Living in Panama, Nebraska
Cost of living, income, home prices, rent and demographics of Panama · Census data 2020–2024
Panama has 232 residents with a median age of 52.7. The median household income is $94,514 (24% higher than the Nebraska median), the median home value is $197,800, the median rent is $1,313/month.
Panama is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Panama at a glance
- Population
- 232
- Median age
- 52.7State: 37.2
- Median household income
- $94,514State: $76,475
- Median home value
- $197,800State: $238,600
- Median rent
- $1,313/moState: $1,072
- Homeowners
- 88.3%
- Bachelor's degree or higher
- 12.8%
- Average commute
- 34 min
Is Panama a good place to live?
Pros: Median household income 24% higher than the Nebraska median; home values 17% lower than the state median; a poverty rate of 3.5%.
Cons: An average commute of 34 minutes; unemployment of 3.5%.
The weather is best in May to July and September.
Cost of living in Panama
Housing is the biggest part of the cost of living. In Panama the median home value is $197,800, 41% lower than the U.S. median. Renters pay a median of $1,313 per month, which is 25.6% of household income. Homeowners with a mortgage pay $1,663 a month in housing costs.
Panama median household income
The median household income in Panama is $94,514 and the income per person is $50,240. 3.5% of residents live below the poverty line (Nebraska: 10.6%).
Housing in Panama: homes for sale and rent
- Housing units
- 116
- Owner-occupied
- 88.3%
- Renter-occupied
- 11.7%
- Vacant
- 11.2%Includes seasonal homes
- Median year built
- 1963
- Average household size
- 2.25
Panama demographics
- Population
- 232
- Median age
- 52.7
- Under 18
- 20.3%
- 65 and older
- 26.3%
- Households
- 103
- Foreign-born
- 0%
- Veterans
- 5.4%Adults 18+
Hispanic or Latino can be of any race. Population history of Panama ›
Education in Panama
12.8% of adults 25 and older in Panama have a bachelor's degree or higher (Nebraska: 34.6%), and 7% have a graduate or professional degree.
Jobs and commute in Panama
- Unemployment rate
- 3.5%State: 3%
- Average commute
- 34 minState: 19 min
- Work from home
- 11.7%
- Drive alone
- 83.2%
- Public transit
- 0%
- Walk to work
- 0.7%
- Homes with broadband
- 93.2%
Panama vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Panama | 232 | $94,514 | $197,800 | $1,313 |
| Bennet | 1,218 | $105,859 | $272,400 | $1,260 |
| Hickman | 3,004 | $104,375 | $311,700 | — |
| Douglas | 269 | $71,250 | $120,400 | $725 |
| Firth | 604 | $80,938 | $221,600 | $1,056 |
| Roca | 242 | $100,000 | $231,300 | $1,125 |
| Palmyra | 589 | $85,139 | $164,500 | $1,188 |
| Adams | 580 | $90,774 | $191,500 | $886 |
| Woodland Hills | 205 | $138,646 | $452,400 | — |
More for people moving to Panama
Panama ZIP code ›Weather and climate ›Living in Panama: FAQ
What is the median household income in Panama, NE?
The median household income in Panama is $94,514, 24% higher than the Nebraska median of $76,475 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Panama?
The median home value in Panama is $197,800, compared with $238,600 in Nebraska.
How much is rent in Panama?
The median gross rent in Panama is $1,313 per month, about 25.6% of household income.
Is Panama, NE a good place to live?
Pluses: median household income 24% higher than the Nebraska median; home values 17% lower than the state median; a poverty rate of 3.5%. Minuses: an average commute of 34 minutes; unemployment of 3.5%.
What is the median age in Panama?
The median age in Panama is 52.7 years (Nebraska: 37.2).
How long is the commute in Panama?
The average commute to work in Panama is 34 minutes; 11.7% of workers work from home.
What is the unemployment rate in Panama?
The unemployment rate in Panama is 3.5% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Panama?
12.8% of adults in Panama have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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