Harrison Church discovered coal near the Hams Fork River in 1868. He gathered financial backing from a group in Minneapolis, and they formed the Hams Fork River Coal Company. Diamondville was built to house the miners, and the town was incorporated in 1896.[5]
The town was named for the superior-grade coal that came from the local mines. The coal resembled black diamonds.[5]
As of the census[9] of 2010, there were 737 people, 320 households, and 203 families living in the town. The population density was 629.9 inhabitants per square mile (243.2/km2). There were 363 housing units at an average density of 310.3 per square mile (119.8/km2). The racial makeup of the town was 93.4% White, 0.1% African American, 0.7% Native American, 0.4% Asian, 0.3% Pacific Islander, 2.8% from other races, and 2.3% from two or more races. Hispanic or Latino of any race were 9.1% of the population.
There were 320 households, of which 27.2% had children under the age of 18 living with them, 51.3% were married couples living together, 6.3% had a female householder with no husband present, 5.9% had a male householder with no wife present, and 36.6% were non-families. 30.0% of all households were made up of individuals, and 12.2% had someone living alone who was 65 years of age or older. The average household size was 2.30 and the average family size was 2.86.
The median age in the town was 42.5 years. 21% of residents were under the age of 18; 7.5% were between the ages of 18 and 24; 23.5% were from 25 to 44; 33.5% were from 45 to 64; and 14.5% were 65 years of age or older. The gender makeup of the town was 49.5% male and 50.5% female.