Thedford was established in 1887 when the Chicago, Burlington and Quincy Railroad was extended to that point, at which time the new town was designated county seat.

[6] According to the United States Census Bureau, the village has a total area of 0.23 square miles (0.60 km2), all land.

There were 118 housing units at an average density of 513.0 per square mile (198.1/km2).

43.0% of all households were made up of individuals, and 15.1% had someone living alone who was 65 years of age or older.

There were 126 housing units at an average density of 517.1 per square mile (199.7/km2).

33.7% of all households were made up of individuals, and 16.8% had someone living alone who was 65 years of age or older.

None of the families and 0.9% of the population were living below the poverty line, including no under eighteens and 3.4% of those over 64.

There is a lumber yard, a Dollar General store, and a long time staple of a grocery store named Ewoldt's, which now offers river tubing and tanking.