Housing costs in Panama?
A typical home costs
$74,100, which is 78.1% less expensive than the national average of
$338,100 and 69.3% less expensive than the average Illinois home, at
$241,700. Renting a two-bedroom unit in Panama costs
$870 per month, which is 39.2% cheaper than the national average of
$1,430 and 44.8% cheaper than the state average of
$1,260.
Can I afford Panama?
To live comfortably in Panama (zip 62077), Illinois, a minimum annual income of
$14,040 for a family, and
$26,800 for a single person is recommended.
What does A.I. say about Panama?
The cost of living in 62077 Panama, IL is relatively low compared to other states in the country. Housing costs are especially attractive for those looking for a bargain. The median home value is around $108,000 and rent averages around $800 per month. Transportation costs are also low with the average price of gas being around $2.50 per gallon. Groceries, utilities, and entertainment tend to be slightly more expensive than other parts of Illinois but are still quite affordable overall.