Panama, NE
Full City Profile · Nebraska · Lancaster County County
3.9
/5.0
B+
Good
223
Population
796/sq mi density
$89,583
Median Income
$49,787 per capita
$196,000
Home Value
$279,758 Zillow
$1,250
Median Rent
26.3% income on rent
51°F
Avg Temperature
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.4 / 5.0
$89,583 median income, 4.3% unemployment
A+
Affordability
5.0 / 5.0
$196,000 home value, $1,250/mo rent
C
Education
2.2 / 5.0
15.0% bachelor's degree or higher
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. Annual precipitation totals 31.7 inches. The area receives 28.6 inches of snow annually. Air quality is rated Good with a median AQI of 41.
Temperature
24°F Jan (-4°C)
76°F Jul (24°C)
| Annual Average | 51.1°F |
| 5% below US avg | |
| January Average | 24°F (-4°C) |
| July Average | 76°F (24°C) |
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
Air Quality
| AQI Median | 41.0 |
| Rating | Good |
| Good Days % | 83.7% |
| Unhealthy Days | 0 |
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)
Monthly Weather
| Month | Avg Temperature | Precipitation | Summary |
|---|---|---|---|
| January | 24°F (-4°C) | 0.7 in | Coldest, Driest |
| February | 29°F (-2°C) | 1.0 in | |
| March | 41°F (5°C) | 1.8 in | |
| April | 51°F (11°C) | 3.0 in | |
| May | 62°F (17°C) | 5.5 in | Wettest |
| June | 72°F (22°C) | 5.1 in | |
| July | 76°F (24°C) | 3.5 in | Warmest |
| August | 74°F (23°C) | 3.3 in | |
| September | 66°F (19°C) | 2.8 in | |
| October | 53°F (12°C) | 2.5 in | |
| November | 39°F (4°C) | 1.5 in | |
| December | 28°F (-2°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 31.7 inches, with May being the wettest month (5.5") and January the driest (0.7").