Market Overview
Home Prices in Panama, OK
The median home value in Panama, OK is $117,270 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 1.8% compared to a year ago and up 4.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Panama are priced71% below average.
Over the past five years, Panama home values have risen by approximately46.1%, reflecting strong long-term appreciation in this market.
Price History
Panama Home Price Trend
2020
$64,500
$65K
—
2021
$80,257
$80K
+24.4%
2022
$101,682
$102K
+26.7%
2023
$102,929
$103K
+1.2%
2024
$110,139
$110K
+7.0%
2025
$115,162
$115K
+4.6%
2026
$117,270
$117K
+1.8%
City Comparison
Panama vs. National Median
🏠 Panama
$117,270
National Median
$410,000
At $117,270, homes in Panama cost 71% 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
$23,454
on $117,270
Monthly P&I
$612/mo
30-yr @ 6.8%
Total Monthly Est.
~$777/mo
incl. taxes & insurance
Income Needed
$31,080
gross annual (30% rule)
10% Down Option
$11,727
+ PMI applies
Loan Amount (20% dn)
$93,816
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, OK?
The median home value in Panama is $117,270 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 1.8% year-over-year.
How much have home prices changed in Panama?
Over the past year, home values in Panama have increased by 1.8%. Over five years, prices have risen approximately 46.1%.
How much do I need to earn to buy a home in Panama?
To comfortably afford the median home price of $117,270 with a 20% down payment ($23,454) at today's rates (6.8%), you'd need a gross annual income of approximately $31,080. 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 $117,270, homes in Panama are 71% below the national average.