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 340 as of July 1, 2017. 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, 2017.

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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, 2017)


Total Population 340
Daytime Population: Workers 11
Daytime Population: Residents 267
Total Daytime Population (TDP) 278
Ratio TDP/Total Population1 0.82
Population in Households 220
Population in Familes 180
Population in Group Qrtrs 120
Population Density2 946
Diversity Index3 36


Median Household Income $49,543
Average Household Income $60,258
Per Capita Income $17,995


Total Housing Units 177 (100%)
Owner Occupied HU 130 (73.4%)
Renter Occupied HU 28 (15.8%)
Vacant Housing Units 19 (10.7%)
Median Home Value $78,846
Average Home Value $104,724


Total Households 158
Average Household Size 1.39
Family Households 106
Average Family Size 2
  1. If the ratio of the TDP to Total Population is greater than 1, the location gains population during the day when commuting workers are present. If the ratio is less than 1, the location is more of a bedroom community where people commute to another place for work.
  2. Population Density = Total Population per square mile.
  3. The Diversity Index is a scale of 0 to 100 that represents the likelihood 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.


2010-2017 2017-2022
Population -0.12% -0.36%
Households 0.0% -0.38%
Families 1.23% -0.38%
Median Household Income   2.47%
Per Capita Income   2.64%

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, 2017 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 # 1052 23rd
Population Density # 783 43rd
Diversity Index # 285 79th
Median Household Income # 862 37th
Per Capita Income # 1319 4th

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

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