Gilead is Thayer County's smallest incorporated village, taking its name from Gilead Precinct and dating to the 1880s railroad expansion into the area. Its tiny footprint (0.07 square miles) makes it one of the most compact municipalities anywhere in the county.

With just 30-32 residents depending on the source year, Gilead is a barely-there but still legally incorporated village, continuing a long, slow population decline typical of the county's smallest rail-era towns.