Zip 51562 (Panama, IA) Housing

The housing market in Panama, IA (Zip Code 51562) is an attractive option for potential homebuyers. The median value of homes in the area is $191,900 - significantly lower than the US median value of $338,100. Additionally, the one-year house appreciation rate is 15.23%, much higher than the 8.27% national average. This makes Panama a desirable place to invest in real estate as well as a great place to call home.

The median home cost in Panama (zip 51562) is $191,900. Home appreciation the last 10 years has been 69.7%. Home Appreciation in Panama (zip 51562) is up 15.4%.

Average Age of Homes

- The median age of Panama (zip 51562) real estate is 58 years old

The Rental Market in Panama (zip 51562)

- Renters make up 6.9% of the Panama (zip 51562) population
- 2.0% of houses and apartments in Panama (zip 51562), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Panama, Iowa	United States
	199.0	139,647,020.0
	68	42
	$191,900	$338,100
	15.4%	16.6%
	49.3%	57.0%
	69.7%	101.1%
	$13.26	$10.98
	$1,969	$2,690
	87.9%	57.4%
	5.5%	11.2%
	6.5%	31.4%
Vacant Housing
	2.0%	1.9%
	3.0%	0.4%
	0.0%	0.7%
	0.0%	0.4%
	0.0%	3.6%
	0.5%	4.1%
Value of Owner-Occupied Housing
	0.0%	2.6%
	1.7%	2.4%
	0.6%	2.8%
	12.0%	3.9%
	8.6%	4.5%
	7.4%	11.3%
	36.0%	13.0%
	7.4%	20.1%
	16.6%	13.6%
	0.0%	8.3%
	5.1%	9.7%
	0.0%	3.9%
	4.6%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	2.0%	13.6%
	2.0%	13.6%
	13.6%	13.6%
	2.5%	13.2%
	13.1%	14.8%
	13.6%	13.6%
	6.5%	10.0%
	2.0%	4.7%
	55.8%	12.2%

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