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ZipNumbers

Illinois · Census place 57498

Panama village, IL

Quick answer

Panama village has 327 residents, ranking #1061 of 1462 places in Illinois. Median household income is $60,096, the median home is worth $60,800 and median gross rent runs $833 a month.

Population
327Panama village residents
Median household income
$60,096Past 12 months, inflation adjusted
Median home value
$60,800Owner-occupied units
Median gross rent
$833Rent plus utilities, monthly
Median age
48.5 yrsAll residents
Homeownership rate
85.9%Owner-occupied households

What the numbers mean in Panama village

Housing cost measured against local earnings.

A household earning the Panama village median would spend about 16.6% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.0× the median household income; nationally that ratio sits near 4.5×. Poverty affects 9.5% of residents and 85.9% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

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