Home Insurance in Panama, Nebraska
With a median home value of $197,800, Panama is 28% lower than the Lancaster County median.
The typical home in Panama was built around 1963. About 45% of homes were built before 1960, about 21 points above Lancaster County's 24%. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild.
In Panama, the housing stock is 96% single-family homes and 3% mobile or manufactured homes.
In Panama, about 49% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 11%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 88% of occupied homes in Panama are owner-occupied.
Homes heated with propane can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies. 68% of homes in Panama are primarily heated with natural gas.
FEMA rates Lancaster County's overall risk as Relatively Moderate, led by strong wind (Very High). Lancaster County had 1,051 active NFIP flood policies as of September 2026. See the full Lancaster County home insurance overview for all FEMA hazard ratings and flood coverage details.
In Nebraska, the statewide average premium for a standard HO-3 homeowners policy is $2,142 per year (NAIC, 2023 data).
Key figures
| Median home value | $197,800 |
|---|---|
| Median year built | 1963 |
| Owner-occupied share | 88% |
| Share of owner-occupied homes with a mortgage | 49% |
| Top county hazard | Strong Wind (Very High) |
| Active NFIP policies in Lancaster County | 1,051 |
| Home insurance premium | $2,142 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)