Where does this demographic data come from?

All demographic data comes from the U.S. Census Bureau's American Community Survey (ACS) 5-Year Estimates, which samples about 3.5 million households annually. The 5-year estimates provide the most reliable data for small geographies like municipalities.

What is the difference between Census data and ACS data?

The decennial Census (conducted every 10 years) is a full population count focusing on basic demographics. The ACS is an ongoing survey that collects detailed data on income, education, housing, commute patterns, and more. ACS data is updated annually but represents averages over a 5-year period.

How accurate is this data for small towns?

For smaller municipalities, ACS estimates have wider margins of error because fewer residents are sampled. The 5-year estimates reduce this uncertainty by averaging over a longer period. For towns under 5,000 people, treat specific numbers as approximations rather than precise counts.

Panama, IL Population, Income & Demographics 2026

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Demographics — 2024 ACS 5-Year Estimatesi

Census

Populationi

420

Median Agei

40.3

Race & Ethnicityi

White

73.8%310

Two or More

14.3%60

Hispanic/Latino

10%42

American Indian/Alaska Native

1.9%8

Educational Attainment (Age 25+)i

GED/Alternative

8%23

High School Diploma

37.8%108

Some College (<1 yr)

11.2%32

Some College (1+ yr)

18.2%52

Associate's Degree

8.4%24

Bachelor's Degree

3.5%10

Master's Degree

0.3%1

HS or Higher

87.4%

BA or Higher

3.8%

Graduate+

0.3%

Housingi

Median Home Valuei

$54,700

Median Renti

$970

Tenure

Owner-Occupied

92.4%159

Renter-Occupied

7.6%13

Total Units

187

Homeownership

92.4%

Vacancy Rate

Home Values

Under $50K

44.7%71

$50K–$100K

42.1%67

$100K–$150K

13.2%21

Rent Distribution

$750–$1,000

$1,000–$1,250

Year Built

2010–2019

1.1%2

2000–2009

6.4%12

1990–1999

2.7%5

1980–1989

2.1%4

1970–1979

22.5%42

1960–1969

7.5%14

1950–1959

3.7%7

1940–1949

5.3%10

1939 or earlier

48.7%91

Heating Fuel

Utility Gas

86%148

Electricity

12.8%22

Bottled/LP Gas

0.6%1

Wood

0.6%1

Economyi

Median Household Incomei

$72,917

Mean Household Incomei

$70,553

Per Capita Incomei

$25,747

Poverty Ratei

9.5%

Unemploymenti

6.6%

Labor Forcei

183

Household Income Distribution

Under $10K

4.1%7

$10K–$15K

3.5%6

$15K–$20K

0.6%1

$20K–$25K

4.7%8

$25K–$30K

4.1%7

$30K–$35K

1.7%3

$35K–$40K

2.3%4

$40K–$45K

4.7%8

$45K–$50K

2.9%5

$50K–$60K

11.6%20

$60K–$75K

15.7%27

$75K–$100K

20.3%35

$100K–$125K

17.4%30

$125K–$150K

5.2%9

$150K–$200K

1.2%2

Ancestry & Heritage

Self-reported ancestry groups. Residents may report multiple ancestries, so totals may exceed 100%.

Foreign-Born Populationi

Foreign-Borni

30.7%

By Region

Top Countries

Mexico

Commute & Transportationi

Workersi

170

Avg. Commutei

29.8 min

How People Get to Work

Travel Time to Work

Workforce

Total Employed

171

Occupations

Industries

Social Characteristicsi

Marital Status (15+)i

Veteransi

29(9.8% of civilian adults)

Health Insurancei

95.7%Insured

4.3%Uninsured