Panama, Oklahoma Demographics & Population 2026
During the 2020–2024 ACS period, Panama, Oklahoma had a total population of 1,415, the 185th largest town in Oklahoma, with a median household income of $47,136, which is 28% lower than the state average. The poverty rate is 29.0%.
Data vintage: U.S. Census Bureau ACS 2020–2024 5-Year Estimates · refreshed July 2026 · Methodology & source notes
Key Takeaways
- More than 1 in 4 residents live below the poverty line (29.0%), well above the national average of 12.4%.
- Only 7.0% of adults have a bachelor's degree, well below the national average of 35.7%.
Panama Quick Facts
How Panama Changed
Change from the 2019–2023 ACS period to 2020–2024. These are rolling five-year estimates, not year-over-year measurements.
| Metric | 2019–2023 | 2020–2024 | Change |
|---|---|---|---|
| Population | 1,432 | 1,415 | -1.2% |
| Median household income | $45,489 | $47,136 | +3.6% |
| Median home value | $121,100 | $124,800 | +3.1% |
How Panama Compares
Median Household Income
Median Home Value
Economy & Housing
Household Income Distribution
Detailed income brackets
Employment
Housing Overview
People & Demographics
Age Distribution
Race & Ethnicity
Diversity Index
Moderate diversity with one or two groups making up the majority.
State average: 58 | National average: 61
Education
Educational Attainment (Adults 25+)
Panama Rankings in Oklahoma
Explore Oklahoma Rankings
Other Cities in Le Flore County
| City | Population | Median Income | Poverty | Home Value |
|---|---|---|---|---|
| Poteau | 8,959 | $50,511 | 19.8% | $157,400 |
| Pocola | 4,423 | $50,545 | 17.3% | $151,100 |
| Heavener | 3,012 | $34,408 | 33.0% | $59,200 |
| Spiro | 2,269 | $41,848 | 20.6% | $100,700 |
| Arkoma | 1,976 | $43,929 | 22.1% | $83,600 |
| Wister | 1,105 | $36,607 | 25.3% | $106,500 |
| Shady Point | 900 | $52,375 | 24.3% | $104,700 |
| Talihina | 864 | $40,500 | 22.2% | $72,000 |
| Howe | 791 | $52,031 | 30.4% | $108,600 |
| Rock Island | 684 | $45,114 | 28.1% | $134,700 |
Cities Similar to Panama
These cities in the same state have comparable population and economic profiles.
| City | Population | Median Income | Home Value | Bachelor's+ | Poverty |
|---|---|---|---|---|---|
| Locust Grove | 1,453 | $49,398 | $106,900 | 12.7% | 18.1% |
| Vian | 1,435 | $41,250 | $115,600 | 10.0% | 24.2% |
| Rush Springs | 1,299 | $45,125 | $85,700 | 13.5% | 25.6% |
| Carnegie | 1,521 | $43,839 | $79,600 | 14.4% | 21.6% |
| Copeland | 1,401 | $57,558 | $123,500 | 13.0% | 16.1% |
Population Overview
Panama is a small community located in Oklahoma, within Le Flore County. The total population is 1,415. It ranks as the 185th most populous out of 834 Census-designated places in Oklahoma.
Age Demographics
The median age in Panama is 31.5 years. This is 15% lower than the state median of 37.0 years. With 29.0% of the population under 18, Panama has a notably young demographic profile, suggesting a family-oriented community.
Economy, Income & Housing
The median household income in Panama is $47,136. This is 28% lower than the state median of $65,039. It is also 42% lower than the national median of $80,734. The poverty rate stands at 29.0%. This is 89% higher than the state poverty rate of 15.3%. With more than one in five residents living below the poverty line, economic hardship is a significant challenge for the community. The unemployment rate is 6.2%. This is 25% higher than the state rate of 5.0%. The median home value is $124,800. Housing costs are 38% lower than the state median of $199,800. With a home-value-to-income ratio of just 2.6x, Panama is one of the most affordable housing markets in the area. 65.4% of occupied housing units are owner-occupied.
Race & Ethnicity
The largest racial or ethnic group in Panama is White (non-Hispanic), making up 66.1% of the population. Hispanic or Latino residents account for 6.1%. The Black or African American population (0.1%) is well below the state average of 6.8%. The Hispanic or Latino population (6.1%) is well below the state average of 12.7%. The Asian population (0.5%) is well below the state average of 2.4%.
Education
7.0% of residents aged 25 and older hold a bachelor's degree or higher. This is 75% lower than the state rate of 28.3%. Nationally, 35.7% of adults hold at least a bachelor's degree. The high school graduation rate (or equivalent) is 87.8%.
Data Sources & Methodology
All demographic data for Panama, Oklahoma 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 Oklahoma state averages and national averages calculated from the same dataset. Rankings reflect the city's position among all 834 Census-designated places in Oklahoma. 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 Panama, Oklahoma?
Panama, Oklahoma has a population of 1,415 according to the most recent U.S. Census ACS 5-Year Estimates.
What is the median household income in Panama, OK?
The median household income in Panama is $47,136, which is 42% lower than the national median of $80,734.
What is the poverty rate in Panama, OK?
The poverty rate in Panama is 29.0%. This means approximately 408 residents live below the federal poverty line.
What is the racial makeup of Panama, Oklahoma?
Panama's population is 66.1% White, 0.1% Black, 6.1% Hispanic/Latino, and 0.5% Asian.
What is the median home value in Panama, OK?
The median home value in Panama is $124,800. The home-value-to-income ratio is 2.6x.
How educated is Panama, Oklahoma?
7.0% of adults (25+) in Panama hold a bachelor's degree or higher, and 1.9% hold a graduate or professional degree.