Panama, NE
Population 223 · Nebraska
About Panama, NE
Panama is a small community located in Nebraska with a population of 223 residents according to the latest US Census Bureau American Community Survey data. The median household income is $89,583 per year, which is 19% above the national median of $75,149. The median age of 51.8 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 Panama features a median home value of $196,000, which is 20% below the national median of $244,900. This positions Panama in a moderately priced market relative to the rest of the country. Median monthly rent is $1,250, 7% above the national average of $1,163/month. Of the 108 total housing units, 89% are owner-occupied (85 units) and 11% are renter-occupied (11 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Panama shows an unemployment rate of 4.3%, which is near the national rate of 3.7%. The poverty rate stands at 3.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Panama have an average one-way commute time of 33.4 minutes.
Education & Demographics
15.0% of Panama 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 0.9% White, 11.2% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
How Panama Ranks in Nebraska
Cost of Living in Panama, NE
Compared to national averages, Panama has a median household income of $89,583 (19% above the national median of $75,149). Home values average $196,000, which is 20% below the national median. Monthly rent at $1,250 is 7% above the US average of $1,163. Within Nebraska, Panama's income is 36% above the state average of $65,895, and home values are 56% above the state median of $125,824.
Why Live in Panama, NE?
Panama offers a strong local economy with a median household income of $89,583, well above the national average, and affordable housing with a median home value of $196,000, below the US average of $244,900, and a low poverty rate of 3.6%, better than the national average.
Panama has a population of 223 with a median age of 51.8 years. Compare Panama with other cities to see how it stacks up, or explore all cities in Nebraska.
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Demographics
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Economy & Education
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Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Panama
What is the population of Panama, NE?
The population of Panama, NE is 223 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Nebraska.
What is the median household income in Panama?
The median household income in Panama, NE is $89,583 per year, which is 19% above the national median of $75,149.
What is the median home value in Panama?
The median home value in Panama, NE is $196,000, which is 20% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Panama?
The median monthly rent in Panama, NE is $1,250, which is 7% above the national average of $1,163/month.
What is the unemployment rate in Panama?
The unemployment rate in Panama, NE is 4.3%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Panama, NE a good place to live?
Panama offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 223 and a median age of 51.8, the city appeals to established professionals and retirees.
How educated is Panama, NE?
15.0% of residents in Panama 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 Panama?
Key cost-of-living indicators for Panama, NE: median home value is $196,000 (20% below national), median rent is $1,250/month, and median household income is $89,583. The home-value-to-income ratio is 2.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Panama?
The poverty rate in Panama, NE is 3.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Panama, NE?
Panama's population is 0.9% White, 11.2% 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.