Median Income
$45,489
39% lower than US avg
Home Value
$121,100
57% lower than US avg
Violent Crime
46/100K
88% lower than US avg
Bachelor's+
7.4%
78% lower than US avg
Median Rent
$833
28% lower than US avg
Obesity Rate
39.8%
24% higher than US avg
Unemployment
2.9%
19% lower than US avg
Poverty Rate
20.5%
65% higher than US avg
How Panama Compares to the U.S. Average (100% = U.S. avg)
People
Population1,432
Median Age30.5 yrs
Density634/mi²
Male / Female52% / 48%
Largest GroupWhite 64%
Veterans11.1%
Economy
B
Median Income$45,489
Per Capita$20,687
Unemployment2.9%
Poverty20.5%
County GDP$9,255M
Commute25 min
Housing
A+
Home Value$121,100
Rent$833
Ownership65.5%
Zillow$122,823
Housing Units652
Rent Burden30.7%
Crime
F
Violent46/100K
Property872/100K
Health
Obesity39.8%
Uninsured12.0%
Smoking22.5%
Depression28.0%
Heart Disease7.3%
Climate
Avg Temp63°F (17°C)
AQI45 (Good)
Sunny Days318/yr
Elevation451 ft (137 m)
Education
D
Bachelor's+7.4%
High School+87.9%
Graduate+3.0%
School Score5.08
Community
2024 VoteR 68% / D 30%
Commute25 min
Broadband88.6%
EV Stations2
Libraries7
Is Panama a Good Place to Live?
Based on current data, Panama receives an overall livability score of 2.6 out of 5.0, earning a grade of C+. Key strengths include low unemployment, low crime rates, affordable housing, abundant sunshine. Areas to be aware of include an elevated poverty rate, below-average incomes, high obesity rates. Panama has some notable strengths but also faces challenges that prospective residents should consider.
Economy & Jobs
The median household income in Panama is $45,489, 39% below the national average of $75,149. The job market is very strong with unemployment at just 2.9%. The poverty rate of 20.5% exceeds the national average of 12.4%, indicating economic hardship for a significant portion of the population. Workers commute an average of 25 minutes.
Cost of Living & Housing
The median home value in Panama is $121,100, 57% below the national median / offering relatively affordable homeownership. Renters pay a median of $833 per month, below the national average / a plus for affordability. At just 2.7x median income, home prices are very affordable relative to local earnings.
Safety & Crime
Panama is a very safe community with a violent crime rate of 46 per 100,000 residents / well below the national average of 380. Property crime occurs at a rate of 872 per 100,000, 56% below the national average.
Education
7.4% of residents hold a bachelor's degree, below the national average of 33.7%. 87.9% have completed high school. Area schools have an average test score of 5.1/10.
Climate & Weather
Panama enjoys a moderate climate with an average annual temperature of 63°F. Winters average 42°F in January while summers reach 83°F in July. With 318 sunny days per year, residents enjoy well above the national average of sunshine. Air quality is rated Good with a median AQI of 45.
Panama has a population of 1,432 with a density of 634 people per square mile, spread across 1.6 square miles. The median age is 30.5 years, 22% younger than the national median of 38.9. The gender split is 48.3% female and 51.7% male. The city is predominantly White (64.3%), with 27.4% Hispanic. English is the primary language spoken at home by 98.6% of residents. 11.1% of the population are veterans, above the national rate of 6.0%. 21.1% of residents have a disability (above the 13.0% national average). 83.5% have health insurance coverage.
Population
30.5yrs
Median Age
22% below US avg
Language Spoken at Home
English Only
98.6%
26% above US avg
Spanish
1.4%
90% below US avg
The median household income in Panama is $45,489, which is 39% below the national average of $75,149. Per capita income is $20,687 (below the $39,052 national figure). The average weekly wage is $1,061, 26% lower than the U.S. average. The unemployment rate is 2.9% (below the 3.6% US average). 20.5% of residents live below the poverty line, higher than the national rate of 12.4%. The area has 3,751 business establishments, including 302 restaurants. The cost of living index is 87.8, below the national baseline of 100 / offering relatively affordable living. Workers commute an average of 25 minutes. 9.4% of workers work from home (below the 15.2% national rate).
Income
| Median HH Income | $45,489 |
| 39% below US avg |
| Per Capita Income | $20,687 |
| Avg Weekly Wage | $1,061 |
| IRS Avg AGI | $69,751 |
| Gini Index | 0.504 (0=equal, 1=unequal) |
Employment & Poverty
| Unemployment | 2.9% |
| 19% below US avg |
| Poverty Rate | 20.5% |
| 65% above US avg |
| Establishments (County) | 3,751 |
| County GDP | $9,255M |
Business (County)
| Restaurants | 302 |
| Healthcare | 482 |
| Retail | 538 |
| Manufacturing | 156 |
Tax & Cost of Living
| Property Tax (IRS) | $3,305 |
| 6% below US avg |
| Cost of Living | 87.80 (100=avg) |
| Effective Tax Rate | 2.73% |
Commute & Transportation
| Commute Time | 25.1 min |
| Drive Alone | 82.2% |
| Public Transit | 0.0% |
| Work from Home | 9.4% |
The median home value in Panama is $121,100, 57% below the national median of $281,900. Zillow estimates the typical home value at $122,823. Monthly rent averages $833 (28% below the national average of $1,163). Fair market rent ranges from $791 for a one-bedroom to $995 for a two-bedroom apartment. 65.5% of housing units are owner-occupied. There are 652 total housing units in the city. The median year a home was built is 1982. The average annual property tax is $3,305. 30.7% of renters spend 30% or more of their income on housing. The home price-to-income ratio is 2.7x, well within the affordable range.
Home Values
| Census Median | $121,100 |
| 57% below US avg |
| Zillow ZHVI | $122,823 |
Real Estate Market (Redfin)
Rental Costs
| Census Median Rent | $833 |
| 28% below US avg |
| Rent Burden | 30.7% |
HUD Fair Market Rent
| Studio | $744 |
| 1 Bedroom | $791 |
| 2 Bedrooms | $995 |
| 3 Bedrooms | $1,297 |
| 4 Bedrooms | $1,501 |
Ownership & Property
| Homeownership | 65.5% |
| Owner-Occupied | 65.5% |
| Renter-Occupied | 34.5% |
| Housing Units | 652 |
| Median Year Built | 1982 |
Property Tax
| Avg Tax (IRS) | $3,305 |
| 6% below US avg |
| Effective Rate | 2.73% |
In Panama, 39.8% of adults are obese, above the national rate of 32.1%. 12.6% have diabetes (above the 10.5% national rate). Heart disease affects 7.3% of residents, above the national average. 37.7% have high blood pressure. 22.5% are current smokers (above the 14.0% national rate). 14.5% report binge drinking. 36.2% are physically inactive, above the national average. 28.0% report depression (above the 20.0% national average). 21.8% experience frequent mental distress. 12.0% of residents lack health insurance (above the 8.6% national rate). The primary care physician ratio is 1:764. The dentist ratio is 1:1,265. 64.5% of residents have access to exercise opportunities. The food environment index is 6.6 out of 10.
Health Metrics: Panama vs U.S. Average (%)
Chronic Conditions
| Obesity | 39.8% |
| 24% above US avg |
| Diabetes | 12.6% |
| Heart Disease | 7.3% |
| High Blood Pressure | 37.7% |
| Asthma | 13.0% |
| COPD | 9.4% |
| Cancer | 7.0% |
| Stroke | 3.9% |
Behaviors & Mental Health
| Smoking | 22.5% |
| 61% above US avg |
| Binge Drinking | 14.5% |
| Physical Inactivity | 36.2% |
| Depression | 28.0% |
| Mental Distress | 21.8% |
| Physical Distress | 16.5% |
| Short Sleep | 39.4% |
Healthcare Access
| Insurance Rate | 83.5% |
| Uninsured | 12.0% |
| 40% above US avg |
| Primary Care | 1:764 |
| Dentists | 1:1,265 |
| Mental Health | 1:255 |
| Checkup Rate | 76.7% |
| Dental Visits | 50.6% |
| Premature Death | 11,659/100K |
Food & Exercise
| Food Environment | 6.6/10 |
| Exercise Access | 64.5% |
| Healthcare Facilities | 482 |
Panama has a violent crime rate of 46 per 100,000 residents, 88% below the national average of 380. Property crime stands at 872 per 100,000, 56% below the U.S. average. The county recorded 19 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 | 45.9/100K |
| 88% below US avg |
| |
Property Crime
| Total Property | 872.0/100K |
| 56% below US avg |
Traffic Safety
| Fatal Crashes (County/yr) | 19 |
| Avg Accident Severity | 0.0 / 4.0 |
Safety Score
| Safety Grade | F |
| Safety Score | 1.0 / 5.0 |
Panama enjoys a temperate climate with an average annual temperature of 63°F (17°C). Winters average 42°F in January while summers reach 83°F in July. The area gets 318 sunny days per year, well above the U.S. average of 205 / making it one of the sunnier locations in the country. Air quality is rated Good with a median AQI of 45. The city sits at an elevation of 451 feet.
Temperature
42°F Jan (6°C)
83°F Jul (28°C)
| Annual Average | 63.0°F |
| 17% above US avg |
| January Average | 42°F (6°C) |
| July Average | 83°F (28°C) |
| Sunny Days | 318 days/yr |
Geography
| Elevation | 451 ft (137 m) |
| Area | 1.6 sq mi (4.1 km²) |
| Population Density | 634/sq mi |
| Coordinates | 35.1712°N, 94.6684°W |
| Timezone | America/Chicago |
| County | Sebastian County County |
| Nearest Airport | Fort Smith Regional (FSM)
18 miles away |
Precipitation & Snow
Wettest Month (May)
5.79"
Air Quality
| AQI Median | 45.0 |
| Rating | Good |
Natural Hazard Risk
| Overall Risk | Relatively Moderate |
| Risk Score | 86.8 / 100 |
| Social Vulnerability | 48.9 / 100 |
| Community Resilience | 38.8 / 100 |
Hazard Breakdown
| Tornado |
Relatively High |
| Hurricane |
Very Low |
| Earthquake |
Relatively Low |
| Wildfire |
Relatively Moderate |
| Flood |
Relatively Moderate |
| Hail |
Relatively Low |
| Strong Wind |
Relatively Moderate |
| Heat Wave |
Relatively Moderate |
| Winter Weather |
Relatively High |
| Lightning |
Relatively High |
| Ice Storm |
Very High |
| Drought |
Relatively Low |
| Cold Wave |
Relatively Moderate |
| Landslide |
Very Low |
Source: FEMA National Risk Index v1.20 (Dec 2025)
Earthquake History
100 earthquakes (M2.5+) within 150 km since 1990.
Strongest: M4.1. Most recent: M2.9 on Aug 14, 2024.
| Apr 3, 2012 |
8 km SSW of Pittsburg, Oklahoma |
M4.1 |
125 km |
| Aug 24, 2021 |
1 km S of Quinton, Oklahoma |
M3.7 |
64 km |
| Aug 18, 2019 |
1 km ENE of Quinton, Oklahoma |
M3.7 |
62 km |
| Aug 22, 2021 |
3 km ESE of Quinton, Oklahoma |
M3.4 |
61 km |
| Jul 22, 2021 |
2 km E of Quinton, Oklahoma |
M3.3 |
61 km |
| Feb 25, 2009 |
4 km SE of Ashland, Oklahoma |
M3.3 |
134 km |
| May 16, 2019 |
3 km W of Horntown, Oklahoma |
M3.3 |
148 km |
| Feb 7, 2020 |
2 km SSW of Quinton, Oklahoma |
M3.2 |
66 km |
| Feb 7, 2020 |
3 km SSW of Quinton, Oklahoma |
M3.2 |
66 km |
| May 27, 2007 |
9 km SW of Hanna, Oklahoma |
M3.2 |
119 km |
| Aug 12, 2019 |
1 km NE of Quinton, Oklahoma |
M3.2 |
63 km |
| Jun 3, 2022 |
10 km W of Quinton, Oklahoma |
M3.2 |
74 km |
| May 14, 2022 |
6 km SSE of Yeager, Oklahoma |
M3.1 |
150 km |
| Mar 14, 2022 |
12 km E of Crowder, Oklahoma |
M3.1 |
79 km |
| Jan 26, 2014 |
4 km WNW of Lamar, Oklahoma |
M3.1 |
138 km |
| Jan 7, 2018 |
7 km SW of Indianola, Oklahoma |
M3.1 |
106 km |
| Oct 1, 2010 |
7 km SE of Stuart, Oklahoma |
M3.1 |
129 km |
| Apr 1, 2020 |
2 km NE of Quinton, Oklahoma |
M3.1 |
62 km |
| Mar 15, 2006 |
4 km W of Horntown, Oklahoma |
M3.0 |
149 km |
| Apr 14, 2012 |
3 km W of Arpelar, Oklahoma |
M3.0 |
124 km |
Source: USGS (M2.5+, 1990–2025)
Tornado History
543 tornadoes (EF0+) within 100 km since 1950.
Strongest: EF5. Total: 93 fatalities, 1,000 injuries.
| Date |
Rating |
Distance |
Fatalities |
| Mar 26, 1976 |
EF5 |
4 km |
2 |
| May 24, 2011 |
EF4 |
66 km |
4 |
| Mar 26, 1976 |
EF4 |
58 km |
1 |
| May 26, 1973 |
EF4 |
73 km |
5 |
| Apr 19, 1968 |
EF4 |
36 km |
14 |
| May 5, 1961 |
EF4 |
59 km |
16 |
| May 5, 1960 |
EF4 |
26 km |
5 |
| May 5, 1960 |
EF4 |
66 km |
16 |
| Jan 22, 1957 |
EF4 |
26 km |
10 |
| Dec 31, 2010 |
EF3 |
92 km |
4 |
| Apr 9, 2009 |
EF3 |
76 km |
3 |
| Jun 1, 1999 |
EF3 |
83 km |
0 |
| May 4, 1999 |
EF3 |
46 km |
0 |
| Apr 21, 1996 |
EF3 |
31 km |
2 |
| Nov 22, 1983 |
EF3 |
71 km |
0 |
| Nov 22, 1983 |
EF3 |
76 km |
0 |
| Dec 2, 1982 |
EF3 |
53 km |
0 |
| Apr 19, 1981 |
EF3 |
92 km |
0 |
| Apr 7, 1980 |
EF3 |
12 km |
0 |
| May 26, 1973 |
EF3 |
59 km |
0 |
Source: NOAA SPC (EF0+, 1950–2024)
Wildfire History
20 wildfires (100+ acres) within 100 km.
Largest: UNNAMED (18,089 ac, 2007).
| Year |
Name |
Acres |
Distance |
| 2007 |
UNNAMED |
18,089 |
73 km |
| 2000 |
UNNAMED |
15,318 |
54 km |
| 2007 |
UNNAMED |
14,774 |
94 km |
| 2009 |
40 ACRE TURNAROUND |
13,985 |
89 km |
| 1998 |
UNNAMED |
13,929 |
52 km |
| 2016 |
WEST CAVANAL FIRE |
13,100 |
16 km |
| 2004 |
UNNAMED |
12,086 |
72 km |
| 2016 |
UNNAMED |
11,929 |
52 km |
| 2007 |
UNNAMED |
10,593 |
50 km |
| 2011 |
UNNAMED |
10,444 |
99 km |
| 2016 |
UNNAMED |
9,483 |
79 km |
| 2013 |
UNNAMED |
9,385 |
70 km |
| 2021 |
BILLY CREEK |
9,236 |
53 km |
| 2011 |
TI VALLEY |
9,205 |
93 km |
| 2017 |
MIDDLE RIDGE |
8,501 |
45 km |
| 2018 |
SIX THOUSAND |
8,455 |
93 km |
| 2016 |
DOG HOUSE FIRE |
8,304 |
64 km |
| 2019 |
UNNAMED |
8,217 |
93 km |
| 2014 |
UNNAMED |
7,945 |
71 km |
| 2003 |
UNNAMED |
7,415 |
84 km |
Source: NIFC/IRWIN (100+ acres)
Monthly Weather
| Month |
Avg Temperature |
Precipitation |
Summary |
| January |
42°F (6°C) |
2.2 in |
Driest |
| February |
44°F (6°C) |
2.8 in |
|
| March |
52°F (11°C) |
4.1 in |
|
| April |
61°F (16°C) |
4.3 in |
|
| May |
69°F (20°C) |
5.8 in |
Wettest |
| June |
77°F (25°C) |
4.1 in |
|
| July |
83°F (28°C) |
3.1 in |
Warmest |
| August |
81°F (27°C) |
3.0 in |
|
| September |
74°F (23°C) |
4.7 in |
|
| October |
63°F (17°C) |
4.3 in |
|
| November |
51°F (10°C) |
4.3 in |
|
| December |
42°F (5°C) |
3.1 in |
Coldest |
Panama has a seasonal temperature swing of 41°F / from 42°F in December to 83°F in July. Total annual precipitation is 45.8 inches, with May being the wettest month (5.8") and January the driest (2.2").
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) |
$220 ($132–$351) |
| Specialist Visit |
$307 ($176–$483) |
| Urgent Care Visit |
$176 ($88–$307) |
| Emergency Room Visit |
$1,932 ($702–$4,390) |
| Dental Cleaning |
$114 ($66–$176) |
| Dental Filling |
$220 ($132–$351) |
View all 40 services
Auto Repair
| Oil Change (Conventional) |
$40 ($22–$66) |
| Oil Change (Synthetic) |
$66 ($44–$105) |
| Brake Pad Replacement |
$263 ($132–$439) |
| Tire Rotation |
$35 ($18–$66) |
| New Tires (Set of 4) |
$527 ($351–$878) |
| Battery Replacement |
$176 ($88–$307) |
View all 18 services
Home Services
| Plumber (Per Hour) |
$88 ($53–$132) |
| Electrician (Per Hour) |
$79 ($44–$123) |
| HVAC Repair |
$351 ($132–$702) |
| HVAC System Install |
$6,146 ($3,512–$10,536) |
| Roof Repair |
$878 ($351–$1,756) |
| Roof Replacement |
$7,902 ($4,829–$13,170) |
View all 25 services
Legal
| Divorce (Uncontested) |
$1,317 ($439–$3,073) |
| Divorce (Contested) |
$13,170 ($4,390–$26,340) |
| DUI Defense |
$4,390 ($1,756–$8,780) |
| Bankruptcy (Chapter 7) |
$1,317 ($702–$2,634) |
| Will Preparation |
$439 ($176–$878) |
| Trust Preparation |
$2,195 ($878–$4,390) |
View all 12 services
Personal Care
| Men's Haircut |
$22 ($13–$40) |
| Women's Haircut |
$48 ($26–$88) |
| Hair Coloring (Full) |
$132 ($66–$220) |
| Manicure |
$22 ($13–$40) |
| Pedicure |
$35 ($22–$57) |
| Massage (1 Hour) |
$70 ($44–$114) |
View all 12 services
Food & Grocery
| Gallon of Milk (per gallon) |
$3.60 ($2.63–$4.83) |
| Dozen Eggs (per dozen) |
$3.07 ($2.20–$4.39) |
| Loaf of Bread |
$3.34 ($2.20–$4.83) |
| Chicken Breast (per lb) |
$3.95 ($2.63–$5.71) |
| Ground Beef (per lb) |
$4.83 ($3.51–$6.59) |
| Rice (per lb) |
$0.88 ($0.53–$1.58) |
View all 20 services
Utilities
| Electricity (Monthly) |
$123 ($70–$220) |
| Natural Gas (Monthly) |
$61 ($26–$132) |
| Water/Sewer (Monthly) |
$61 ($35–$105) |
| Internet (Monthly) |
$61 ($35–$88) |
| Cell Phone Plan (Monthly) |
$57 ($26–$88) |
| Cable TV (Monthly) |
$75 ($44–$132) |
View all 8 services
Transportation
| Monthly Parking (Downtown) |
$176 ($66–$439) |
| Car Insurance (Annual) |
$1,756 ($1,054–$3,073) |
| Bus Pass (Monthly) |
$61 ($26–$114) |
| Taxi/Uber (5-Mile Ride) |
$13 ($7.02–$22) |
| Car Registration (Annual) |
$88 ($26–$220) |
| Driver's License Renewal |
$26 ($13–$66) |
View all 8 services
Education & Childcare
| Daycare (Infant, Monthly) |
$1,054 ($527–$2,195) |
| Daycare (Toddler, Monthly) |
$878 ($439–$1,756) |
| After-School Care (Monthly) |
$351 ($176–$615) |
| Tutoring (Per Hour) |
$44 ($22–$88) |
| SAT/ACT Prep Course |
$878 ($351–$2,195) |
| Private School (K-12, Annual) |
$10,975 ($4,390–$26,340) |
View all 8 services
Pets
| Vet Visit (Routine Checkup) |
$53 ($26–$88) |
| Dog Vaccination (Annual) |
$88 ($44–$176) |
| Dog Grooming |
$53 ($26–$88) |
| Pet Boarding (Per Night) |
$35 ($18–$66) |
| Dog Spay/Neuter |
$263 ($132–$439) |
| Cat Spay/Neuter |
$176 ($88–$351) |
View all 9 services
Frequently Asked Questions About Panama
What is the population of Panama?
Panama has a population of 1,432 residents and is located in Oklahoma. The population density is 634 people per square mile, spread across 1.6 square miles. The median age of residents is 30.5 years, which is younger than the national median of 38.9 years. The population is 48.3% female and 51.7% male.
Is Panama expensive to live in?
Panama is more affordable than the national average, with a cost of living index of 87.8 / below the baseline of 100. The median household income is $45,489, 39% below the national average of $75,149. The median home value is $121,100 (57% below the U.S. median). Renters pay a median of $833 per month, below the national average of $1,163. The home price-to-income ratio is 2.7x, indicating housing is reasonably affordable relative to local income levels.
Is Panama safe?
Panama is considered a very safe city with a violent crime rate of 46 per 100,000 residents, well below the national average of 380. Property crime occurs at a rate of 872 per 100,000 (below the national average). Overall, Panama receives a safety grade of F based on combined crime data.
What is the weather like in Panama?
Panama enjoys a temperate climate with an average annual temperature of 63°F (17°C). Winter temperatures average 42°F in January, while summers reach an average of 83°F in July. The area receives 318 sunny days per year, well above the national average of 205. Air quality is rated Good with a median Air Quality Index (AQI) of 45.
How is the job market in Panama?
The job market in Panama is very strong, with unemployment at just 2.9% / well below the national rate of 3.6%. The average weekly wage is $1,061. There are 3,751 business establishments in the area, including 302 restaurants and food service locations. The average commute time is 25 minutes, and 9.4% of workers work from home.
How much does housing cost in Panama?
The median home value in Panama is $121,100. Zillow estimates the typical home value at $122,823. For renters, the median monthly rent is $833. Fair market rent is $791 for a 1-bedroom and $995 for a 2-bedroom apartment. The homeownership rate is 65.5%. The average annual property tax is $3,305.
How are the schools in Panama?
Schools in Panama score 5.1 out of 10 on standardized testing, near the national average. 7.4% of adults in Panama hold a bachelor's degree or higher, below the national average of 33.7%. 87.9% have completed high school. 3.0% hold a graduate or professional degree.
How healthy is Panama?
The obesity rate in Panama is 39.8% (above the national rate of 32.1%). 22.5% of adults are smokers. 36.2% are physically inactive. 28.0% of residents report depression. 12.0% lack health insurance (above the national rate). 64.5% of residents have access to exercise opportunities. The primary care physician ratio is 1:764.
What is transportation like in Panama?
The average commute in Panama is 25 minutes. 82.2% of workers drive alone to work, and 9.4% work from home.
What are the demographics of Panama?
The racial and ethnic makeup of Panama is 64.3% White, 27.4% Hispanic or Latino. 98.6% of residents speak only English at home. 11.1% of the population are military veterans. 21.1% of residents have a disability. 83.5% have health insurance coverage.
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