Median Income
$89,583
19% higher than US avg
Home Value
$196,000
30% lower than US avg
Violent Crime
338/100K
11% lower than US avg
Bachelor's+
15.0%
55% lower than US avg
Median Rent
$1,250
7% higher than US avg
Obesity Rate
32.7%
2% higher than US avg
Unemployment
3.4%
6% lower than US avg
Poverty Rate
4.4%
65% lower than US avg
How Panama Compares to the U.S. Average (100% = U.S. avg)
People
Population223
Median Age51.8 yrs
Density796/mi²
Male / Female44% / 57%
Largest GroupWhite 88%
Veterans6.3%
Economy
A+
Median Income$89,583
Per Capita$49,787
Unemployment3.4%
Poverty4.4%
County GDP$28,815M
Commute33 min
Housing
A+
Home Value$196,000
Rent$1,250
Ownership88.5%
Zillow$268,602
Housing Units109
Rent Burden26.3%
Crime
F
Violent338/100K
Property3,349/100K
Health
Obesity32.7%
Uninsured5.9%
Smoking10.2%
Depression21.4%
Heart Disease4.4%
Climate
Avg Temp51°F (11°C)
AQI32 (Good)
Rain32.3 in/yr
Sunny Days275/yr
Elevation1,405 ft (428 m)
Education
C
Bachelor's+15.0%
High School+92.5%
Graduate+5.8%
School Score6.52
Community
2024 VoteR 47% / D 51%
Commute33 min
Broadband96.0%
EV Stations51
Libraries9
Is Panama a Good Place to Live?
Based on current data, Panama receives an overall livability score of 3.2 out of 5.0, earning a grade of B. Key strengths include above-average household incomes, low unemployment, affordable housing, abundant sunshine. 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 $89,583, 19% above the national average of $75,149. Residents generally enjoy above-average earning potential. Unemployment stands at 3.4%, indicating a healthy job market. Only 4.4% of residents live below the poverty line, well below the national rate of 12.4%. Workers commute an average of 33 minutes.
Cost of Living & Housing
The median home value in Panama is $196,000, 30% below the national median / offering relatively affordable homeownership. Renters pay a median of $1,250 per month. At just 2.2x median income, home prices are very affordable relative to local earnings.
Safety & Crime
Violent crime in Panama is below the national average at 338 per 100,000 residents (U.S. avg: 380). Property crime occurs at a rate of 3,349 per 100,000, 71% above the national average.
Education
15.0% of residents hold a bachelor's degree, below the national average of 33.7%. 92.5% have completed high school. Local schools score 6.5/10 in standardized testing, reflecting strong academic performance.
Climate & Weather
Panama experiences four distinct seasons with an average temperature of 51°F. Winters average 24°F in January while summers reach 76°F in July. With 275 sunny days per year, residents enjoy well above the national average of sunshine. Annual precipitation totals 32.3 inches. Air quality is rated Good with a median AQI of 32.
Panama has a population of 223 with a density of 796 people per square mile, spread across 0.3 square miles. The median age is 51.8 years, 33% older than the national median of 38.9. The gender split is 56.5% female and 43.5% male. The city is predominantly White (87.9%), with 11.2% Hispanic. English is the primary language spoken at home by 99.1% of residents. 6.3% of the population are veterans. 17.4% of residents have a disability (above the 13.0% national average). 98.4% have health insurance coverage.
Population
51.8yrs
Median Age
33% above US avg
Language Spoken at Home
English Only
99.1%
26% above US avg
Spanish
0.9%
93% below US avg
The median household income in Panama is $89,583, which is 19% above the national average of $75,149. Per capita income is $49,787 (above the $39,052 national figure). The average weekly wage is $1,141, 20% lower than the U.S. average. The unemployment rate is 3.4% (below the 3.6% US average). 4.4% of residents live below the poverty line, lower than the national rate of 12.4%. The area has 9,853 business establishments, including 794 restaurants. The cost of living index is 90.1, below the national baseline of 100 / offering relatively affordable living. Workers commute an average of 33 minutes (longer than the 28-minute US average). 13.6% of workers work from home.
Income
| Median HH Income | $89,583 |
| 19% above US avg |
| Per Capita Income | $49,787 |
| Avg Weekly Wage | $1,141 |
| IRS Avg AGI | $85,036 |
| Gini Index | 0.451 (0=equal, 1=unequal) |
Employment & Poverty
| Unemployment | 3.4% |
| 6% below US avg |
| Poverty Rate | 4.4% |
| 65% below US avg |
| Establishments (County) | 9,853 |
| County GDP | $28,815M |
Business (County)
| Restaurants | 794 |
| Healthcare | 1,148 |
| Retail | 989 |
| Manufacturing | 246 |
Tax & Cost of Living
| Property Tax (IRS) | $6,896 |
| 97% above US avg |
| Cost of Living | 90.10 (100=avg) |
| Effective Tax Rate | 3.52% |
Commute & Transportation
| Commute Time | 33.4 min |
| Drive Alone | 75.0% |
| Public Transit | 0.0% |
| Work from Home | 13.6% |
The median home value in Panama is $196,000, 30% below the national median of $281,900. Zillow estimates the typical home value at $268,602, higher than the Census estimate. Monthly rent averages $1,250 (7% above the national average of $1,163). Fair market rent ranges from $791 for a one-bedroom to $1,001 for a two-bedroom apartment. 88.5% 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 1963. The average annual property tax is $6,896 (higher than the $3,500 national average). 26.3% of renters spend 30% or more of their income on housing. The home price-to-income ratio is 2.2x, well within the affordable range.
Home Values
| Census Median | $196,000 |
| 30% below US avg |
| Zillow ZHVI | $268,602 |
Real Estate Market (Redfin)
Rental Costs
| Census Median Rent | $1,250 |
| 7% above US avg |
| Rent Burden | 26.3% |
HUD Fair Market Rent
| Studio | $706 |
| 1 Bedroom | $791 |
| 2 Bedrooms | $1,001 |
| 3 Bedrooms | $1,274 |
| 4 Bedrooms | $1,409 |
Ownership & Property
| Homeownership | 88.5% |
| Owner-Occupied | 88.5% |
| Renter-Occupied | 11.5% |
| Housing Units | 109 |
| Median Year Built | 1963 |
Property Tax
| Avg Tax (IRS) | $6,896 |
| 97% above US avg |
| Effective Rate | 3.52% |
In Panama, 32.7% of adults are obese, above the national rate of 32.1%. 7.4% have diabetes (below the 10.5% national rate). Heart disease affects 4.4% of residents, below the national average. 26.6% have high blood pressure. 10.2% are current smokers (below the 14.0% national rate). 22.8% report binge drinking. 15.9% are physically inactive, below the national average. 21.4% report depression. 14.0% experience frequent mental distress. 5.9% of residents lack health insurance (below the 8.6% national rate). The primary care physician ratio is 1:1,442. The dentist ratio is 1:936. 95.4% of residents have access to exercise opportunities. The food environment index is 8.1 out of 10.
Health Metrics: Panama vs U.S. Average (%)
Chronic Conditions
| Obesity | 32.7% |
| 2% above US avg |
| Diabetes | 7.4% |
| Heart Disease | 4.4% |
| High Blood Pressure | 26.6% |
| Asthma | 9.3% |
| COPD | 4.2% |
| Cancer | 7.7% |
| Stroke | 2.2% |
Behaviors & Mental Health
| Smoking | 10.2% |
| 27% below US avg |
| Binge Drinking | 22.8% |
| Physical Inactivity | 15.9% |
| Depression | 21.4% |
| Mental Distress | 14.0% |
| Physical Distress | 8.9% |
| Short Sleep | 28.2% |
Healthcare Access
| Insurance Rate | 98.4% |
| Uninsured | 5.9% |
| 31% below US avg |
| Primary Care | 1:1,442 |
| Dentists | 1:936 |
| Mental Health | 1:223 |
| Checkup Rate | 75.6% |
| Dental Visits | 74.7% |
| Premature Death | 6,252/100K |
Food & Exercise
| Food Environment | 8.1/10 |
| Exercise Access | 95.4% |
| Healthcare Facilities | 1,148 |
Panama has a violent crime rate of 338 per 100,000 residents, 11% below the national average of 380. Property crime stands at 3,349 per 100,000, 71% above the U.S. average. The county recorded 26 fatal traffic crashes. Overall, Panama receives a safety grade of F.
Crime Rates: Panama vs U.S. Average (per 100,000)
Violent Crime
| Total Violent | 338.5/100K |
| 11% below US avg |
| |
Property Crime
| Total Property | 3,348.7/100K |
| 71% above US avg |
Traffic Safety
| Fatal Crashes (County/yr) | 26 |
| Avg Accident Severity | 0.0 / 4.0 |
Safety Score
| Safety Grade | F |
| Safety Score | 1.0 / 5.0 |
Panama experiences four distinct seasons with an average annual temperature of 51°F (11°C). Winters average 24°F in January while summers reach 76°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 32.3 inches. Air quality is rated Good with a median AQI of 32. The city sits at an elevation of 1,405 feet.
Temperature
24°F Jan (-4°C)
76°F Jul (24°C)
| Annual Average | 51.2°F |
| 5% below US avg |
| January Average | 24°F (-4°C) |
| July Average | 76°F (24°C) |
| Sunny Days | 275 days/yr |
Geography
| Elevation | 1,405 ft (428 m) |
| Area | 0.3 sq mi (0.7 km²) |
| Population Density | 796/sq mi |
| Coordinates | 40.5998°N, 96.5112°W |
| Timezone | America/Chicago |
| County | Lancaster County County |
| Nearest Airport | Lincoln (LNK) 26 miles away |
Precipitation & Snow
Annual Rainfall
32.3"
15% below US avg
Wettest Month (May)
4.21"
Air Quality
| AQI Median | 32.0 |
| Rating | Good |
Air Pollutants (EPA 2023)
| Ozone (O₃) | 0.0455 ppm |
| PM2.5 (Fine Particles) | 8.3 μg/m³ |
Natural Hazard Risk
| Overall Risk | Relatively Moderate |
| Risk Score | 90.7 / 100 |
| Social Vulnerability | 14.8 / 100 |
| Community Resilience | 96.6 / 100 |
Hazard Breakdown
| Tornado |
Relatively High |
| Hurricane |
No Rating |
| Earthquake |
Very Low |
| Wildfire |
Relatively Moderate |
| Flood |
Relatively Moderate |
| Hail |
Relatively High |
| Strong Wind |
Very High |
| Heat Wave |
Relatively Low |
| Winter Weather |
Very High |
| Lightning |
Relatively High |
| Ice Storm |
Relatively High |
| Drought |
Relatively Moderate |
| Cold Wave |
Relatively Moderate |
| Landslide |
Very Low |
Source: FEMA National Risk Index v1.20 (Dec 2025)
Earthquake History
6 earthquakes (M2.5+) within 150 km since 1990.
Strongest: M3.6. Most recent: M2.9 on Jan 6, 2014.
| Dec 17, 2009 |
2 km NW of Auburn, Nebraska |
M3.6 |
59 km |
| Jul 16, 2004 |
6 km SSE of Riverton, Iowa |
M3.5 |
81 km |
| Aug 9, 1997 |
9 km NW of Clarkson, Nebraska |
M3.4 |
144 km |
| Feb 11, 1995 |
6 km E of Clearmont, Missouri |
M3.1 |
132 km |
| Jan 6, 2014 |
5 km NW of Liberty, Nebraska |
M2.9 |
54 km |
| Mar 31, 1993 |
2 km SE of Nemaha, Nebraska |
M2.9 |
79 km |
Source: USGS (M2.5+, 1990–2025)
Tornado History
644 tornadoes (EF0+) within 100 km since 1950.
Strongest: EF4. Total: 15 fatalities, 511 injuries.
| Date |
Rating |
Distance |
Fatalities |
| Apr 26, 2024 |
EF4 |
69 km |
0 |
| May 22, 2004 |
EF4 |
76 km |
1 |
| Jun 13, 2001 |
EF4 |
55 km |
0 |
| Apr 7, 1978 |
EF4 |
100 km |
0 |
| May 6, 1975 |
EF4 |
74 km |
3 |
| Jun 22, 1964 |
EF4 |
90 km |
0 |
| Apr 25, 1957 |
EF4 |
89 km |
1 |
| Apr 5, 1954 |
EF4 |
96 km |
0 |
| Aug 13, 1952 |
EF4 |
69 km |
0 |
| Apr 26, 2024 |
EF3 |
92 km |
0 |
| Apr 26, 2024 |
EF3 |
30 km |
0 |
| Apr 26, 2024 |
EF3 |
90 km |
0 |
| May 21, 2019 |
EF3 |
90 km |
0 |
| Jun 3, 2014 |
EF3 |
80 km |
0 |
| May 11, 2014 |
EF3 |
80 km |
0 |
| Jul 24, 1993 |
EF3 |
58 km |
0 |
| Jun 15, 1992 |
EF3 |
71 km |
0 |
| Jun 15, 1992 |
EF3 |
42 km |
0 |
| Apr 26, 1991 |
EF3 |
81 km |
0 |
| Apr 26, 1991 |
EF3 |
9 km |
0 |
Source: NOAA SPC (EF0+, 1950–2024)
Wildfire History
2 wildfires (100+ acres) within 100 km.
Largest: ROCK CREEK (1,433 ac, 2023).
| Year |
Name |
Acres |
Distance |
| 2023 |
ROCK CREEK |
1,433 |
73 km |
| 1991 |
UNNAMED |
1,296 |
89 km |
Source: NIFC/IRWIN (100+ acres)
Monthly Weather
| Month |
Avg Temperature |
Precipitation |
Summary |
| January |
24°F (-4°C) |
0.6 in |
Coldest, Driest |
| February |
29°F (-2°C) |
0.8 in |
|
| March |
40°F (4°C) |
2.4 in |
|
| April |
52°F (11°C) |
2.9 in |
|
| May |
62°F (17°C) |
4.2 in |
Wettest |
| June |
72°F (22°C) |
4.0 in |
|
| July |
76°F (24°C) |
3.9 in |
Warmest |
| August |
75°F (24°C) |
3.7 in |
|
| September |
66°F (19°C) |
3.5 in |
|
| October |
54°F (12°C) |
2.4 in |
|
| November |
39°F (4°C) |
1.5 in |
|
| December |
27°F (-3°C) |
1.0 in |
|
Panama has a seasonal temperature swing of 52°F / from 24°F in January to 76°F in July. Total annual precipitation is 30.9 inches, with May being the wettest month (4.2") and January the driest (0.6").
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) |
$225 ($135–$360) |
| Specialist Visit |
$315 ($180–$496) |
| Urgent Care Visit |
$180 ($90–$315) |
| Emergency Room Visit |
$1,982 ($721–$4,505) |
| Dental Cleaning |
$117 ($68–$180) |
| Dental Filling |
$225 ($135–$360) |
View all 40 services
Auto Repair
| Oil Change (Conventional) |
$41 ($23–$68) |
| Oil Change (Synthetic) |
$68 ($45–$108) |
| Brake Pad Replacement |
$270 ($135–$451) |
| Tire Rotation |
$36 ($18–$68) |
| New Tires (Set of 4) |
$541 ($360–$901) |
| Battery Replacement |
$180 ($90–$315) |
View all 18 services
Home Services
| Plumber (Per Hour) |
$90 ($54–$135) |
| Electrician (Per Hour) |
$81 ($45–$126) |
| HVAC Repair |
$360 ($135–$721) |
| HVAC System Install |
$6,307 ($3,604–$10,812) |
| Roof Repair |
$901 ($360–$1,802) |
| Roof Replacement |
$8,109 ($4,956–$13,515) |
View all 25 services
Legal
| Divorce (Uncontested) |
$1,352 ($451–$3,154) |
| Divorce (Contested) |
$13,515 ($4,505–$27,030) |
| DUI Defense |
$4,505 ($1,802–$9,010) |
| Bankruptcy (Chapter 7) |
$1,352 ($721–$2,703) |
| Will Preparation |
$451 ($180–$901) |
| Trust Preparation |
$2,253 ($901–$4,505) |
View all 12 services
Personal Care
| Men's Haircut |
$23 ($14–$41) |
| Women's Haircut |
$50 ($27–$90) |
| Hair Coloring (Full) |
$135 ($68–$225) |
| Manicure |
$23 ($14–$41) |
| Pedicure |
$36 ($23–$59) |
| Massage (1 Hour) |
$72 ($45–$117) |
View all 12 services
Food & Grocery
| Gallon of Milk (per gallon) |
$3.69 ($2.70–$4.96) |
| Dozen Eggs (per dozen) |
$3.15 ($2.25–$4.51) |
| Loaf of Bread |
$3.42 ($2.25–$4.96) |
| Chicken Breast (per lb) |
$4.05 ($2.70–$5.86) |
| Ground Beef (per lb) |
$4.96 ($3.60–$6.76) |
| Rice (per lb) |
$0.90 ($0.54–$1.62) |
View all 20 services
Utilities
| Electricity (Monthly) |
$126 ($72–$225) |
| Natural Gas (Monthly) |
$63 ($27–$135) |
| Water/Sewer (Monthly) |
$63 ($36–$108) |
| Internet (Monthly) |
$63 ($36–$90) |
| Cell Phone Plan (Monthly) |
$59 ($27–$90) |
| Cable TV (Monthly) |
$77 ($45–$135) |
View all 8 services
Transportation
| Monthly Parking (Downtown) |
$180 ($68–$451) |
| Car Insurance (Annual) |
$1,802 ($1,081–$3,154) |
| Bus Pass (Monthly) |
$63 ($27–$117) |
| Taxi/Uber (5-Mile Ride) |
$14 ($7.21–$23) |
| Car Registration (Annual) |
$90 ($27–$225) |
| Driver's License Renewal |
$27 ($14–$68) |
View all 8 services
Education & Childcare
| Daycare (Infant, Monthly) |
$1,081 ($541–$2,253) |
| Daycare (Toddler, Monthly) |
$901 ($451–$1,802) |
| After-School Care (Monthly) |
$360 ($180–$631) |
| Tutoring (Per Hour) |
$45 ($23–$90) |
| SAT/ACT Prep Course |
$901 ($360–$2,253) |
| Private School (K-12, Annual) |
$11,263 ($4,505–$27,030) |
View all 8 services
Pets
| Vet Visit (Routine Checkup) |
$54 ($27–$90) |
| Dog Vaccination (Annual) |
$90 ($45–$180) |
| Dog Grooming |
$54 ($27–$90) |
| Pet Boarding (Per Night) |
$36 ($18–$68) |
| Dog Spay/Neuter |
$270 ($135–$451) |
| Cat Spay/Neuter |
$180 ($90–$360) |
View all 9 services
Childcare
| Center-Based (monthly) |
| Infant | $1,055 |
| Toddler | $979 |
| Preschool | $888 |
| Family Childcare (monthly) |
| Infant | $650 |
| Toddler | $650 |
| Preschool | $650 |
Source: DOL Women's Bureau (2022)
Frequently Asked Questions About Panama
What is the population of Panama?
Panama has a population of 223 residents and is located in Nebraska. The population density is 796 people per square mile, spread across 0.3 square miles. The median age of residents is 51.8 years, which is older than the national median of 38.9 years. The population is 56.5% female and 43.5% male.
Is Panama expensive to live in?
Panama is more affordable than the national average, with a cost of living index of 90.1 / below the baseline of 100. The median household income is $89,583, 19% above the national average of $75,149. The median home value is $196,000 (30% below the U.S. median). Renters pay a median of $1,250 per month. The home price-to-income ratio is 2.2x, indicating housing is reasonably affordable relative to local income levels.
Is Panama safe?
Panama is safer than the national average, with a violent crime rate of 338 per 100,000 compared to the U.S. rate of 380. Property crime occurs at a rate of 3,349 per 100,000 (above 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 51°F (11°C). Winter temperatures average 24°F in January, while summers reach an average of 76°F in July. The area receives 275 sunny days per year, well above the national average of 205. Annual rainfall totals 32.3 inches. Air quality is rated Good with a median Air Quality Index (AQI) of 32.
How is the job market in Panama?
Panama has a healthy job market with an unemployment rate of 3.4%, near the national average of 3.6%. The average weekly wage is $1,141. There are 9,853 business establishments in the area, including 794 restaurants and food service locations. The average commute time is 33 minutes, and 13.6% of workers work from home.
How much does housing cost in Panama?
The median home value in Panama is $196,000. Zillow estimates the typical home value at $268,602. For renters, the median monthly rent is $1,250. Fair market rent is $791 for a 1-bedroom and $1,001 for a 2-bedroom apartment. The homeownership rate is 88.5%. The average annual property tax is $6,896.
How are the schools in Panama?
Schools in Panama score 6.5 out of 10 on standardized testing, near the national average. 15.0% of adults in Panama hold a bachelor's degree or higher, below the national average of 33.7%. 92.5% have completed high school. 5.8% hold a graduate or professional degree.
How healthy is Panama?
The obesity rate in Panama is 32.7% (above the national rate of 32.1%). 10.2% of adults are smokers. 15.9% are physically inactive. 21.4% of residents report depression. 5.9% lack health insurance (below the national rate). 95.4% of residents have access to exercise opportunities. The primary care physician ratio is 1:1,442.
What is transportation like in Panama?
The average commute in Panama is 33 minutes, longer than the national average of 28 minutes. 75% of workers drive alone to work, and 13.6% work from home.
What are the demographics of Panama?
The racial and ethnic makeup of Panama is 87.9% White, 11.2% Hispanic or Latino. 99.1% of residents speak only English at home. 6.3% of the population are military veterans. 17.4% of residents have a disability. 98.4% have health insurance coverage.