Preston got its start in the year 1870, following construction of the railroad through that territory. Preston is named for one of its founders, I. M. Preston. Those present at the time of the town's platting were allowed to name Preston's streets after themselves.
Geography
Preston is located at . According to the United States Census Bureau, the city has a total area of, all land.
Demographics
2010 census
As of the census of 2010, there were 1,012 people, 418 households, and 280 families residing in the city. The population density was. There were 464 housing units at an average density of. The racial makeup of the city was 98.6% White, 0.5% African American, and 0.9% from two or more races. Hispanic or Latino of any race were 0.6% of the population. There were 418 households of which 33.3% had children under the age of 18 living with them, 53.6% were married couples living together, 9.8% had a female householder with no husband present, 3.6% had a male householder with no wife present, and 33.0% were non-families. 29.4% of all households were made up of individuals and 17.7% had someone living alone who was 65 years of age or older. The average household size was 2.42 and the average family size was 2.97. The median age in the city was 39.2 years. 25.9% of residents were under the age of 18; 6.3% were between the ages of 18 and 24; 25.2% were from 25 to 44; 24.6% were from 45 to 64; and 17.7% were 65 years of age or older. The gender makeup of the city was 48.8% male and 51.2% female.
2000 census
As of the census of 2000, there were 949 people, 417 households, and 250 families residing in the city. The population density was 962.2 people per square mile. There were 433 housing units at an average density of 439.0 per square mile. The racial makeup of the city was 99.89% White and 0.11% Pacific Islander. Hispanic or Latino of any race were 0.11% of the population. There were 417 households out of which 29.0% had children under the age of 18 living with them, 51.1% were married couples living together, 7.0% had a female householder with no husband present, and 40.0% were non-families. 35.7% of all households were made up of individuals and 20.6% had someone living alone who was 65 years of age or older. The average household size was 2.26 and the average family size was 2.97. Age spread: 23.1% under the age of 18, 10.1% from 18 to 24, 28.8% from 25 to 44, 20.3% from 45 to 64, and 17.7% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 90.9 males. For every 100 females age 18 and over, there were 89.1 males. The median income for a household in the city was $35,909, and the median income for a family was $47,375. Males had a median income of $32,150 versus $22,031 for females. The per capita income for the city was $17,639. About 4.0% of families and 6.8% of the population were below the poverty line, including 7.7% of those under age 18 and 14.6% of those age 65 or over.
