Pana, IL
Population 5,277 · Illinois
About Pana, IL
Pana is a small town located in Illinois with a population of 5,277 residents according to the latest US Census Bureau American Community Survey data. The median household income is $45,083 per year, which is 40% below the national median of $75,149. The median age of 45 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 Pana features a median home value of $82,000, which is 67% below the national median of $244,900. This makes Pana one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $670, 42% below the national average of $1,163/month. Of the 2,644 total housing units, 68% are owner-occupied (1,487 units) and 32% are renter-occupied (696 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Pana shows an unemployment rate of 6.8%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 14.6%, above the national average of 12.4%. Workers in Pana have an average one-way commute time of 20.5 minutes.
Education & Demographics
15.3% of Pana 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 4.7% White, 0.0% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.9% of the population being foreign-born.
Cost of Living in Pana, IL
Compared to national averages, Pana has a median household income of $45,083 (40% below the national median of $75,149). Home values average $82,000, which is 67% below the national median. Monthly rent at $670 is 42% below the US average of $1,163. Within Illinois, Pana's income is 40% below the state average of $75,072, and home values are 51% below the state median of $165,779.
Why Live in Pana, IL?
Pana offers affordable housing with a median home value of $82,000, below the US average of $244,900, and rent that’s lower than the national average at $670/month, and short commute times averaging just 20.5 minutes.
Potential considerations include median household income ($45,083) that falls below the national average. However, Pana’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Pana has a population of 5,277 with a median age of 45 years. Compare Pana with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Pana
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Grandwood Park | 5,311 | $124,847 | $313,000 | Compare |
| Highwood | 5,243 | $101,862 | $454,500 | Compare |
| Posen | 5,331 | $71,994 | $172,800 | Compare |
| Berkeley | 5,222 | $83,224 | $222,400 | Compare |
| Colona | 5,189 | $76,558 | $152,100 | Compare |
| Lake Barrington | 5,400 | $132,857 | $451,400 | Compare |
| Lake Holiday | 5,402 | $112,250 | $235,300 | Compare |
| Coal City | 5,145 | $73,030 | $211,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Pana With Other Cities
Frequently Asked Questions about Pana
What is the population of Pana, IL?
The population of Pana, IL is 5,277 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Pana?
The median household income in Pana, IL is $45,083 per year, which is 40% below the national median of $75,149.
What is the median home value in Pana?
The median home value in Pana, IL is $82,000, which is 67% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Pana?
The median monthly rent in Pana, IL is $670, which is 42% below the national average of $1,163/month.
What is the unemployment rate in Pana?
The unemployment rate in Pana, IL is 6.8%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Pana, IL a good place to live?
Pana offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 5,277 and a median age of 45, the city appeals to a broad range of residents.
How educated is Pana, IL?
15.3% of residents in Pana 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 Pana?
Key cost-of-living indicators for Pana, IL: median home value is $82,000 (67% below national), median rent is $670/month, and median household income is $45,083. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Pana?
The poverty rate in Pana, IL is 14.6%, 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 Pana, IL?
Pana's population is 4.7% White, 0.0% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.9% two or more races. 0.9% of residents are foreign-born.