The population of Reelsville City is made up of a variety of demographics. The median age is 33 years. There are around 6.5% residents who are under the age of eighteen. Thirty-two percent of residents are between the ages of twenty-four and thirty-five, while thirty-five percent are aged twenty-five to forty-four. In addition, there are about forty-five percent of the population who are sixty-four and older. The gender makeup of Reelsville City is roughly equal, with about half male and half female.
The city's population has undergone many changes over the past several centuries. Its oldest sections feature Federal and Greek Revival style buildings. The city's original main street was 8th Street. Today, Italianate and Queen Anne style homes line Conner and Logan streets. These homes were built by wealthy citizens after the natural gas industry was discovered in the area in 1887. In addition, newer homes were constructed during the post-World War II housing boom.