The area was originally called Wild Horse Prairie because it was frequented by mustangs. Balsora was established in the late 1880s or early 1890s. Postal service to the community began in 1894, was halted two years later, and began again in 1900. By that time Balsora had a general store, a church, and a school. The population, however, never exceeded fifty, and in 1924 postal service to the community ended. After the 1930s the population hovered between forty and fifty. In 1990 it was fifty.