Panama

County:: Shelby County
County Seat:: No
Area (mi²):: 0.29
State:: Iowa

Panama is a city located in Shelby County, Iowa. Panama has a 2025 population of 237. Panama is currently declining at a rate of 0% annually and its population has decreased by 0% since the most recent census, which recorded a population of 237 in 2020.

The average household income in Panama is $94,444 with a poverty rate of 4.26%.The median age in Panama is 36.8 years: 36.5 years for males, and 38.2 years for females.

Demographics

The racial composition of Panama includes 89.05% White, and smaller percentages for other race, Native American and multiracial populations.

Population by Race

Race	Population	Percentage (of total)
White	252	89.05%
Two or more races	24	8.48%
Other race	5	1.77%
Native American	2	0.71%

Panama Marital Status

Married

Widowed

Divorced

Separated

Never Married

Economics and Income Statistics

Panama's average per capita income is $52,500. Household income levels show a median of $61,250. The poverty rate stands at 4.26%.

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	$126,875	-
Families	$126,458	$141,872
Households	$61,250	$94,444
Non Families	$36,823	$41,966

$52,500

Average Income

$61,250

Median Household Income

4.26%

Poverty Rate