Panama: Economy & Jobs
Households in Panama earn a median $72,917 (1.1× higher than Montgomery County median $63,620; 1.1× below Illinois median $83,390), with homes at a median value of $54,700. The surrounding county supports 4,511 jobs (avg $50,963).
- $65,189 avg taxable income per return — similar than the median household income (vs Illinois $100,597).
Income & Affordability
Median household income $72,917 — below the Illinois median ($77,902). Poverty rate 9.5% (U.S. average ~12.5%).
| Affordability · Home Price To Income | 0.8× |
|---|---|
| Affordability · Home Affordability | affordable |
| Affordability · Rent Pct Income | 13.7% |
| Affordability · Rent Affordability | affordable |
| Affordability · Poverty Rate | 9.5% |
| Affordability · Property Tax Pct Income | 1.2% |
| Irs Income · IRS tax returns filed | $6,890 |
| Irs Income · Total Adjusted Gross Income (thousands) | $449,149 |
| Irs Income · Average AGI per return | $65,189 (vs Illinois $100,597) |
| Irs Income · Year | 2022 |
| Income Estimate | $68,480 |
| Median Household Income | $72,917 (vs Illinois $77,902) |
| Poverty Rate | 9.5% |
Sources: IRS SOI 2022 · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Economic Character
Qualitative classification derived from Census occupation, industry, and income data — workforce composition (white-collar/blue-collar), top employing sector, and income tier.
| Economic Character · Workforce | mixed |
|---|---|
| Economic Character · Top Industry | Education Healthcare |
| Economic Character · Income Level | middle-class |
| Economic Character · Median Income | $72,917 |
Employment & Workforce
Employment + workforce stats. The county-level employment count covers all jobs within the county, not just town residents. Unemployment rate 4.0% — near the U.S. average of ~4%. 16% work from home (U.S. average ~15%).
| Commuter Profile · Work From Home Pct | 16.5% |
|---|---|
| Commuter Profile · Primary Mode | drove alone |
| Employment · Avg annual employment (county) | 4,511 |
| Employment · Total annual wages (county) | $229,915,883 |
| Employment · Average annual pay | $50,963 |
| Employment · Year | 2024 |
| State Occupation Wages · Year | 2023 |
| State Occupation Wages · All Occupations · Soc Code | 00-0000 |
| State Occupation Wages · All Occupations · Title | All Occupations |
| State Occupation Wages · All Occupations · Employment | 6,011,660 |
| Unemployment Rate | 4.0% (vs Illinois 3.9%) |
Sources: BLS QCEW 2023 · BLS Occupational Employment and Wage Statistics (OES) · Census ACS 5-Year 2023 · Refreshed 2026-04-12
Industry Sectors
Major industries by establishment count from Census County Business Patterns (2022). Sectors are NAICS-coded; counts are county-wide employer establishments.
| Agriculture · Total Farms | 542 |
|---|---|
| Agriculture · Land In Farms Acres | 13,144 |
| Agriculture · Avg Farm Size Acres | 24.30 |
| Agriculture · Top Commodities | Crop Totals, Grain, Corn, Soybeans, Animal Totals |
| Agriculture · Year | 2022 |
| Business Patterns · Establishments (employer count) | 295 |
| Business Patterns · Total Employees | 3,501 |
| Business Patterns · Annual Payroll Thousands | 147,489 |
| Business Patterns · Year | 2022 |
Sources: USDA NASS Census 2022 — county FIPS matched · Census CBP API — county FIPS match
Local Business Mix
Retail and service businesses by category (Census CBP NAICS-coded). Counts cover the surrounding county, not just the town. Reflects the everyday commercial mix residents can access.
| Local Businesses · Gas Stations | 7 |
|---|---|
| Local Businesses · General Merchandise | 4 |
| Local Businesses · Beauty Salons | 3 |
| Local Businesses · Auto Repair | 6 |
| Local Businesses · Real Estate Offices | 3 |
| Local Businesses · Commercial Banks | 6 |
| Local Businesses · Insurance Agencies | 9 |
| Local Businesses · Law Offices | 4 |
Sources: Census CBP — NAICS detail codes
Dining Scene
Eating + drinking establishments by NAICS category (Census CBP 2022) — full-service restaurants, fast-food, bars, coffee shops. County-level counts.
| Dining Scene · Full Service Restaurants | 10 |
|---|---|
| Dining Scene · Fast Food | 9 |
| Dining Scene · Bars | 5 |
Sources: Census CBP NAICS 722
Banking
FDIC-insured bank branches with addresses. Branch density correlates with population — fewer branches per resident in lower-density areas.
Branches (5)
SNAP & Food Access
USDA-authorized SNAP retailers — supermarkets, super stores, convenience stores, and other locations where SNAP benefits can be redeemed. Per-1K density tracks food access.
Sample (3)
| Nearest Snap · Name | Casey's General Store 1937 |
|---|---|
| Nearest Snap · Distance | 0.8 mi |
Sources: USDA SNAP — nearest by coordinates
Chamber of Commerce
IRS-registered chamber of commerce organizations matched to this town. Reflects the IRS Exempt Organizations BMF; some chambers operate informally and may not appear here.
| Chamber Of Commerce · Name | CARBONDALE CHAMBER OF COMMERCE |
|---|
Sources: IRS EO BMF · Refreshed 2026-04-12
Spending & Tax
Federal spending flowing to the surrounding county — direct payments, grants, contracts, loans (USAspending.gov).
| Federal Spending · Federal Spending Fy2024 | $101,990,011 |
|---|---|
| Federal Spending · Per Capita | 6,098.06 (vs Illinois $6,804) |
| Federal Spending · Population | 16,725 people (vs Illinois 39,460) |
Sources: USAspending API
Other
| Pct Drove Alone | 67.1% |
|---|---|
| Pct Public Transit | 0.6% |
| Pct Walked | 16.5% |
| Retirement Score · Median age | 40.3 years (vs Illinois 37.7y) |
| Retirement Score · Ss Household Pct | 36.6% |
| Retirement Score · Hospitals Nearby | 1 |
| Retirement Score · Va Access | Yes |
| Retirement Score · Factors | older population, strong SS base, hospital access, VA nearby |
| Retirement Score · Rating | excellent |
Sources: Census ACS 5-Year 2023 · Refreshed 2026-04-12