Panama, IL Housing Statistics

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65%

Med. Home Val. NAT. AVG.

31%

Rent NAT. AVG.

42%

Owner Occ. NAT. AVG.

Panama Housing Information

Index	Panama	Illinois	National
Median home price	$114,408	$308,565	$326,622
Median rent asked	$1,003	$1,374	$1,444
Avg. people per household	1.9	2.6	2.6
Owner occupied households	90.1%	66.0%	63.6%
Renter occupied households	9.9%	34.0%	36.4%

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Housing Quick Facts

The median home price in Panama is 65% lower than the national average.
The median rent asked in Panama is 31% lower than the national average.
The average number of people per household in Panama is 28% lower than the national average.
The number of owner occupied households in Panama is 42% higher than the national average.
The number of renter occupied households in Panama is 73% lower than the national average.

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Nearby cities with low home prices

	Population	Home Price	National Avg.
Walshville, IL	247	$0	100%
Old Ripley, IL	81	$0	100%
Sorento, IL	515	$67,372	79%
Irving, IL	348	$90,622	72%
Williamson, IL	206	$100,100	69%
Panama, IL	228	$114,408	65%

Cities with similar population

	Population	Home Price	National Avg.
Jolly, TX	228	$345,741	6%
Manchester, IL	228	$161,131	51%
Nason, IL	228	$114,160	65%
Acequia, ID	228	$175,276	46%
North Bay, WI	228	$603,504	85%
Panama, IL	228	$114,408	65%

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