Lake Panorama is a census-designated place located in Cass Township and Victory Township in Guthrie County, Iowa, United States. In the 2020 census the population was 1266. It is located in east-central Guthrie County and is bordered to the southeast by the city of Panora. The CDP is a residential community on both sides of Lake Panorama, a reservoir constructed on the Middle Raccoon River. According to the U.S. Census Bureau, the Lake Panorama CDP has a total area of 8.3 square miles, of which 6.6 square miles are land, and 1.7 square miles, or 20.19%, are within Lake Panorama, the water body.