Centrally located in the county, the town is part of the Greenwood, Mississippi micropolitan area.

[3] Carrollton is located in central Carroll County on the south side of Big Sand Creek, a tributary of the Yalobusha River.

According to the United States Census Bureau, Carrollton has a total area of 0.8 square miles (2.1 km2), all land.

U.S. Route 82, a four-lane divided highway, passes through the southern part of Carrollton, leading east 11 miles (18 km) to Winona and west 18 miles (29 km) to Greenwood.

The climate in this area is characterized by hot, humid summers and generally mild to cool winters.

[5] As of the 2020 United States census, there were 423 people, 73 households, and 43 families residing in the town.

The town of Carrollton is served by the Carroll County School District.