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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
Change Over Time (2013–2023)
Population Change
-4.2%
335 → 321
over 10 years
Annual Pop. Growth
-0.43%
Compound annual growth rate
Median Income Change
+113.7%
$28,125 → $60,096
nominal, not inflation-adjusted
Annual Income Growth
+7.89%
Compound annual growth rate
Population Over Time
Total population for Panama across each available Census ACS release.
Median Household Income Over Time
Median household income reported by U.S. Census ACS. Values are nominal (not adjusted for inflation).
Projected 2030
Simple projections extrapolating the 2013–2023 compound annual growth rate forward. These are mathematical extensions of recent trends, not forecasts — real outcomes depend on migration, policy and economic shifts.
Projected Population 2030
311
-10 from 2023 (321)
Projected Median Income 2030
$102,262
+$42,166 from 2023 ($60,096)
Year-by-Year Detail
| Year | Population | YoY % | Median Income | YoY % |
|---|---|---|---|---|
| 2013 | 335 | — | $28,125 | — |
| 2015 | 325 | -3% | $40,000 | +42.2% |
| 2017 | 321 | -1.2% | $42,500 | +6.3% |
| 2019 | 315 | -1.9% | $55,089 | +29.6% |
| 2021 | 338 | +7.3% | $56,875 | +3.2% |
| 2023 | 321 | -5% | $60,096 | +5.7% |
Source: U.S. Census ACS 5-Year Estimates (Data Commons). Home value and rent are not yet available historically.