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The total population of Panama is estimated to be 484 with 257 males (53.10%) and 227 females (46.90%). There are 30 less females than males in Panama.
The median household income in Panama was $57,423 in 2021, which marked an an increase of 5,369(10.31%) from $52,054 in 2020. This income is 76.97% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Panama sees its highest median household income among householders in the age group of 45 to 64 years old, at $75,123. Overall, the median household income for the village of Panama stands at $57,423.
In Panama, the median income for all workers aged 15 years and older, regardless of work hours, was $36,481 for males and $26,179 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $49,992 for males and $42,851 for females.
In Panama, population is primarily represented by White households, reporting a median income of $57,199.
In 2022, the population of Panama was 462, a 0.65% decrease year-by-year from 2021. Previously, in 2021, Panama's population was 465, a decline of 0.64% compared to a population of 468 in 2020.
The median age in Panama, NY is 42.5, as per 2021 ACS 5-Year Estimates. Of the total population, 16.17% were under the age of 15, 27.11% aged 15 to 29, 39.86% aged 30 to 64, 13.90% aged 65 to 84, and 2.96% were 85 years of age and older.
Racial distribution of Panama population: 98.18% are White, 0.46% are Asian and 1.37% are multiracial.