Olde West Chester was originally known as Mechanicsburg, and under the latter name was laid out in 1817 by Hezekiah Smith.

Cincinnati-Dayton Road, formerly U.S. Route 25, the Dixie Highway, is the main street through the community.

According to the United States Census Bureau, the Olde West Chester CDP has a total area of 0.35 square miles (0.9 km2), all land.

15.3% of all households were made up of individuals, and 4.7% had someone living alone who was 65 years of age or older.

About 11.9% of families and 7.9% of the population were below the poverty line, including none of those under the age of eighteen and 50.0% of those 65 or over.