Panama, NE is a small town located in the Midwestern United States. It offers access to rural living and amenities that cater to its population of approximately 500 residents. Local companies in Panama, NE include Miller Feed & Supply, Panama Repair Shop, and Joan's Diner. The cost of living in Panama is lower than many other parts of the country. For example, 2 bedroom rent in the area is around $1,090 versus $1,430 for the US average. Additionally, grocery cost index is 96 compared to 100 for the US average. Residents of Panama enjoy a relaxing lifestyle with a low cost of living that helps them save money without sacrificing quality amenities.
Panama has an unemployment rate of 2.9%. The US average is 6.0%.
Panama has seen the job market increase by 1.5% over the last year. Future job growth over the next ten years is predicted to be 31.0%, which is lower than the US average of 33.5%.
Tax Rates for Panama
- The Sales Tax Rate for Panama is 5.5%. The US average is 7.3%.
- The Income Tax Rate for Panama is 6.8%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Panama
- The average income of a Panama resident is $27,805 a year. The US average is $28,555 a year.
- The Median household income of a Panama resident is $79,904 a year. The US average is $69,021 a year.