Waveland is a town in Brown Township, Montgomery County, in the U.S. state of Indiana.

[5] The settlement began as a resting place at a good spring between Terre Haute and Lafayette, Indiana.

By 1850, the town had three general stores, three churches, two inns, two wagon shops and a blacksmith.

Waveland was the boyhood home of American Impressionist painter T. C. Steele.

The Presbyterian Church had recognized the need for higher learning in this community and provided a new brick building for the education of children.

Steele family records show that, until 1870, they owned the cottage at 110 Cross Street in Waveland, built on one of Milligan's lots.

Steele Boyhood Home are listed on the National Register of Historic Places.

Indiana State Road 59 passes through the center of town as Main Street and Cross Street, ending at State Road 47 at the town's northern boundary.

According to the U.S. Census Bureau, Waveland has a total area of 0.31 square miles (0.80 km2), all land.

The climate in this area is characterized by hot, humid summers and generally mild to cool winters.

The racial makeup of the town was 98.1% White, 0.2% Native American, and 1.7% from two or more races.