As reported in a New York Times article, the town was named in 1860 by Dabnie Nunnally, the community's first postmaster. He had little faith in the legibility of his handwriting, and thought that using numbers would solve the problem. He then reached into his pocket and came up with 88 cents.
The only store in this small town was opened and run by the Richardson Brothers. It was the main source for feed, grocery, hardware and farm needs. It was closed in the late 1980s. The building was restored in 2005 and reopened as the Eighty Eight General Store. The historic post office (Zip Code 42130) was kept intact and is now open to the public. It is no longer in service however and was discontinued in 1984.
Eighty Eight is home to a congregation of the Church of Christ. Although sometimes mistakenly called Eighty Eight Church of Christ, the proper name is Refuge Church of Christ.