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Panama, NY

New York

Panama is a small town in New York with a population of 476. Residents earn $57,250 per year, which is 24% below the national average.

3.9 /5.0
B+ Good
476 Population 215/sq mi density
$57,250 Median Income $28,956 per capita
$96,600 Home Value $177,505 Zillow
$742 Median Rent 30.0% income on rent
47°F Avg Temperature 246 sunny days/yr
B+
Overall
3.9 / 5.0
Good overall score based on economy, affordability, safety and education
A
Economy
4.1 / 5.0
$57,250 median income, 1.0% unemployment
A+
Affordability
5.0 / 5.0
$96,600 home value, $742/mo rent
C+
Education
2.6 / 5.0
19.4% bachelor's degree or higher
Median Income $57,250
24% lower than US avg
Home Value $96,600
66% lower than US avg
Bachelor's+ 19.4%
42% lower than US avg
Median Rent $742
36% lower than US avg
Obesity Rate 34.5%
7% higher than US avg
Unemployment 1.0%
72% lower than US avg
Poverty Rate 3.6%
71% lower than US avg

How Panama Compares to the U.S. Average (100% = U.S. avg)

People

Population476
Median Age48.8 yrs
Density215/mi²
Male / Female50% / 50%
Largest GroupWhite 99%
Veterans5.1%

Economy

A
Median Income$57,250
Per Capita$28,956
Unemployment1.0%
Poverty3.6%
County GDP$6,275M
Commute24 min

Housing

A+
Home Value$96,600
Rent$742
OwnershipN/A
Zillow$177,505
Housing Units236
Rent Burden30.0%

Health

Obesity34.5%
Uninsured6.8%
Smoking15.3%
Depression22.5%
Heart Disease5.6%

Climate

Avg Temp47°F (9°C)
AQI36 (Good)
Rain45.9 in/yr
Sunny Days246/yr
Elevation1,680 ft (512 m)

Education

C+
Bachelor's+19.4%
High School+91.0%
Graduate+10.3%
School Score5.39

Community

2024 VoteR 61% / D 39%
Commute24 min
Broadband83.0%
Libraries24

Is Panama a Good Place to Live?

Based on current data, Panama receives an overall livability score of 3.9 out of 5.0, earning a grade of B+. Key strengths include low unemployment, affordable housing, abundant sunshine, a low poverty rate. Areas to be aware of include below-average incomes. 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 $57,250, 24% below the national average of $75,149. The job market is very strong with unemployment at just 1.0%. Only 3.6% of residents live below the poverty line, well below the national rate of 12.4%. Workers commute an average of 24 minutes.

Cost of Living & Housing

The median home value in Panama is $96,600, 66% below the national median — offering relatively affordable homeownership. Renters pay a median of $742 per month, below the national average — a plus for affordability. At just 1.7x median income, home prices are very affordable relative to local earnings.

Education

19.4% of residents hold a bachelor's degree, below the national average of 33.7%. 91.0% have completed high school. Area schools have an average test score of 5.4/10.

Climate & Weather

Panama experiences four distinct seasons with an average temperature of 47°F. Winters average 24°F in January while summers reach 69°F in July. The area gets 246 sunny days per year. Annual precipitation totals 45.9 inches, including 98.4 inches of snow. Air quality is rated Good with a median AQI of 36.

Panama has a population of 476 with a density of 215 people per square mile. The median age is 48.8 years, 25% older than the national median of 38.9. The city is predominantly White (98.5%).

Population

476
Total Population
215
People / sq mi
48.8yrs
Median Age
25% above US avg
2.2mi²
Land Area

Gender Distribution

Male 50.4%
Female 49.6%

Race & Ethnicity

Panama vs U.S. Average

Language Spoken at Home

English Only97.9%
25% above US avg
Spanish2.1%
84% below US avg

Social Characteristics

Panama vs U.S. Average

The median household income in Panama is $57,250, which is 24% below the national average of $75,149. The unemployment rate is 1.0% (below the 3.6% US average). 3.6% of residents live below the poverty line. Workers commute an average of 24 minutes.

Income: Panama vs U.S.

Commute Mode

Income

Median HH Income$57,250
24% below US avg
Per Capita Income$28,956
Avg Weekly Wage$1,018
IRS Avg AGI$58,667

Employment & Poverty

Unemployment1.0%
72% below US avg
Poverty Rate3.6%
71% below US avg
Establishments (County)3,224
County GDP$6,275M

Business (County)

Restaurants330
Healthcare255
Retail443
Manufacturing176

Tax & Cost of Living

Property Tax (IRS)$7,210
106% above US avg
Cost of Living107.90 (100=avg)
Effective Tax Rate7.46%

Commute & Transportation

Commute Time23.7 min
Drive Alone81.5%
Public Transit0.0%
Work from Home4.2%

Walkability

The median home value in Panama is $96,600, 66% below the national average. Monthly rent averages $742 (36% below US avg). Zillow estimates the typical home value at $177,505.

Home Value Sources

Ownership Split

Home Values

Census Median$96,600
66% below US avg
Zillow ZHVI$177,505

Real Estate Market (Redfin)

Rental Costs

Census Median Rent$742
36% below US avg
Rent Burden30.0%

HUD Fair Market Rent

Studio$1,215
1 Bedroom$1,315
2 Bedrooms$1,579
3 Bedrooms$1,976
4 Bedrooms$2,193

Ownership & Property

Owner-Occupied63.6%
Housing Units236
Median Year Built1944

Property Tax

Avg Tax (IRS)$7,210
106% above US avg
Effective Rate7.46%
In Panama, 34.5% of adults are obese (above the 32.1% national rate). 6.8% of residents lack health insurance. 15.3% are current smokers. 22.5% report depression. 24.3% are physically inactive.

Health Metrics: Panama vs U.S. Average (%)

Chronic Conditions

Obesity34.5%
7% above US avg
Diabetes8.9%
Heart Disease5.6%
High Blood Pressure30.0%
Asthma11.7%
COPD6.8%
Cancer7.6%
Stroke3.0%

Behaviors & Mental Health

Smoking15.3%
9% above US avg
Binge Drinking19.5%
Physical Inactivity24.3%
Depression22.5%
Mental Distress18.8%
Physical Distress13.6%
Short Sleep41.4%

Healthcare Access

Insurance Rate91.7%
Uninsured6.8%
21% below US avg
Checkup Rate78.2%
Dental Visits58.5%
Premature Death9,667/100K

Food & Exercise

Food Environment7.6/10
Exercise Access79.4%
Healthcare Facilities255
Panama has an average annual temperature of 47°F (9°C). Winters average 24°F in January while summers reach 69°F in July. Annual precipitation is 45.9 inches. The area enjoys 246 sunny days per year. Air quality is rated Good with a median AQI of 36.

Temperature

24°F Jan (-4°C) 69°F Jul (20°C)
Annual Average47.3°F
12% below US avg
January Average24°F (-4°C)
July Average69°F (20°C)
Sunny Days246 days/yr

Precipitation & Snow

Annual Rainfall45.9 inches
21% above US avg
Snowfall98.4 inches/yr

Air Quality

AQI Median36.0
RatingGood

Geography

Elevation1,680 ft (512 m)
Area2.2 sq mi (5.7 km²)
Population Density215/sq mi
Coordinates42.0686°N, 79.4872°W
TimezoneAmerica/New_York
County FIPS36013
It is classified as Nonmetro — Urban 20K+, adjacent. 19.4% of residents hold a bachelor's degree or higher (42% below US avg). In the 2024 election, the county voted Republican by a 22-point margin. 83.0% of households have broadband internet.

2024 Presidential Election (County)

R 61%
D 39%

Winner: Republican by 22 points

Education

Bachelor's Degree+19.4%
42% below US avg
High School+91.0%
Graduate Degree+10.3%
School Test Score5.39
C+ Education Grade (2.6/5.0)

Urban-Rural Classification

RUCC Code 4Nonmetro — Urban 20K+, adjacent
Population Density215/sq mi
Total Area2.2 sq mi

Infrastructure & Services

Broadband Access83.0%
Public Libraries24
Healthcare Facilities255
Restaurants330
Retail Stores443

Safety & Disasters

Fatal Crashes (County/yr)10

Commute & Transportation

Avg Commute23.7 min
Drive Alone81.5%
Public Transit0.0%
Work from Home4.2%

Nearby Cities

Lakewood, NY 2,975 pop · 8.8 mi Jamestown West, NY 2,398 pop · 10.7 mi Celoron, NY 1,412 pop · 11.0 mi Corry, PA 6,162 pop · 12.3 mi Mayville, NY 1,272 pop · 12.8 mi Jamestown, NY 28,401 pop · 13.0 mi Falconer, NY 2,103 pop · 15.3 mi Youngsville, PA 1,669 pop · 17.3 mi Westfield, NY 2,937 pop · 18.1 mi Frewsburg, NY 2,083 pop · 18.2 mi Russell, PA 1,300 pop · 20.0 mi North East, PA 4,069 pop · 20.4 mi North Warren, PA 2,074 pop · 20.9 mi Union City, PA 2,911 pop · 21.8 mi
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