Midway is part of the Piedmont Triad region and is neighbored by the communities of Arcadia (west), Welcome (south), Wallburg (northeast) and Winston-Salem (north).

Bethany Reformed and Lutheran Church Cemetery and the Hamilton Everhart Farm are listed on the National Register of Historic Places.

Rather than being within the town limits, the post office with the "Midway, North Carolina", designation is found in a small community of the same name in Rockingham County, 5 miles (8 km) southwest of Reidsville.

As a result, most residents of the town either use Winston-Salem or Lexington city names for mailing via the United States Postal Service.

An act of incorporation was then submitted to the North Carolina General Assembly for approval (Senate Bill S1852), which was unanimously ratified on June 29, 2006.