Originally, Advance was called Lakeville and located a short distance east from the present location. When the railroad was completed about 1882, it bypassed Lakeville. The townspeople wanted to relocate the town to take advantage of the railroad, but couldn't agree on a site. One faction settled to the north at Toga. The other group moved west and called their settlement Advance to show that they were "advancing". The old Lakeville died, Advance thrived, and Toga never got off the ground.
The old name of Lakeville was presumably chosen because the region was covered in swamps and lakes.
| Year | Population | Percent change |
|---|---|---|
| 1900 | 221 | -- |
| 1910 | 621 | +181.0% |
| 1920 | 551 | -11.3% |
| 1930 | 579 | +5.1% |
| 1940 | 614 | +6.0% |
| 1950 | 733 | +19.4% |
| 1960 | 692 | -5.6% |
| 1970 | 903 | +30.5% |
| 1980 | 1,054 | +16.7% |
| 1990 | 1,139 | +8.1% |
| 2000 | 1,244 | +9.2% |