Panama, Illinois Population 2024

325

Panama Demographics

According to the most recent ACS, the racial composition of Panama was:

  • White: 99.08%
  • Two or more races: 0.61%
  • Other race: 0.31%
  • Black or African American: 0%
  • Native American: 0%
  • Asian: 0%
  • Native Hawaiian or Pacific Islander: 0%
Land Area (mi²)
0.4 sq mi
Density (mi²)
891.10/sq mi
Growth Since 2020
-2.11% (-7)
The current population of Panama, Illinois is 325 based on our projections of the latest US Census estimates (released May 2024). The last official US Census in 2020 recorded the population at 332.

Population by Race

Race
Population
Percentage (of total)
White32499.08%
Two or more races20.61%
Other race10.31%
Black or African American00%
Native American00%
Asian00%
Native Hawaiian or Pacific Islander00%

White

Two or more races

Other race

Black or African American

Native American

Asian

Native Hawaiian or Pacific Islander

Panama Population by Race

Panama Population Pyramid 2024

Panama Median Age

48.5

Total

52.3

Male

48

Female

Panama Adults

There are 261 adults, (60 of whom are seniors) in Panama.

Panama Age Dependency

62.7

Age Dependency Ratio

29.9

Old Age Dependency Ratio

32.8

Child Dependency Ratio

Panama Sex Ratio

Female19258.72%
Male13541.28%

Panama Population by Age

Panama Renter vs Owner Occupied by Household Type

Household Type
Count
Average Size
Owner
Renter
All1492.1985.914.1
Married662.8877.322.7
Non Family511.1692.27.8
Female172.5994.15.9
Male152.2793.36.7

2.67

Average Family Size

2.19

Average Household Size

85.9%

Rate of Home Ownership

Married

Male

Female

NonFamily

owner

renter

Panama Households and Families

Male

Female

Education Attained
Count
Percentage
9th to 12th Grade4216.6%
Associates Degree2911.46%
Bachelors Degree155.93%
Graduate Degree41.58%
High School Graduate12850.59%
Less Than 9th Grade31.19%
Some College3212.65%

Less Than 9th Grade

9th to 12th Grade

High School Graduate

Some College

Associates Degree

Bachelors Degree

Graduate Degree

Panama Educational Attainment by Sex (over 25)

Panama Educational Attainment by Race

High School Graduation Rate

Bachelors Rate

Race
Total
High School
Bachelors
White25220719
Other Race110
Hispanic110

The highest rate of high school graduation is among other race people with a rate of 100%.

The highest rate of bachelors degrees is among white people with a rate of 7.54%.

Panama Educational Attainment by Race

All

Male

Female

Name
Average
Male
Female
Bachelors Degree$32,813$33,125$0
Graduate Degree$68,750$0$0
High School Graduate$43,594$50,455$16,750
Less Than 9th Grade$53,438$53,438$0
Overall$47,583$49,861$26,667
Some College$49,038$49,821$0

$47,583

Average Earnings

$49,861

Average Male

$26,667

Average Female

Panama Earnings by Educational Attainment

Panama Language by Age

Only English

Spanish

Other Indo-European Languages

Asian and Pacific Island Languages

Other Languages

Panama Language

97.4% of Panama residents speak only English, while 2.6% speak other languages. The non-English language spoken by the largest group is Other Indo-European, which is spoken by 1.95% of the population.

Panama Language

Panama Poverty by Race

rate

Name
Total
In Poverty
Poverty Rate
White324319.57%

9.48%

Overall Poverty Rate

10.37%

Male Poverty Rate

8.85%

Female Poverty Rate

Poverty in Panama

The race most likely to be in poverty in Panama is White, with 9.57% below the poverty level.

The race least likely to be in poverty in Panama is White, with 9.57% below the poverty level.

The poverty rate among those that worked full-time for the past 12 months was 1.04%. Among those working part-time, it was 1.89%, and for those that did not work, the poverty rate was 18.42%.

Panama Poverty

rate

Rate
Poverty
High School14.84%
Less Than 9th Grade6.67%
Some College0%
Bachelors or Greater0%

Panama Poverty Rate by Education

rate

Rate
Poverty
Male Unemployed16.67%
Female Employed3.45%
Male Employed0%
Female Unemployed0%

Panama Poverty Rate by Employment Status and Sex

Panama Income by Household Type

Households

Families

MarriedFamilies

NonFamilies

Name
Median
Mean
Families$60,962$67,240
Households$60,096$58,548
Married Families$61,346$-999,999,999
Non Families$29,375$39,241

mean

median

Income by Household Type

Panama Marital Status

Married

Widowed

Divorced

Separated

NeverMarried

Marriage Rates

52.8%

Overall Marriage Rate

58.5%

Male Marriage Rate

47.9%

Female Marriage Rate

Panama Married by Age and Sex

male

female

Panama Marriage

The age group where males are most likely to be married is 35-44, while the female age group most likely to be married is 35-44.

Panama Marital Status by Race

Married

Widowed

Divorced

Separated

NeverMarried

Panama Marital Status

Second Gulf War

First Gulf War

Vietnam

Korea

World War II

33

Number of Veterans

31

Male Veterans

2

Female Veterans

War
Veterans
Vietnam5
First Gulf War2
World War II2
Second Gulf War1
Korea0

Panama Veterans by War

count

Age Group
Veterans
55 to 6424
75+6
65 to 743
18 to 340
35 to 540

Panama Veterans by Age

count

Name
Veterans
% of Total
White3312.79%

Panama Veterans by Race

Panama Veterans by Education

Less Than 9th Grade

High School Graduate

Some College

Bachelors or Greater

6.06%

Veteran Poverty Rate

24.24%

Veteran Disability Rate

Panama Veterans by Education

LaborForceParticipation

54.8%

Labor Force Participation

47.9%

Employment Rate

12.5%

Unemployment Rate

Panama Employment by Age

LaborForceParticipation

Panama Employment by Race

LaborForceParticipation

Panama Employment by Education

Origin of Non-Citizens

Europe

Asia

Africa

Oceania

Latin America

North America

Non citizens include legal permanent residents (green card holders), international students, temporary workers, humanitarian migrants, and illegal immigrants.

Origin of Naturalized Citizens

Europe

Asia

Africa

Oceania

Latin America

North America

85.63%

Born in Panama

99.69%

Native Born

0.31%

Foreign Born

0.31%

Non Citizen

0%

Naturalized

Place of Birth

99.69% of Panama residents were born in the United States, with 85.63% having been born in Illinois. 0.31% of residents are not US citizens. Of those not born in the United States, the largest percentage are from Latin America.

Panama Place of Birth

Note: data after 2022 is projected based on recent change
Year
Population
Growth
Change
2029316-2-0.63%
2028318-2-0.62%
2027320-1-0.31%
2026321-2-0.62%
2025323-2-0.62%
2024325-2-0.61%
2023327-1-0.3%
2022328-2-0.61%
2021330-2-0.6%
2020332175.4%
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%
2011337-2-0.59%
201033900%

Panama Population by Year