Panacea, Florida Demographics & Population 2026
Demographic data: ACS 2020–2024 five-year estimates. Sources and methodology
During the 2020–2024 ACS period, Panacea, Florida had a total population of 894, the 796th largest community in Florida, with a median household income of $37,983, which is 49% lower than the state average. The poverty rate is 5.7%.
Key Takeaways
- Household income is 49% below the state average, indicating significant economic challenges.
- Unemployment rate of 18.5% is notably above the national average.
Panacea Quick Facts
How Panacea Changed
Change from the non-overlapping 2015–2019 ACS period to 2020–2024. Earlier dollar figures are adjusted to 2024 dollars; changes marked “no clear change” are within the combined 90% margins of error.
| Metric | 2015–2019 | 2020–2024 | Change |
|---|---|---|---|
| Population | 910 | 894 | No clear change (-1.8%) |
| Median home value¹ | $93,534 | $105,600 | No clear change (+12.9%) |
How Panacea Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
- White: 96.9%
- Black: 0.0%
- Hispanic: 0.0%
- Asian: 0.0%
- Other: 0.0%
Diversity Index
A less diverse community where one racial or ethnic group represents a large majority.
State average: 65 | National average: 61
Education
Educational Attainment (Adults 25+)
- < High School: 26.6%
- HS Diploma: 44.0%
- Some College: 3.3%
- Associate's: 4.0%
- Bachelor's: 9.7%
- Graduate+: 12.4%
Panacea Rankings in Florida
Explore Florida Rankings
Other Cities in Wakulla County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Crawfordville | 5,732 | $82,656 | 4.7% | $255,500 |
| Sopchoppy | 496 | $54,643 | 8.7% | $250,000 |
| St. Marks | 243 | $62,321 | 3.7% | $256,300 |
Cities Similar to Panacea
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Southport | 873 | N/A | $189,700 | 33.0% | 10.3% |
| White Springs | 919 | $38,229 | $84,100 | 21.3% | 24.7% |
| Allentown | 955 | N/A | $243,800 | 28.7% | 8.4% |
| Cottondale | 822 | $36,959 | $79,200 | 12.0% | 28.4% |
| Archer | 958 | $41,058 | $184,800 | 23.5% | 38.1% |
A note before these figures: with a population of 894, Panacea's ACS estimates come from a small number of survey responses and carry wide margins of error. Individual percentages below — particularly rates that round to 0% or 100% — are approximations, not precise measurements. See data.census.gov for the published margins of error.
Population Overview
Panacea is a small community located in Florida, within Wakulla County. The total population is 894. It ranks as the 796th most populous out of 955 Census-designated places in Florida.
Age Demographics
The median age in Panacea is 56.1 years. This is 32% higher than the state median of 42.6 years.
Economy, Income & Housing
The median household income in Panacea is $37,983. This is 49% lower than the state median of $74,568. It is also 53% lower than the national median of $80,734. The poverty rate stands at 5.7%. This is 55% lower than the state poverty rate of 12.6%. The unemployment rate is 18.5%. This is 283% higher than the state rate of 4.8%. The median home value is $105,600. Housing costs are 71% lower than the state median of $359,000. With a home-value-to-income ratio of just 2.8x, Panacea is one of the most affordable housing markets in the area. 48.9% of occupied housing units are owner-occupied. This homeownership rate is 28% lower than the state average of 67.6%.
Race & Ethnicity
Panacea has a predominantly White (non-Hispanic) population, comprising 96.9% of all residents. The White (non-Hispanic) population is significantly higher than the state average (96.9% vs 50.4%).
Education
22.1% of residents aged 25 and older hold a bachelor's degree or higher. This is 35% lower than the state rate of 34.2%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 73.4%.
Data Sources & Methodology
All demographic data for Panacea, Florida is sourced from the U.S. Census Bureau's American Community Survey (ACS) 2020–2024 5-Year Estimates. The ACS collects data from approximately 3.5 million households annually and pools five years of responses so that even small communities can be measured, though the margin of error widens as the population falls. Comparisons are made against Florida state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 955 Census-designated places in Florida. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.
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Frequently Asked Questions
What is the population of Panacea, Florida?
Panacea, Florida has a population of 894 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Panacea, FL?
The median household income in Panacea is $37,983, which is 53% lower than the national median of $80,734.
What is the poverty rate in Panacea, FL?
The poverty rate in Panacea is 5.7%. This means approximately 51 residents live below the federal poverty line.
What is the racial makeup of Panacea, Florida?
Panacea's population is 96.9% White, 0.0% Black, 0.0% Hispanic/Latino, and 0.0% Asian.
What is the median home value in Panacea, FL?
The median home value in Panacea is $105,600. The home-value-to-income ratio is 2.8x.
How educated is Panacea, Florida?
22.1% of adults (25+) in Panacea hold a bachelor's degree or higher, and 12.4% hold a graduate or professional degree.