Foster was platted April 25, 1893 on land donated by William R. Foster, an early settler.[3] At one time the town had a post office, blacksmith shop, railroad depot, two stores, a stockyard, a threshing machine, a grain elevator and a sawmill.[4] Currently it consists of a few private residences, a couple of small shops and a motel.
A post office was established at Foster in 1883, and remained in operation until it was discontinued in 1905.[5]