Panama is a village in Montgomery County, Illinois, home to about 420 people across 0.4 square miles. Its ZIP code is 62077.
Homes sold for a median of $66 per square foot in the three months ending August 2026.
Each card is that ZIP code’s whole market, including any part outside Panama. Seller’s market: under 4 months of supply; buyer’s market: over 6. Methodology
We’re writing up Panama’s story and what everyday life there is like, for people thinking about moving in.
Are you a local agent who knows Panama well? Agents who advertise here will be able to write the guide. Advertise on OfferBacked
| Nearest major airport | St. Louis Lambert International Airport (STL)50 miles away |
|---|---|
| Closer regional airport | Scott AFB/Midamerica Airport (BLV)38 miles away |
| Nearest city of 250,000+ | St. Louis, MO47 miles away |
| Nearest city of 1 million+ | Chicago, IL216 miles away |
Straight-line distances from the center of Panama; driving is longer.
Source: Airports from OurAirports (scheduled passenger service); city centers and populations from the U.S. Census Bureau.
Source: Members of Congress from the congress-legislators project; districts from the Census Bureau’s relationship files; governor and mayor from Wikidata.
Panama had 337 residents in the 2020 census, up 4% since 2000.
It’s the 991st largest of 1,450 towns in Illinois by population.
Montgomery County grew from 30,836 residents in 1900 to 28,288 in 2020.
Montgomery County, 1900–2020
Source: U.S. Census Bureau decennial censuses (counties 1900–1990 from the Bureau’s historical county file).
Average highs peak around 89°F in summer, and winter lows average 21°F. About 42 inches of rain and melted snow fall in a typical year.
Source: NOAA 1991–2020 climate normals, Hillsboro, IL weather station (9 miles away).
7,538 jobs at 676 businesses in Montgomery County. The biggest industries by employees:
Source: U.S. Census Bureau County Business Patterns 2023 (private employers; jobs counted where people work).
Nearest hospitals
Source: Hospitals from CMS Hospital General Information (ratings are CMS overall star ratings); straight-line distances.
Buying or selling around Panama? Tell us what you need and when. No agents advertise here yet, so we’ll keep your request for up to 30 days and send it to local agents who join. No obligation, and you choose who to work with.
Loading map…
Town boundaries don’t always match ZIP codes: a ZIP code can cross into neighboring towns, and a town can share a ZIP code with its neighbors. Facts describe the town itself; market figures describe whole ZIP codes.