Panama, IA housing market
The typical Panama home is worth about $269,000, up 10.8% in a year, 12% above the Iowa typical home.
Home values, sales, trends and how Panama compares with the towns next door — updated as new data is published.
Panama at a glance
Typical home value, 2022–2026
Show as a table
| January | Panama | Iowa |
|---|---|---|
| 2023 | $212,000 | $211,000 |
| 2024 | $217,000 | $218,000 |
| 2025 | $238,000 | $228,000 |
| 2026 | $250,000 | $236,000 |
| August 2026 | $269,000 | $240,000 |
No new homes permitted in 2025
No permits for new homes were issued in Panama in 2025. The last year with any was 2022 (1 new home).
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Panama gained 14 residents while 3 new homes were permitted: about 4.7 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across Iowa: 1.3 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 0 | 0 | 0 | — |
| 2025 | 0 | 0 | 0 | — |
| 2024 | 0 | 0 | 0 | — |
| 2023 | 0 | 0 | 0 | — |
| 2022 | 1 | 1 | 0 | $400,000 |
| 2021 | 0 | 0 | 0 | — |
| 2020 | 0 | 0 | 0 | — |
| 2019 | 0 | 0 | 0 | — |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 2 | 2 | 0 | $565,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 0 | 0 | 0 | — |
| 2014 | 1 | 1 | 0 | $250,000 |
| 2013 | 0 | 0 | 0 | — |
| 2012 | 0 | 0 | 0 | — |
| 2011 | 0 | 0 | 0 | — |
| 2010 | 0 | 0 | 0 | — |
| 2009 | 1 | 1 | 0 | $150,000 |
| 2008 | 1 | 1 | 0 | $200,000 |
| 2007 | 0 | 0 | 0 | — |
| 2006 | 0 | 0 | 0 | — |
| 2005 | 0 | 0 | 0 | — |
| 2004 | 1 | 1 | 0 | $250,000 |
| 2003 | 1 | 1 | 0 | $250,000 |
| 2002 | 2 | 2 | 0 | $350,000 |
| 2001 | 2 | 2 | 0 | $350,000 |
| 2000 | 1 | 1 | 0 | $135,000 |
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
A two-bedroom rents for about $980
HUD's Fair Market Rent for a two-bedroom in Panama is $980 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $750 · 4 bedrooms $1,430
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (51562; Omaha-Council Bluffs, NE-IA HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.