Founded in 1842, the city saw a silver boom in the 1880s bring early prosperity and economic development to the area.

Today, the economy is largely ranching, poultry farming, silviculture, and tourism around Lake Ouachita.

", of the popular podcast Small Town Murder, hosted by James Pietragallo and Jimmie Whisman, featured Mount Ida on August 22, 2019.

Mount Ida, the mountain, is about 5 miles (8 km) southwest of the town along Route 27.

[4] The climate in this area is characterized by hot, humid summers and generally mild to cool winters.

The Ouachita National Forest is located in Montgomery County, and is close to Mount Ida.

It is the South's oldest and largest national forest,[1] and offers scenic areas like Little Missouri Falls, and hiking and backpacking trails.