It takes its name from the locks of the Ohio and Erie Canal, on which it was situated.

[6] At the 2010 census there were 237 people, 95 households, and 69 families living in the village.

There were 108 housing units at an average density of 144.0 per square mile (55.6/km2).

At the 2000 census there were 280 people, 107 households, and 78 families living in the village.

About 5.1% of families and 9.5% of the population were below the poverty line, including 9.1% of those under the age of eighteen and 6.1% of those sixty five or over.

While Rickenbacker Airport is extremely close to Lockbourne, very few commercial flights land or take off at Rickenbacker, and many Columbus-area commercial flights are scheduled at John Glenn International Airport.

Many smaller general aviation airports are also located close to Lockbourne, the closest of which is Bolton Field.