The small town of Panama, OK (zip code 74951) is an affordable place to live. The average 2 bedroom rent in the city is $710, which is almost half the cost of a 2 bedroom rent in the US ($1,430). Groceries are also relatively inexpensive here, with Panama's Grocery Cost Index at 89 compared to the US' 100. Local businesses in Panama include Mac's Service Station for automotive repairs and supplies, Easywood Solutions for home improvement needs, and Butterfly Boutique Gifts & Antiques for unique trinkets or gifts. Whatever your needs may be, there are plenty of local companies in Panama to help out!
Panama (zip 74951) has an unemployment rate of 6.7%. The US average is 6.0%.
Panama (zip 74951) has seen the job market decrease by -1.7% over the last year. Future job growth over the next ten years is predicted to be 21.5%, which is lower than the US average of 33.5%.
Tax Rates for Panama (zip 74951)
- The Sales Tax Rate for Panama (zip 74951) is 9.5%. The US average is 7.3%.
- The Income Tax Rate for Panama (zip 74951) is 5.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Panama (zip 74951)
- The average income of a Panama (zip 74951) resident is $19,571 a year. The US average is $37,638 a year.
- The Median household income of a Panama (zip 74951) resident is $41,974 a year. The US average is $69,021 a year.