Median Income
$69,250
household / year
Median Home Value
$118,800
owner-occupied
Median Rent
N/A
gross / month
Cost of Living
N/A
national avg = 100

Is Panama, IA a Good Place to Live?

Panama is a small town of 247 in Iowa, with a median household income of $69,250 .

Strengths: Panama stands out for below-average home prices, short average commutes.

Trade-offs: No major red flags stand out in the available data. Whether Panama is right for you depends on your priorities — the full breakdown is below.

All Panama city data on this page comes from official government sources — the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.

Cost of Living

Cost of living data is based on the Bureau of Economic Analysis Regional Price Parities for the Panama metro area.

Metric Panama, IA National Avg
Median Home Value $118,800 $244,900
Median Monthly Rent N/A $1,163
Homeownership Rate 93.8% 65.9%
Median Household Income $69,250 $74,755

Crime & Safety

Crime data for Panama is not currently available from the FBI's Uniform Crime Reporting program. Not all local agencies report to the UCR each year.

Schools & Education

Metric Panama, IA National Avg
School District N/A —
Elementary Schools N/A —
Middle Schools N/A —
High Schools N/A —
Student/Teacher Ratio N/A 16:1
Bachelor's Degree or Higher 14.0% 35.4%
High School Diploma or Higher 96.2% 91.1%

Weather & Climate

Panama sees average highs of 30.7°F in January and 85.9°F in July, with 34.3 inches of annual precipitation and 30.5 inches of snow per year.

MetricPanama, IA
Average High — January30.7°F
Average High — July85.9°F
Annual Precipitation34.3"
Annual Snowfall30.5"

Demographics

MetricPanama, IANational Avg
Population247—
Median Age38.238.9
Unemployment Rate0.0%3.7%
Avg Commute Time17.0 min26 min
White (non-Hispanic)96.0%59.3%
Black or African American0.0%13.6%
Hispanic or Latino2.4%18.9%
Asian0.0%6.3%
Under 1832.0%22.2%
65 and over16.6%16.8%

Nearby Cities

Westphalia, IA 4 mi Earling, IA 5 mi Portsmouth, IA 6 mi Tennant, IA 9 mi Harlan, IA 9 mi

ZIP Codes in Panama

Panama, IA is covered by 1 ZIP code:

51562

Panama vs Other Cities

Panama, IA vs Westphalia, IA Panama, IA vs Earling, IA Panama, IA vs Portsmouth, IA Panama, IA vs Tennant, IA Panama, IA vs Harlan, IA

Frequently Asked Questions

Panama has a median home value of $118,800 and median rent of N/A/month against a median household income of $69,250.
Crime data for Panama is not available in the current FBI UCR reporting year. Not all jurisdictions submit data annually.
School district information is sourced from NCES Common Core of Data.
Panama, IA has a population of 247, a median household income of $69,250, and an unemployment rate of 0.0%. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Panama averages 30.7°F in January and 85.9°F in July. Annual rainfall is 34.3 inches with about 30.5 inches of snow per year. Based on NOAA 30-year climate normals (1991–2020).
Panama, IA is covered by 1 ZIP code: 51562.
The population of Panama, Iowa is 247 with a median age of 38.2. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Panama: median home $118,800, median household income $69,250. Whether these are benefits or drawbacks depends on where you're coming from — compare Panama side by side with your current city to see the trade-offs.