Milk River was incorporated as a village on July 31, 1916, and then a town on March 15, 1956.

[6] Including the Hudson's Bay Company's flag (1818–1869), the eight flags are France (1682–1760), the Spanish Empire (1769–1801), the French Republic (1801–1803), the United States (1803–1818), the British Empire (1869–1945), the Canadian Red Ensign (1945–1965), and the current Canadian Maple Leaf (1965–present).

[6] The nearest weather station is in Masinasin, Alberta, which is approximately 36 km (22 mi) away.

Milk River has a humid continental climate (Dfb) and enjoys some of the warmest summers in Alberta, along with milder winters.

[9] Recreation venues in Milk River include a nine-hole golf course, curling rink, and swimming pool.

[16] The Milk River Review was a weekly newspaper that was published between November 11, 1948 and May 27, 1954.

Finally, the weekly newspaper returned to its original name, running as the Milk River Review from June 1, 1961 through to November 16, 1961.