The village was established as a water-station on the Chicago, St. Paul, Minneapolis & Omaha Railway and named for early settler William Stewart Craig, who in the early 1880s donated the land on which the town was built. Craig was laid out in 1881.
As of the census of 2010, there were 199 people, 85 households, and 51 families residing in the village. The population density was. There were 105 housing units at an average density of. The racial makeup of the village was 91.5% White, 0.5% African American, 2.5% Native American, 0.5% Asian, 2.0% from other races, and 3.0% from two or more races. Hispanic or Latino of any race were 2.5% of the population. There were 85 households, of which 29.4% had children under the age of 18 living with them, 43.5% were married couplesliving together, 11.8% had a female householder with no husband present, 4.7% had a male householder with no wife present, and 40.0% were non-families. 30.6% of all households were made up of individuals, and 13% had someone living alone who was 65 years of age or older. The average household size was 2.34 and the average family size was 2.92. The median age in the village was 46.2 years. 23.6% of residents were under the age of 18; 6% were between the ages of 18 and 24; 17.5% were from 25 to 44; 33.1% were from 45 to 64; and 19.6% were 65 years of age or older. The gender makeup of the village was 50.3% male and 49.7% female.
2000 census
As of the census of 2000, there were 241 people, 99 households, and 69 families residing in the village. The population density was 856.5 people per square mile. There were 111 housing units at an average density of 394.5/sq mi. The racial makeup of the village was 99.59% White, and 0.41% Native American. There were 99 households, out of which 29.3% had children under the age of 18 living with them, 53.5% were married couples living together, 9.1% had a female householder with no husband present, and 30.3% were non-families. 26.3% of all households were made up of individuals, and 8.1% had someone living alone who was 65 years of age or older. The average household size was 2.43 and the average family size was 2.97. In the village, the population was spread out, with 28.6% under the age of 18, 3.3% from 18 to 24, 30.3% from 25 to 44, 19.1% from 45 to 64, and 18.7% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 100.8 males. For every 100 females age 18 and over, there were 109.8 males. The median income for a household in the village was $29,583, and the median income for a family was $31,023. Males had a median income of $30,417 versus $14,464 for females. The per capita income for the village was $10,818. About 15.5% of families and 23.4% of the population were below the poverty line, including 38.5% of those under the age of eighteen and none of those 65 or over.
