Waconda was once a station on the Oregon Electric Railway and it formerly had a post office by the same name.[3][4] The station was named when the railroad was built through the area in 1907, and the post office was established in 1912.[3] There was previously a community called Waconda about a mile south of Gervais established in 1870 on the former line of the Oregon & California Railroad (now owned by Union Pacific).[3] The name may come from the Great Plains Native American word "Wakonda" (something consecrated).[3] Waconda was one of a series of OE stations with Native American names; one station to the south was named for Chinookan leader Comcomly and the next one to the north was named for Kalapuyan "Chief" Quinaby.
In 1915, Waconda had a store and a population of 40.[1][5] An American Foursquare house near the ruins of the OE station once served as the post office and is still standing.[5]
Agriculture in the area includes the growing of hops, berries, fruit, and the production dairy products.[1]
