Panama is a village located in Montgomery County Illinois. Panama has a 2024 population of 325. Panama is currently declining at a rate of -0.61% annually and its population has decreased by -2.11% since the most recent census, which recorded a population of 332 in 2020.
The average household income in Panama is $62,182 with a poverty rate of 5.99%. The median age in Panama is 48.2 years: 52.5 years for males, and 45.5 years for females.
According to the most recent ACS, the racial composition of Panama was:
Race | Population | Percentage (of total) |
|---|---|---|
| White | 316 | 99.68% |
| Other race | 1 | 0.32% |
| Black or African American | 0 | 0% |
| Native American | 0 | 0% |
| Asian | 0 | 0% |
| Native Hawaiian or Pacific Islander | 0 | 0% |
| Two or more races | 0 | 0% |
White
Other race
Black or African American
Native American
Asian
Native Hawaiian or Pacific Islander
Two or more races
Household Type | Count | Average Size | Owner | Renter |
|---|---|---|---|---|
| All | 136 | 2.33 | 85.3 | 14.7 |
| Married | 63 | 3.02 | 76.2 | 23.8 |
| Non Family | 45 | 1.16 | 95.6 | 4.4 |
| Female | 16 | 3 | 93.8 | 6.3 |
| Male | 12 | 2.25 | 83.3 | 16.7 |
2.82
Average Family Size
2.33
Average Household Size
85.3%
Rate of Home Ownership
Married
Male
Female
NonFamily
owner
renter
Male
Female
Education Attained | Count | Percentage |
|---|---|---|
| 9th to 12th Grade | 38 | 15.45% |
| Associates Degree | 24 | 9.76% |
| Bachelors Degree | 10 | 4.07% |
| Graduate Degree | 7 | 2.85% |
| High School Graduate | 137 | 55.69% |
| Less Than 9th Grade | 4 | 1.63% |
| Some College | 26 | 10.57% |
Less Than 9th Grade
9th to 12th Grade
High School Graduate
Some College
Associates Degree
Bachelors Degree
Graduate Degree
High School Graduation Rate
Bachelors Rate
Race | Total | High School | Bachelors |
|---|---|---|---|
| White | 245 | 203 | 17 |
| Other Race | 1 | 1 | 0 |
| Hispanic | 1 | 1 | 0 |
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 6.94%.
All
Male
Female
Name | Average | Male | Female |
|---|---|---|---|
| Bachelors Degree | $24,167 | $0 | $0 |
| Graduate Degree | $64,583 | $63,750 | $68,750 |
| High School Graduate | $38,750 | $48,750 | $16,458 |
| Less Than 9th Grade | $53,438 | $53,438 | $0 |
| Overall | $43,056 | $48,542 | $23,333 |
| Some College | $45,938 | $0 | $0 |
$43,056
Average Earnings
$48,542
Average Male
$23,333
Average Female
Only English
Spanish
Other Indo-European Languages
Asian and Pacific Island Languages
Other Languages
98.97% of Panama residents speak only English, while 1.03% speak other languages. The non-English language spoken by the largest group is Spanish, which is spoken by 1.03% of the population.
rate
Name | Total | In Poverty | Poverty Rate |
|---|---|---|---|
| White | 316 | 19 | 6.01% |
5.99%
Overall Poverty Rate
4.69%
Male Poverty Rate
6.88%
Female Poverty Rate
The race most likely to be in poverty in Panama is White, with 6.01% below the poverty level.
The race least likely to be in poverty in Panama is White, with 6.01% 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 1.64%, and for those that did not work, the poverty rate was 15.84%.
rate
Rate | Poverty |
|---|---|
| Less Than 9th Grade | 9.52% |
| High School | 9.49% |
| Some College | 0% |
| Bachelors or Greater | 0% |
rate
Rate | Poverty |
|---|---|
| Female Employed | 2.86% |
| Male Employed | 0% |
| Male Unemployed | 0% |
| Female Unemployed | 0% |
Households
Families
MarriedFamilies
NonFamilies
Name | Median | Mean |
|---|---|---|
| Families | $66,250 | $73,825 |
| Households | $59,643 | $62,182 |
| Married Families | $68,750 | $-999,999,999 |
| Non Families | $40,417 | $37,218 |
mean
median
Married
Widowed
Divorced
Separated
NeverMarried
52.7%
Overall Marriage Rate
58.8%
Male Marriage Rate
47.9%
Female Marriage Rate
male
female
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.
Married
Widowed
Divorced
Separated
NeverMarried
Second Gulf War
First Gulf War
Vietnam
Korea
World War II
30
Number of Veterans
28
Male Veterans
2
Female Veterans
War | Veterans |
|---|---|
| Vietnam | 9 |
| First Gulf War | 3 |
| World War II | 2 |
| Second Gulf War | 1 |
| Korea | 0 |
count
Age Group | Veterans |
|---|---|
| 55 to 64 | 17 |
| 75+ | 7 |
| 65 to 74 | 6 |
| 18 to 34 | 0 |
| 35 to 54 | 0 |
count
Name | Veterans | % of Total |
|---|---|---|
| White | 30 | 11.72% |
Less Than 9th Grade
High School Graduate
Some College
Bachelors or Greater
6.67%
Veteran Poverty Rate
30%
Veteran Disability Rate
LaborForceParticipation
58.9%
Labor Force Participation
53.9%
Employment Rate
8.6%
Unemployment Rate
LaborForceParticipation
LaborForceParticipation
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.
Europe
Asia
Africa
Oceania
Latin America
North America
89.27%
Born in Panama
99.68%
Native Born
0.32%
Foreign Born
0.32%
Non Citizen
0%
Naturalized
99.68% of Panama residents were born in the United States, with 89.27% having been born in Illinois. 0.32% of residents are not US citizens. Of those not born in the United States, the largest percentage are from Latin America.
Year | Population | Growth | Change |
|---|---|---|---|
| 2029 | 316 | -2 | -0.63% |
| 2028 | 318 | -2 | -0.62% |
| 2027 | 320 | -1 | -0.31% |
| 2026 | 321 | -2 | -0.62% |
| 2025 | 323 | -2 | -0.62% |
| 2024 | 325 | -2 | -0.61% |
| 2023 | 327 | -1 | -0.3% |
| 2022 | 328 | -2 | -0.61% |
| 2021 | 330 | -2 | -0.6% |
| 2020 | 332 | 17 | 5.4% |
| 2019 | 315 | -4 | -1.25% |
| 2018 | 319 | -2 | -0.62% |
| 2017 | 321 | -1 | -0.31% |
| 2016 | 322 | -3 | -0.92% |
| 2015 | 325 | -5 | -1.52% |
| 2014 | 330 | -5 | -1.49% |
| 2013 | 335 | 1 | 0.3% |
| 2012 | 334 | -3 | -0.89% |
| 2011 | 337 | -2 | -0.59% |
| 2010 | 339 | 0 | 0% |