The Town FilesPanama, Oklahoma
Town in Le Flore County · population 1,269 (2020 Census)
- Median home
- $124,800
- Household income
- $47,136
- Jan low / Jul high
- 30° / 94°
- Snow a year
- 1 in
- Tornadoes ≤10 mi since 1950
- 24
- Median age
- 31.5
Panama is a town of 1,269 people in Le Flore County, Oklahoma. The median home is worth $124,800, close to the typical Oklahoma town ($122,500). It ranks more of a college town than 87% of Oklahoma towns, better transit than 78% of Oklahoma towns.
How Panama ranks
Percentile among Oklahoma towns with at least 500 people on The Town Files lifestyle rankings. 50 is typical for the state; 90 means better than 90% of Oklahoma towns.
Homes and cost of living
The median home in Panama is worth $124,800, close to the typical Oklahoma town ($122,500). Homes cost about 2.6 times the median household income of $47,136, which is more affordable than 41% of Oklahoma towns. Median rent is $776 a month. 65.4% of households own their home.
| Housing | Panama | Typical Oklahoma town |
|---|---|---|
| Median home value | $124,800 | $122,500 |
| Median rent | $776 | $830 |
| Median household income | $47,136 | $54,111 |
| Home value ÷ income | 2.6× | 2.4× |
| Homeownership | 65.4% | 68.5% |
| Median year built | 1982 | 1976 |
| Seasonal / vacation homes | 0.0% | — |
Who lives in Panama
| People | Panama | Typical Oklahoma town |
|---|---|---|
| Median age | 31.5 | 37.1 |
| Age 65 and over | 20.6% | 16.5% |
| Under 18 | 29.0% | — |
| Bachelor's degree or higher | 7.0% | 16.3% |
| Below the poverty line | 29.0% | 18.8% |
| Veterans | 9.7% | — |
| Born outside the U.S. | 1.5% | — |
| Work from home | 7.8% | 5.7% |
| Average commute | 26.2 min | 22.9 min |
| Homes with broadband | 92.7% | 86.0% |
Weather in Panama
July highs average 94.1°F and January lows 29.6°F. About 47.3 inches of rain and melted snow fall a year, with 0.6 inches of snow (typical Oklahoma town: 4.4 in). Expect about 78 days a year at 90°F or hotter and 63 nights at or below freezing.
Tornadoes, storms and disasters
24 tornadoes have passed within 10 miles of Panama since 1950, compared with 33 for the typical Oklahoma town. 7 rated (E)F2 or stronger. The strongest, an F5, struck on March 26, 1976 about 2.4 miles from the town center and killed 2. Tornadoes within 10 miles have caused 2 deaths and 76 injuries since 1950. The most recent was on May 19, 2025.
Hail of 1 inch or larger has been reported within 10 miles 83 times; the largest was 2.75 inches on June 12, 2009.
Severe weather in Le Flore County since 1996
Le Flore County has been included in 32 federal disaster or emergency declarations since 1953, most often for fire, flood, tornado.
| Declared | Incident | Declaration |
|---|---|---|
| February 24, 2021 | Severe Ice Storm | DR-4587: Severe Winter Storms |
| February 17, 2021 | Severe Ice Storm | EM-3555: Severe Winter Storm |
| April 5, 2020 | Biological | DR-4530: Covid-19 Pandemic |
| March 13, 2020 | Biological | EM-3462: Covid-19 |
| June 1, 2019 | Severe Storm | DR-4438: Severe Storms, Straight-Line Winds, Tornadoes, And Flooding |
Jobs and pay in Le Flore County
Le Flore County had 11,691 jobs in 2024, paying an average of $42,224 a year. Unemployment was 4% in 2023; in Panama itself the ACS puts it at 6.2%.
Public schools in Panama
3 public schools with 755 students, about 17.2 students per teacher.
| School | Grades | Students | Per teacher |
|---|---|---|---|
| PANAMA ES | PK-6 | 444 | 15.3 |
| PANAMA HS | 9-12 | 216 | 19.6 |
| PANAMA MS | 7-8 | 95 | 23.8 |
Towns near Panama
- Shady Point, OK3.0 mi · 972 people · home $104,700
- Spiro, OK5.4 mi · 2,102 people · home $100,700
- Poteau, OK7.9 mi · 8,807 people · home $157,400
- Rock Island, OK10.5 mi · 717 people · home $134,700
- Pocola, OK12.6 mi · 4,255 people · home $151,100
- Wister, OK14.2 mi · 1,031 people · home $106,500
- Hackett, AR14.6 mi · 784 people · home $136,700
- Bonanza, AR14.8 mi · 587 people · home $133,300
Panama questions
Is Panama, Oklahoma a good place to retire?
On The Town Files lifestyle rankings, Panama scores better for retirees than 33% of Oklahoma towns and quieter than 31%. 20.6% of residents are 65 or older (median age 31.5).
How much does a house cost in Panama?
The median owner-occupied home in Panama is valued at $124,800 (Census ACS 2020–2024), against a median household income of $47,136, so homes cost about 2.6 times income. Median rent is $776 a month.
What is the weather like in Panama?
July highs average 94.1°F and January lows 29.6°F (NOAA 1991–2020 normals). It gets about 47.3 inches of precipitation a year and 0.6 inches of snow.
Does Panama get tornadoes?
24 tornadoes have passed within 10 miles of Panama since 1950 (NOAA Storm Events); the strongest was a F5 on March 26, 1976. The typical Oklahoma town has had 33.
- U.S. Census Bureau, American Community Survey 5-year estimates (2020–2024)
- U.S. Census Bureau, 2020 Census and 2025 Gazetteer (2020 / 2025)
- NOAA NCEI U.S. Climate Normals (1991–2020)
- NOAA NCEI Storm Events Database (1950–2026)
- FEMA OpenFEMA Disaster Declarations (this product uses the FEMA OpenFEMA API but is not endorsed by FEMA) (1953–2026)
- NCES Common Core of Data (2023–24)
- BLS Quarterly Census of Employment and Wages; USDA ERS county unemployment (BLS LAUS) (2000–2024)
- The Town Files lifestyle rankings, built from federal demographic, school, crime and housing data (2025)