Panama: Demographics & People
Panama is home to 420 people, in 172 households. Population grew 28.4% from 327 (2022) to 420 (2024). Median age 40.3 years. (2.5y younger than Montgomery County; 2.6y older than Illinois). Children under 18 are 29% of the population. Population is 74% White (non-Hispanic) and 10% Hispanic or Latino. The community is relatively homogeneous (Simpson index 0.01). 73% of households are family-led. County is losing 54 residents per year (2022-2023). County health: 38% adult obesity, 22% smoke.
- 2.4 people per household (vs Illinois avg 2.5).
- 27% non-family households (singles, roommates) (vs Illinois 38%).
- 80 dependents per 100 working-age (youth + seniors / 18-64) (vs Illinois 64).
Population & Trend
Population grew 28.4% from 327 (2022) to 420 (2024) — about 47.4× the recent U.S. annual rate of ~0.6%/yr. Estimated 2026 population: ~547 (extrapolated at 14.2%/yr trend). Census Bureau Vintage estimate: 753.
| Census data vintage | 2024 |
|---|---|
| Population | 16,725 people |
| Annual growth rate · Population change | 28.4% |
| Annual growth rate · Population (2022) | 327 |
| Annual growth rate · Population (2024) | 420 |
| Annual growth rate · Population growing | Yes |
| Annual growth rate · Trend category | booming |
| Population | 420 people (vs Illinois 39,460) |
| Population Estimate | 753 |
Sources: Census ACS 5-Year 2023, Table B01003 · Refreshed 2026-04-12
Age Distribution
Median age 40.3y is 1.4 years older than the U.S. median (38.9y). Children under 18 make up 29% — above the U.S. share of ~22%.
| Age Summary · Median age | 40.3 years (vs Illinois 37.7y) |
|---|---|
| Age Summary · Children Pct | 29.3% |
| Age Summary · Character | established |
| Age Summary · Total Pop | 420 |
| Age Summary · Under 18 | 123 |
| Age Summary · 18 To 34 | 37.0× |
| Age Summary · 35 To 64 | 197.0× |
| Age Summary · 65 Plus | 63 |
| Population under 18 | 123 |
| Median age | 40.3 years (vs Illinois 37.7y) |
Sources: Census ACS 5-Year 2024 — place-level B01001 query · Census ACS 5-Year 2023 · Refreshed 2026-04-29
Race, Ethnicity & Diversity
Of 420 residents, race / ethnicity breaks down by Census ACS counts (a person can identify with one or more groups). The Simpson diversity index is 0.01 (0 = single group, 1 = perfectly even distribution); this is read as relatively homogeneous.
| White residents | 324 |
|---|---|
| Hispanic or Latino residents | 1 |
| Diversity Index · Diversity index (Simpson) | 0.6% |
| Diversity Index · Diversity label | relatively homogeneous |
| Diversity Index · Groups counted | 2 |
| Diversity Index · Largest group share | 99.7% |
| Hispanic or Latino population | 10.0% (vs Illinois 17.6%) |
| White (non-Hispanic) population | 73.8% (vs Illinois 54.8%) |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12
Ancestry
Self-reported ancestry from Census ACS — what residents report as their ethnic origin, separate from race. Counts can exceed population because people can list multiple ancestries.
Top (8)
Citizenship & Origin
Where residents were born and their citizenship status (Census ACS).
| Residents born in this state | 356 |
|---|---|
| Residents born in another state | 61 |
| Share born in this state | 84.8% |
| Share born in another state | 15.2% |
| Native-born U.S. citizens | 14.5% |
| Naturalized citizens | 0.7% |
| Total foreign-born residents | 1 |
Households & Family Composition
172 households. Averaging 2.2 people each — smaller than the U.S. average of 2.5. 73% are family households — above the U.S. share of ~65%. Of 98 families, 27% are married couples with children.
| Children under 18 | 66 |
|---|---|
| Total families | 98 |
| Married couples with children | 26 |
| Single-parent households | 6 |
| Average household size | 2.19 |
| Women who gave birth (past year) | 19.1% |
| Grandparents living with grandchildren | 4 |
| Family households | 125 households (vs Illinois 9,709) |
| Households that are families | 72.7% (vs Illinois 62.4%) |
| Total households | 172 households (vs Illinois 14,867) |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12
Residential Stability & Migration
How long residents have lived here and where they came from. 13.7% moved within the county in the past year — the U.S. baseline is roughly 8–10%. The surrounding county is losing 54 residents per year on net (IRS migration data).
| Moved within the county (past year) | 13.7% |
|---|---|
| Migration · People moving in (annual) | 13,314 |
| Migration · People moving out (annual) | 13,368 |
| Migration · Net migration (in − out) | -54 |
| Migration · Year | 2022-2023 |
Sources: IRS SOI Migration 2021-2022 · Refreshed 2026-04-12
Disability
Census ACS measures self-reported functional limitations — vision, hearing, mobility, cognitive, self-care, or independent-living. The U.S. baseline disability rate is about 12–13%; rates trend higher with median age.
| Residents with a disability | 24 |
|---|---|
| Disability rate | 7.6% |
Other
| Congressional District · District | 15 |
|---|---|
| Congressional District · Formatted | IL-15 |
| Congressional District · Congress | 118th |
| Cdc Birth Rate · Fips | 17005 |
| Cdc Birth Rate · State Fips | 17 |
| Cdc Birth Rate · County Fips | 005 |
| Cdc Birth Rate · County | Bond |
| Cdc Birth Rate · Birth Rate | 14.5% |
| Cdc Birth Rate · Lower Ci | 10.30 |
| Cdc Birth Rate · Upper Ci | 19.70 |
| Cdc Mortality · Fips | 17005 |
| Cdc Mortality · County | Bond County |
| Cdc Mortality · Urban Rural | Large fringe metro |
| Cdc Mortality · Total Deaths 2020 2023 | 478 |
| Cdc Vaccination · Fips | 17005 |
| Cdc Vaccination · County | Bond County |
| Cdc Vaccination · Dose1 Pop Pct | 61.0% |
| Cdc Vaccination · Series Complete Pct | 57.0% |
| Cdc Vaccination · Booster Pct | 51.9% |
| Cdc Vaccination · Population 2019 | 16,426 |
| Cdc Vaccination · Metro Status | Metro |
| Family Score · Score | 5.50 |
| Family Score · Schools | 9 |
| Family Score · Children Pct | 29.3% |
| Family Score · Rating | good |
| Town Summary · Key Facts | population 420, booming, established, middle-class, mixed |
| Town Summary · Population | 420 people (vs Illinois 39,460) |
| Town Summary · County | Bond County |
Sources: Census place-to-CD118 crosswalk (place_fips) · federal dataset cascade