Panama, IA

View of Panama, IA
Population
231
U.S. Census Population Estimates Program · 2025
Elevation
1,259 ft
USGS GNIS community points and 3DEP elevation · GNIS 2026-07-06; USGS 3DEP sampled 2026-07-23
Median Home Value
$142,200
U.S. Census American Community Survey 5-Year · 2024
Median Rent
$940/mo
U.S. Census American Community Survey 5-Year · 2024
Median Income
$63,125
U.S. Census American Community Survey 5-Year · 2024
General Quality
Overall rating out of 100

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About Panama

Tucked into the rolling farmland of Shelby County, Panama is a quiet community of around 200 people in western Iowa. Life here moves at a relaxed, rural pace, centered around peaceful residential streets and open country views. Highway 191 runs straight through town, giving residents a simple connection to neighboring communities while keeping local traffic minimal. For everyday essentials, medical care, and dining, residents typically make the short drive east to Harlan.

Families in Panama are part of the Harlan Community School District, where local kids join students from nearby towns for classes, sports, and school activities. Because Harlan serves as the county seat and regional hub, it handles most of the area's retail and community events, allowing Panama to remain a calm, close-knit neighborhood. It is a great fit for anyone looking for an affordable, easygoing home base with friendly neighbors and wide-open space.

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