Panama is a small town of 253 in Nebraska, with a median household income of $87,404
and a 4.2% unemployment rate.
Its cost of living index is 92 (US average = 100), which is
8% below the national average.
Strengths:
Panama stands out for an affordable cost of living, below-average home prices.
Trade-offs:
Potential downsides include longer commutes. 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
Index: 92.0
Panama's overall cost of living index is 92.0,
where 100 represents the US national average.
Living in Panama costs roughly 8% less than the average American city.
Metric
Panama, NE
National Avg
Median Home Value
$190,000
$244,900
Median Monthly Rent
$950
$1,163
Homeownership Rate
87.4%
65.9%
Median Household Income
$87,404
$74,755
Crime & Safety
Safer than Average
Panama's violent crime rate is 329.4 per 100,000 residents
— 13% lower than the national average of ~380 per 100,000.
Violent Crime
329.4 /100k
Property Crime
2332.6 /100k
Vertical marker = national average. Source: FBI UCR Program.
Schools & Education
Metric
Panama, NE
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
94.8%
91.1%
Weather & Climate
Panama sees average highs of 34.4°F in January
and 87.1°F in July,
with 33.4 inches of annual precipitation
and 28.6 inches of snow per year.
Panama's cost of living index is 92, where 100 is the national average.
That makes Panama roughly 8% less expensive than a typical US city — a meaningful affordability advantage.
The median home price is $190,000 and median rent is $950/month.
Panama's violent crime rate is 329.4 per 100,000 residents — the national average is ~380 per 100,000. Property crime is 2332.6 per 100,000 (national avg ~2,100). Data from the FBI Uniform Crime Reporting Program.
School district information is sourced from NCES Common Core of Data.
Panama, NE has a population of 253, a median household income of $87,404, and an unemployment rate of 4.2%.
It offers below-average costs of living, which stretches take-home pay further than in most American cities. 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 34.4°F in January and 87.1°F in July. Annual rainfall is 33.4 inches
with about 28.6 inches of snow per year.
Based on NOAA 30-year climate normals (1991–2020).
Panama, NE is covered by 1 ZIP code: 68419.
The population of Panama, Nebraska is 253 with a median age of 48.1. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Panama: cost of living index 92 (100 = US average), median home $190,000, median household income $87,404, crime index 96 (100 = US average, lower is safer). 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.
