While the post office dates from 1908, the discovery of oil in 1926 in the Permian Basin brought in enough fortune-seekers to populate a town.

By 1930, Crane was a full-fledged boomtown, with churches and private businesses operating next to the more nefarious elements of frontier life.

As in other oil boomtowns, development of services lagged behind temporary dwellings for the workers, although paved roads and other basic infrastructure were added following incorporation in the early 1930s.

Peak population as reported by the U.S. Census was in 1960 at 3,796, and it has declined slightly since, although the town remains the center for serving the oil fields in Crane County.

[8] According to the United States Census Bureau, the city has a total area of 1.0 square mile (2.7 km2), all land.

As of the 2020 United States census, there were 3,478 people, 1,042 households, and 826 families residing in the city.