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Panama is a village located in Bond County, Illinois. As of the 2000 census, the village had a total population of 323.
Panama is located at 39°1'50" North, 89°31'25" West (39.030451, -89.523548).
According to the United States Census Bureau, the village has a total area of 0.9 km2 (0.3 mi2). 0.9 km2 (0.3 mi2) of it is land and none of it is covered by water.
As of the census of 2000, there were 323 people, 155 households, and 84 families residing in the village. The population density was 366.8/km2 (958.3/mi2). There were 174 housing units at an average density of 197.6/km2 (516.2/mi2). The racial makeup of the village was 97.83% White, 0.00% African American, 0.93% Native American, 0.00% Asian, 0.00% Pacific Islander, 0.00% from other races, and 1.24% from two or more races. 0.00% of the population were Hispanic or Latino of any race.
There were 155 households out of which 20.6% had children under the age of 18 living with them, 42.6% were married couples living together, 6.5% had a female householder with no husband present, and 45.2% were non-families. 41.3% of all households were made up of individuals and 16.8% had someone living alone who was 65 years of age or older. The average household size was 2.08 and the average family size was 2.75.
In the village the population was spread out with 20.4% under the age of 18, 6.2% from 18 to 24, 27.2% from 25 to 44, 24.1% from 45 to 64, and 22.0% who were 65 years of age or older. The median age was 43 years. For every 100 females there were 87.8 males. For every 100 females age 18 and over, there were 87.6 males.
The median income for a household in the village was $28,889, and the median income for a family was $38,125. Males had a median income of $29,861 versus $17,250 for females. The per capita income for the village was $21,634. 14.0% of the population and 7.5% of families were below the poverty line. 15.9% of those under the age of 18 and 8.3% of those 65 and older were living below the poverty line.