Panama, IA

Census Place

2024 Population

245

US Senator

Chuck Grassley

Republican Party

US Senator

Joni Ernst

Republican Party

2024 Median Age

36.7

0.272% 1-year decrease

2024 Poverty Rate

7.38%

73.4% 1-year increase

2024 Median Household Income

$63,125

3.06% 1-year growth

2024 Median Property Value

$142,200

Population & Diversity

Panama, IA is home to a population of 245 people, from which 100% are citizens.

In 2024, there were 10.8 times more White (Non-Hispanic) residents (217 people) in Panama, IA than any other race or ethnicity. There were 20 Two Races Including Other (Hispanic) and 6 Other (Non-Hispanic) residents, the second and third most common ethnic groups.

Population & Diversity

Citizenship

100%

2024 Citizenship

100%

2023 Citizenship

As of 2024, 100% of Panama, IA residents were US citizens, which is higher than the national average of 93.2%. In 2023, the percentage of US citizens in Panama, IA was 100%, meaning that the rate of citizenship has been maintaining.

The following chart shows US citizenship percentages in Panama, IA compared to that of it's neighboring and parent geographies.

Diversity

Race and Ethnicity

The 3 largest ethnic groups in Panama, IA

White (Non-Hispanic)
217 ± 111
Two Races Including Other (Hispanic)
20 ± 30
Other (Non-Hispanic)
6 ± 10

8.16%

Hispanic Population

20 people

8.16% of the people in Panama, IA are hispanic (20 people).

The following chart shows the 8 races represented in Panama, IA as a share of the total population.

Global Diversity

The PUMS dataset is not available at the Place level, so we are showing data for Iowa.

Most Common Origin

Mexico
44,333 ± 5,134 people
India
11,889 ± 2,672 people
Guatemala
8,189 ± 2,219 people

In 2024, the most common birthplace for the foreign-born residents of Iowa was Mexico, the natal country of 44,333 Iowa residents, followed by India with 11,889 and Guatemala with 8,189.

Military

Veterans

Most Common Service Period

Gulf War (2001-)
4 ± 15
Korea
3 ± 11
Vietnam
2 ± 14

Panama, IA has a large population of military personnel who served in Gulf War (2001-), 1.33 times greater than any other conflict.

The chart shows the distribution of veterans by conflict in Panama, IA.

Economy

The economy of Panama, IA employs 143 people. In 2024, the largest industries in Panama, IA were Transportation & Warehousing (61 people), Accommodation & Food Services (20 people), and Health Care & Social Assistance (16 people), and the highest paying industries were Transportation & Warehousing, & Utilities ($66,429), Transportation & Warehousing ($66,369), and Agriculture, Forestry, Fishing & Hunting, & Mining ($65,000).

Employment

Occupations

143

2024 Value

± 79

−18.3%

1 Year decline

± 87.8%

From 2023 to 2024, employment in Panama, IA declined at a rate of −18.3%, from 175 employees to 143 employees.

The most common job groups, by number of people living in Panama, IA, are Office & Administrative Support Occupations (31 people), Business & Financial Operations Occupations (21 people), and Production Occupations (20 people). This chart illustrates the share breakdown of the primary jobs held by residents of Panama, IA.

Unemployment Insurance Claims

Data is only available at the state level. Showing data for Iowa.

This chart shows weekly unemployment insurance claims in Iowa (not-seasonally adjusted) compared with the four states with the most similar impact.

The most recent data point uses Advance State Claims data, which can be revised in subsequent weeks.

Industries

Employment by Industries

143

2024 Value

± 79

−18.3%

1 Year decline

± 87.8%

From 2023 to 2024, employment in Panama, IA declined at a rate of −18.3%, from 175 employees to 143 employees.

The most common employment sectors for those who live in Panama, IA, are Transportation & Warehousing (61 people), Accommodation & Food Services (20 people), and Health Care & Social Assistance (16 people). This chart shows the share breakdown of the primary industries for residents of Panama, IA, though some of these residents may live in Panama, IA and work somewhere else. Census data is tagged to a residential address, not a work address.

Median Earnings by Industry

$73,542

Median earning men ± $46,348

$42,500

Median earning women ± $30,506

The industries with the best median earnings for men in 2024 are Transportation & Warehousing, & Utilities ($111,250), Other Services Except Public Administration ($92,917), and Agriculture, Forestry, Fishing & Hunting, & Mining ($65,000).

The industries with the best median earnings for women in 2024 are Transportation & Warehousing, & Utilities ($65,833), Educational Services, & Health Care & Social Assistance ($51,250), and Other Services Except Public Administration ($21,875).

Housing & Living

The median property value in Panama, IA was $142,200 in 2024, which is 0.427 times smaller than the national average of $332,700. Between 2023 and 2024 the median property value increased from $121,600 to $142,200, a 16.9% increase. The homeownership rate in Panama, IA is 77%, which is higher than the national average of 65.2%.

People in Panama, IA have an average commute time of 17.5 minutes, and they drove alone to work. Car ownership in Panama, IA is higher than the national average, with an average of 5 cars per household.

Housing

Property

$142,200

Median Property Value 2024

±$64,614

$87

Median Property Taxes

±$43

The following chart display owner-occupied housing units distributed between a series of property tax buckets compared to the national averages for each bucket. In Panama, IA the largest share of households pay taxes in the $800 - $1,499 range.

The chart underneath the paragraph shows the property taxes in Panama, IA compared to it's parent and neighbor geographies.

Rent vs Own

77%

Homeownership

2024

59.6%

Homeowners with Mortgage

2024

In 2024, 77% of the housing units in Panama, IA were occupied by their owner. This percentage grew from the previous year's rate of 76.6%.

This chart shows the percentage of owner in Panama, IA compared it's parent and neighboring geographies.

Equity

Household Income

Please note that the buckets used in this visualization were not evenly distributed by ACS when publishing the data.

$63,125

Median Household Income

± $62,459

113

Number of Households

± 53

In 2024, the median household income of the 113 households in Panama, IA grew to $63,125 from the previous year's value of $61,250.

The following chart displays the households in Panama, IA distributed between a series of income buckets compared to the national averages for each bucket. The largest share of households have an income in the $200k+ range.

Wage Distribution

The closest comparable wage GINI for Panama, IA is from Iowa.

0.435

2024 Wage GINI in Iowa

0.441

2023 Wage GINI in Iowa

In 2024, the income inequality in Iowa was 0.435 according to the GINI calculation of the wage distribution. Income inequality had a 1.29% decline from 2023 to 2024, which means that wage distribution grew somewhat more even. The GINI for Iowa was lower than than the national average of 0.474. In other words, wages are distributed more evenly in Iowa in comparison to the national average.

This chart shows the number of workers in Iowa across various wage buckets compared to the national average.

Transportation

Commuter Transportation

Most Common Commute in 2024

Drove Alone (81.1%)
Walked (14%)
Worked At Home (3.5%)

In 2024, 81.1% of workers in Panama, IA drove alone to work, followed by those who walked to work (14%) and those who worked at home (3.5%).

The following chart shows the number of households using each mode of transportation over time, using a logarithmic scale on the y-axis to help better show variations in the smaller means of commuting.

Commute Time

17.5 minutes

Average Travel Time

Using averages, employees in Panama, IA have a shorter commute time (17.5 minutes) than the normal US worker (26.4 minutes). Additionally, 3.62% of the workforce in Panama, IA have "super commutes" in excess of 90 minutes.

The chart below shows how the median household income in Panama, IA compares to that of it's neighboring and parent geographies.

Car Ownership

5 cars

Average Number

The following chart displays the households in Panama, IA distributed between a series of car ownership buckets compared to the national averages for each bucket. The largest share of households in Panama, IA have 5 cars.

Poverty

Poverty & Diversity

7.38% of the population for whom poverty status is determined in Panama, IA (18 out of 244 people) live below the poverty line, a number that is lower than the national average of 12.5%. The largest demographic living in poverty are Females 18 - 24, followed by Males 18 - 24 and then Females 65 - 74.

The most common racial or ethnic group living below the poverty line in Panama, IA is White, followed by Two Or More and Black.

The Census Bureau uses a set of money income thresholds that vary by family size and composition to determine who classifies as impoverished. If a family's total income is less than the family's threshold than that family and every individual in it is considered to be living in poverty.

Social Needs

Data only available at the state level.

Most prevalent states

California
35,798 individuals
New York
5,087 individuals

In 2017, California had the highest estimated number of chronically homeless individuals in the nation, at 35,798, followed by New York (5,087).

The following map shows the estimated number of chronically homeless individuals by state over multiple years.

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