Panama, IL

Census Place

2024 Population

420

US Senator

Dick Durbin

Democratic Party

US Senator

Tammy Duckworth

Democratic Party

2024 Median Age

40.3

16.9% 1-year decrease

2024 Poverty Rate

9.52%

0.461% 1-year increase

2024 Median Household Income

$72,917

21.3% 1-year growth

2024 Median Property Value

$54,700

Population & Diversity

Panama, IL is home to a population of 420 people, from which 99.8% are citizens.

As of 2024, 0.714% of Panama, IL residents were born outside of the country (3 people).

In 2024, there were 5.17 times more White (Non-Hispanic) residents (310 people) in Panama, IL than any other race or ethnicity. There were 60 Two Races Excluding Other, & Three or More Races (Non-Hispanic) and 41 Two Races Including Other (Hispanic) residents, the second and third most common ethnic groups.

Population & Diversity

Citizenship

99.8%

2024 Citizenship

99.7%

2023 Citizenship

As of 2024, 99.8% of Panama, IL residents were US citizens, which is higher than the national average of 93.2%. In 2023, the percentage of US citizens in Panama, IL was 99.7%, meaning that the rate of citizenship has been increasing.

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

Diversity

Race and Ethnicity

The 3 largest ethnic groups in Panama, IL

White (Non-Hispanic)
310 ± 79
Two Races Excluding Other, & Three or More Races (Non-Hispanic)
60 ± 81
Two Races Including Other (Hispanic)
41 ± 74

10%

Hispanic Population

42 people

10% of the people in Panama, IL are hispanic (42 people).

The following chart shows the 8 races represented in Panama, IL 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 Illinois.

Most Common Origin

Mexico
637,284 ± 19,101 people
India
166,788 ± 9,961 people
Poland
117,148 ± 8,364 people

In 2024, the most common birthplace for the foreign-born residents of Illinois was Mexico, the natal country of 637,284 Illinois residents, followed by India with 166,788 and Poland with 117,148.

Foreign-Born Population

0.714%

2024 Foreign-Born Population

3 people

0.306%

2023 Foreign-Born Population

1 people

As of 2024, 0.714% of Panama, IL residents (3 people) were born outside of the United States, which is approximately the same as the national average of 14%. In 2023, the percentage of foreign-born citizens in Panama, IL was 0.306%, meaning that the rate has been increasing.

The following chart shows the percentage of foreign-born residents in Panama, IL compared to that of it's neighboring and parent geographies.

Military

Veterans

Most Common Service Period

Gulf War (1990s)
3 ± 4
Vietnam
2 ± 19
World War II
2 ± 2

Panama, IL has a large population of military personnel who served in Gulf War (1990s), 1.5 times greater than any other conflict.

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

Economy

The economy of Panama, IL employs 171 people. In 2024, the largest industries in Panama, IL were Health Care & Social Assistance (61 people), Retail Trade (20 people), and Manufacturing (18 people), and the highest paying industries were Manufacturing ($92,500), Construction ($76,250), and Professional, Scientific, & Management, & Administrative & Waste Management Services ($74,028).

Employment

Occupations

171

2024 Value

± 81

35.7%

1 Year growth

± 53.1%

From 2023 to 2024, employment in Panama, IL grew at a rate of 35.7%, from 126 employees to 171 employees.

The most common job groups, by number of people living in Panama, IL, are Healthcare Support Occupations (32 people), Construction & Extraction Occupations (26 people), and Health Technologists & Technicians (18 people). This chart illustrates the share breakdown of the primary jobs held by residents of Panama, IL.

Unemployment Insurance Claims

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

This chart shows weekly unemployment insurance claims in Illinois (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

171

2024 Value

± 81

35.7%

1 Year growth

± 53.1%

From 2023 to 2024, employment in Panama, IL grew at a rate of 35.7%, from 126 employees to 171 employees.

The most common employment sectors for those who live in Panama, IL, are Health Care & Social Assistance (61 people), Retail Trade (20 people), and Manufacturing (18 people). This chart shows the share breakdown of the primary industries for residents of Panama, IL, though some of these residents may live in Panama, IL and work somewhere else. Census data is tagged to a residential address, not a work address.

Median Earnings by Industry

$73,750

Median earning men ± $31,408

$17,917

Median earning women ± $6,259

The industries with the best median earnings for men in 2024 are Manufacturing ($100,179), Construction ($76,250), and Wholesale Trade ($53,250).

The industries with the best median earnings for women in 2024 are Retail Trade ($23,750) and Educational Services, & Health Care & Social Assistance ($15,536).

Housing & Living

The median property value in Panama, IL was $54,700 in 2024, which is 0.164 times smaller than the national average of $332,700. Between 2023 and 2024 the median property value increased from $60,800 to $54,700, a 10% decrease. The homeownership rate in Panama, IL is 92.4%, which is higher than the national average of 65.2%.

People in Panama, IL have an average commute time of 29.8 minutes, and they drove alone to work. Car ownership in Panama, IL is approximately the same as the national average, with an average of 2 cars per household.

Housing

Property

$54,700

Median Property Value 2024

±$13,000

$159

Median Property Taxes

±$49

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, IL the largest share of households pay taxes in the < $800 range.

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

Rent vs Own

92.4%

Homeownership

2024

59.6%

Homeowners with Mortgage

2024

In 2024, 92.4% of the housing units in Panama, IL were occupied by their owner. This percentage grew from the previous year's rate of 85.9%.

This chart shows the percentage of owner in Panama, IL 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.

$72,917

Median Household Income

± $19,365

172

Number of Households

± 51

In 2024, the median household income of the 172 households in Panama, IL grew to $72,917 from the previous year's value of $60,096.

The following chart displays the households in Panama, IL 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 $75k - $100k range.

Wage Distribution

The closest comparable wage GINI for Panama, IL is from Illinois.

0.471

2024 Wage GINI in Illinois

0.474

2023 Wage GINI in Illinois

In 2024, the income inequality in Illinois was 0.471 according to the GINI calculation of the wage distribution. Income inequality had a 0.55% decline from 2023 to 2024, which means that wage distribution grew somewhat more even. The GINI for Illinois was lower than than the national average of 0.474. In other words, wages are distributed more evenly in Illinois in comparison to the national average.

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

Transportation

Commuter Transportation

Most Common Commute in 2024

Drove Alone (67.1%)
Worked At Home (16.5%)
Carpooled (15.9%)

In 2024, 67.1% of workers in Panama, IL drove alone to work, followed by those who worked at home (16.5%) and those who carpooled to work (15.9%).

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

29.8 minutes

Average Travel Time

Using averages, employees in Panama, IL have a longer commute time (29.8 minutes) than the normal US worker (26.4 minutes). Additionally, 2.82% of the workforce in Panama, IL have "super commutes" in excess of 90 minutes.

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

Car Ownership

2 cars

Average Number

The following chart displays the households in Panama, IL distributed between a series of car ownership buckets compared to the national averages for each bucket. The largest share of households in Panama, IL have 2 cars.

Poverty

Poverty & Diversity

9.52% of the population for whom poverty status is determined in Panama, IL (40 out of 420 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 65 - 74, followed by Males 65 - 74 and then Males 18 - 24.

The most common racial or ethnic group living below the poverty line in Panama, IL is White, followed by Black and Native American.

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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