Heber City was founded by a group of English emigrant Mormon pioneers who named the settlement after Heber C. Kimball, one of the early LDS Apostles. The settlement was originally quite pastoral with most industry centered around dairy farming and cattle ranching but over the years, Heber City has become more and more a bedroom community with almost 30% of the working population commuting to work in Provo, Park City, Orem or Salt Lake City.

Heber Valley has one of the lowest unemployment rates and fastest growing economies in Utah. The population grew about 25% between 2002 and 2008 while home prices doubled during that same period.