In the 17th and 18th there was some production of iron in Kalmar County, totalling about 10 mines; of those 2 were located in the municipality of Hultsfred.

Hultsfred was a center for some military exercising companies during the 19th century, and some remaining building can be visited in the vicinity of Silverån.

When the railroads through Sweden were built late in that century, Hultsfred received a population boost.

Besides Hultsfred, in the mid north of the municipality, there are the towns of Virserum in the south-west and other ever smaller settlements such as Lönneberga, Silverdalen and Målilla.

Much of the geography is taken up with forests, a notability for the entire province of Småland, with some few scattered areas suitable for agriculture.