[4] The village was founded as "New Rutland" in 1855 when approximately 200 members of the Vermont Emigration Association paid $10 each for a plot of land.

However, an additional ten blocks of land were added October 20, 1856, that was located primarily in adjacent Marshall County.

Fifteen fire departments responded, including Streator, along with multiple ambulances and law enforcement personal.

Approximately five blocks of developed land extend west into Marshall County, outside the village limits.

Interstate 39 passes 0.5 miles (0.80 km) of the village limits, but there is no direct access to Rutland.

According to the 2021 census gazetteer files, Rutland has a total area of 0.69 square miles (1.79 km2), all land.