Lyman's first postmaster, B.L. Lyman, named the town for himself. Lyman was officially incorporated on May 8, 1909. Floodwaters in the channel, eroded a hundred feet of property during November 2017.
Geography
Lyman is located at . According to the United States Census Bureau, the town has a total area of, of which, is land and is water.
As of the census of 2010, there were 438 people, 160 households, and 111 families living in the town. The population density was. There were 172 housing units at an average density of. The racial makeup of the town was 95.4% White, 1.4% Native American, 0.2% Asian, 1.8% from other races, and 1.1% from two or more races. Hispanic or Latino of any race were 3.4% of the population. There were 160 households of which 40.0% had children under the age of 18 living with them, 52.5% were married couplesliving together, 8.1% had a female householder with no husband present, 8.8% had a male householder with no wife present, and 30.6% were non-families. 18.8% 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 2.74 and the average family size was 3.12. The median age in the town was 36.1 years. 25.3% of residents were under the age of 18; 7.7% were between the ages of 18 and 24; 29.2% were from 25 to 44; 26% were from 45 to 64; and 11.6% were 65 years of age or older. The gender makeup of the town was 49.3% male and 50.7% female.
2000 census
As of the census of 2000, there were 409 people, 161 households, and 105 families living in the town. The population density was 621.2 people per square mile. There were 173 housing units at an average density of 262.8 per square mile. The racial makeup of the town was 95.60% White, 0.98% African American, 1.47% Native American, 0.24% Asian, and 1.71% from two or more races. Hispanic or Latino of any race were 0.73% of the population. There were 161 households out of which 28.0% had children under the age of 18 living with them, 50.9% were married couples living together, 7.5% had a female householder with no husband present, and 34.2% were non-families. 25.5% of all households were made up of individuals and 9.3% had someone living alone who was 65 years of age or older. The average household size was 2.54 and the average family size was 2.99. In the town, the age distribution of the population shows 25.7% under the age of 18, 8.6% from 18 to 24, 30.6% from 25 to 44, 24.0% from 45 to 64, and 11.2% who were 65 years of age or older. The median age was 37 years. For every 100 females, there were 98.5 males. For every 100 females age 18 and over, there were 98.7 males. The median income for a household in the town was $34,318, and the median income for a family was $40,625. Males had a median income of $34,583 versus $25,417 for females. The per capita income for the town was $17,014. About 11.3% of families and 15.7% of the population were below the poverty line, including 27.1% of those under age 18 and none of those age 65 or over.
