Panama is a city in Shelby County, Iowa, United States. The population was 221 at the 2010 census.HistoryPanama had its start in the year 1882 by the building of the Chicago, Milwaukee and St. Paul Railway through that territory.GeographyPanama is located at .According to the United States Census Bureau, the city has a total area of 0.29sqmi, all of it land.The community is on Iowa Highway 191, halfway between U.S. Routes 30 and 59Demographics2010 censusAs of the census of 2010, there were 221 people, 98 households, and 57 families residing in the city. The population density was 762.1PD/sqmi. There were 107 housing units at an average density of 369.0/sqmi. The racial makeup of the city was 96.4% White, 1.8% from other races, and 1.8% from two or more races. Hispanic or Latino of any race were 1.8% of the population.There were 98 households of which 24.5% had children under the age of 18 living with them, 52.0% were married couples living together, 3.1% had a female householder with no husband present, 3.1% had a male householder with no wife present, and 41.8% were non-families. 37.8% of all households were made up of individuals and 21.5% had someone living alone who was 65 years of age or older. The average household size was 2.26 and the average family size was 2.96.
