The largest village in Ruscombmanor Township, it was named after the Prices who were early connected with its history. In 1802, Martin Price became the owner of twelve acres of ground, which was part of a much larger tract owned by the Prices. Martin laid out his acreage in building lots. Pricetown soon grew and became quite a stopping place for travelers. In the early 1900s it had three churches, two hotels, and a store.
The post office was discontinued when Rural Free Delivery was introduced.