The Village of Panama had a population of 343 as of July 1, 2020. 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.
|Total Population||343 (100%)|
|Population in Households||216 (63.0%)|
|Population in Families||176 (51.3%)|
|Population in Group Quarters1||127 (37.0%)|
|Median Household Income||$60,092|
|Average Household Income||$69,111|
|% of Income for Mortgage4||7%|
|Per Capita Income||$17,387|
|Total HU (Housing Units)||185 (100%)|
|Owner Occupied HU||134 (72.4%)|
|Renter Occupied HU||27 (14.6%)|
|Vacant Housing Units||24 (13.0%)|
|Median Home Value||$93,182|
|Average Home Value||$117,481|
|Housing Affordability Index3||350|
|Average Household Size||1.34|
|Average Family Size||2|
GROWTH RATE / YEAR
|Median Household Income||-0.03%|
|Per Capita Income||0.68%|
|Owner Occupied HU||-0.15%|
The table below compares Panama to the other 1,369 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2020 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.
|Total Population||# 1046||24th|
|Population Density||# 785||43rd|
|Median Household Income||# 591||57th|
|Housing Affordability Index||# 1367||100th|
|Per Capita Income||# 1338||2nd|
|Diversity Index||# 298||78th|
Additional comparisons and rankings can be made with a VERY EASY TO USE Illinois Census Data Comparison Tool.