Market Overview
Home Prices in Panama, NE
The median home value in Panama, NE is $283,131 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.4% compared to a year ago and up 3.2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Panama are priced31% below average. Panama is part of the Lincoln, NE metro area.
Over the past five years, Panama home values have risen by approximately25.8%, reflecting strong long-term appreciation in this market.
Price History
Panama Home Price Trend
City Comparison
Panama vs. National Median
At $283,131, homes in Panama cost 31% below the national median of $410,000. This makes Panama a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Panama?
20% Down Payment
$56,626
on $283,131
Monthly P&I
$1,477/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,876/mo
incl. taxes & insurance
Income Needed
$75,040
gross annual (30% rule)
10% Down Option
$28,313
+ PMI applies
Loan Amount (20% dn)
$226,505
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Panama, NE?
The median home value in Panama is $283,131 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.4% year-over-year.
How much have home prices changed in Panama?
Over the past year, home values in Panama have increased by 3.4%. Over five years, prices have risen approximately 25.8%.
How much do I need to earn to buy a home in Panama?
To comfortably afford the median home price of $283,131 with a 20% down payment ($56,626) at today's rates (6.8%), you'd need a gross annual income of approximately $75,040. This assumes keeping total housing costs at or below 30% of gross income.
How does Panama compare to the national average home price?
The national median home value is approximately $410,000. At $283,131, homes in Panama are 31% below the national average.
What metro area is Panama part of?
Panama is part of the Lincoln, NE metropolitan area. Home prices and market conditions can vary across the broader metro region.