In 2021, Panama, IL had a population of 246 people with a median age of 54.3 and a median household income of $56,875. Between 2020 and 2021 the population of Panama, IL grew from 221 to 246, a 11.3% increase and its median household income grew from $55,114 to $56,875, a 3.2% increase.
The 5 largest ethnic groups in Panama, IL are White (Non-Hispanic) (99.2%), Other (Hispanic) (0.407%), Two+ (Non-Hispanic) (0.407%), White (Hispanic) (0%), and Black or African American (Non-Hispanic) (0%).
None of the households in Panama, IL reported speaking a non-English language at home as their primary shared language. This does not consider the potential multi-lingual nature of households, but only the primary self-reported language spoken by all members of the household.
99.6% of the residents in Panama, IL are U.S. citizens.
In 2021, the median property value in Panama, IL was $58,100, and the homeownership rate was 89.4%.
Most people in Panama, IL drove alone to work, and the average commute time was 34.8 minutes. The average car ownership in Panama, IL was 2 cars per household.