Panama, OK
Population 1,432 · Oklahoma
About Panama, OK
Panama is a small community in Oklahoma with a population of 1,432 residents. The median household income is $45,489 per year, which is below the national average. The median age in Panama is 30.5 years.
Housing in Panama has a median home value of $121,100 and median monthly rent of $833. Of the 680 total housing units, the majority are owner-occupied, with 379 owner-occupied and 200 renter-occupied units.
The unemployment rate in Panama is 5.3% and the poverty rate is 30.3%. 7.4% of residents hold a bachelor's degree or higher. The average commute time is 25.1 minutes.
Cost of Living in Panama, OK
Compared to national averages, Panama has a median household income of $45,489 (39% below the national median of $75,149). Home values average $121,100, which is 51% below the national median. Monthly rent at $833 is 28% below the US average of $1,163. Within Oklahoma, Panama's income is 19% below the state average of $56,382, and home values are 1% above the state median of $119,992.
Why Live in Panama, OK?
Panama offers affordable housing with a median home value of $121,100, below the US average of $244,900, and rent that’s lower than the national average at $833/month.
Potential considerations include median household income ($45,489) that falls below the national average. However, Panama’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Panama has a population of 1,432 with a median age of 30.5 years. Compare Panama with other cities to see how it stacks up, or explore all cities in Oklahoma.
Similar Cities Near Panama
Cities in Oklahoma with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Kenwood | 1,431 | $65,714 | $117,600 | Compare |
| Luther | 1,443 | $57,500 | $205,600 | Compare |
| Locust Grove | 1,445 | $44,853 | $103,500 | Compare |
| Cleora | 1,449 | $82,614 | $214,400 | Compare |
| Latta | 1,413 | $76,216 | $165,800 | Compare |
| Copeland | 1,405 | $53,571 | $122,500 | Compare |
| Dickson | 1,379 | $72,143 | $188,000 | Compare |
| Helena | 1,487 | $64,286 | $80,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Oklahoma
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, OK?
The population of Panama, OK is 1,432 according to the latest Census data.
What is the median household income in Panama?
The median household income in Panama, OK is $45,489 per year.
What is the median home value in Panama?
The median home value in Panama, OK is $121,100.
What is the average rent in Panama?
The median monthly rent in Panama, OK is $833.
What is the unemployment rate in Panama?
The unemployment rate in Panama, OK is 5.3%.