Panacea, FL
Population 1,039 · Florida
About Panacea, FL
Panacea is a small town located in Florida with a population of 1,039 residents according to the latest US Census Bureau American Community Survey data. The median household income is $36,332 per year, which is 52% below the national median of $75,149. The median age of 46.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Panacea features a median home value of $0, which is 100% below the national median of $244,900. This makes Panacea one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 553 total housing units, 76% are owner-occupied (262 units) and 24% are renter-occupied (85 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Panacea shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 24.2%, above the national average of 12.4%. Workers in Panacea have an average one-way commute time of 0 minutes, one of the shorter commutes in the region.
Education & Demographics
20.5% of Panacea residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 1.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Panacea, FL
Compared to national averages, Panacea has a median household income of $36,332 (52% below the national median of $75,149). Home values average $0, which is 100% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Florida, Panacea's income is 52% below the state average of $75,893, and home values are 100% below the state median of $353,675.
Why Live in Panacea, FL?
Panacea offers affordable housing with a median home value of $0, below the US average of $244,900, and rent that’s lower than the national average at $0/month, and a strong job market with an unemployment rate of just 0.0%. Additionally, the city features short commute times averaging just 0 minutes.
Potential considerations include median household income ($36,332) that falls below the national average. However, Panacea’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Panacea has a population of 1,039 with a median age of 46.7 years. Compare Panacea with other cities to see how it stacks up, or explore all cities in Florida.
Similar Cities Near Panacea
Cities in Florida with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| DeLand Southwest | 1,042 | $40,670 | $262,500 | Compare |
| Avalon | 1,033 | $96,318 | $294,200 | Compare |
| Mexico Beach | 1,033 | $64,013 | $399,300 | Compare |
| Palmona Park | 1,028 | $29,912 | $0 | Compare |
| Winding Cypress | 1,053 | $142,819 | $917,400 | Compare |
| Masaryktown | 1,023 | $48,857 | $175,900 | Compare |
| Welaka | 1,059 | $51,528 | $271,200 | Compare |
| Weeki Wachee Gardens | 1,070 | $60,909 | $377,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Florida
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Panacea With Other Cities
Frequently Asked Questions about Panacea
What is the population of Panacea, FL?
The population of Panacea, FL is 1,039 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Florida.
What is the median household income in Panacea?
The median household income in Panacea, FL is $36,332 per year, which is 52% below the national median of $75,149.
What is the median home value in Panacea?
The median home value in Panacea, FL is $0, which is 100% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Panacea?
The median monthly rent in Panacea, FL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Panacea?
The unemployment rate in Panacea, FL is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Panacea, FL a good place to live?
Panacea offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,039 and a median age of 46.7, the city appeals to established professionals and retirees.
How educated is Panacea, FL?
20.5% of residents in Panacea aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Panacea?
Key cost-of-living indicators for Panacea, FL: median home value is $0 (100% below national), median rent is $0/month, and median household income is $36,332. The home-value-to-income ratio is 0.0x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Panacea?
The poverty rate in Panacea, FL is 24.2%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Panacea, FL?
Panacea's population is 0.0% White, 1.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.