Panama, IL Employment - Median Household Income, Unemployment Rate

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C-

12%

Income/capita NAT. AVG.

1%

Household income NAT. AVG.

31%

Unemployment NAT. AVG.

Index	Panama	Illinois	National
Income per capita	$39,593	$47,397	$44,883
Median household income	$81,921	$88,967	$81,333
Median income owner occupied	$84,267	$111,557	$106,172
Median income renter occupied	$0	$52,117	$52,080
Median earnings male	$51,808	$60,185	$54,343
Median earnings female	$37,364	$40,368	$38,439
Unemployment rate	3.4%	6.6%	4.9%
Poverty level	10.4%	14.0%	15.1%

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518 North Ave

Panama, IL

Key findings

The income per capita in Panama is 12% lower than the national average
The median household income in Panama is 1% higher than the national average
Male median earnings are 41% higher than female median earnings
The unemployment rate in Panama is 31% lower than the national average
The poverty level in Panama is 31% lower than the national average

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am i middle class

$54,608 $81,921 $163,842

City

$59,305 $88,967 $177,934

State

$54,216 $81,333 $162,666

Nation

According to the PEW research center, the middle class is defined as a range from two thirds (2/3) of the median household income to a multiple of two (2) times the median household income. Displayed above are the city, state and national median household income averages. Simply enter your median household income to determine if your income falls into the middle class or if your household income is considered upper or lower class.

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Panama median earnings by income bracket

Panama employment by industry

Labour Type	Male	Female
Construction industry	17.4%	17.4%
Manufacturing sector	10.9%	10.9%
Financial & insurance services	4.3%	4.3%
Wholesale & retail services	26.1%	26.1%
Public administration	0.0%	0.0%
Transportation, warehousing & utilities	4.3%	4.3%
Education, health & social services	17.4%	17.4%
Other	17.4%	17.4%

Nearby cities with high median household income

City	Population	Household Income	National Avg.
Grantfork, IL	494	$128,474	58.0%
Old Ripley, IL	81	$103,068	26.7%
Hillsboro, IL	6,368	$91,466	12.5%
Livingston, IL	812	$82,673	1.6%
White City, IL	203	$81,505	0.2%
Panama, IL	228	$81,921	0.7%

Cities with similar population

City	Population	Household Income	National Avg.
Newtok, AK	228	$47,416	41.7%
Tillar, AR	228	$56,235	30.9%
Elbert, CO	228	$85,672	5.3%
Mineola, IA	228	$100,052	23.0%
Wadena, IA	228	$79,357	2.4%
Panama, IL	228	$81,921	0.7%

Source: The Panama, IL employment data displayed above is derived from the United States Census Bureau American Community Survey (ACS) and include 2026 modeled data developed using proprietary methodologies.