Panama, New York.
Typical home $192,002 (+4.2% in a year). Jamestown-Dunkirk-Fredonia, NY metro.
to buy the typical home at today's mortgage rate — +$614 (+156%) since Jan 2020.
- 1 year
- Up $7,737 +4%
- $184,264$192,002 since Sep 2025
- 5 years
- Up $53,908 +39%
- $138,094$192,002 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Panama$1,008
- New York$2,755
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 11 years.
Typical home values in Panama, NY rose 4.2% over the past year — faster than the nation's +1.2%.
Living in Panama, Chautauqua County, New York
Panama is a village of 475 people in Chautauqua County. Half its households earn more than $60,865 a year and half less, against $58,351 across Chautauqua County; 13% of its people live below the poverty line. Unemployment in Chautauqua County was 4.6% in August 2026, and the county had 0.7% fewer jobs in 2025 than the year before. The most people in Chautauqua County work in schools and health care, then manufacturing.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Panama is a small village in Chautauqua County, with a population small enough that most people likely know one another. Household incomes here run a little above the county's, though a noticeable part of residents live below the poverty line. Winters are cold and very snowy, with January the coldest month, while July brings warm summer days and rain and melted snow fall steadily through the year.
Work. Residents work mostly in schools, hospitals and social care, with manufacturing, shops, and restaurants, hotels and entertainment also employing many. Across Chautauqua County, some of the largest workplaces are Cummins, the Jamestown City School District and SUNY at Fredonia. Fewer adults here hold a four-year degree than in many places, and most people travel some distance to work rather than working from home.
Things to do. Chautauqua Lake is a short drive away and is the area's best-known stretch of water. Also a short drive off are Palestine Park and Long Point State Park on Lake Chautauqua, a protected area along the shore. For a longer outing, Fort Le Boeuf is a historic fort a longer drive away.
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- 217households
- 20%of adults have a degree
- 13%below the poverty line
- 24 mintypical commute
- 5%work from home
What people in Chautauqua County work in
Employed residents by industry, from the Census survey. Chautauqua County had 45,974 jobs in 2025, 0.7% fewer than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 31° and lows near 13°; warmest in July, with highs near 80° and lows near 53°. About 116 inches of snow and 49 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Chandlers Valley 1SE weather station, 14 miles away (NOAA).
Largest workplaces in Chautauqua County
- CumminsEngines, diesel and semidiesel, manufacturing1,431
- Jamestown City School DistrictSchool district882FTE
- Nestle Purina Petcare CompanyFeeds, prepared for dog and cat, manufacturing800
- SUNY at FredoniaUniversity or college786
- Upmc Chautauqua at WCAGeneral hospital711FTE
- SKF GlobalBall bearing manufacturer444
- WalmartWarehouse clubs and supercenters403
- Jamestown Community CollegeTwo-year college360
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 115 workplaces with 20 or more staff, 12,415 people in all across the county; Panama has one of its own. School districts come from the Common Core of Data (NCES, 2023–24), colleges from IPEDS (NCES, 2023–24) and hospitals from their Medicare cost reports (CMS, 2023); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- LightningRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Panama’s census tracts, against the rest of the country; all of them together, very low. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Chautauqua County and the Jamestown-Dunkirk-Fredonia, NY metro.
Panama home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Panama$192,002
- New York$524,942
- United States$366,157
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Zip codes with a Panama address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Panama — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.