The city has deep historic and cultural ties to the Scandinavian countries of Denmark, Sweden, and mostly Norway.

A large contingent of the city's current population is descended from a major immigration of people from Nordic countries in the 1840s through 1860s.

It is evident in the large number of Lutheran churches in the community with ministers historically delivering sermons in different languages (Swedish, Danish, and Norwegian) respective of the makeup of their congregations.

[3] According to the United States Census Bureau, the city has a total area of 2.80 square miles (7.25 km2) which is all land.

Story City is located in central Iowa on Interstate 35, 45 minutes north of Des Moines and 10 minutes north of Ames which is home to Iowa State University.

Bethany Life Communities, American Packaging, Eby, and Innovative Lighting are major employers in Story City.

The Story Theatre/Grand Opera House is the oldest continuously operating theater in the Midwest and is listed on the National Register of Historic Places.

In addition to showing movies, the theater features productions by Story City's Judge Story's Theatrical Troupe during Scandinavian Days in the summer and the annual Yulefest Celebration in the winter.

[10] The Story City Park is situated along the banks of the Skunk River, one of Iowa's recreational water trails.

City Park is home to a historic swinging bridge, constructed in 1936 under President Franklin D. Roosevelt's Works Progress Administration program; it was damaged by ice in March 2019.

[11][12] The Skunk River Greenbelt Trail system begins just south of Story City, immediately off Interstate 35 on County Road E-18.

[14] Story City is located at the western boundary of the Silos & Smokestacks National Heritage Area.

The event began in 1965, occurs in the first week of June, and features live music with a beer garden, rides, and games.

Participants find themselves in an immersion of Nordic culture in the form of food and arts.

Riverside Bible Camp is located 2 miles north of Story City.

Bill Willingham's 2012 graphic novel Fable: Werewolves of the Heartland is set entirely in Story City.