It is part of the State College, Pennsylvania metropolitan statistical area.

Milesburg and nearby Miles Township were named after Samuel Miles,[3] who co-owned the Centre Furnace Iron Works, along with Colonel John Patton and John Dunlop.

Milesburg is located near the site of a former Lenape Indian settlement known as Bald Eagle's Nest.

Iddings-Baldridge House in Milesburg was added to the National Register of Historic Places in 1977.

[5] According to the U.S. Census Bureau, the borough has a total area of 0.4 square miles (1.0 km2), all land.