Waldo is part of the River Valley Local School District.

Waldo was laid out in 1833 by M. D. Pettibone at the intersection of a turnpike and a state road.

[6][7] Founded in 1962, the G&R Tavern is known for its fried bologna sandwich, which is topped with mustard, pickles, onions, and cheese.

[8][9][10][11] According to the United States Census Bureau, the village has a total area of 0.65 square miles (1.68 km2), all land.

The racial makeup of the village was 96.4% White, 0.3% African American, 0.9% Asian, and 2.4% from two or more races.

23.2% of all households were made up of individuals, and 10.1% had someone living alone who was 65 years of age or older.

32.6% of all households were made up of individuals, and 19.4% had someone living alone who was 65 years of age or older.