Panola, IL
Population 32 · Illinois
About Panola, IL
Panola is a small community located in Illinois with a population of 32 residents according to the latest US Census Bureau American Community Survey data. The median household income is $78,750 per year, which is 5% above the national median of $75,149. The median age of 53.5 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 Panola features a median home value of $123,200, which is 50% below the national median of $244,900. This makes Panola 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 21 total housing units, 100% are owner-occupied (17 units) and 0% are renter-occupied (0 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Panola 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 0.0%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Panola have an average one-way commute time of 31 minutes.
Education & Demographics
36.0% of Panola residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.0% White, 0.0% 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 Panola, IL
Compared to national averages, Panola has a median household income of $78,750 (5% above the national median of $75,149). Home values average $123,200, which is 50% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Illinois, Panola's income is 5% above the state average of $75,072, and home values are 26% below the state median of $165,779.
Why Live in Panola, IL?
Panola offers a strong local economy with a median household income of $78,750, well above the national average, and affordable housing with a median home value of $123,200, below the US average of $244,900, and rent that’s lower than the national average at $0/month. Additionally, the city features a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 36.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 0.0%, better than the national average.
Panola has a population of 32 with a median age of 53.5 years. Compare Panola with other cities to see how it stacks up, or explore all cities in Illinois.
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Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Panola
What is the population of Panola, IL?
The population of Panola, IL is 32 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Illinois.
What is the median household income in Panola?
The median household income in Panola, IL is $78,750 per year, which is 5% above the national median of $75,149.
What is the median home value in Panola?
The median home value in Panola, IL is $123,200, which is 50% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Panola?
The median monthly rent in Panola, IL is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Panola?
The unemployment rate in Panola, IL is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Panola, IL a good place to live?
Panola offers above-average incomes, affordable housing, and a strong job market. With a population of 32 and a median age of 53.5, the city appeals to established professionals and retirees.
How educated is Panola, IL?
36.0% of residents in Panola aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Panola?
Key cost-of-living indicators for Panola, IL: median home value is $123,200 (50% below national), median rent is $0/month, and median household income is $78,750. The home-value-to-income ratio is 1.6x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Panola?
The poverty rate in Panola, IL is 0.0%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Panola, IL?
Panola's population is 0.0% White, 0.0% 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.