Everything You Should Know Before Moving to Panama, NY
Thinking of moving to Panama, NY? This small, close-knit village has a population of just 415 and boasts affordable living with median home prices around $105,000 and average rents at $690. Enjoy low crime rates, short 23-minute commutes, and strong public schools with low student-teacher ratios. With four full seasons, peaceful surroundings, and easy access to nearby healthcare and colleges, Panama is ideal for those seeking a quiet, rural lifestyle with a strong sense of community.
Demographics - Panama, NY
Demographics - Panama, NY
Panama, NY is a small village of 415 residents, predominantly White, with a median age of 41.6 and an even gender balance. The community features a moderate population density and a strong sense of familiarity, making it an appealing choice for those seeking a quiet, close-knit environment.
Population:
415
Density:
315 per sq mi
Median Age:
41.6
Gender Ratio:
101 males per 100 females
Non-English Speakers Percentage:
1.8%
Ethnic Composition
White:
97.8%
Black:
0.5%
Asian:
0.0%
Others:
1.7%
Cost Of Living
What is the average cost of living in Panama, NY?
Living in Panama is highly affordable, with a median home value of $105,000 and rents averaging $690. The cost of living index is well below the national average, making it an attractive option for those looking to stretch their dollars in housing, utilities, and everyday expenses.
Median House Value:
$105,000
Gross Rent:
$690
Monthly Electricity Charges:
$110
Auto Insurance:
$1,180
House Owner Cost With Mortgage:
$1,080
House Owner Cost Without Mortgage:
$430
State Taxes:
Low:
4.0%
|
High:
8.82%
Cost Of Living Index:
82.1
Grocery:
97.0
Housing:
54.0
Utilities:
104.0
Transportation:
98.0
Health Care:
107.0
Miscellaneous:
97.0
Crime
Is Panama, NY a safe place to live?
Panama experiences very low crime, with just 68 violent crimes per 100,000 people and a 1 in 1,470 chance of being affected, offering residents peace of mind. Property crime is also limited, contributing to the village's safe and secure atmosphere.
Violent Crimes Per 100k:
68
Property Crimes Per 100k:
832
Crime Index:
900
Chance Of Violent Crime:
1 in 1,470
Chance Of Property Crime:
1 in 120
Weather
What is the weather like in Panama, NY year-round?
Residents of Panama enjoy four distinct seasons, with cold, snowy winters, warm summers reaching up to 78°F, and pleasant spring and fall transitions. The area receives about 45 inches of rainfall annually and sees sunshine nearly half the year, making outdoor activities enjoyable for much of the year.
Winter
Min:
15°F
Max:
32°F
Spring
Min:
37°F
Max:
61°F
Summer
Min:
56°F
Max:
78°F
Fall
Min:
40°F
Max:
63°F
Average Rainfall Inches:
44.8 inches
Sunny Days Percentage:
46%
Neighbors
Households in Panama typically earn around $54,700, and the poverty rate is moderate at just over 11%. Most residents commute about 23 minutes for work, and the community is well-educated, with over 93% holding a high school diploma or higher.
Median Income:
$34,400
Household Income:
$54,700
Family Income:
$58,500
Per Capita Income:
$24,800
Income Male:
$35,200
Income Female:
$29,900
Poverty Rate:
11.2%
Non English Speakers:
1.8%
Rent:
$690
Unemployment Rate:
5.4%
Public Transport Usage:
0.5%
Commute Time:
22.8 minutes
Education
High School or Higher:
93.5%
Bachelors or More:
20.2%
Education
How are the schools in Panama, NY?
Panama Central School serves the community with small class sizes and a low student-teacher ratio, fostering personalized learning. Nearby, Jamestown Community College provides local access to higher education, supporting lifelong learning opportunities.
Public Schools
Name:
Panama Central School
Street:
41 North St
Phone:
716-782-2455
Students:
470
Student Teacher Ratio:
10.8
Colleges
Name:
Jamestown Community College
City:
Jamestown
State:
NY
Distance:
16 miles
Students:
2,900
Healthcare
Healthcare access in Panama is strong, with a major hospital, UPMC Chautauqua, located in nearby Jamestown and high health insurance coverage at 95%. The area has 2.1 physicians per 1,000 residents, ensuring timely medical care.
Major Hospitals
Name:
UPMC Chautauqua
Address:
207 Foote Ave, Jamestown, NY 14701
Phone:
(716) 487-0141
Type:
General & Surgical
Emergency Services:
Yes
Physicians Per 1000:
2.1
Health Insurance Coverage:
95.4%
Health Care Index:
77.2
Housing Market
What is the housing market like in Panama, NY?
Panama's housing market is stable and budget-friendly, with median home prices at $105,000 and a high owner-occupancy rate of over 76%. Home values have appreciated over 5% in the last year, making it attractive for buyers and investors alike.
Median Home Price:
$105,000
Average Rent For 2 Bedroom:
$690
Owner Occupied Rate:
76.2%
Rental Vacancy Rate:
7.3%
Home Appreciation Rate (1yr):
5.1%
New Construction Rate:
0.7%
Foreclosure Rate:
0.6%
DMV Information
Residents handle vehicle registration and licensing through the New York State DMV office in Jamestown, conveniently located nearby. Services and resources are easily accessible both in person and online for Panama locals.
State:
New York
Department:
New York State Department of Motor Vehicles
Address:
512 W. 3rd Street, Jamestown, NY 14701
Phone:
1-518-486-9786
Website:
Disclaimer: The information provided on this page is based on publicly available sources including AccuWeather, U.S. Census Bureau, local government data, and third-party partners such as Neustar. While we strive to ensure accuracy, all data is provided “as is” and should be independently verified before making any decisions. Movers.com makes no guarantees regarding the completeness or reliability of the information.