock
Rent Burden
24.3%
of renters spending 30%+ of income on housing
22% below US avg (31.0%)
Median Year Built
1957
Average age of housing stock: 69 years
Homeownership Rate
85.9%
Complete Housing Data
Home Values
| Census Median Value | $60,800 |
| Zillow Home Value (ZHVI) | $134,830 |
Rent
| Census Median Rent | $833 |
| FMR Studio | $774 |
| FMR 1-Bedroom | $854 |
| FMR 2-Bedroom | $1,063 |
| FMR 3-Bedroom | $1,370 |
| FMR 4-Bedroom | $1,561 |
Market
Ownership & Stock
| Owner-Occupied | 85.9% |
| Renter-Occupied | 14.1% |
| Homeownership Rate | 85.9% |
| Total Housing Units | 150 |
| Median Year Built | 1957 |
| Rent Burden | 24.3% |