Miakka (or Old Miakka) was settled around 1850 by a party of cattlemen. The population in 1885 was estimated to be about 100. Before the turn of the century, Miakka residents had established a school, church, post office, country store, and a telephone service. Miakka has retained its agricultural base, but today only the Methodist church remains from the original town structures. Miakka is now a residential community without stores, schools, or commercial establishments. The old school house is used as a meeting hall for the fire department, and the community club, while one of the old general stores is used as a workshed by the original owner's descendant.

Many people here are particular about the spelling of Miakka. The common story is that when Miakka was registered on the federal map for a post office, the man who sent in the request wrote so poorly that they couldn't read it, so the little settlement went on the federal papers as being spelled with a "y" instead of an "i." Some folk refer to the community as Old Miakka, but others insist on simply Miakka.

Old Miakka is older and less developed than Myakka City which is about 15 miles to the northeast.