Panama, IL Profile: Facts & Data


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Panama, Illinois - Basic Facts

The Village of Panama had a population of 337 as of July 1, 2018. 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 39.0295 and longitude -89.5243 in Bond County. The formal boundaries for the Village of Panama 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.

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  1. Panama 2018 Demographic Data
  2. Growth Rates for Panama (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Illinois Research Tools (Easy Tools & Current Data)
  3. Illinois Data Comparison Tool - 2018 Demographics

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Panama, IL Data & Demographics (As of July 1, 2018)


Total Population 337
Population in Households 209
Population in Familes 172
Population in Group Qrtrs 128
Population Density2 938
Diversity Index3 37


Median Household Income $47,780
Average Household Income $59,585
Per Capita Income $17,648


Total Housing Units 178 (100%)
Owner Occupied HU 129 (72.5%)
Renter Occupied HU 27 (15.2%)
Vacant Housing Units 21 (11.8%)
Median Home Value $85,000
Average Home Value $119,231


Total Households 157
Average Household Size 1.33
Family Households 105
Average Family Size 2
  1. Demographics are point estimates for July 1st of the current year and each for the forecast years. See References for more information.
  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.


2010-2018 2018-2023
Population -0.21% -0.42%
Households -0.08% -0.51%
Families 0.97% -0.58%
Median Household Income   2.27%
Per Capita Income   2.17%

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, 2018 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 Density # 788 42nd
Diversity Index # 285 79th
Median Household Income # 949 31st
Per Capita Income # 1336 2nd

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

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Illinois Census Data Comparison Tool

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