Panama Flag

Panama

County Seat:
No
Area (mi²):
0.365
State:
Illinois

Panama is a village located in Montgomery County, Illinois. Panama has a 2026 population of 318. Panama is currently declining at a rate of -0.31% annually and its population has decreased by -2.45% since the most recent census, which recorded a population of 326 in 2020.

The median household income in Panama is $72,917 with a poverty rate of 9.52%. The median age in Panama is 40.3 years: 36 years for males, and 45.7 years for females. For every 100 females there are 94.4 males.

318
Total Population
872
Density (mi²)
-1 -0.31%
Growth

Panama Population

Panama Population

Data after 2023 is projected based on recent change

Year ↓
Population
Growth
Annual Change
2026318-1-0.31%
2025319-2-0.62%
202432100%
2023321-1-0.31%
2022322-2-0.62%
2021324-2-0.61%
2020326-1-0.31%
2019315-4-1.25%
2018319-2-0.62%
2017321-1-0.31%
2016322-3-0.92%
2015325-5-1.52%
2014330-5-1.49%
201333510.3%
2012334-3-0.89%
2011337-6-1.75%
201033900%

Median Age

Overall: 40.3 years
Female: 45.7 years
Male: 36 years

Panama Adults

There are 297 adults, (63 of whom are seniors) in Panama.

Sex Ratio

Female: 216 (51.4%)
Male: 204 (48.6%)

Demographics

The racial composition of Panama includes 73.81% White, and smaller percentages for Native American, other race and multiracial populations.

Population by Race

Race
Population ↓
Percentage (of total)
White31073.81%
Two or more races10124.05%
Native American81.9%
Other race10.24%
Race
Population ↓
Percentage (of total)
Two or more races419.76%
Other race10.24%
Race
Population ↓
Percentage (of total)
White31073.81%
Two or more races6014.29%
Native American81.9%

Panama Marital Status

Economics and Income Statistics

Panama 's average per capita income is $43,750. Household income levels show a median of $72,917. The poverty rate stands at 9.52%.

Families: A family includes the owner or renter of the home along with everyone related to them - whether through birth, marriage, or adoption. This includes relatives like spouses, children, parents, siblings, grandparents, and any other family members.
Households: A household includes all the people who occupy a housing unit (such as a house or apartment) as their usual place of residence.
Non Families: A nonfamily household is either someone living alone or when the owner/renter lives with people they aren't related to, like roommates.
Name
Median ↓
Mean
Married Families$82,917-
Families$82,583$82,148
Households$72,917$70,553
Non Families$29,375$38,489

$43,750

Average Income

$72,917

Median Household Income

9.52%

Poverty Rate

Nearby Cities

Sources

  1. US Census State Population Estimates - Most recent state estimates from the Census Bureau's Population Estimates Program
  2. US Census County Population Estimates - Most recent county estimates from the Census Bureau's Population Estimates Program
  3. American Community Survey (2009 - 2013)
  4. Census QuickFacts
  5. Historical Populations of States and Counties (1790 - 1990)