Panama, IL Profile: Facts, Map & Data

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Panama, Illinois - Basic Facts

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The Village of Panama had a population of 339 as of July 1, 2016. Panama ranks in the upper quartile for Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in Illinois. See peer rankings below.

The primary coordinate point for Panama is located at latitude 39.0293 and longitude -89.5244 in Bond County. The formal boundaries for the Village of Panama (see map below) encompass a land area of 0.36 sq. miles and a water area of 0 sq. miles. Bond County is in the Central time zone (GMT -6). The elevation is 594 feet.

While the primary coordinates for Village of Panama are located in Bond County, it should be noted that the formal boundaries for this community also extend into and Montgomery County.

The Village of Panama (GNIS ID: ) has a P1 Census Class Code which indicates populated place that is also an incorporated place with the same name and the same census code. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Panama is located within Township of Grisham, a minor civil division (MCD) of Bond County.

Beneath the boundary map are tables with Panama population, income and housing data, five-year growth projections and peer comparisons for key demographic data. The estimates are for July 1, 2016.


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Village of Panama, IL Boundary Map



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Boundary Maps: Township of Grisham | Bond County | Illinois Counties

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Panama, IL Data & Demographics (As of July 1, 2016)

POPULATION

Total Population 339
Population in Households 213
Population in Familes 174
Population in Group Qrtrs 126
Population Density1 943
Diversity Index2 36
 

HOUSEHOLDS

Total Households 159
Average Household Size 1.34
Family Households 107
Average Family Size 2

HOUSING

Total Housing Units 177 (100%)
Owner Occupied HU 131 (74.0%)
Renter Occupied HU 28 (15.8%)
Vacant Housing Units 18 (10.2%)
Median Home Value $79,167
Average Home Value $103,077
 

INCOME

Median Household Income $42,962
Average Household Income $53,791
Per Capita Income $16,385
  (Compound Annual Growth Rates)

GROWTH RATES

2010-2015 2015-2020
Population -0.19% -0.24%
Households 0.1% -0.13%
Families 1.58% -0.19%
Median Household Income   0.78%
Per Capita Income   0.84%
1) Population Density = Total Population per square mile.
2) The Diversity Index is a scale of 0 to 100 that represents the likelyhood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
Based on Census 2010 counts, the Diversity Index for the United States was 60.6 and it is expected to increase to 64.8 by July 1, 2018.

Panama, IL - Peer Comparisons by Rank and Percentile

The table below compares Panama to the other 1,368 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2016 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 1056 23rd
Population Density1 # 792 42nd
Diversity Index2 # 283 79th
Median Household Income # 1026 25th
Per Capita Income # 1336 2nd

Additional comparisons and rankings can be made with a VERY EASY TO USE Illinois Census Data Comparison Tool.