Panama, New York Demographics & Population 2026

A note before these figures: with a population of 451, Panama'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

Panama is a small community located in New York, within Chautauqua County. The total population is 451. It ranks as the 1088th most populous out of 1,289 Census-designated places in New York.

Age Demographics

The median age in Panama is 46.6 years. This is 17% higher than the state median of 39.8 years. Only 12.4% of residents are under 18, indicating fewer families with children. 13.1% of residents are 75 or older, suggesting a significant retirement-age population with implications for healthcare services and senior housing.

Economy, Income & Housing

The median household income in Panama is $60,865. This is 29% lower than the state median of $85,974. It is also 25% lower than the national median of $80,734. The poverty rate stands at 12.9%. This is 8% lower than the state poverty rate of 14.0%. The unemployment rate is 2.1%. This is 66% lower than the state rate of 6.4%. The median home value is $105,400. Housing costs are 75% lower than the state median of $423,800. With a home-value-to-income ratio of just 1.7x, Panama is one of the most affordable housing markets in the area. 55.3% of occupied housing units are owner-occupied. This homeownership rate is 2% higher than the state average of 54.4%.

Race & Ethnicity

Panama has a predominantly White (non-Hispanic) population, comprising 97.1% of all residents. Hispanic or Latino residents account for 1.3%. The White (non-Hispanic) population is significantly higher than the state average (97.1% vs 52.8%). The Hispanic or Latino population (1.3%) is well below the state average of 19.8%.

Education

19.9% of residents aged 25 and older hold a bachelor's degree or higher. This is 51% lower than the state rate of 40.2%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 88.9%.

Data Sources & Methodology

All demographic data for Panama, New York 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 New York state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 1,289 Census-designated places in New York. Read more about how these figures are produced on our methodology page, or visit data.census.gov for official data.