Panama, Illinois Population 2022

310
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Panama is a city located in Montgomery County Illinois. Panama has a 2020 population of 310. Panama is currently declining at a rate of -0.96% annually and its population has decreased by -9.62% since the most recent census, which recorded a population of 343 in 2010.

The average household income in Panama is $55,954 with a poverty rate of 10.14%. The median rental costs in recent years comes to $863 per month, and the median house value is $59,300. The median age in Panama is 35.3 years, 32.3 years for males, and 38.3 years for females.

Panama Demographics

According to the most recent ACS, the racial composition of Panamawas:

  • White: 98.65%
  • Two or more races: 1.35%
  • Black or African American: 0.00%
  • Native American: 0.00%
  • Asian: 0.00%
  • Native Hawaiian or Pacific Islander: 0.00%
  • Other race: 0.00%
The current population of Panama, Illinois is 310 based on our projections of the latest US Census estimates. The US Census estimates the 2018 population at 310.The last official US Census in 2010 recorded the population at 343.

Panama, Illinois Population 2022

Population by Race

Race Population Percentage
White29298.65%
Two or More Races41.35%
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Panama Population by Race

Panama Population Pyramid $2022

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Panama Median Age

35.3


Total

32.3


Male

38.3


Female

Panama Adults

There are 236 adults, (71 of whom are seniors) in Panama.

Panama Age Dependency

Age Dependency Ratio

43

Old Age Dependency Ratio

36.4

Child Dependency Ratio

Panama Sex Ratio

Female

140

47.30%

Male

156

52.70%

Panama Population by Age

Panama Renter vs Owner Occupied by Household Type

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Panama Household Types

Type Owner Renter
Male28.6%71.4%
Non Family80.8%19.2%
All84.4%15.6%
Female86.7%13.3%
Married93.4%6.6%

84.4%

Rate of Home Ownership

Panama Households and Families

Type Count Average Size Owned
All1352.1984.4
Married612.9293.4
Non Family521.1380.8
Female15386.7
Male7228.6

2.8

Average Family Size

2.19

Average Household Size

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Panama Households by Type

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Education Attained Count Percentage
Less Than 9th Grade31.38%
9th to 12th Grade198.76%
High School Graduate11753.92%
Some College3516.13%
Associates Degree2310.60%
Bachelors Degree125.53%
Graduate Degree83.69%
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Panama Educational Attainment by Sex (over 25)

Panama Educational Attainment by Race

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Race Total High School Bachelors
White21118919
2+ Races44
Hispanic221

The highest rate of high school graduation is among 2+ races people with a rate of 100.00%.

The highest rate of bachelors degrees is among hispanic people with a rate of 50.00%.

Panama Educational Attainment by Race

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Name Average Male Female
Overall$30,125$41,563$19,063
Less Than 9th Grade$30,781$30,781$
High School Graduate$23,750$40,536$
Some College$40,625$53,929$16,458
Bachelors Degree$$78,750$19,688
Graduate Degree$57,500$$56,250

$30,125

Average Earnings

$41,563

Average Male

$19,063

Average Female

Panama Earnings by Educational Attainment

Panama Language by Age

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Panama Language

97.90% of Panama residents speak only English, while 2.10% speak other languages. The non-English language spoken by the largest group is Spanish, which is spoken by 1.40% of the population.

Panama Language

Panama Poverty by Race

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10.14%

Overall Poverty Rate

6.41%

Male Poverty Rate

14.29%

Female Poverty Rate

Poverty in Panama

The race most likely to be in poverty in Panama is White, with 10.34% below the poverty level.

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

The poverty rate among those that worked full-time for the past 12 months was 1.98%. Among those working part-time, it was 15.69%, and for those that did not work, the poverty rate was 16.28%.

Panama Poverty

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Name Poverty
High School13.68%
Less Than 9th Grade9.09%
Bachelors or Greater0.00%
Some College0.00%

Panama Poverty Rate by Education

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Rate Poverty
Female Unemployed66.67%
Male Unemployed50.00%
Female Employed4.84%
Male Employed0.00%

Panama Poverty Rate by Employment Status and Sex

Panama Income by Household Type

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Name Median Mean
Households$55,089$55,954
Families$63,750$64,967
Married Families$70,179-
Non Families$40,500$37,567
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Income by Household Type

Panama Marital Status

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Marriage Rates

52.1%

Overall Marriage Rate

49.6%

Male Marriage Rate

54.7%

Female Marriage Rate

Panama Married by Age and Sex

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Panama Marriage

The age group where males are most likely to be married is 55-64, while the female age group most likely to be married is 35-44.

Panama Marital Status by Race

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Panama Marital Status

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27

Number of Veterans

Male Veterans

Female Veterans

War Veterans
Vietnam12
Korea2
First Gulf War1
Second Gulf War1
World War II

Panama Veterans by War

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Age Group Veterans
65 to 7411
75+9
55 to 646
35 to 541
18 to 34

Panama Veterans by Age

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Panama Veterans by Race

Panama Veterans by Education

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0.00%

Veteran Poverty Rate

37.04%

Veteran Disability Rate

Panama Veterans by Education

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62.2%

Labor Force Participation

58.4%

Employment Rate

6.1%

Unemployment Rate

Panama Employment by Age

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Panama Employment by Race

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Panama Employment by Education

Origin of Non-Citizens

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

Origin of Naturalized Citizens

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93.24%

Born in Panama

99.66%

Native Born

0.34%

Foreign Born

0.00%

Non Citizen

0.34%

Naturalized

Place of Birth

99.66% of Panama residents were born in the United States, with 93.24% having been born in Illinois. 0.00% 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: 2021 and 2022 data is projected
Year Population Growth Annual Growth Rate
2022310-3-0.96%
2021313-3-0.95%
2020316-3-0.94%
2019319-3-0.93%
2018322-1-0.31%
2017323-3-0.92%
2016326-5-1.51%
2015331-3-0.90%
2014334-4-1.18%
2013338-2-0.59%
2012340-1-0.29%
2011341-2-0.58%
20103430.00%

Panama Population by Year